Business

Business

Canada miner in talks to buy Zimbabwe gold project

Bloomberg News B2Gold Corp. of Canada is considering buying an idled Zimbabwean gold mine — if it can be exempted from a law that requires producers to sell all the metal to the country’s central bank, people familiar with the situation said. Securing an exemption may open the way for further investment by gold producers

National Merchant Bank transactions up 18 percent

By Alois Vinga THE National Merchant Bank chief executive, Ben Washaya says that despite the subdued business environment in the country, transactional volumes at the financial institution have registered an 18 percent increase between February and April 2019. Speaking at the NMB Annual General Meeting Thursday, Washaya said that strategic decisions being implemented were bearing

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

Buy Zimbabwe urges inclusive research on expenditure patterns

By Alois Vinga BUY Zimbabwe (BZ) chief executive, Munyaradzi Hwengwere has urged government and other key stakeholders to conduct detailed research which will reveal the amount of money going towards purchasing locally manufactured products. Speaking at a function held to discuss issues affecting the uptake of locally manufactured products recently, Hwengwere underscored the need to

Zim’s refined platinum production up 1 percent

By Alois Vinga ZIMBABWE’s refined platinum production went up 1 percent in the first quarter of 2019, the World Investment Platinum Council (WIPC) 2019’s first quarter report has revealed. According to the council, supply of refined production went up 1 percent in the first quarter of 2019 up from minus 3 percent recorded in 2017.

ZSE pardons listed firms for failure to comply with IAS standards

By Alois Vinga THE Zimbabwe Stock Exchange (ZSE) has pardoned all listed companies which did not comply with the requirements of International Accounting Standard (IAS) during presentation of its latest financial results. ZSE appreciated the failure was triggered by government’s policies and was beyond their control. The equities market chief executive, Justin Bgoni announced recently

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

Power cuts: South Africa’s Eskom says ready to assist Zimbabwe

The South African Eskom has stated its intentions to assist Zimbabwe after their government was forced to institute load shedding this week. As reported by EWN, Naresh Singh, the acting general manager for Africa strategy at Eskom confirmed that because Zimbabwe was a client of theirs, they were obliged to assist if the request was

Godfrey Kanyenze

Top economist warns Ncube against ill-treating tobacco farmers

By Alois Vinga A top economist has warned Finance Minister, Mthuli Ncube against demoralising tobacco farmers through payment in the local RTGS currency as opposed to the more stable US dollar. Godfrey Kanyenze was speaking to NewZimbabwe.com recently following an unpopular decision by government to pay tobacco farmers part of their dues in the much

Tourism Minister Priscah Mupfumira

Zimbabwe targets Chinese tourism market

By Audience Mutema ZIMBABWE has set its sights towards tapping into the Chinese tourism market after opening a dedicated office in the Asian economic behemoth. The office manned by the Zimbabwe Tourism Authority was officially opened by Tourism Minister Priscah Mupfumira during a recent visit. Aimed at facilitating the growth of the sector, Mupfumira signed

GMAZ chairman Tafadzwa Musarara and Confederation of Zimbabwe Retailers president Denford Mutashu

Sadc runs out of grain, Zim turns to South America to avert hunger

By Leopold Munhende ZIMBABWE’s hunger troubles could worsen after it emerged no country in the Sadc region has surplus grain to sell. According to the Grain Millers Association of Zimbabwe (GMAZ) chairman Tafadzwa Musarara, Zimbabwe will now look to South America for salvation. He was briefing journalists at a joint press conference on industry self-regulation

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