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

Market continues post election recovery

HARARE, October 2 (The Source) – The market continued its post election recovery, with the Industrials Index rising 2.42 points to 203.36 points with most of the heavyweights enjoying positive trades. BAT’s purple patch continued, gaining a further 100 cents to trade at 1300 cents… 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

Pioneer in $1million after tax loss

HARARE, September 30 (The Source) – Logistics group Pioneer  Corporation Africa expects an improved last quarter after registering a operating loss after tax of $1 million for the half year ended  June 30, 2013 because of poor liquidity in the market. The company’s revenue  fell nine… Read More