Business

Business

The 15th of May 2019 will perhaps be the day that will not be forgotten easily in the local capital market as it marked the beginning of communication and dialogue between investors and capital market intermediaries. The event was held under the theme, ‘Fostering financial inclusion and stimulating economic development through exploiting investment opportunities on Zimbabwe’s capital markets.’ ...

Business risk is the exposure of an organization to factor(s) that threaten its ability to meet its objectives. Business leaders face a range of complex, interconnected and fast-evolving risks. ...

Mines minster Winston Chitando has urged holders of mining claims to use or risk forfeiting them to the State. ...

ZIMBABWE’s economy will contract by 20% in US dollar terms to US$20 billion by year end due to worsening economic conditions, new estimates released by Treasury show. ...

Delta Corporation Limited chief executive officer Pearson Gowero says the company is struggling to access enough foreign currency from the interbank market recently introduced by the Reserve Bank of Zimbabwe. ...

UAE-based global satellite broadband service provider, Yahsat yesterday announced a strategic partnership with Zimbabwean operator, Zodsat. ...

ZIMBABWE’S annual inflation rate for the month of April shot to 75,86%, up nine percentage points on the March rate of 66,8% as the country fails to tame price increases. ...

GOVERNMENT procurement processes are being weighed down by delays in releasing payments for goods and services, NewsDay has learnt. ...

ZIMBABWE realised about $455 million from mineral sales, excluding gold and silver, in the first quarter of the year, with chrome being the biggest contributor, an official has said. ...

CALEDONIA Mining Corporation reported an increase in after-tax profit to US$9,3 million in the first quarter compared to US$3,1 million last year due to foreign exchange gains and the profit on disposal of a subsidiary, the combined effect of which outweighed a lower gross profit. ...

SPIRITS and wine maker African Distillers Limited (Afdis) says it has not resumed cider exports into the region due to the prevailing restrictive economic environment. ...

MEDTECH Holdings posted a profit after tax of US$1,4 million in the year ended December 31, 2018 from a loss of US$459 279 in 2017, but the company has warned of imminent stock outs emanating from failure to pay debts owed to foreign creditors. ...

CABS Bank, a subsidiary of Old Mutual Zimbabwe, says it remains committed to capacitating the private sector, but will not be expecting any growth in its $800 million loan book as it has not secured any new lines of financing. ...

INDUSTRIALISTS have called on the business sector and individuals to adopt renewable energy sources as a long-term solution to the country’s power shortages. ...

Fidelity Printers and Refiners Limited (FPR) says it will pay an incentive for gold deliveries as government tries to ramp up output of the yellow metal. ...

WORKERS in the hospitality industry are demanding that their salaries be paid in foreign currency, saying their employers have the capacity to do so as most of their transactions are in foreign currency. ...

ZUVA Petroleum has attained three International Standards Organisation certifications from the British Standards Institution (BSI), making it the only company in Zimbabwe’s fuel sector to do so. ...

ZIMBABWE will resume power imports after electricity generation plunged due to low water levels at Kariba dam. ...

INTERNATIONAL money transfer service, WorldRemit, has seen a 40% surge in customers sending money to Zimbabwe for cash collection through ZB Bank. ...

ZB Bank says its loan book is sitting at around $130 million for all sectors and was aggressively looking at lending to the agricultural sector with focus on products with export potential. ...

ZIMBABWE’S annual broad money supply increased by 30% to $9,85 billion in January, down from $7,54 billion last year, despite efforts by government to keep a lid on money supply in order to lower inflationary pressures in the market. ...

SHEPCO Industrial Supplies, a division of Shepco Group, has pleaded with government to support it in terms of raw materials so that it can boost the small-scale miners’ production, an official has said. ...

The Zimbabwe Tourism Authority (ZTA) has opened an office in China as part of its drive to increase the number of visitors travelling from that region to the country. ...

SOUTH Africans were yesterday voting in the most competitive election they’ve had since democracy began in 1994. But, despite this, the poll will have far more impact on the factional battle within the governing African National Congress (ANC) than on the contest between it and other parties for control of government. ...

The Procurement Regulatory Authority of Zimbabwe (Praz) has put in place new provisions for procurement officers to make them more answerable and transparent in carrying out their duties. ...

Buy Zimbabwe says it will on Friday launch a national awareness programme emphasising the need for consumption of locally-made products to boost industry’s production capacity and eventually bring down the country’s import bill. ...

The intense scrutiny that a company like Facebook comes under, coupled with the sense the corporation is more than just business, means that rumour and speculation go hand ...

Battery manufacturer, Chloride, says it is planning to expand its smelting plant to nearly double the firm’s manufacturing capacity. ...

Hundreds of commuters in Harare were yesterday left stranded after commuter omnibus operators hiked fares in most part of the city, citing fuel shortages. ...

ZIMBABWE’S mobile network operators (MNOs) spent $59,5 million in capital investments in 2018 compared to $100,9 million in the previous year as the southern African economy deteriorates, pushing operating costs up. ...