Business

HARARE – Zimbabwe needs urgent solutions to economic challenges highlighted at its August High-Level Economic Forum to maintain a growth trajectory, the African Development Bank (AfDB) says. The Finance ministry convened the high-level forum in Victoria Falls and identified low gross capital formation; huge external debt; lack of industrial competitiveness; weak regional integration; high levels…

HARARE – Zimbabwe still has the capacity to licence new players in the mobile telephone service industry, a Cabinet minister has said. Speaking at the sidelines of the e-Tech Exhibition 2012 in the capital yesterday, Information Communication Technology (ICT) minister, Nelson Chamisa said what determines the licensing of licences in the industry is the demand…

HARARE – The Zimbabwean government has resolved not to licence new mobile telephone service providers on grounds the industry is already saturated, a government minister has said. Zimbabwe, with a population estimated at around 14 million, has more than 10 million active mobile phone subscribers on the country’s three network platforms, Econet Wireless Zimbabwe Private…

HARARE – Zimbabwe’s mining sector is expected to grow on the back of a stable macro-economic environment despite liquidity challenges, electricity shortages and controversial government policies, mining experts say. The situation which has persisted since 2009 as a result of the signing of the GPA and the adoption of the use of multiple currencies has…

HARARE – The International Monetary Fund has expressed reservations over Zimbabwe’s political situation, warning a cloud of uncertainty hanging over the country was undermining economic recovery following a decade of cumulative decline. In its staff report for the 2012 article IV consultation released last week, the IMF said the country’s four straight years of strong…

HARARE – Mobile operator, Econet Wireless (Econet) says its mobile money platform, Ecocash now boasts of 1,7 million registered users. According to the company, EcoCash is now the second fastest growing mobile money transfer service in the region after M-Pesa launched in Kenya by Safaricom. In celebrating the first anniversary of the service, Econet has…

HARARE – The Common Market for East and Southern Africa (Comesa) economic bloc of which Zimbabwe is a member, said local companies should be innovative if they are to survive when its regional customs union is launched. Economic experts had argued against the establishment of the customs union in 2009, fearing that Zimbabwe did not…

HARARE – In today’s cut-throat business environment, it is the law of the jungle, where only the fittest survive. Companies that are not meeting their performance targets will not survive for long and like in the face of a great tsunami, they will be swept aside by the stiff competition from their rivals in the…

HARARE – The local unit of London Stock Exchange-listed Reckitt Benkiser plc (RB) says it is still awaiting feedback on its indigenisation plan submitted to government. Although RB Zimbabwe managing director Agrippa Mandiwona could not be drawn to revealing the compliance plan, he hinted the world’s largest household cleaning products producer and major consumer healthcare…

HARARE – Zimbabwe could emerge as a better mining destination particularly in platinum compared to South Africa, if it changes its policy an analyst says. SA – holding the world’s largest known platinum reserves and followed by Zimbabwe – is currently facing operational problems ranging from increased downtime due to worker strikes and increased labour…