HARARE, June 23 (The Source) – Fidelity Life Assurance on Friday said its total income stood at $8,4 million against the budget of $12,3 million in the five month period to May 31, but expects new products and insurance business to improve its financial performance… Read More
HARARE, June 23 (The Source) – Fixed telecoms operator, TelOne made a loss of $24,9 million in 2016 due to a decline in voice revenue and the high cost of servicing legacy loans.
HARARE, June 23 (The Source) – Agro-industrial group TSL on Friday reported a 163 percent increase in net income to $1,58 million in the six months to April 30, driven by an improved performance by the agro chemicals business and higher grain production.
HARARE, June 23 (The Source) – Four state enterprises and parastatals (SEPs) flouted tender procedures when procuring millions worth of goods and services, according to the Auditor General, Mildred Chiri. The report sheds light on a culture of impunity and lack of accountability that prevails… Read More
VICTORIA FALLS, June 20 (The Source) – Zimbabwe has signed a comprehensive agreement with unnamed Chinese investors for the construction of its ‘Disneyland in Africa’, a tourism and conference theme park in the resort town of Victoria Falls, the tourism minister said on Wednesday.
HARARE, June 21 (The Source) – AIM-listed junior miner, Premier African Minerals says it will produce commercial grade lithium and tantalum at its Zulu mine in south central Zimbabwe after carrying out metallurgical tests. Premier, which also owns 49 percent of RHA Tungsten mine in… Read More
By Kuda Chideme, HARARE, June 21 (The Source) – Zimbabwe’s economy will grow by 2.8 percent this year, lower than the government projection of 3,7 percent spurred by increased output in agriculture, the World Bank said on Wednesday. The southern African nation is recovering from… Read More
HARARE, June 21 (The Source) – Shareholders of the deposit taking microﬁnance institution, Getbucks Zimbabwe on Wednesday approved the name change to GetBucks Microfinance Bank Limited as it seeks to expand its product offering. “The change in name has been necessitated by the change in… Read More
VICTORIA FALLS, June 20 (The Source) – South Africa’s privately owned Airlink will launch its maiden direct flight between Johannesburg and Victoria Falls on July 2, aviation officials said on Tuesday. It will be the third airline flying into Victoria Falls following the $150 million… Read More
HARARE, June 20 (The Source) – Low cost carrier, Fastjet says it will increase the number of flights on its Harare-Johannesburg route to three per day from July 1 in response to high demand. Fastjet, which has been operating a single flight per day on… Read More
HARARE, June 20 (The Source) – Zimre Property Investments’ operating profit for the five months to May 2017 plunged 34 percent to $460,000 from $810,000 over the same period last year, largely on declining rental income and the slow pace of sales of residential stands.… Read More
HARARE, June 20 (The Source) – State-run pension fund, National Social Security Authority (NSSA) has moved to consolidate its insurance portfolio via a deal which will see First Mutual Limited (FML) acquiring a controlling stake in Zimbabwe’s largest short-term insurer, NicozDiamond. NSSA is the anchor… Read More
HARARE, June 20 (The Source) – The Agricultural Bank of Zimbabwe (Agribank) has set up a $10 million facility aimed at promoting horticulture production in the country. The facility has an annual interest rate of up to 10 percent and has a tenor of up… Read More
BULAWAYO, June 19 (The Source) —Clothing retail chain Edgars Stores says the rapid increase in unregulated commerce in the country is hurting its operations as it is made to compete with businesses that do not pay tax. Edgars – a local unit of South Africa’s… Read More
HARARE, June 19 (The Source) – Zimbabwe’s annual broad money supply grew by 22,67 percent in April to $6,2 billion, largely driven by an increase of 31,22 percent in transferable deposits, latest data from the central bank has shown. However, negotiable certificates of deposits (NCD)… Read More