Companies

Companies

Social Media Helps Businesses Keep Afloat

Anadolu Agency AS the Covid-19 pandemic keeps closing down businesses and leaving people jobless, new survival strategies in Zimbabwe are offering a silver lining. Solomon Gumunyu owns Kitchen Boutique, a business venture, in the capital Harare. But due to lockdown restrictions, his shop is closed. But with social media came the boon for the 32-year-old.

SeedCo Dismisses Foul Play In Exiting ZSE

By Alois Vinga LISTED seed manufacturing giant, SeedCo International Limited (SCIL) has dismissed as false allegation of foul play after its recent decision to delist its local unit SeedCo Limited (SCL) from the Zimbabwe Stock Exchange (ZSE). The remarks come shortly after asset management company, Imara which has been investing in SeedCo Zimbabwe for over

Bar Owners Seek Lockdown Rent Amnesty

By Bulawayo Correspondent BULAWAYO liquor traders have pleaded with government to introduce a moratorium that would see them being exempted from paying rentals during the current Covid-19 induced lockdown. The dealers argue that the lockdown was threatening to push them out of business, more so, if they continued paying rentals while they were not operating.

Star Africa Records Stability Related Volumes Growth

By Alois Vinga LISTED sugar processor, Star Africa Corporation Limited (SACL) recorded significant sales volume growth across the main segments  on the strength of exchange rate stability among other factors.  Presenting a trading update recently for the quarter ended December 31 2020, SACL company secretary, Aldo Nusemburi said stability presented a number of advantages. “The

Schweppes To Set Up 2 700ha Citrus Plantation In Beitbridge

By James Muonwa Zimbabwe Stock Exchange-listed beverages giant, Schweppes Holdings Africa Limited, through it’s subsidiary Sunrise Citrus Estates, is planning to establish a 2 700-hectare citrus plantation in Beitbridge. Famed for it’s internationally acclaimed Mazoe Orange Crush brand, the company seeks to grow it raw material source for manufacturing of juices for local and foreign

Caledonia Mining Injects US$60m Into Shaft Sinking At Blanket Mine

Mining Review THE Blanket gold mine can truly be classified as a survivor. Formal mining operations started in the early 1900s. More than a century later, Blanket is still going strong with +1 Moz having been produced over its life from both fresh ore and tailings. Located 15 km north-west of Gwanda in Zimbabwe in

Nine lives...Henrietta Rushwaya

Henrietta Rushwaya Re-Instated As Zimbabwe Miners Boss

By Mbekezeli Ncube SCANDALOUS Zimbabwe Miners Federation (ZMF) President Henrietta Rushwaya, arrested last year after attempting to smuggle 6kg of gold to Dubai, has been reinstated as the organisation’s top boss after she was suspended last year. The nine-lives ex-ZIFA boss was suspended by the federation’s committee a few days after the arrest as they

SeedCo Exits ZSE

By Alois Vinga LISTED seed manufacturing giant, SeedCo International Limited (SCIT) has finally acquired 78% stake in its local unit SeedCo Limited (SCL) enabling the company to implement its exit from the Zimbabwe Stock Exchange (ZSE). Recently, SCIL said the rationale for the offer was premised on a strategic response to the changes in the

BNC Registers 9 % Tonnage Increase

By Alois Vinga LISTED miner, Bindura Nickel Corporation (BNC) has registered a 9 % tonnage output increase among other major improvements in the last quarter of 2020. This week, the group’s company secretary, Conrad Mukanganga revealed that there has been a 20% improvement in development metres achieved at 355 metres. “Tonnes mined increased by 9

Finance Minister Mthuli Ncube granted the tax exemption

Great Dyke Investments’ Half Decade Tax Holiday Challenged

By Alois Vinga DARWENDALE platinum miner, Great Dyke Investments’ five-year tax reprieve granted by government recently, now hangs in the balance following an urgent chamber application filed against the controversial policy directive. The mining entity is a joint venture between Russia’s Vi Holdings and Zimbabwe’s Landela Mining Venture (Pvt) Limited and is investing US$3 billion

Bid To Save Greyhound From Collapse

SABC Greyhound bus service has acceded to the union’s request to halt plans to close its operation. The bus company will now apply for the Commission for Conciliation, Mediation and Arbitration (CCMA) facilitation of Section 189. Earlier this week, Greyhound owners Unitrans announced that its Greyhound and Citiliner bus operations will stop on the 14th

Ariston Holdings Banana Production Up 65 % Due To Good Rains

By Alois Vinga LISTED agricultural concern, Ariston Holdings has registered a 65 % surge in banana production alongside good yields on other crops on the backdrop of a good rainy season. Presenting a trading update for the first quarter ended December 31 2020, Ariston Holdings company secretary Aquiline Chinamo said good rains have spurred the

Nampak Suffers Volumes Decline

By Alois Vinga PAPER and packaging group, Nampak Zimbabwe suffered significant volumes decline across its business units attributed to the harsh Covid-19 impact on the local economy in the past year. Presenting the group’s performance for the period ended September 30 2020, the group managing director, John Van Gend said the pandemic’s impact took a

Multichoice Zimbabwe Promises Sumptuous DStv February Viewing

By Alois Vinga MULTICHOICE Zimbabwe has urged viewers not to miss the opportunity to view great content on M-Net which ranges from new series, returning favourites to reality shows and blockbusters. Speaking to NewZimbabwe.com Tuesday, MultiChoice Zimbabwe, publicity and public relations manager Liz Dziva said after hitting the ground running last month, this February will

CFI Remains Under ZSE Suspension

By Alois Vinga AGRO-INDUSTRIAL group, CFI Holdings Limited remains under the Zimbabwe Stock Exchange trading ban but is optimistic that authorities will grant permission allowing the group’s shares to resume trading. ZSE suspended the company’s shares in 2018 after failure to comply with listing requirements. According to the listing rules, a company is obligated to

Negative Social Media Publicity Vexes Batoka Gorge Electricity Custodians

By James Muonwa, Mashonaland West Correspondent THE successful roll-out of the long-awaited 2 400 megawatt Batoka Gorge Hydro-Electricity project is under threat amid claims of a a sustained social media blitz to disrupt it. Online campaigns by concerned stakeholders opposed to the implementation of the proposed power scheme have allegedly gone into overdrive. This has

OK Zimbabwe Hails Exchange Rate Stability, Achieves 27% Revenue Growth

By Alois Vinga LEADING retail chain, OK Zimbabwe has hailed the current exchange rate stability and improved foreign currency availability for boosting its operations leading to a 27% growth in revenue. The growth in revenue was recorded April to December 31 2020. Presenting a trading update for the period under review, OK Zimbabwe secretary Margaret