HARARE, July 20 (The Source) – Beverage giant Delta Corporation on Thursday reported a two percent increase in revenue for the first quarter to June 30 relative to the comparable period last year driven by volume growth in most segments.
HARARE, July 18 (The Source) – The Zimbabwe Electoral Commission (ZEC) says it has submitted a $274 million funding proposal to enable the southern African country to hold polls next year, a development seen loading more debt on the struggling economy.
HARARE, July 18 (The Source) – Zimbabwe Manpower Development Fund (ZIMDEF) recorded a deficit of $386,678 in 2016 compared to a surplus of $6,5 million in 2015, which it blamed on bad debts amounting to $3 million by mainly state enterprises and local authorities.
HARARE, July 17 (The Source) – Zimbabwe’s inflation rate slowed to 0.31 percent year-on-year in June from 0.75 percent in May, the Zimbabwe National Statistics Agency said on Monday.
By Kuda Chideme, HARARE, July 12 (The Source) – Zimbabwe’s inflation rate is too low, and needs to increase to stimulate economic growth, central bank governor John Mangudya has said.
By Simbarashe Zishiri, HARARE, July 12 (The Source) – Bindura Nickel Corporation (BNC) is unlikely to reap the economic benefits of the smelter restart project in the short to medium term due to depressed nickel prices and insufficient concentrate at the Trojan Mine to meet… Read More
HARARE, July 6 (The Source) – The United States of America has lifted its ban on hunting trophies from Zimbabwe, allowing the country to resume exports later this year, the environment minister said on Thursday.
HARARE, June 30 (The Source) – FBC Holdings says it is awaiting central bank approval to open a reinsurance unit offshore to service its foreign insurance business to avert delays in settling external claims. Zimbabwe is battling an acute shortage of dollars, leading to delays… Read More
HARARE, June 28 (The Source) – Finance Minister Patrick Chinamasa on Wednesday told Members of Parliament that the National Assembly was too big, and that the costs of maintaining it were too high.
HARARE, June 26 (The Source) – Zimbabwe has put in place the necessary legal framework for the establishment of a specialized court to deal with commercial disputes seen as crucial to improving the ease of doing business.
HARARE, June 23 (The Source) – You know election season is around the corner when political parties start making promises they cannot keep.
HARARE, June 22 (The Source) – Zimbabwe expects to produce 2,5 million carats of diamonds this year after acquiring equipment for its state-owned Zimbabwe Consolidated Diamond Company but legal challenges remain over its move to nationalise diamonds fields in the east of the country. President… 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, July 8 (The Source) – The Zimbabwe government continues to dominate the local credit market, with domestic debt rising 40 percent to $4 billion in the quarter to March.
HARARE, April 24 (The Source) – Zimbabwe needs a comprehensive policy package and structural reforms to address the fiscal challenges which the introduction of bond notes alone cannot solve, the International Monetary Fund (IMF) has said. The introduction of the surrogate currency in November last… Read More
HARARE, March 29 (The Source) – Econet Wireless Zimbabwe’s $130 million rights issue was undersubscribed by over 75 percent, mirroring the depth of the country’s liquidity crunch, with the underwriter pumping in $100 million, according to officials with knowledge of the transaction. Econet Wireless Global,… Read More
HARARE, July 21 (The Source) – Like Psychology Maziwisa trying to fill potholes with mud in peak rainy season in Highfield, glorifying the informal market is a poor attempt at covering up failure. Over the past week, debate has raged over Maziwisa’s claim that his… Read More
By Simbarashe Zishiri, HARARE, July 21 (The Source) – Agro-industrial group CFI Holdings on Thursday traded at 31,05 cents, 41 percent above Stalap’s minority offer price of 22 cents, raising the possibility of a bidding war among shareholders defending their interests in the agro-industrial group.… Read More
HARARE, July 21 (The Source) – The Zimbabwe Stock Exchange industrial index advanced 0,82 percent to close the week on 200,04 points, its highest point in 42 months. This is the highest mainstream index level since December 31, 2013, when it closed the year on… Read More
HARARE, July 21 (Reuters) – A Zimbabwean farmers’ union leader warned white South African farmers they should agree a deal to share land with the black majority before they suffer the same fate as neighbours in Zimbabwe who were violently removed from their properties. Land… Read More
HARARE, July 21 (The Source) – Zimbabwe’s banking sector deposits continue to grow but loans and advances dropped as banks remain cautious about lending in the poorly performing economy. Presenting the Mid-Term budget review on Thursday, finance minister Patrick Chinamasa said total banking sector deposits… Read More
By Kuda Chideme, Plaxedes Sibanda and Simbarashe Zishiri, HARARE, July 20 (The Source) – Zimbabwe overspent by $549 million to support recovery of the country’s agriculture sector in 2016 to help the country recover from its worst drought in three decades, Finance Minister Patrick Chinamasa… Read More
HARARE, July 20 (The Source) – The highlights from Finance Minister, Patrick Chinamasa’s Budget Review and Outlook. Economy grew 0.7 percent in 2016 against a target of 2.7 percent due to ElNino induced drought Household consumption fell by 11,8 percent in 2016. Agriculture is expected… Read More
By Ruth Ngwenya, VICTORIA FALLS, July 20 (The Source) – Victoria Falls Municipality has applied to take over management of raw water from Zimbabwe National Water Authority (Zinwa), a development it says will lower water charges in the resort town.
HARARE, July 20 (The Source) – Platinum production at Unki Mine for the second quarter to June 30 rose 10 percent to 19,500 ounces compared to 17,800 ounces in the same period last year largely on improved efficiencies at the mine.
HARARE, July 20 (The Source) – Agro industrial group Zimplow has posted $263,000 profit after tax for the six months to June from a $2 million loss in the comparable period last year.
HARARE, July 20 (The Source) – The Zimbabwe Stock Exchange (ZSE) has outperformed its regional bourses in the year to date as locals sought to cover in equities from a currency crisis, with both the industrial and mining index advancing 100,54 percent and 179,13 percent… Read More
By Kuda Chideme, HARARE, July 19 (The Source) – Finance Minister Patrick Chinamasa will on Thursday take to the Parliament to review the country’s performance in the half-year and give an outlook for the rest of the year.
BULAWAYO, July 19 (The Source) — Zimbabwe is planning to release one million hectares of protected land to small-scale gold miners across the country to boost production, Mines and Development deputy minister, Fred Moyo has said, a development that threatens wildlife areas.