Business

Business

Chepkemoi Magdaline, founder and executive director of EldoHub

ECA, ICC Launch Centres of Entrepreneurship In Africa

By Staff Reporter THE Economic Commission for Africa (ECA) and the International Chamber of Commerce (ICC) have jointly launched Centres of Entrepreneurship in Africa, under the theme, ‘Creating Livelihoods for Inclusion’. With strategic locations across Africa, the ECA – ICC Centres of Entrepreneurship will work with various stakeholders, including businesses, chambers of commerce, academic institutions,

File Image: Bulawayo CBD

Bulawayo Council In New US$2m Vehicle Parking Venture

By Bulawayo Correspondent TENDY Three Investments, a local company awarded a US$2 million tender for vehicle parking management in Bulawayo will start collecting parking fees from motorists before the end of the year. The company was recently awarded a tender for the vehicle parking management is partnering with the Bulawayo City Council in the project.

ZBFH Profits Decline

By Alois Vinga LISTED financial services group, ZB Financial Holdings (ZBFH) has seen a huge decline in both profit margins and net income largely owing to the decrease in fair value credits among other factors. Presenting the group’s performance for the six months ended June 31, 2021, ZBFH’s newly appointed chief executive, Shepherd Fungura said

First Mutual In $1b Loss Due To External Factors

By Alois Vinga FIRST Mutual Holdings Limited (FMHL) experienced a loss totaling $1 billion due to external factors which include fair value loss on property investments and higher claims ratio. Presenting the group’s 2021 first-half report FMHL chairperson Amos Manzai said despite net investment income surging to $1,7 billion and an increase of 79% against

Charlene Chibonda CICM Regional Training Manager holding the 2021 National Customer Satisfaction Index copy

Chartered Institute of Customer Management Releases Fifth Customer Satisfaction Index

By Makanaka Masenyama THE Chartered Institute of Customer Management (CICM) has released the fifth edition of the Zimbabwe National Customer Satisfaction Index Report (ZimCSI). The report was released during an Executive Customer Experience Symposium Thursday under the theme “Plan, measure and successfully manage customer/citizen experience”. The ZimCSI is a national indicator of how companies are

Dandemutande CEO Never Ncube

Dandemutande, Facebook Partner To Bring Express Wifi Service

By Alois Vinga A LOCAL technology company, Dandemutande Investments has partnered with Facebook Connectivity to launch Express Wi-Fi services in Zimbabwe. The Wi-Fi hotspot service, running under the brand, “Express Wi-Fi by Facebook”, will enable Dandemutande to deliver internet connectivity over Facebook’s feature-rich Wi-Fi management platform. It includes online voucher purchases, reseller management, network optimisation,

NSSA Dismisses Foul Play In FML Stake Disposal

By Alois Vinga NATIONAL Social Security Authority (NSSA) has dismissed allegations being levelled against it by key stakeholders that there is foul play in the disposal of its 35 % stake in First Mutual Life (FML). NSSA maintains the deal was done above board. This comes after the Zimbabwe Congress of Trade Unions (ZCTU) President, Peter

BNC Yearly Capital Expenditure Gobbles US$8,9 Million 

By Alois Vinga BINDURA Nickel Corporation (BNC) gobbled a whooping US$8,9 million on capital expenditure (CapEx) projects despite the company recording a decline in production output in a development proving that the nickel miner has long term plans in the sector. CapEx are funds spent by a firm to acquire, upgrade, and maintain physical assets

Positive Response To PSMAS Chronic Medicines Programme  

Own Correspondent PSMAS members with chronic conditions are positively responding to the call to register following the successful launch of the Chronic Medicines Programme on 1 September 2021. The programme is an initiative aimed at improving access to medications and health outcomes for PSMAS members with chronic medical conditions PSMAS is dedicated to managing chronic

