Business

Business

Henry Ruzvidzo has been elected president of the country’s largest business member organisation, the Confederation of Zimbabwe Industries (CZI), taking over from Sifelani Jabangwe. Ruzvidzo, who is the managing director of Richmond Furniture, previously served as Jabangwe’s deputy. ...

THE National Employment Council (NEC) for the Insurance Industry is demanding upward individual salary adjustments of between 14% to 26%, depending on the grades of workers in that sector, NewsDay has established. ...

C-TRADE is focused on creating convenience and increasing participation and activity on the stock market. ...

FINANCE minister Mthuli Ncube yesterday insisted that the economy has turned around “after six months” as per his promise last October, boasting the turnaround is being witnessed on the fiscal side. ...

MILLERS say the recent government directive to scrap the concessionary 1:1 rate for oil marketers in accessing forex from the central bank will see a 284% hike in wheat prices to ZWL$1 912,90 per metric tonne. ...

BULAWAYO’s Egodini Mall developer Terracotta Private Limited has maintained that the project is still “ongoing” despite indications that nothing concrete is taking place onsite. ...

State-owned telecommunications firm NetOne has introduced a new mobile data package in a bid to cushion its customers in the face of rising costs. ...

ANALYSTS say claims by monetary and fiscal authorities that the interbank market and the parallel market for foreign currency will converge are highly unlikely in the absence of a sustained supply of foreign currency. ...

South African retail giant, Edcon, is selling its shareholding in local clothing chain Edgars Zimbabwe, as the struggling group realigns operations to stay afloat. ...

THE Zimbabwe Environmental Law Association (ZELA) has urged government to urgently implement the extractive industries transparency initiative (EITI) to promote openness and accountability. ...

THE Empowerbank has to date disbursed over ZWL$2,7 million in loans to young entrepreneurs across the country, with another ZWL$5,4 million in applications still under consideration, an official has said. ...

C-TRADE recently introduced investment clubs at the Inaugural Investor Day Conference held on the 15th of May at the Harare International Conference Centre. ...

FINANCE Minister, Mthuli Ncube says government is reluctant to hike power tariffs, but it may consider a commodity linked tariff for mines. ...

DISTRIBUTED Power Africa (DPA), a subsidiary of Econet Wireless Global, is targeting to have 100 megawatts of installed capacity from solar as part of the initiative to move Zimbabwe towards a green economy. ...

Most currencies have snappy names, like yen, won, kip or lek. Some have unfortunate ones: dong or colón. ...

FISH producers in Zimbabwe want government to introduce a 10% surtax on all fish imports entering the country to support the local fish farming industry. ...

THE Bulawayo City Council (BCC) and the Zimbabwe Power Company are currently embroiled in a dispute over the ownership of the Bulawayo Power Station with the municipality claiming $106 million in unpaid royalties from the power utility. ...

More than $40 million has been lost to cyber-crime in the first four months of the year, an official report has shown. ...

THE Zimbabwe Commercial Farmers Union (ZCFU) says preparations for the winter wheat season are behind schedule with less than a tenth of the planned hectarage planted. ...

Zimbabwe’s telecoms regulator says it will continue reviewing tariffs in line with cost movements and international best practices following concerns over the high cost of products in the country. ...

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Commission can be a confusing topic for anyone, whether you are great with money or not. Maybe you are considering a job with a commission structure or are currently in a field where commission is a big chunk of your compensation. If you are not sure how it all works in the business world, we will break down the concept so you come out a little wiser than you were before. ...

LEADING retailer, OK Zimbabwe says it has invested more than $3 million in this year’s edition of its OK Grand Challenge Jackpot Promotion. ...

Players in the hospitality sector say the rolling power cuts being experienced in the country have pushed up the cost of doing business and reduced Zimbabwe’s competitiveness in the region. ...

The macro-research unit of global rating agency, Fitch Solutions, says Zimbabwe’s new monetary system is unlikely to lead to a rapid improvement in liquidity, adding that the country’s challenges will remain acute in the short-to-medium term. ...

Gweru-based yeast manufacturer, Lesaffre Zimbabwe, formerly Anchor Yeast, is targeting the regional market following a $10 million upgrade of its plant, which has had the company up its capacity, a Cabinet minister has said. ...

ZIMBABWE’S insurance regulator is working on a guidance paper on treatment of the sector’s assets and liabilities in response to the country’s currency reforms, an official has said. ...

CORTEVA Agriscience (Corteva), a division of United States-based global agricultural inputs provider, DowDupoint has entered into a strategic partnership with a local company, Valley Seeds, to oversee the distribution of seeds. ...

London-based grain and fertiliser exporter, Holbud Limited, has approached the High Court seeking a court order to register a US$27,5 million arbitral award granted against the Reserve Bank of Zimbabwe (RBZ) in November 2018. ...