Business

HARARE – Growth of e-solutions in Zimbabwe is being severely hindered by poor investment in information communication technology (ICT) infrastructure and implementation of a comprehensive legislation, ICT experts say. This comes as ICTs minister Nelson Chamisa slammed Finance minister Tendai Biti for allocating “meagre funds” for his ministry in the 2013 national budget. Chamisa —…

HARARE – Indigenisation minister Saviour Kasukuwere says the snub of Barclays’ Zimbabwe unit in the merger of the group’s African operations with those of Absa Group has nothing to do with empowerment laws, but the institution’s internal affairs. This comes as analysts say the omission of the Zimbabwe unit from the $2,1 billion deal is…

HARARE – Zimbabwe remains on course to be re-admitted into the London Bullion Market Association (LBMA) after year-on-year output to November 2012 surged by seven percent to 12 422.43 kilogrammes (kg). The country seeks re-entry into LBMA after it was disqualified in 2008 when production dropped to an all-time low of three tonnes, a figure…

HARARE – Electricals manufacturer Powerspeed Limited registered a $29, 2 million revenue in the year to September 30, 2012 up 11 percent from $26, 3 million recorded in prior comparative period. Profit before tax was $711 187 during the period under review increasing from $460 115. Tax stood at $176 000 resulting in an attributable…

HARARE – The International Air Transport Association (IATA) team, which arrived in the country late last year, is finalising audit of Air Zimbabwe (Air Zim)’s compliance with the aviation safety guidelines and preparedness to resume international flights. The airline failed the IATA test early last year. IATA is a global aviation body that works with…

HARARE – A delegation of American businesspeople is expected in Harare this January to explore opportunities in the country, Harare mayor Muchadeyi Masunda told businessdaily. This comes after Masunda’s trip last month to Chicago, United States of America (USA), following up on investment initiatives started by Prime Minister Morgan Tsvangirai in 2011. “I managed to…

HARARE – Zimbabwe must change its economic policies if the country is to halt heightening de-industrialisation, economists say. Most of the country’s companies — which were heavily battered by years of hyperinflation, obsolete machinery and massive power outages — have found it tough to operate in the illiquid dollarised economy. Since 2009, numerous firms have…

HARARE – Harare’s parking business Easipark is battling a potentially crippling workers’ strike over contract renewal and salary issues. The workers, close to a hundred, took to the streets yesterday accusing Easipark of not following proper procedure in terminating their contracts and also short-changing them on salaries and commission. Easipark is a joint venture business…

HARARE – Global money transfer company Western Union (WU) has begun handling local transactions as competition to tap the unbanked funds intensifies. WU — a leading provider of money transfer services in the world with one of the largest distribution networks in Africa — initially offered international transfer services only in Zimbabwe. This comes on…

HARARE – Zimbabwe’s projected 2013 tourism industry growth targets depend on the country changing the negative perception in key source markets, the African Development Bank (AfDB) has warned. The southern African nation — whose image was seriously blemished by politics — has been struggling over the past decade to shake off the “red flag” perception,…