HARARE – Buy Zimbabwe is finally opening its doors to the country. On Saturday, it unveiled its first store in Zvishavane, stocked exclusively with Zimbabwean-made products. Buy Zimbabwe spokesperson Munyaradzi Hwengwere sees the opening of the Zvishavane store as a stepping stone to reviving the economy. He said Zimbabweans can use the power of their…
HARARE – Telecoms group Vimpelcom has hired Standard Chartered to advise it on the sale of its Zimbabwean operations among others. The company has a majority stake in Telecel Zimbabwe and its businesses in Burundi, Central African Republic, Cambodia and Laos will also be put up for sale. New York-listed Vimpelcom wants to focus on…
HARARE – THE government has poured in $4 million to intensify efforts to harness the country’s mineral resources through the establishment of a company to spearhead mineral exploration activities, President Robert Mugabe said. “Government, through the Zimbabwe Mining Development Corporation, is resuscitating the Mining Promotion Corporation, a company which will spearhead mineral exploration activities.” Mugabe…
HARARE – Zimbabwe, reeling under its debilitating $10,7 billion debt, has owed the International Monetary Fund’s Poverty Reduction and Growth Trust (PRGT) money for longer than any other country. The Harare government, which is broke, has been looking for money in the region including from South Africa — and overseas. It is under pressure to…
HARARE – Zimbabwean budget airline, Fresh Air which launched its flights on Friday has been grounded following the filling of liquidation by 1time Airline its technical partner. The Zimbabwean registered low cost airline had entered into a joint venture agreement with the South African carrier in which its aircraft would be used to serve the…
VICTORIA FALLS – Economic Planning minister Tapiwa Mashakada says the Medium Term Plan (MTP) has failed to stimulate economic growth and meet set targets due to absence of donor funding and liquidity constraints obtaining in the country. Launched in July 2010, the economic blueprint’s main objectives are to transform the economy, reduce poverty, create jobs,…
HARARE – The Consumer Council of Zimbabwe (CCZ) has called for speedy promulgation of a consumer protection law to ensure a fair deal for customers in the market place. “It has been a slow process, quite cumbersome and very frustrating considering that it’s been over a year now since we submitted guidelines together with the…
HARARE – Goevrnment says it is ready to part with its majority shareholding in struggling national carrier, Air Zimbabwe (AirZim). Investment Promotion minister Tapiwa Mashakada said 76 percent equity was up for grabs as solutions are sought to turn around the airline’s fortunes. “We are desperately looking for strategic partners to take equity in Air…
HARARE – Johannesburg Securities Exchange-listed miner, DRDGold says it has spent more than $4 million to date in its Zimbabwean exploration work. The company operates a 50 percent joint venture with Chizim Investments in an early-stage gold exploration project on the country’s greenstone belt. “We’re finding some gold. We won’t be spending a lot of…
HARARE – The Coca-Cola system was the biggest winner of the 2012 Zimbabwe Marketing Efforts Awards hosted during the Marketers of Zimbabwe Convention held in Victoria Falls recently. Coca-Cola and its bottlers, Delta Beverages and Schweppes Zimbabwe Limited scooped four awards during the annual event hosted by the Marketers Association of Zimbabwe (Maz). The beverage…
