TelOne writes off $80 million debt

HARARE, October 18 (The Source) – Zimbabwe’s sole fixed line operator, TelOne on Friday said it has written off $80 million in debt owed by residents in compliance with a government order. The moves follows similar actions by power utility Zesa Holdings and the City… Read More

ZSE market cap nears $6 billion mark

HARARE, October 17 (The Source) – Market capitalisation for the Zimbabwe Stock Exchange moved closer to $6 billion as gains in mid-tier counters pushed the industrial index 0.68 points higher to 214.90 points. The local unit of South Africa’s PPC gained two cents to 247… Read More

Zimglass seeks $36 mln working capital

GWERU, October 16 (The Source)  – The Industrial Development Corporation of Zimbabwe’s glass manufacturing unit is seeking $36 million in working capital, an official said on Wednesday. Zimbabwe Glass Industries (Zimglass) last week resumed production of flint glass, its cash cow in recent years, but… Read More