Rainbow Towers Group

Rainbow Tourism Room Occupancy Up 4%

By Alois Vinga LISTED second-largest hotelier, Rainbow Tourism Group (RTG) has recorded a 4% increase in room occupancy including lucrative profit margins. The hotelier has attributed the attractive returns to currency stability in the country and bullish management practices which defied the odds of the global Covid-19 pandemic. Presenting the half-year performance of the group for the period

Zvenyika Zvenyika Appointed Fidelity Life Acting CEO

By Alois Vinga LISTED financial services company, Fidelity Life Assurance (FLA) has appointed seasoned accountant, Zvenyika Zvenyika to the post of acting chief executive. The appointment is with effect from October 1, 2021. He takes over from outgoing CEO Rueben Java who leaves the post after resigning while the group finalises the appointment of a

Premier Service Medical Investments: Q & A

By PSMI Question and Answer with Obey Nhakura PSMI Senior Manager Business Performance Measurement Introduction: We are joined by the PSMI Senior Manager Business Performance Measurement, Obey Nhakura. As you may be aware, owing to the Covid-19 pandemic that has resulted in loss of millions of lives across the whole world, putting the healthcare service providers at

PSMAS Rebranding Bears Fruit

THE Premier Service Medical Aid Society (PSMAS) has undergone massive rebranding over the past few years in its quest to maintain its position as an industry torch bearer. (NZ) this week caught up with PSMAS Managing Director, Dr Nixjoen (NM) Mapesa at the PSMAS ZITF stand as they exhibit their recent innovations. They are

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

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 

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

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”

BAT Attributes Loss Decrease To Zim dollar Stability

By Alois Vinga LISTED cigarette manufacturer, British American Tobacco (BAT) has said the sustained Zimbabwe dollar stability has enabled the firm to record a $264,9 million loss decrease in the midst of volume increases. Presenting the company’s financial performance for the period ended June 31 2021, BAT chairman, Lovemore Manatsa hailed the policy measures implemented

First Capital Bank Declares 5 Cents Per Share Dividend

By Alois Vinga TOP financial services provider, First Capital Bank Limited Zimbabwe, has declared a 5 cents per share dividend payout which will be paid out before the end of September 2021. In a recent update, the firm’s acting company secretary, Sarudzai Binha said the payouts will be paid out within the next two weeks.

FBC chairperson Herbert Nkala

FBC Scales Up Digitalisation

By Alois Vinga LISTED financial services concern, FBC Holdings Limited has scaled up its digitalisation programmes in a bid to meet transforming customers’ needs amid good financial performance on the back of sound economic fundamentals. Presenting the group’s performance for the half-year ended June 30, 2021, FBC chairperson Herbert Nkala said the digitalisation programmes have

CBZ Bank Introduces Payday Loans

By Own Correspondent CBZ Bank has introduced an instant loan facility called Payday loan. The facility is open to CBZ clients and is disbursed within 24 hours. CBZ Bank introduced the product after realisation that clients require bridging finance to cover immediate financial emergencies. There are many reasons to get a Payday loan like an