Phoenix shares suspended from trading on ZSE

By Chipo Musoko, HARARE, October 3 (The Source) – The Zimbabwe Stock Exchange (ZSE) on Thursday suspended Phoenix Consolidated Industries after the troubled plastic and steel company voluntarily applied for judicial management. “Phoenix Consolidated Industries Limited shares were suspended from trading with immediate effect after… Read More

Mzembi honoured for UNWTO success

BULAWAYO,  October 3 (The Source) – Zimbabwe and Zambian tourism ministers will be honoured with the Africa Legend Award 2013 for successfully co-hosting 20th United Nations World Tourism Organization General Assembly in August. The Pan African Award Committee of the Travel Awards announced that  ministers… Read More

Hwange gets $12 mln machinery from China

VICTORIA FALLS, October 2 (The Source) – Coal miner Hwange Colliery Company has received $12 million worth of new machinery from China as the company starts recapitalization initiatives, an official said on Wednesday. Hwange’s Burzil Dube said the mine has been weighed down by obsolete… Read More

Ecocash to turn into ‘savings’ bank

BULAWAYO, October 2 (The Source) – Zimbabwe’s biggest mobile operator, Econet Wireless’ mobile money  transfer service is working on a platform that would allow its subscribers to save money, effectively turning into a virtual savings bank, an official said on Wednesday. Ecocash was launched on… Read More

Zim losing millions in mines tax dodge

VICTORIA FALLS, October 1 (The Source) – Zimbabwe and other African countries are losing millions of dollars in potential tax revenue from international companies that extract minerals in one country but process them and bank proceeds elsewhere, African Tax Administration Forum (ATAF) executive secretary Logan… Read More