Business

Business

BEVERAGE manufacturer, Delta Corporation has urged government to engage with stakeholders before major policy pronouncements to maintain market confidence. ...

Fast food franchise KFC has temporarily shut down its outlets in Zimbabwe citing foreign currency challenges and supply problems. ...

NEARLY 90% of raw materials and consumables used by the mining sector are being sourced offshore, an indication that the local manufacturing sector is in the doldrums, Industry and Commerce deputy minister, Rajeshakumart Modi has said. ...

ZIMBABWE yesterday took delivery of 3 000 tonnes of wheat, averting possible bread shortages, but millers warned that this was not enough to meet demand. ...

GOVERNMENT has been urged to de-dollarise only bank balances built after October 1 when bank accounts were separated into US dollar and real time gross settlement (RTGS) accounts, to protect people’s savings. ...

THE Zimbabwe Stock Exchange (ZSE) market capitalisation hit $16,7 billion on Tuesday, about 67% of the gross domestic product, as investors took shelter in equities to escape Zimbabwe’s currency crisis. ...

At a time the country is battling cooking oil shortages, oil producers say they have sufficient crude oil to meet demand. ...

GOVERNMENT has opened consultations with industry on rules of origin (RoO) for the ambitious African Continental Free Trade Area (AfCFTA) aimed at promoting duty-free flow of goods and services originating in the bloc. ...

THE Association of Healthcare Funders of Zimbabwe (AHFoZ) says medical aid societies and pharmacies have started demanding payment in United States dollars, compromising health, quality of life and labour productivity. ...

Government has dissolved the NetOne board. ...

The construction sector has urged government to engage local contractors in its major construction projects to avoid the drainage of foreign currency through foreign tenders, according to Zimbabwe Building Contractors Association (ZBCA) president, Ramson Nherera. ...

RIOZIM says its operations are under threat from a critical shortage of foreign currency to sustain and grow its business and has blamed these challenges on failure by the Reserve Bank of Zimbabwe (RBZ) to pay the gold producer price in foreign currency, crippling its operations. ...

ZIMBABWE’S trade deficit rose 28% to $1,6 billion over the period February to August 2018 from $1,25 billion recorded during the same period last year, further depleting the country’s precarious import cover, which has remained around two weeks since 2015. ...

The price of bread has gone up while transport fares have also moved northwards, a clearest sign of increased economic turmoil coming on the back of recent monetary ...

FINANCE minister Mthuli Ncube says government will accelerate the reform of State-owned Enterprises (SoEs) and parastatals, starting with quick hits such as TelOne, NetOne and the People’s Own ...

THE Zimbabwe International Trade Fair (ZITF) Company has opened more exhibition space for the Mining, Engineering and Transport (Mine Entra) expo taking place this week to accommodate more ...

Central African Building Society (Cabs) says it is focused on providing long-term finance and has already secured over $30 million in credit lines, which is ready for disbursement ...

Industry and Commerce minister Nqobizitha Ndlovu has challenged Zimbabwe’s manufacturers to adopt new technology and scale up innovation through increased research and development investments in order to boost ...

TELONE, a State-owned converged telecommunications company, has launched an entertainment streaming service, Digital Entertainment on Demand (DEOD), in partnership with South Africa’s Discover Digital. ...

GOVERNMENT is developing and implementing strategies to overturn unsustainable trade imbalance as it forges ahead with its efforts to make Zimbabwe an export-oriented economy, President Emmerson Mnangagwa has ...

Bulawayo City Council’s privatised Ingwebu Breweries requires $20 million in fresh capital for retooling and is looking for potential investors, acting managing director Johannes Gumbo has said. ...

THE Zimbabwe Congress of Trade Unions (ZCTU) has objected to the Insurance and Pension Commission (Ipec)’s proposal to regulate the National Social Security Authority (NSSA). ...

THE Zimbabwe Revenue Authority (Zimra) has potential to raise over $8 billion if it could achieve 100% tax compliance, over double the current rate, the Zimbabwe Coalition on Debt and Development (Zimcodd) has said. ...

THE monetary policy measures announced earlier this week could help strengthen currency and bring down parallel market rates as officially hoped. But they could also further undermine price stability and exacerbate the crisis, according to analysts. ...

Zimbabwe Stock Exchange-listed (ZSE) fast foods operator Simbisa Brands has launched Haefelis brand at the Chisipite Food Court in Harare, alongside other flagship brands, such as Pizza Inn, Creamy Inn and Chicken Inn. ...

Sugar milling company Hippo Valley achieved an operating profit of $17 million for the year ended March 31, 2018, up from $13,4 million in the prior year. ...

THE National Social Security Authority (NSSA) has extended a three-month amnesty to unregistered and defaulting employers to regularise their contributions. ...

THE People’s Own Savings Bank (POSB) will now be going public or be partially privatised through a private placement after government, the sole shareholder, approved a plan to carry out either of the transactions in a government gazette. ...

ZimTrade, the country’s trade development and promotion organization, today hosts its annual exporters’ conference and awards dinner in Harare, which focuses on building linkages and partnerships to grow exports. ...

GetBucks, a deposit-taking microfinance institution listed on the Zimbabwe Exchange, has reported a 25% growth in profit after tax in the first six months of the year, buoyed by a reduction in operating expenses and better repayment collection efforts. ...