Companies

Companies

In charge of government infastructure...Minister july Moyo

ZNCC bemoans poor infrastructure budget allocations, poor management

By Alois Vinga ZIMBABWE National Chamber of Commerce (ZNCC) president, Tamuka Macheka has bemoaned poor budget allocations being devoted towards infrastructure development by government. He was speaking at a business meeting held recently. Macheka said if the problem was unaddressed, the country risked losing the much needed Foreign Direct Investment. He urged government and local

William Ponela

ZONFUL ENERGY’s solar systems to light up 80 percent homes in Bikita

By Alois Vinga LONDON Stock Exchange (LSE) listed company, ZONFUL ENERGY (ZE) has launched a massive solar system project aimed at lighting up almost 80 percent of households in Bikita in a development that will avail environmentally friendly source of energy to the area’s inhabitants. Speaking to NewZimbabwe.com Business recently, ZE founder and chief executive,

Finance Minister Mthuli Ncube

Ncube unveils tough tax regulations

By Alois Vinga FINANCE Minister, Mthuli Ncube has unveiled new Income Tax regulations compelling companies to disclose more details on transactions in what is aimed at smoothing the process of collecting tax. Under Statutory Instrument (SI) 109 of 2019 published in the latest Government Gazette, Ncube has with immediate effect introduced the new measures. “A

First Capital Bank completes IT Systems migration, targets market growth

By Alois Vinga FIRST Capital Bank chief executive, Sam Matsekete says that the transfer of Information and Technology systems from former franchise holders, Barclays Zimbabwe has been successfully completed. The development positions the fast growing financial institution to generate more business. Speaking at a shareholders meeting recently, Matsekete announced the milestone achievement saying that it

Delta Beverages's soft drinks plant has re-opened after closing due to foreign currency shortages earlier this year

Delta Beverages resume operations after Coca-Cola Company intervention

By Alois Vinga DELTA Beverages has resumed operations, after months of struggling to secure foreign currency required to restore full operations at the nation’s leading soft drinks manufacturer. In an interview with newzimbabwe.com Business, Thursday   the company’s corporate affairs executive, Patricia Murambinda revealed that production had kicked off athough at a very slow pace. “As

Mtikitiki appointed new GM for Coca-Cola East and Central Africa

By Alois Vinga THE Coca-Cola Company, has appointed Phillipine Mtikitiki as its new Franchise General Manager for East and Central Africa with effect from June 1 2019. Mtikitiki will be based in Nairobi, Kenya and has been appointed on the strengths of her experience in fast-moving consumer goods given her has a wealth of experience

Gold producers have been fighting government over foreign currency allocations

RioZim revenues down US$14 million as foreign currency shortages insist

By Alois Vinga GOLD mining giant, RioZim’s revenue went down US$14 million due to consistent foreign currency shortages. According to the mining company’s statement of financial results for the year ended December 31, 2018, revenue for the year declined 15 percent to US$75.4 million from US$88.9 million. “The group’s underperformance was due to low production

While tobacco merchants are arguing the golden leaf is now expensive, farmers argue they are getting a raw deal

Expensive tobacco leaf forces BAT to divert shareholder dividend

By Alois Vinga A 300% increase in  the price of tobacco has forced the British American Tobacco (BAT) to divert money which was meant to settle shareholder dividends, towards purchasing the golden leaf among other priorities in a bid to maintain sustainability. In an interview with newzimbabwe.com Business Tuesday, BAT managing director, Clara Mlambo said

Turnall chief executive officer Roseline Chisveto

Turnall Holdings seeks US$5million investment capital for expansion

By Alois Vinga TURNALL Holdings is making efforts to raise US$5 million to inject towards its expansion projects in strategic areas of potential. Officials said the development will result in more jobs being created and greater revenues to government. Speaking to newzimbabwe.com Business on the sidelines of an investment analysts tour Monday afternoon, Turnall Holdings

ECONET Wireless logistics unit, Vaya serving 100k customers weekly

By Alois Vinga VAYA, the transport logistics unit launched by Econet Wireless subsidiary, Cassava Smartech last October, is linking up over 100 000 urban customers weekly in a development signifying the concept’s effectiveness in meeting modern transportation needs. Speaking at the just ended Zimbabwe International Trade Fair, Cassava Smartech chief executive, Eddie Chibi expressed satisfaction

Strive Masiyiwa

Masiyiwa says to list Mascom on the Botswana stock exchange

Forbes.com STRIVE Masiyiwa, Zimbabwe’s richest man, has announced that his company, Econet Group, will list Botswana mobile network operator, Mascom, on the nation’s stock exchange later this year. Speaking at a press conference in Gaborone on Tuesday, Masiyiwa said that by October this year, he intends to list some of Econet’s Mascom shares on the

Delta halts Rusape Chibuku Plant construction due to forex shortages

By Alois Vinga LEADING beverages manufacturer, Delta Corporation has been forced to halt the Rusape Chibuku Plant construction as the entity cannot raise enough foreign currency to import key components needed for the project. The entity’s corporate affairs director, Alex Makamure told delegates at a Confederation of Zimbabwe Industries meeting recently on the situation at

NMB rakes in US$29 million through bank charges and commission fees

By Alois Vinga THE National Merchant Bank Zimbabwe Holdings Limited (NMB) has managed to rake in US$29 million through bank charges and commission fees. According to a statement revealing the financial institution’s Condensed Audited Consolidated Results for the financial year ending December 31 2018, NMB earned US$28.5 million through commission and fee income which became

First Mutual Properties acquires RTGS$2 million worth properties

By Alois Vinga REAL estate giant, Mutual Properties (FMP) has acquired RTGS$ 2 million worth properties as the group remains focused to boost its immovable assets portfolio going forward. The entity’s chairman, Elisha Moyo revealed the details on the acquisition which have stabilised the group’s immovable assets portfolio. “In line with the Group’s strategy to