Tuesday, November 13, 2018
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,...
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...
--- To hold investor round-table next week --- Targets regional, global financiers Martin Kadzere --- Zimbabwe has developed a framework that will help it issue debt instruments that finance projects considered climate-smart, officials involved in the matter have said. The instruments, commonly known as “green bonds", have emerged in recent years as...
Tinashe Makichi --- Local milk processor, Dendairy, has started conducting feasibility studies for the establishment of a solar system, which is expected to power at least 30 percent of the company’s processing facilities. Dendairy Limited produces dairy products that include full cream milk, low fat milk, maas , long life milk,...
Tinashe Makichi --- Asa Resource Group Plc has received a separate conditional offer from a publicly listed company to acquire the company’s 100 percent shareholding in ASA Headco Ltd, which owns all of the company's material assets. The joint administrators for the company believe that shareholders will get significantly more from...
--- Company sees surge in nickel prices  --- Electric cars to boost battery metals demand Bindura Nickel Corporation says the Hunters Road project in Gweru “remains strategic” to its long-term plans with the company likely to benefit from an anticipated price surge of the commodity to be spurred by huge...
Africa Moyo --- The re-powering of the Bulawayo Thermal Power Station, which was expected to cost $87 million, has hit turbulence after it emerged that the only company that tendered its bid did not meet the Zimbabwe Power Company (ZPC)’s price expectations. Under the initial arrangement, the Indian Exim Bank...
Taurai Mangudhla --- African Export–Import Bank (Afreximbank) executive vice-president Denys Denya has called for part-privatisation of all State-owned entities as one of the means to improve corporate governance, accountability and profitability in all Government-owned entities. This comes as Zimbabwe’s State-owned enterprises have become a feeding trough for corrupt officials costing the...
--- Claims RBZ facilitated illegal title deed transfer n Demands RBZ mediation, $10m for damages since 2012 Business Writer --- The Reserve Bank of Zimbabwe has been sucked into the ongoing property wrangle by a real estate company, Equity Properties, which claims the apex bank allegedly facilitated the illegal transfer of...
Tawanda Musarurwa For the second time in two years, Government has expressed dissatisfaction with investors that had been granted permission to invest in the mothballed Kamativi Mines amid indications some officials were circumnavigating due process to sell-off the mine. The Kamativi Tin Mines in Matabeleland North are a wholly owned subsidiary...