HARARE – The Civil Aviation Authority of Zimbabwe (Caaz) says it has invested $30 million in refurbishing Harare International Airport. The authority — responsible for regulating Zimbabwe’s airspace and managing airports — said it will invest more in other airports’ facilities to keep them in line with international standards. Zimbabwe has approximately nine airports, all…
HARARE – Confectionery-maker Lobels Bread Holdings (Lobels) has resumed operations with its products expected to hit the market today. Lobels, one of Zimbabwe’s oldest bakeries, suspended operations in August to pave way for refurbishment. However, this was after operational challenges with the baker failing to pay creditors. Ngoni Mazango, the group’s chief executive, told businessdaily…
HARARE – Breco International (Breco) subsidiary Fodya (Private) Limited (Fodya) says its going concern status is not threatened by supply chain disruptions in certain markets, a statement reveals. This comes after reports that the Zimbabwean cigarette-maker has lost quite a significant chunk of its product to contraband syndicates in the region. “It has, however, been…
HARARE – Zimbabweans must pay back their loans to facilitate viability of the banking sector, Vice president Joice Mujuru has said. The Zanu PF number two not only echoed President Robert Mugabe’s calls for bankers not to abuse depositors’ funds, but expressed concern over the rising default rate on loans in the country. “We need…
HARARE – A coalition of local businesspeople has formed a union to fight against foreign-owned retailers which they accuse of rejecting locally produced goods. The Businessdaily yesterday gathered that 36 local manufacturers and farmers, led by Gladman Investments — a packaging firm — were mobilising government to “kick out” the foreign retailers. “These firms (foreign…
Chengetai Zvauya ZIMBABWE’S Parliament is expected to summon tobacco players next year to fully understand an unfolding drama surrounding British America Tobacco’s (BAT) alleged espionage saga and dirty tricks that have ravaged the multi-million dollar industry. Moses Jiri, Parliament’s agriculture committee chairperson, said parliament had developed a keen interest in the unfolding drama. “We are…
HARARE – Breco International (Breco)’s tobacco subsidiary has reportedly lost nearly 70 percent of its production to “thefts” — highlighting the extent of the damage caused by regional contraband dealers to the local tobacco industry. Although John Bredenkamp’s Fodya (Private) Limited (Fodya) has confirmed suffering “huge losses” due to a combination of factors, it has…
HARARE – Harare mayor Muchadeyi Masunda says Easipark parking rates are fairly-priced despite an international parking charges survey revealing the fees are exorbitant. According to a global central business district parking rates survey by Colliers International (Colliers) — a global property services firm — at one dollar per hour, Harare’s parking rates are even more…
HARARE – President Robert Mugabe’s involvement in the tobacco espionage saga has raised eyebrows after it emerged he is related to one of the alleged victims. British American Tobacco (BAT) is accused of fronting the espionage and has come under fire from Mugabe. But Savanna Tobacco (Savanna) executive chairperson Adam Molai — who is married…
HARARE – Foreign investors will not partner Zimbabwe in its diamond beneficiation initiative as the move will negatively affect their home markets, a local expert said. Stephen Muchenje, Zimbabwe Diamond Education College principal, said Zimbabwe had to change its policy and strategy in the diamond sector. “We will be misleading ourselves as a nation if…
