Thursday, August 16, 2018
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...
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...
Kudzanai Sharara Quick services restaurant and international franchise Pizza Hut, which opened its doors early February says it has had a few issues with securing import permits amid overwhelming demand for its products. The company said it was “adjusting to doing business in Zimbabwe,” and has faced a few issues with...
Firm drained of working capital through externalisation New sands retreatment plant in false start Tinashe Makichi Gold mining group, Metallon Gold Corporation, has suspended mining operations at its Mazowe Gold Mine due to serious operational challenges. Information gathered indicates that despite announcing positive production and financial results for the past two years, the...
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...
Government has not yet received its 60 percent shareholding in Telecel International which it acquired from Dutch company Vimpelcom, as it has not made full payment, a Cabinet minister has said. In 2016, the government announced that it had reached an agreement with Vimpelcom to acquire its entire shareholding in...
Taurai Mangudhla Bindura Nickel Corporation says it will soon approach local banks to negotiate for $6 million funding facilities it requires to complete the reconstruction of its Trojan Nickel Smelter. Managing director Batirai Manhando said the Zimbabwe Stock Exchange listed company expected to secure the funding facilities by the end of...
Enacy Mapakame Agro- industrial concern, CFI Holdings Limited said its FY2018 focus would be on ensuring revival of operations at its two subsidiaries — Agrifoods and Victoria Foods that were put under judicial management. This will enable the two entities to take advantage of the positive sentiment in the economy that...
HARARE - The Civil Aviation Authority of Zimbabwe (CAAZ) says it has stopped collecting departure tax directly from passengers flying the national carrier, Air Zimbabwe to allow smooth flow of business at airports. The airports authority said it has also embarked on a drive to lure back airlines to fly...
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...