HARARE – A Chinese delegation has announced plans to invest $3 billion towards construction of a 1 200 megawatt (MW) thermal power station. The investment comes as other investors, including Essar Africa Holdings, have expressed interest to construct thermal power stations and plug the country’s power deficit which now stands around 800MW. Harare businessman Ken…
HARARE – The Hospitality Association of Zimbabwe (Haz) says it is ready to host the United Nations World Tourism Organisation (UNWTO) General Assembly next year, with hotel refurbishments and membership training well on course. From the time Zimbabwe won the bid to co-host the UNWTO General Assembly with Zambia, the tourism sector has been kept…
HARARE – The multi-million dollar property development by West Properties, initially supposed to be a shopping mall, will also include a hospital, office park and cluster homes, businessdaily can reveal. Despite environmental concerns and resistance from surrounding residential areas and city fathers, Ken Sharpe’s West Properties says it’s going ahead with building its $100 million…
HARARE – Following the central bank’s raising of financial institutions’ capital threshold to $100 million, analysts say the Zimbabwean financial services sector is poised for greater growth in the medium to long-term, given that only banks with solid balance sheets will remain standing. Analysts’ consensus is that the ongoing rush by financial institutions to raise…
BULAWAYO – Zimbabwe Tourism Authority (ZTA) chief executive Karikoga Kaseke says just about 1 000 official guests are expected for the United Nations World Tourism Organisation (UNWTO) general assembly contrary to government figures of 4 000. The latest figures come after the ZTA boss last month had stated 2 000 guest would grace the tourism…
HARARE – The local unit of Johannesburg-listed Tongaat Hullet (THZ) says it plans to increase its sugar exports to the European Union (EU) backed by a forecasted increase in crop production. Zimbabwe, through the EU Sugar Adaptation Strategy, has a duty and quota-free access into the preferential markets of the EU and into the United…
HARARE – Beverages manufacturer Delta Corporation (Delta) has invested $8 million in the installation of a Polyethylene terephthalate (Pet) bottling line at its Bulawayo plant, as the company seeks to increase capacity. The bottle blow moulding and soft drinks filling line — acquired from Europe — has a rated capacity to run 15 000 bottles…
HARARE – Zimbabwe’s motorists are now spoilt for choice as Zimoco has launched a new range of Italian cars. The car dealer on Thursday unveiled its Alfa Romeo and Fiat cars. The Alfa Romeo range includes the thoroughbred sports version, Alfa Romeo 159, aimed at satisfying local appetite for sporty and stylish automobiles. The Zimbabwean…
HARARE – With less than 50 weeks to go before the country co-hosts the United Nations World Tourism Organisation (UNWTO) general assembly with Zambia next year, all eyes are on the two neighbouring countries with particular focus on their state of preparedness. The general assembly is held once every two years and brings together key…
HARARE – Listed short-term insurer Fidelity Life Assurance of Zimbabwe (Fidelity) recorded a 57 percent growth in after-tax profit to $7,8 million in the half year to June 30, 2012. The group’s total income increased to $13 million from $8,9 million during the period. Premium income — representing 50 percent of total income — stood…
