Negative sentiment persists on ZSE

HARARE, August 8 (The Source) – The stock market remained in the red on Thursday as negative sentiment persisted with relations between President Robert Mugabe and the West continuing to deteriorate following his election victory last week. Addressing his ZANU-PF party’s Politburo on Wednesday, President… Read More

Online trading platform launches

By Alfonce Mbizwo, HARARE, August 8 (The Source) – A local ICT start-up on Thursday launched an online platform to connect businesses across the African continent and unlock investment opportunities. Esaja.com aims to bring small and medium scale enterprises (SMEs) and large businesses on the… Read More

RioZim posts $2.3 million loss

By Chipo Musoko, HARARE, August 7 (The Source) – Zimbabwe Stock Exchange-listed mining concern, RioZim has posted a $2.3 million loss for the half-year ended 30 June 2013, an improvement on the $4.9 million loss recorded last year on the back of high interest costs… Read More

Telecel licence renewed

HARARE, August 6 (The Source) – The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) on Tuesday renewed the licence of Telecel Zimbabwe after the mobile operator committed to meeting indigenisation requirements. The licencing also ends a bitter feud with rival Econet Wireless which had… Read More

Fuel price hike reports false: ZERA

By Happiness Zengeni, HARARE, Aug 5 (The Source) – The Zimbabwe Energy Regulatory Authority has refuted media reports of an increase in fuel prices only days after ZANU-PF clinched a brawny victory in the recently held elections. Newsday this morning reported a fuel price hike… Read More

Mining sector growth to decline

HARARE, July 30 (The Source) – The mining sector, one of the key drivers of the country’s economy is set to grow by 5.3 percent this year down from 17 percent weighed down by falling international prices, high production costs and lack of capital. “Developments… Read More

Lobels acquires equipment worth $5,8mln

HARARE, 30 July, 2013 (The Source) – One of the country’s biggest bakeries, Lobels Bread Holdings, has acquired equipment worth $5.8 million  to boost production as the company grapples with a $19 million debt that forced its closure two years ago. Lobels chairman, Casper Chibanga… Read More

Timber exports gross $21 million

HARARE, July 24, 2013 (The Source) – Zimbabwe earned $21 million from timber export for the year ended December 31, 2012 doubling last year’s earnings, according to the Timber Producers Federation (TPF) of Zimbabwe. The timber exported included sawn and processed timber, treated poles, particle… Read More