Companies

Companies

ZAA founder Conrad Mwanza

9th Anniversary ZAA UK Nominees Out

By Business Reporter The Zimbabwe Achievers Awards UK (ZAA UK) have released the much anticipated list of nominees for the 9thAnniversary ZAA UK event set for Saturday 25 May 2019 in London at The Millennium Gloucester Hotel, London, 4-18 Harrington Gardens, Kensington, London SW7 4LH. The list features nominees from the fields of academics, business,

Old Mutual

Old Mutual registers 36 percent profit increase

By Alois Vinga THE Old Mutual group has recorded a profit increase of 36 percent in the financial year ending December 31 2018 owing to growth in total revenue, chairman Johannes Gawaxab has revealed in a statement. The increase in tax has seen a significant jump as compared to the group’s previous financial year. “Profit

Fresh trouble for Zisco

ZIMRA garnish Ziscosteel accounts, ex-workers wallow

By Staff Reporter THE Zimbabwe Revenue Authority (ZIMRA), has reportedly garnished the accounts of the former integrated steel works giant Ziscosteel. In 2017 former Ziscosteel employees started receiving part of the RTGS$38 million windfall availed by government as part of their outstanding salaries backdated to 2009 after agreeing to settle the former workers’ arrears in

Edgars projects 35 percent turnover growth

By Alois Vinga LEADING clothing retail outlet, Edgars Stores Limited has set an annual revenue turnover target of 35 percent having recorded a profit of RTGS$8 million after tax for the 52 weeks ending January 6, 2019. Addressing stakeholders Wednesday, Edgars group Managing Director, Linda Masterton said the firm posted RTGS$11 513 275.00 million in

Econet hikes call tariffs to 22 cents per minute

By Alois Vinga LEADING mobile telecoms operator, Econet Wireless has increased mobile call tariffs to 21 cents (($0.21257) per minute, up from around 16 cents while per-second charges now stand at 0.0036 cents which will come into force on the first of April. Econet’s Media Relations and Analytics Executive, Fungai Mandiveyi told NewZimbabwe.com that Fixed

Dairiboard chief executive officer Antony Mandiwanza

Dairiboard finally pulls out of Malawi dairy, losses cited

By Alois Vinga LISTED Zimbabwe food manufacturer, Dairiboard Holdings Limited Zimbabwe(DHLZ)  is pulling out of Malawi, it has been learnt. Anthony Mandiwanza, DHLZ chief executive, revealed that the decision to pull out of Zimbabwe’s north eastern neighbour was reached after realising that there is no capacity to internally inject fresh capital to turnaround the subsidiary.

Poultry feed firms probed for forcing customers to buy chicks with feed

By Alois Vinga THE Competition and Tariff Commission (CTC) has launched an investigation into reports that poultry sector related companies compelled customers to purchase stipulated quantities of feed as a condition to buying day-old chicks. The investigation launched under General Notice 448 of 2019 published in the latest Government Gazette. The probe is being carried

Strive Masiyiwa

Masiyiwa to reacquire stake in Botswana’s Mascom Wireless

By Alois Vinga MOBILE telecoms mogul, Strive Masiyiwa’s Econet Wireless (Pty) Ltd is set to re-acquire stake in one of Botswana’s leading mobile phone service providers, Mascom Wireless. This was confirmed recently by the Mascom’s current major shareholders, MTN. Mobile network giant, MTN which currently enjoys 53 percent stake in Mascom Wireless, is disposing its

Cyclone Idai: Zympay cash, grocery initiative cuts unscrupulous middlemen

By Staff Reporter UNITED Kingdom headquartered cross border payment enabler, Zympay Limited has teamed up with Zimbabwe based wholesaler, Gain Cash & Carry to facilitate the transparent delivery of cash and material donations towards victims of the recent Cyclone Idai that has caused massive death and desperation in Zimbabwe. Zympay has developed a unique, direct

Strive Masiyiwa

Strive Masiyiwa’s Econet donates RTGS$5 million towards Cyclone victims

By Business Reporter STRIVE Masiyiwa’s Econet Zimbabwe and its subsidiary companies have extended a RTGS$5 million assistance for victims of the deadly Cyclone Idai in Manicaland. The fund will be disbursed through Higher Life Foundation, a charity organisation founded by Tsitsi Masiyiwa, wife to the tycoon, to assist the under-privileged. The foundation’s chief executive, Doctor

Callisto Jokonya

ZIMRA workers blast ‘arrogant’ new board chair Jokonya

By Alois Vinga ZIMBABWE Revenue Authority and Allied Workers Trade Union (ZIMRATU) employees have registered dissatisfaction over the newly appointed board chairperson, Callisto Jokonya for allegedly describing all staffers as corrupt, using provocative language and usurping management functions. In a statement released Tuesday, ZIMRATU described Jokonya as “lacking leadership qualities” and not experienced enough to

Minister Jorum Gumbo

New ZESA board appointed, tasked to end corruption in the parastatal

By Alois Vinga ENERGY Minister, Joram Gumbo Tuesday unveiled a new seven-member ZESA management board which has been tasked to end corruption in the state enterprise and implement the recently completed forensic audit recommendations, among other functions. Announcing the appointments Monday afternoon, Gumbo said the occasion had come at an opportune time when ZESA Group

Tafadzwa Musarara

Cyclone disrupts wheat transportation from Beira – GMAZ boss

By Anna Chibamu GRAIN Millers Association of Zimbabwe (GMAZ) chairman, Tafadzwa Musarara says the recent Cyclone Idai which battered parts of Mozambique and Zimbabwe’s eastern region has disrupted the transporation of wheat from the Mozambican port city of Beira. Under the current wheat shortages caused by the forex crunch however, Musarara said, his organisation has

Isabel dos Santos

Africa’s richest woman to be ousted at Angola telecoms company

Fin24 Africa’s richest woman is set to be ousted from the helm of Angola’s biggest telecommunications company as shareholders meet Tuesday to discuss corporate governance in the wake of legal action by one of its biggest investors. The meeting at Unitel SA, whose chairwoman Isabel dos Santos owns 25%, comes after an arbitration court ruled