Thursday, August 16, 2018
Business Writer Time Bank has been given the green light to resume operations if it meets certain conditions required before re-opening, the Reserve Bank of Zimbabwe has said. The Reserve Bank and Time Bank of Zimbabwe Limited have historical disputes, which have been the subject of litigation. During this period, Time...
Enacy Mapakame Beverages giant, Delta Corporation Limited has said foreign currency shortages continue to have a knock on effect on its business especially packaging material, although earnings were positive in the first quarter to June 30, 2018. The current operating environment, though with a positive sentiment and outlook, is still constrained...
Business Writer Spirits and wine maker, African Distillers (Afdis) says demand for its products during the half-year period ended 31 December 2017 was firm, but due to foreign currency challenges the company experienced inconsistent product supply in the market. In a statement of the financials, the company’s chairman Pearson Gowero said...
Tinashe Makichi Businessman Tawanda Nyambirai is set to invest $12 million in Arcturus Mine, which he acquired from Metallon Gold Zimbabwe, amid revelations he is planning further investments into mining with exploration for Greenfield projects in Kadoma already underway. Arcturus Mine had been under care and maintenance after running into a...
Kudzanai Sharara Zimbabwe Stock Exchange listed entity Lafarge Cement is looking for a strategic business partner for its special products segment where it seeks to grow existing brands as well as introduce new product lines. Lafarge has been producing cement and lime-based products as part of its diversification strategy to boost...
BH24 Reporter HARARE - Avanti Communications Group Plc (Avanti) has signed a HYLAS 4 Master Distributor contract with iWayAfrica. Avanti is a leading satellite operator and provider of satellite data communications services in Europe, the Middle East and Africa, while iWayAfrica is a pan-African service provider proving telecommunication solutions across the...
Kudzanai Sharara The country’s digital services giant Econet Wireless Zimbabwe, this week reported its results for the year ended 28 February 2018 showing phenomenal growth in its profits which were up by 265 percent from what was achieved in the comparable prior year. Profit after tax for the group grew to...
Business Writer The Industrial Development Corporation (IDC) has sold its 15 percent stake in Scaw Metals Group's Grinding Media, South Africa, to a United States of America firm, Magotteaux International as it seeks to cut spiralling losses. Scaw Metals owns Haggie Rand in Zimbabwe. Haggie Rand is one of the oldest...
Martin Kadzere Olivine Industries Ltd, a local unit of Wilmar International, has embarked on a $24 million plant upgrade, as it seeks to expand its food portfolio with new products. Wilmar, which holds a 65 percent controlling equity in Olivine through its local subsidiary Surface Wilmar Investments, also owns 95 percent...
Tawanda Musarurwa Zimbabwe’s largest financial institution, CBZ Holdings’ seems to be hitting all the right notes with its diversified financial services as first quarter numbers reflect have risen significantly. Acting CEO Peter Zimunya, told shareholders recently that the group was “pursuing a strong diversification strategy to broaden and stabilise earnings.” At the...