Zimpapers FY profit down 26pct

HARARE, March 24 (The Source) – Zimbabwe’s largest media house, Zimpapers, on Friday reported that its net profit for the year to December 2016 fell by a quarter to $2,02 million from $2,7 million in the prior year. Revenue was down 6,3 percent to $37,6… Read More

Government overspent by 42.3pct in Q4

HARARE, March 24  (The Source) – Government expenditure for the fourth quarter amounted to $1,432 billion against a target of $1,006 billion, resulting in an expenditure overrun of 42,3 percent, the latest Treasury bulletin shows. In the fourth quarter, recurrent expenditure was were $1,025 billion,… Read More

Meikles’ mining JV collapses

HARARE, March 22 (The Source) – Meikles Limited’s foray into mining faces uncertainty following the withdrawal of its foreign joint venture partner, Centar Limited. Announcing Meikles’ belated 2016 financials, chairman John Moxon announced that Centar had withdrawn from Zimbabwe. He did not give reasons behind… Read More