HARARE – Listed transport and logistics company, Pioneer Corporation Africa (Pioneer) is optimistic of a bullish performance in the medium to long-term owing to its recent acquisition of newer assets which will significantly improve efficiencies, chairperson Paul Chingoka said. He said the company’s performance in the second half of 2012 to June 30, has continued…
HARARE – Zimbabwe is this week expected to formally kick start negotiations with Zambia for the construction of a joint 1 600 megawatts (MW) Batoka Gorge hydro-electric power project, Energy minister Mangoma said. He told delegates at the just- ended Zimbuild infrastructure finance summit that the two countries are scheduled to put together expressions of…
HARARE – Contracting firms say government should restore investors’ confidence and meet conditions of soon after 1980 when the country gained its independence, in order to address challenges bedevilling the construction sector. Presenting a paper at the ZimBuild Summit, Zimbabwe Building Contractors Association representative Oliver Chidawu said corporates had failed to maintain a growth in…
HARARE – Padenga Holdings Limited (Padenga) has acquired a 50 percent stake in United States alligator business, Lone Star Africa Farms (LSAF), as the local company seeks to grow operations. The other 50 percent in LSAF is equally divided between Redell Enterprise and an individual Jorge Hernandez. Oliver Kamundimu, Padenga chief financial officer, told a…
BULAWAYO – Government plans to turn the Plumtree Border Post into a 24-hour facility in a bid to improve efficiencies, an official has said. Zimbabwe Revenue Authority (Zimra) customs exercise regional manager, Lonto Ndhlovu told a Confederation of Zimbabwe Industry (CZI)’s Matabeleland chamber meeting that her organisation was aware of delays at the border post…
HARARE – Businessman Oliver Chidawu has been booted out as Pelhams chairperson after shareholders voted against his re-election at an annual general meeting yesterday. Simbarashe Mupandanyama a director of the furniture retailer was also shown the door while other directors, Douglas Munatsi, Phineas Whata and Florence Ziumbe voluntarily resigned. Five board members representing Pelhams’ new…
HARARE – Telecel Zimbabwe Private Limited (Telecel) yesterday announced plans to invest $40 million into a network expansion exercise that will see the company grow coverage to 90 percent by end of next year. “Our network coverage is now around 75 percent of the country and we are targeting 85 percent by year end and…
HARARE – Inflation slowed down to 3,63 percent in August shedding 0,31 percentage points from 3,94 percent in July, attributed to stable food prices, the national statistics agency, Zimstat says. This means that prices as measured by the consumer price index (CPI) increased by an average of 3,63 percentage points between August 2011 and August…
HARARE – Mobile operator, Econet Wireless Zimbabwe (Econet), says its customer base has surged to over 7 million connected users from 6,4 million in February. The company said it has the capacity to rise further to 8,5 million customers. Econet, which releases its half-year results in the second week of October, said after a slow…
BULAWAYO – Zimbabwe is seriously considering the production of small grains in a bid to mitigate against drought that ravaged the staple maize crop in the past cropping season, the Zimbabwe farmers Union (ZFU) has said. The farmers’ body attributed perennial droughts to climate change, which the country has not fully adapted to. ZFU president…