Vundla Appointed Edgar’s Group CFO

By Alois Vinga SEASONED accountant, Happiness Vundla, has been appointed the Edgar’s Group Chief Finance Officer on the strength of sound qualifications and experience. In an update this week, Edgar’s board chairman, Themba Sibanda said the incoming CFO is a Chartered Accountant with over 14 years’ experience in public practice, who joined the Edgars Group 

NMB Total Deposits Grow 22%

By Alois Vinga LISTED financial services provider, NMB Bank, has seen total deposits registering a 22 % growth at the back of good financial performances despite the odds presented by Covid19. Presenting the bank’s performance for the first half of 2021, NMB Bank chief executive officer, Ben Washaya said aggressive banking strategies prompted the deposits

Pro Plastics Sales Up 240%

By Alois Vinga ZIMBABWE’s biggest pipe products producer, Pro Plastics has recorded a 240% increase in export sales amid a resilient performance in the first half of 2021. The company has been pursuing a vigorous export sales strategy over the last years and the efforts have been sustaining an upward trend in the sales category.

RBZ governor John Mangudya

RBZ Auction Allotments Overtakes Interbank Market By 27 %

By Alois Vinga RESERVE Bank of Zimbabwe (RBZ) auction system’s foreign currency allotments have surpassed Interbank market payments by 27%, a development which proves that the auction platform has become a dependable source of foreign currency for companies. An update released by the central bank Sunday shows that between June 2020 and August 2021, a

RBZ Governor John Mangudya

Foreign Currency Deposits Sustain Upward Trend: RBZ

By Alois Vinga FOREIGN currency deposits continue to sustain an upward trend reaching $127.5 billion in May 2021 partly on the back of deep economic reforms which are restoring confidence in the banking sector. The latest Reserve Bank of Zimbabwe (RBZ) monthly economic review covering the month of May 2021 shows that foreign currency accounts

Finance Minister Mthuli Ncube

Seeking To Change Deadbeat Image, Zimbabwe Pays Debt

AFP AFTER 20 years of not paying its debts, Zimbabwe is taking steps to clean up its balance sheet and its image by making payments to major creditors. Even if admittedly token amounts, the government hopes they will build goodwill towards Zimbabwe. Finance Minister Mthuli Ncube announced during a video conference this month that Zimbabwe

Govt Warned Over Continued Fuel Hikes

By Alois Vinga AN economist Prosper Chitambara has warned the government against continued fuel price increases highlighting that such acts are a thorn in the flesh of current efforts to stabilise the economy. He made the remarks shortly after the Zimbabwe Energy Regulatory Authority (ZERA) increased the prices of petrol and diesel this week. In

Precious Murena-Nyika

Lafarge CEO “Fired” After 18 Months At The Helm

By Alois Vinga LISTED cement manufacturer, Lafarge Cement Zimbabwe (LACZ) chief executive (CEO), Precious Murena-Nyika has stepped down  unexpectedly amid suspicion that she has been fired. Announcing the departure Friday, the group’s board chairperson, Kumbirai Katsande said the outgoing CEO will be pursuing other interests. “After a career spanning 10 years of service, with 18 months

Cybercrime: A Risk Factor That Can Jeopardise Africa’s Economy

By Staff Reporter CYBERCRIME is one of the top risk factors likely to jeopardise Africa’s economy especially at this time when the continent is transitioning to E-commerce under the Africa Continental Free Trade Area (AfCFTA). That’s according to panelists at a Book Talk hosted by the Economic Commission for Africa (ECA) last week. The “Book Talk”

Zim to host 2021 Sanganai/ Hlanganani expo virtually

By Alois Vinga ZIMBABWE is set to host this year’s edition of the Sanganai / Hlanganani – World Tourism Expo virtually amid expectations to recruit more international buyers. In a statement Zimbabwe Tourism Authority (ZTA ) acting chief executive officer, Givemore Chidzidzi said the just-completed enhancements on the authority’s virtual system to include an ‘on-demand”