Friday, June 22, 2018
Golden Sibanda The National Social Security Authority will soon engage its investment ally in Zimbabwe Stock Exchange listed agro-industrial, CFI Holdings, to decide the fate of their investment in the group. NSSA chairman Robin Vela told Business Weekly this week that NSSA would sit down with its shareholding ally in CFI...
Scheme of arrangement rescues the company Restocking of outlets underway Martin Kadzere One of Zimbabwe’s oldest furniture firms Pelhams has started re-opening its branches across the country after TN Harlequin, one of its creditors and sister company, undertook to bailout the company to avoid liquidation. Pelhams was delisted from trading on the Zimbabwe...
Enacy Mapakame Paper and packaging group Nampak Zimbabwe Limited’s turnover for the quarter to December 31, 2017 was 16 percent above comparable period prior year on firming demand especially for its beverages related packaging products. Group managing director John Van Gend said the group has benefited from growth in export orders...
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...
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...
Kudzanai Sharara For years, Padenga’s operations have been modelled around the steady supply of 46 000 or so premium quality Nile crocodile skins to high end luxury brands globally. In recent years, alligator skins for watch-band size and medium size, have also been added to the product range that also includes...
HARARE - Zimbabwe’s 2018 tobacco selling season is set to begin around April, two months late compared to the  aditional February opening because the crop is not yet ripe, the  Tobacco Industry and Marketing Board (TIMB) said on Saturday. TIMB public relations and communications manager Isheunesu Moyo told New Ziana that...
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...
Strong performance across Art Corporation’s divisions propelled the group to a solid performance during the year ended September 30, 2017, reinforced by the phased recapitalisation and re-tooling of operations. The company’s chief executive Milton Macheka told an analysts briefing on Monday that while business was impacted by foreign currency challenges,...
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...