Business

ZIMBABWE Stock Exchange listed financial services provider, ZB Financial Holdings, has appointed Agnes Makamure as the company’s acting chairperson with effect from March 20 2024. Makamure takes over from renowned banker and strategist Luxon Zembe who was seconded to superintend over the merger of two financial institutions, CBZ Holdings and ZB Financial Holdings, in December…

ZIMBABWE’S mobile data traffic continues to rise, increasing by an overall 4.7 percent to record 46.79 petabytes in the fourth quarter of 2023. This was up from 44.67 recorded in the previous quarter, the latest industry statistics show. According to the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) Sector Performance Report Q4 2023, Econet…

NETONE Group chief executive officer (CEO) Raphael Mushanawani says his organisation is spearheading various strategic initiatives to enhance rural connectivity as part of efforts to boost the transformative impact of telecommunications in underserved areas. Speaking in Harare recently, Mushanawani underscored the importance of narrowing the digital gap and empowering marginalised communities across the country through…

STANBIC Bank Zimbabwe has defied the challenging operating environment to post an inflation adjusted profit after tax of $744 billion for the year ended December 31, 2023, up by 210 percent from $240 billion in the prior year. In a statement accompanying the results, Stanbic Bank chairman, Gregory Sebborn said the institution ended the year…

THE State-owned Zimbabwe National Road Administration (Zinara) says it is moving to stop leakages and curb corruption in the parastatal. Speaking at the Zinara annual general meeting (AGM) in Harare earlier this week, board chairperson George Manyaya said they had deployed strategies in the form of information communication technology targeted at plugging and optimising revenue…

ZIMBABWE and Zambia are planning to retender the Batoka Gorge hydropower project with an estimated value of US$5bn and a capacity of 2.4GW. The Zambezi River Authority (ZRA), a joint venture between the two countries, is set to receive bids by April 2025, with the new potential developers expected by September of the same year….

TIGERE Property Fund says its two commercial real estate assets, Highland Park Phase 1 and Chinamano Corner, both in Harare, have managed to maintain a 100 percent occupancy in the second half of 2023. The Terrace Africa Asset Management Fund, a subsidiary of Tigere, said all their tenants have swiftly met their operational mandates to…

THE State-owned Zimbabwe National Road Administration (Zinara) says it is engaging with the Local Government ministry to monitor the disbursement of funds to local authorities. Speaking at Zinara annual general meeting in Harare yesterday, chief executive officer Nkosinathi Ncube said the authority required all local authorities to be transparent as they do not want to…

THE Institute of Architects of Zimbabwe (IAZ) says the government should consider introducing a mass transportation system to reduce congestion on the country’s roads. IAZ president Brighton Madondo told The Daily News on Sunday that the country’s road system is incapable of handling the ever-growing number of vehicles, due to the prevalence for individual car…