HARARE – Zimbabwe’s largest telecommunications company, Econet Wireless, has invested in network equipment as part of its expansion drive to reach its capacity to 10 million subscribers. Econet said shipment of the equipment, which began in the last few days, was expected to continue well into next year. “The new expansion drive by Econet is…
HARARE – Zimbabwe trade promotion body, ZimTrade, says the country is quickly de-industrialising and government must come up with policies to help revive local industries. Despite an ephemeral rebound in 2009, capacity utilisation in the manufacturing sector is on the decline as companies continue to be choked by liquidity challenges affecting the economy. An estimated…
HARARE – Economists say Zimbabwe’s five percent or less year-on-year inflation target is achievable based on maintaining the existing multiple currency regime. The predictions come in the wake of a decline in the July annual inflation rate by 0,03 percent to 3,94 percent, attributed to restricted price movements. The rate of inflation denotes the magnitude…
HARARE – Emirates freight division, Emirates SkyCargo, has announced the launch of a dedicated freighter flight to Harare International Airport. The scheduled cargo-only Boeing 777 aircraft will arrive from Dubai every Friday and the flight will continue to Johannesburg before returning to Dubai. The SkyCargo airplane will have capacity to carry 103 tonnes of freight,…
HARARE – Capital Bank Limited (Capital Bank) — formerly ReNaissance Merchant Bank (RMB) — is now on a firm footing that it has even managed to repay most of its depositors, managing director Lawrence Tamayi says. The institution recently completed a rebranding and restructuring exercise following the emergence of the National Social Security Authority (Nssa)…
HARARE – Star Africa Corporation (Star Africa) group chief executive Patison Sithole and chief operating officer Tendai Masawi have resigned from the listed diversified concern following a series of loss performances. The resignations also come as the group has embarked on a restructuring exercise that is expected to end the bad patch and return to…
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