Companies

Companies

Ex-VP Mphoko

Ex-VP Mphoko quits Choppies Supermarket

By Staff Reporter FORMER state Vice President Phelekezela Mphoko and family have finally quit Choppies Supermarkets Zimbabwe, bringing to an end a protracted battle for control of the Botswana owned retail giant between the parties. This was revealed in a press statement this week by lawyers representing the embattled ex-VP and son on one hand

Facebook to tighten political ad rules for 2019 elections

AFP Facebook said Tuesday it will tighten rules for political ads in countries with elections scheduled in the first half of the year, building on transparency efforts already underway in the United States, Britain and Brazil after a series of scandals. “As we prepare for major elections around the world this year, we’re continuing our

Ford, VW call off joint Detroit appearance to announce alliance

By AFP Automakers Ford and Volkswagen on Monday called off a joint appearance at the Detroit auto show set for the following day during which they were widely expected to announce an alliance. The two car giants have been in discussions over a partnership to develop self-driving and electric technologies. But a source close to

Huawei fires sales manager who Poland charged with spying

By Associated Press LONDON: The Chinese tech company Huawei on Saturday announced it has fired a sales director who was arrested in Poland and charged with spying for China, saying he has brought the firm’s reputation “into disrepute.” The company said it has “decided to terminate the employment of Mr. Wang Weijing, who was arrested

Coal mine collapses in northern China, killing at least 21

By Associated Press BEIJING: Twenty-one coal miners were killed when a mine collapsed in northern China, state media reported Sunday. The disaster occurred Saturday in Shenmu in Shaanxi province in the heart of the country’s coal-mining belt, according to state TV and the Xinhua News Agency. Sixty-six other miners were rescued, the city government said

Cooking oil shortage looms as top manufacturer Olivine shuts down

By Robert Tapfumaneyi ZIMBABWEANS must brace for a massive cooking oil shortage after the country’s leading manufacturer Olivine Industries Private Limited has shut down owing to operational challenges caused by foreign currency shortages. This was revealed in a press statement Friday by the company’s management. “The board of directors and management at Olivine Industries (Pvt)

Aliko Dangote

Aliko Dangote still Africa’s richest man – Forbes

Africa News Alhaji Aliko Dangote still maintains his spot as Africa’s richest man according to Forbes Magazine. The magazine disclosed that as at January 11, 2019, the 61-year-old was worth $9.9 billion. Forbes listed him as the number one on Africa’s list of billionaires for the year 2019. The Kano State indigene has held the

More distressed Zim companies ring alarm bells

FIN24 ONE of Zimbabwe’s biggest grocery wholesaler N Richards Group says it is losing up to 15% of turnover per day spent without accessing fuel for distribution. Speaking at a breakfast meeting organised by the Confederation of Zimbabwe Retailers, Thursday, N Richards director Archie Dongo said the fuel situation is dire and is threatening the

Lafarge Zim hires new chief as it battles to steady market share

Business Report Lafarge Zimbabwe has appointed a new chief executive to take charge of the company as it battles to steady market share in light of growing imports and rising competition from local rivals in a liquidity parched market. Kaziwe Siame Kaulule’s appointment as new chief executive took effect this month as he replaces Amal

Emirates appoints new head for Zimbabwe

By UK Bureau EMIRATES Airline has appointed a new manager for Zimbabwe, the Dubai-based airline confirmed Thursday. Nasser Bahlooq’s appointment was one of several across its Africa and Middle East operations. Bahlooq has previously managed the airline’s commercial activities in Yinchuan, China and most recently Yangon, Myanmar, where he supported the launch of the route

SAA starts to collect millions owed by Zimbabwe

By UK Bureau SOUTH Africa’s embattled flag-carrier is in discussions to recover millions of dollars owed by Zimbabwe for ticket sales. South African Airways (SAA) spokesman Tlali Tlali revealed earlier this week that Harare had started to make payments on the debt. Harare is believed to owe SAA more than US$7 million. “There are ongoing

BP approves expansion of Gulf oil project

By Associated Press NEW ORLEANS: BP has approved a $1.3 billion expansion at one of its oil projects in the Gulf of Mexico and discovered an additional 1.4 billion barrels at two of them. “BP’s Gulf of Mexico business is key to our strategy of growing production of advantaged high-margin oil. We are building on

Gold glitters for Zimbabwe despite gloomy outlook

Business Report Zimbabwe has surpassed its 2018 gold production target. Despite the production hiccups occasioned by foreign currency shortages and other currency woes that rocked Zimbabwe, bullion production from the country soared to 33tons in 2018, according to Fidelity Printers, the central bank unit solely mandated to sell gold. Major gold producers in Zimbabwe include

ZESA offers rewards to whistle blowers as thefts, vandalism spike

By Alois Vinga THE Zimbabwe Electricity Supply Authority (ZESA) has scaled up its fight against theft and vandalism on its infrastructure through offering rewards to whistle blowers who successfully expose criminals behind the rampant acts. In a weekend statement by its subsidiary Zimbabwe Electricity Transmission and Distribution Company (ZETDC), the company invited citizens to volunteer

Brewer Delta hikes prices after govt rejects move to charge in US dollars

By fin24.com Zimbabwe’s brewery giant, the Delta Corporation, has resorted to price hikes after its attempt to charge for its products solely in US dollars was rejected by the  authorities. The Zimbabwean government said the private sector should not rush to choose the currency they think the whole country should adopt. Delta, which is 40%

Acting President Constantino Chiwenga

Top brewer Delta abandons proposed US$ pricing under govt pressure

By Robert Tapfumaneyi ZIMBABWE’S leading beer and soft drinks manufacturer Delta Corporation Limited was Thursday forced to abandon its plans to start charging its products in US dollars following immense pressure by government. The company announced the development in a joint statement with central bank governor John Mangudya Thursday. “Delta withdraws the notice of selling

Strive Masiyiwa

Econet shareholder tussle breaks out; Masiyiwa’s stranglehold challenged

By Gabriele Steinhauser The Wall Street Journal   AFTER years of brutal hyperinflation, Zimbabwe became known as a place where cash was almost worthless. Now, investors are fighting over EcoCash, the country’s homegrown PayPal-like service that has zoomed into the economy’s cash void. Its parent company has become the target of a rare bout of shareholder

Apple sees further weakness in iPhone sales

By Associated Press SAN FRANCISCO: Apple warns that disappointing iPhone sales will cause a significant drop in its revenue over the crucial holiday season compared to earlier projections. CEO Tim Cook made the announcement after the market closed Wednesday. It embodies some of the worst fears of investors, who have been dumping Apple shares amid

Priscillah Mabelane

BP appoints first black female CEO

eNCA BP Southern Africa (BPSA) on Monday appointed chartered accountant Priscillah Mabelane as its new chief executive. Mabelane is the first woman in the history of the country’s oil industry to head a multi-national company, marking a significant milestone in the organisation and industry’s transformation journey. She will take the helm on 1 September, exactly

‘Zesa losing 3 transformers to thieves per night’

By Alois Vinga THE Zimbabwe Electricity Supply Authority (ZESA) says at least three of the power utility’s transformers were being stolen every night. This, according to ZESA public relations manager Fullard Gwasira, was contributing to erratic energy supplies in the country coupled with losses running in millions of dollars. Speaking to NewZim business on Sunday,