Monday, October 15, 2018
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...
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...
Business Writer Hospitality concern, Rainbow Tourism Group (RTG) says continued foreign market growth, expenses rationalisation and balance sheet restructuring have set the group on a better financial footing with growths in the top line and occupancy being realised for the year ended 31 December 2017. The group’s revenue grew by 12...
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...