Business

Business

ZIMBABWE’s largest fast food chain, Simbisa Brands Limited (SBL), says it will implement a two-tier pricing model, offering discounts for customers paying in United States dollars as it tries to raise foreign currency required to pay royalties for the foreign franchises it operates. ...

LISTED miner Falcon Gold Zimbabwe has failed to publish its financial results for the financial year to September 30 this year, citing operational challenges which have been worsened by inadequate foreign currency allocations by the Reserve Bank of Zimbabwe (RBZ). ...

Chinese mining and exploration group ASA Resources Group says it is tying up a deal to sell-off its shareholding in Bindura Nickel Corporation (BNC), which will see it exit the Zimbabwean market. ...

ZIMBABWE’S crop and livestock production will be negatively affected by delays in rainfall being experienced in the 2018/19 season, a food security report by the United States Agency for International Development has warned. ...

CASSAVA SmarTech Zimbabwe (CSZL), the fintech-focused spin-off from Econet, made its debut on the Zimbabwe Stock Exchange (ZSE) yesterday, and became the bourse’s largest counter by market capitalisation. ...

MICROFINANCE institutions (MFIs) lent $50,5 million for consumptive purposes in the nine months to September, representing a third of the industry’s loans in issue. ...

Regional seed producer Seed-Co says it is working on developing rice varieties suitable for the local climatic conditions in order to scale back the country’s reliance on rice imports. ...

S&P Dow Jones says it will remove Zimbabwean domiciled companies from its indices next Monday due to local inflationary pressures and forex shortages, a development that will constrain the country’s ability to attract foreign investment. ...

ZIMBABWE’S year-on-year inflation rate for the month of November gained 10,16 percentage points to 31,01%, the statistics agency reported yesterday. ...

THE African Development Bank (AfDB) yesterday extended a $1 million grant to Zimbabwe which will be used to combat cholera. ...

GOVERNMENT will soon unveil a platinum policy to provide the framework for developing the sector, Mines minister Winston Chitando has said. ...

Leading United Kingdom newspaper, The Telegraph, has named several local hotels as among the best on the continent. ...

Econet Wireless Zimbabwe Limited has announced that it will list the now separated Cassava SmarTech Zimbabwe Limited on December 18, 2018 following approval by the Reserve Bank of Zimbabwe for shares to be issued to foreign shareholders. ...

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WORLDREMIT, a global remittance firm, has partnered BancABC, adding the banking group’s 20 branches as new cash pick-up locations across Zimbabwe. ...

For close to two decades CEO Global together with Titans: Building Nations have hosted their annual Pan Africa’s Most Influential Women in Business and Government Awards recognising African Leaders over different economic sectors. This program has grown to capture many sectors and regions from its commencement 19years ago. ...

THE Zimbabwe Tourism Authority (ZTA) and local tourism services firm Accoleisure (Pvt) Limited have jointly launched a mobile phone application which they say will improve access to wi-fi hotspots around the country. ...

THE 2019 National Budget fails to adequately fund the industrialisation programme that would help revive Zimbabwe’s ailing economy after only $27,5 million was allocated to the Industry and Commerce ministry for the purpose against a bid of $306,1 million, a parliamentary committee has said. ...

FARMERS taking part in the government-funded Command Agriculture programme will soon be getting 20 million litres of fuel per week, Energy deputy minister Magna Mudyiwa, told Parliament last week. ...

THE Auditor-General’s Office is facing budgetary constraints that have limited audits to 317 stations out of 3 320, raising alarm among parliamentarians. ...

GOVERNMENT mismanagement and profiteering elites have destroyed Zimbabwe’s markets for food and fuel while lying to the public about actual foreign currency on hand, a former United States government official has said. ...

TURNOVER on the Zimbabwe Stock Exchange (ZSE) dropped 22,37% to $118,03 million in November from $152,05 million in October as lower volumes were traded on the local bourse. ...

FUEL shortages have intensified in recent weeks leading to debate over the sustainability of continuing to have the imported product sold in bond notes and the real-time gross settlement (RTGS) system or electronic dollars. ...

SUGAR manufacturer starafricacorporation reported profit before tax of $0,5 million in the six months to September from a loss position of $1,3 million in the prior year, driven by a reduction in costs and interest burden following the conversion of debt to equity by creditors. ...

BUSINESS has urged government to take a cautious approach to the reform process, warning that a big-bang approach may result in unintended consequences and plunge the country into further crises. ...

ZIMBABWE is undertaking research to improve its wheat yields in order to reduce reliance on imports, a Cabinet minister has said. ...

ZIMBABWE’S retail sector is seen picking up in the short-term as consumer spending is expected to firm up following Treasury’s timely payment of bonuses for civil servants this year. ...

BINDURA Nickel Corporation Limited (BNC) registered a 26% increase in profit after tax to $2,8 million in the six months to September, buoyed by firm mineral prices on the international market. ...

ONE of the biggest millers in the country, National Foods Limited (NFL) says it will today switch off its wheat milling machines, citing non-payment of its foreign suppliers, with the country facing possible flour and bread shortages as the foreign currency crunch continues to bite. ...

ZIMBABWE’s economy needs to grow by 7% in order to meet the sustainable development goals (SDGs), Ministry of Finance officials told Parliament yesterday. ...