Companies

Companies

Mines Minister Winston Chitando

Mining Workers Petition Govt Over Being ‘Turned Labourers’

By Staff Reporter MINE workers have petitioned government over what they feel were unfair labour practices by employers who have virtually turned them into mere labourers operating on short-term contracts. In a letter to government recently, the Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) said the casualisation of labour has become rampant among Zimbabwean

Food Sector Employees Slam ‘Selfish’ Employers Over Wages

By Alois Vinga FOOD sector workers have slammed their employers for agreeing to salary increments they claimed were still far below the current Total Consumption Poverty Lines (TCPL). The workers say the proposed wages were inconsistent with the huge US dollar rated profits being generated by companies. Addressing delegates at the Bakers and Allied Workers

Luke Ngwerume

Axia Credits Stable Exchange Rates For 28 % Volumes Growth

By Alois Vinga LISTED specialty retail distribution group, Axia Corporation has credited stable exchange rates and improved foreign currency supplies for spurring the 28 % volumes growth recorded in the second half of last year. This comes after the Reserve Bank of Zimbabwe (RBZ) introduced the Foreign Exchange Auction last year, creating a competent market

Zim Tobacco Buyers Need Vaccination Proof For Licence

Staff Reporter/Bloomberg Zimbabwe’s tobacco regulator requires buyers of the crop to be vaccinated against the coronavirus before a license for the 2021 season that starts April 7 is issued. “We want to make the tobacco markets a place of safety as far as Covid-19 is concerned,” Patrick Devenish, the Tobacco Industry and Marketing Board chairman,

Zim Set To Get 50 MW Of Electricity From Chinese-Zim Joint Venture

Xinhua A joint venture coal-fired power station being built by Chinese investors and their Zimbabwean counterparts in Hwange will see the feeding of 50 MW of power into the national grid in the next two months, a company official has said. The coming on stream of the plant will help ease power shortages which have

Some of the best students pose for a group photo Friday

CCAZ Calls For Improved Consumer Care As 50 Students Graduate In Customer Management

By Ndatenda Njanike THE Customer Contact Association of Zimbabwe (CCAZ) Friday called upon all businesses to at all times practice customer excellence as it was core to the growth of companies. This was said by CCAZ president, Lance Mambondiani while speaking to NewZimbabwe.com on the sidelines of the colourful Chartered Institute of Customer Management (CICM) graduation

Pearson Gowero

Gowero Steps Down As Delta Corporation CEO

By Alois Vinga LISTED beverages manufacturer, Delta Corporation’s chief executive Pearson Gowero has stepped down on retirement after spending over two decades with the group. The veteran administrator was appointed as the CEO in June 2012, having joined the Group in March 1997. He started at Chibuku Breweries in marketing and rose to become the

INNSCOR Hails Prevailing Exchange Rate Stability

By Alois Vinga DIVERSIFIED light manufacturing concern, INNSCOR Africa Limited has hailed the prevailing exchange rate stability for enabling pricing efficiency prompting the group to declare $1.10 dividend payout. In a recent update the group’s chairman, Addington Chinake said the economic environment during the period remained relatively stable, with a marked reduction in inflation and

Afdis Appoints Stanley Muchenje As New Managing Director

By James Muonwa AFRICAN Distillers (Private) Limited has announced the appointment of Stanley Muchenje as the new substantive managing director (MD). The appointment is effective 1 April 2021. He replaces Cecil Gombera who retires from the cane spirit beverages manufacturer at the end of this month. Afdis board chairman, Pearson Gowero notified of the new

First Capital Bank Maintains Strong Capital, Liquidity Position

By Alois Vinga LEADING financial institution, First Capital Bank (FCA) has managed to sustain a sound capital, liquidity position and a quality loan book for the period ended December 31, 2020. The achievement was realised through the application of strategic management practices which respond to the obtaining economic dynamics. In an update this week, FCA

Todd Moyo

National Foods Stability Related Growth Model Pays Dividends

By Alois Vinga LISTED agri-industrial concern, National Foods Holdings Limited (Natfoods) has realised sales improvements after recently adopting stable exchange rate related sales growth. This has prompted a dividend pay-out of $80 per share amid plans to further exploit recovering market fundamentals. Unstable exchange rates rose to unsustainable levels before the introduction of the Foreign

Zimbabwe To Seize AfCFTA Opportunity For Women Empowerment

By Alois Vinga ZIMBABWE aims to take advantage of the forthcoming Africa Continental Free Trade Area (AfCFTA) through prioritising women’s economic empowerment in order to achieve economic growth. AfCFTA is the brainchild of the African Union and was initiated in 2012 with the objective of establishing a single trading bloc which enjoys lowered trade barriers

Afids chairperson Pearson Gowero

Stable Exchange Rate Gives African Distillers 39% Growth

By Alois Vinga THE current relatively stable foreign exchange market has prompted a 39% total volumes growth for leading wine and spirits maker, African Distillers limited (Afdis). Presenting the group’s performance for the period ended December 31 2020, Afdis chairperson, Pearson Gowero attributed the volumes growth to stable exchange rates and improved foreign currency supplies.

Strive Masiyiwa

Strive Masiyiwa Sees DPA’s Growth Surpassing Econet, Liquid

By Alois Vinga OPTIMISTIC business magnet, Strive Masiyiwa sees his Kenyan renewable business, Distributed Power Africa’s (DPA) growth surpassing the other two reputable brands, Econet and Liquid. He made shortly after DPA sold 50% of its Kenya business to a leading French energy group EDF, which is an influential global brand. In a recent update,

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China’s Tsingshan To Build Iron Ore Mine, Steel Plant In Mvuma

Reuters CHINA’S Tsingshan Holding Group is set to start developing an iron ore mine and a carbon steel plant in Zimbabwe from May, the African country’s information minister said late on Tuesday, three years after the firm first announced the investment deal. Tsingshan signed a $1-billion outline agreement with Zimbabwe in June 2018 to build