Ecobank hit by directors’ resignation
TWO non-executive directors have quit Ecobank reportedly in the wake of a scathing indictment by the Security and Exchanging Commission (SEC). Ecobank’s Chairman, Andre Siaka, confirmed Isyaku Umar and...
View ArticleRio Tinto bounces back with $3,67bn profit
SYDNEY. – Anglo-Australian mining giant Rio Tinto staged a dramatic turnaround in 2013 to report a US$3,67 billion annual net profit yesterday after a major cost-cutting drive that saw thousands of...
View ArticleZimbuild, private sector to raise us$5b
Tinashe Makichi Business Reporter ZIMBABWE Build (Zim Build), a leading trade exhibition for infrastructure building and construction industry, is engaging private sector and multilateral financial...
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Rand remains weak
THE rand remained weaker across the board at midday yesterday, despite relatively good local mining production figures for December. “Short-term panic may have receded in the emerging markets, but the...
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Nestle net profit shrinks
VEVEY, Switzerland. - The world’s leading food industry group Nestle said yesterday its net profit shrank 2 percent in 2013, blaming a soft economic environment, and cautioned that 2014 will also be...
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Let’s abide by reintroduced Statutory Instruments
Tour operators should not abuse the extension of the suspension of customs duty on motor vehicles they import by Government, by ensuring that they adhere to the dictates of the instrumentIsdore...
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Inter-bank market set to resume
Jean-Louis EkraMartin Kadzere Business Reporter THE inter-bank market is set to resume after Government and the African Export Import Bank entered into an agreement to introduce a facility and...
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NMB gets US$10m French loan
NMB Bank managing director Mr Benefit Washaya (seated left) and Propaco regional representative for Southern Africa, Mauritius and Madagascar Mr Christophe Blanchot sign the agreement for a US$10...
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Govt shortlists two firms for platinum refinery
Zimbabwe will soon have a platinum refinery plant following the submission of concrete plans by Zimplats, Mimosa and Unki last monthFelex Share Herald Reporter GOVERNMENT will soon announce the winning...
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Meikles to expand footprint in mining
Meikles Hotel achieved a 2 percent growth in its Average Daily Rate and Revenue per available room in the nine months to December 2013Business Editor MEIKLES Limited is set to expand its footprint into...
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‘Fix what’s not working’
Dr MunyezaBusiness Editor— GOVERNMENT needs to “fix its system” to ensure that it works good enough to attract investment and sell the Zimbabwe story if they are to register any economic growth targets...
View ArticleFear factor can produce positive results
Ben Chiganze Bassfisherman’s Approach If fear is used effectively it can make success a value system within a team. It appears the teams under Sir Alex Ferguson were more afraid of their manager than...
View ArticleCan sovereign debt be the answer?
The assumption of the Reserve Bank of Zimbabwe (RBZ) US$1,35 billion debt to Government coupled with the planned US$150 million to 200 million recapitalisation of the of the bank are probably the most...
View ArticleResolving the banking sector liquidity
Sanderson Abel The notion of liquidity in the economic literature relates to the ability of an economic agent to exchange his or her existing wealth for goods and services or for other assets. This...
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NMBZ seeks to raise US$5m
Business Reporter NMB Bank Limited is looking to raise about US$5 million from investors such as pension funds to provide loans for Small and Medium Enterprise companies that have the capacity to pay...
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Cairns deal back on track
Golden Sibanda Senior Business Reporter SOUTH African firm Vasari Global’s bid to acquire Cairns Holdings is back on track after the parties agreed on a valuation following disputes over the purchase...
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TIMB warns against nesting tobacco
MONICA CHINAMASABusiness Reporter THE Tobacco Industry and Marketing Board says it will be on the lookout for nesting when the 2014 marketing season for the “golden leaf” opens today. Nesting tobacco...
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Zimbabwe mulls diamond bourse
Business Reporter ZIMBABWE is planning to establish a provisional diamond exchange by the end of the first half of this year, Mines and Mining Development Minister Walter Chidhakwa has said. Addressing...
View ArticleCompanies should adapt or die
Albert Norumedzo In the Money The Zimbabwean business landscape has gone through a myriad of phases, all with a different set of conditions that demanded a different response with different strategies....
View ArticleTSL to convert Chemco debt
Business Reporter TSL Limited has proposed to convert US$2,6 million worth of debt and trade payables in Chemco into equity if shareholders’ back the suggestion at a meeting early next month. At the...
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