Business

BULAWAYO – Bulawayo City Council (BCC) has intensified efforts to regain control of the city’s thermal power station. The Bulawayo power plant was arbitrarily expropriated by the Zimbabwe Electricity Supply Authority (Zesa) more than two decades ago after the amalgamation of all the Local Authority Electricity Undertakings. Amen Mpofu, Bulawayo deputy mayor, told residents who…

HARARE – Emirates, one of the fastest growing airlines in the world, has launched its daily service from Dubai to Washington Dulles International Airport (IAD). It is the seventh gateway for Emirates in the United States, and the 12th new route to join the airline’s international network in 2012. The new service means that passengers…

Business Writer HARARE – Insurance giant, Old Mutual has announced the appointment of its head of Old Mutual Life Assurance Company, Jonas Mushosho, to succeed Luke Ngwerume as group chief executive. The listed concern also elevated two senior executives to the positions of deputy CEO. Zvomunoda Chizura is now deputy CEO: Life and Asset Management,…

HARARE – Government says it will maintain its current ban on chrome ore exports until there is mandatory minerals beneficiation policy in place, amid mounting pressure from stakeholders who want it lifted. Zimbabwe banned exports on chrome ore in April last year to promote value addition and employment creation. However, due to low smelting capacity…

By Taurai Mangudhla, Business Writer HARARE – British Airways (BA) is expected to start flying to Harare next year, adding to the number of international and regional airlines landing on Zimbabwe’s runways, Zimbabwe Tourism Authority (ZTA) chief executive Karikoga Kaseke says. BA’s move comes amid increasing interest among airlines to fly to Harare. Fly Emirates…

By Kudzai Chawafambira, Business Writer HARARE – A Harare City Council (HCC) employee, Grace Maravanyika yesterday got a huge surprise when she was handed over a grand prize of a Chevrolet Spark from Kingdom Bank’s ‘‘Win Big with Smart Money’’ promotion at her Mufakose home. “I cannot believe my eyes and I did not know …

HARARE – Despite delayed salary payments and reduced disposable incomes in the market, listed clothing retailer, Edgars Stores Limited (Edgars’) credit sales grew by 89 percent in the first half of 2012. The company’s sales have been picking owing to reintroduction of credit facilities in 2010 after it had suspended the product due to hyperinflation….

HARARE – Analysts say poor economic policies, dilapidated infrastructure and political bickering in the Government of National Unity (GNU) have triggered Zimbabwe to remain one of the least competitive countries in the world. The economy, which had been on a free-fall until the formation of the coalition government, has failed to significantly grow despite the…

HARARE – As global platinum prices continue to decline, Zimbabwe’s second-largest platinum producer Mimosa Mine (Mimosa) plans to cut down on production costs to cushion its operations. This follows Zimbabwe Platinum Mines pricing concerns at its half-year results presentation at the end of August. Global platinum prices have hit an all-time low of between $1…

HARARE – Econet Wireless Zimbabwe (Econet) – Zimbabwe’s largest mobile service provider – yesterday unveiled a solar powered environmentally friendly kiosk, as part of its ‘green’ campaign. The campaign is focused on investing in alternative energy sources, raising environmental awareness and alleviating the crippling impact of worsening power cuts on service. The Green Kiosk –…