Saturday, September 22, 2018
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...
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...
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...
Golden Sibanda Riozim Limited intends to sell majority shareholding to an investor who wins its tender to construct an ambitious long-standing $1,2 billion thermal power station in Sengwa, Gokwe North, according to company sources. The Zimbabwe Stock Exchange (ZSE) listed company has been scouting for investors for the project since the...
Business Writer Delta Corporation’s net earnings are expected to jump 16 percent to $103 million in the financial year 2019 on anticipated volume growth, despite competition from Pepsi, which is likely to cut the group’s market share, according to forecasts by analysts. Indian Varun Beverages, manufacturers of Pepsi, broke ground for...
Kudzanai Sharara The country’s biggest brewer Delta Corporation, reported significant growth in both volumes and revenue for the year ended March 31, 2018, but the out-turn could have been more had the brewer not experienced interment product supply shortages as a result of limited access to foreign currency for the...
Kudzanai Sharara Diversified investment holding company, Brainworks Capital, which has operations in the hospitality and leisure industry, is expecting improved business performance for the 2018 financial year following a better than expected first quarter of the year in which most of its city hotels were fully booked. Brainworks CEO Brett Childs,...
Africa Moyo Former Telecel Zimbabwe CEO Francis Mahwindi, who was fired in 2013, has bounced back at the telecommunications firm, this time as a board member. Mahwindi left Telecel amid official reports that he wanted to “pursue other opportunities outside the group”. However, sources then alleged that he had turned down...
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...
Enacy Mapakame Five major global investors are vying to partner listed resources group RioZim Limited for its apparently lucrative multi-billion Sengwa thermal power project, management has said. Interest in the project, estimated to cost $1,2 billion in the first of four phases, comes after Government relaxed indigenisation laws as part of...