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RBZ cancels Allied Bank licence
Allied Bank is among six banks that failed to meet minimum capital requirements by September 30 last yearBusiness Reporters ALLIED Bank has surrendered its licence to the Reserve Bank of Zimbabwe after...
View ArticleDutch to commission agricultural report
Tendai Sahondo Business Correspondent The Royal Netherlands Embassy will commission a report on the agriculture sector next month that is expected to reap significant investment from the Dutch country,...
View ArticleGovt to accelerate industrial parks
Business Reporter Government plans to accelerate the development of more industrial parks and “industry development corridors” alongside key infrastructure points this year while current efforts will...
View ArticleFlooding exposes weakness in Zim’s disaster response
Jeffrey Gogo Climate Story TORRENTIAL rains that recently caused flash flooding in known high-risk areas, killing dozens and displacing hundreds more, have renewed simmering concerns about Zimbabwe’s...
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Plans to address ethanol shortage
Government would maintain flexibility on mandatory blending thresholds while monitoring the situation at Chisumbanje ethanol plant where production was affected by heavy rainsBusiness Reporters...
View ArticleCompanies import over $29m tobacco for blending
Business Reporter Local companies last year spent $29,3 million on tobacco imports that they use for blending with locally grown Virginia tobacco to make cigarettes. The companies imported about 8,1...
View ArticleZim dams are safe
The onset of the rain season last month brought relief to many across the country, however, recent heavy downpours which led to flooding in some low lying areas have not only generated a lot of anxiety...
View ArticleSMEDC joins Bankers Association
The Small to Medium Enterprises Development Corporation is the newest member of the Bankers Association of Zimbabwe after the transfer of the supervision of the institution to the Reserve Bank of...
View ArticleDendairy introduces 100pc fruit juice products
Kwekwe based dairy firm, Dendairy has started rolling out its 100 percent fruit juice products in the market, Dendairy director Daryl Archibald has said. In an interview, Mr Archibald said the firm...
View ArticleNigerian Securities and Exchange Commission boss quits
LAGOS. – Arunma Oteh left her position as head of the Nigerian Securities and Exchange Commission after five years leading market regulation in Africa’s biggest economy.She left office on January 7 and...
View ArticleSA firm to acquire stake in Agriseeds
Tinashe Makichi Business Reporter Johannesburg Stock Exchange-listed ZAAD Investment Limited’s seed manufacturing subsidiary Klein Karoo Saad Bemarking wants to acquire an 80 percent stake in local...
View ArticleZimplow disposes $3,2m property
Zimplow Holdings has disposed of its property along Robert Mugabe Road for $3,2 million in a transaction that, together with the $5 million to be raised from the rights issue, is expected to extinguish...
View ArticleMwana defends appointment of 3 non-executive directors
Business Reporter Mwana Africa says it is vigorously defending its position on the appointment of three non-executive directors to its board which was being challenged by some petitioners.The directors...
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StanChart could need $4,4bn to cover losses
A jump in Standard Chartered’s bad debts in the third quarter has prompted concern that it could face heavy losses from commodities loans after the fall in the price of oil and commoditiesLONDON. —...
View ArticleGreek eurozone exit set to be costly
BRUSSELS. – A Greek exit from the eurozone would certainly come at a cost to Europe, but just how expensive would it be?The amount Athens owes its partners is equivalent to just a tiny fraction of the...
View ArticleOil prices continue to fall
LONDON — Oil prices renewed their decline yesterday, dropping below $49 a barrel as Goldman Sachs slashed its short-term forecasts and Gulf producers showed no signs of cutting production.Both Brent...
View ArticleSA chicken imports to rise
JOHANNESBURG. – Preliminary anti-dumping duties against imports of frozen bone-in chicken from three of South Africa’s trading partners in the European Union have lapsed in the new year, opening the...
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No joy for NewZim Steel in 2015
Resumption of production at NewZim Steel will have a ripple effect on the economyThe year 2015 will mark exactly four years after Government and Indian conglomerate, Essar Africa Holdings, put pen to...
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ZPC targets 9 000GWh
Plans are in place to add two units at Hwange Power Station which will have a combined generation capacity of 600 megawattsThe Zimbabwe Power Company (ZPC) is targeting to produce over 9 000...
View ArticleBond coins key to divisibility of money
Sanderson Abel Zimbabwe adopted the multi-currency system in 2009 after the value of the local currency was seriously eroded by hyperinflation. However, following the adoption of the multi-currency...
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