THE Airports Company of Zimbabwe (ACZ) is exploring financing options for a runway extension at Joshua Mqabuko Nkomo International Airport in Bulawayo to accommodate larger aircraft and improve aviation infrastructure. Named after the late Vice President Nkomo, the airport features two runways, one measuring 2 588 metres long by 45 metres wide, and the other…
THE Civil Aviation Authority of Zimbabwe (CAAZ) is working with industry stakeholders to mandate the installation of transponders on small aircraft to improve air traffic safety. The devices allow planes to be detected by the Secondary Surveillance Radar (SSR) system at Robert Gabriel Mugabe International Airport, providing accurate location and altitude data for better flight…
NMB Bank Zimbabwe Limited (NMB) seized properties worth ZWL11,5 billion in 2023 as part of efforts to recover loans from defaulting clients. The group closed the year 2023 with a loan book amounting to ZWL494,5 billion, with a major emphasis on recovering non-performing loans. Agriculture, which represents 31 percent of group loans, has been one…
PASSENGER traffic in Zimbabwe’s airports surged by 24,8 percent in the first half of 2024, reaching 1,02 million passengers compared to 820 667 during the same period in 2023, according to the Civil Aviation Authority of Zimbabwe (CAAZ). The figures reflect significant growth in both international and domestic travel, indicating a robust recovery in the…
RESEARCH firm FBC Securities anticipates moderate gains for the Zimbabwe Stock Exchange (ZSE) as the year draws to a close, driven by selective buying in sectors expected to perform well despite ongoing economic challenges. In its monthly stockpick report, FBC Securities pointed to consumer staples and export-oriented industries as key “defensive counters” likely to perform…
LONDON Stock Exchange-listed Kavango Resources PLC (Kavango) is set to strengthen its position in the metals exploration sector by acquiring a 45 percent stake in its drilling partner, Equity Drilling Investment, for US$22 500. This acquisition aims to create a comprehensive supply chain solution for Kavango’s exploration activities in Zimbabwe. Through its local subsidiary, Kavango…
THE Competition and Tariff Commission (CTC) has shifted its focus to tariff assistance in an effort to bolster local industry and enhance competitiveness, particularly for businesses that rely on imported raw materials. This initiative is designed to support local producers who face high duties at the border, which often undermine the competitiveness of their products…
GWERU-BASED ferrochrome processor Zimbabwe Alloys Limited (ZimAlloys) says it is working on developing a 15-megawatt solar plant at its factory to alleviate the impact of power outages on its operations. Once a dominant player in the country’s ferrochrome industry, ZimAlloys experienced a downturn at the turn of the millennium resulting in it being placed under…
RETAIL giant OK Zimbabwe Limited (OK Zim) is strengthening its relationships with key suppliers to iron out conflict in base currencies of trade and prevent supply chain disruptions. The country’s largest retail chain by store footprint, has lost significant market share due to the sprawling informal retail market as well as uncompetitive trading conditions…
SEED-producer SeedCo Limited (SeedCo) plans to equip growers with irrigation infrastructure to ensure stable production amid ongoing climate change challenges. The group endured a difficult year ending March 31, 2024, on the back of the El Nino-induced drought which saw its flagship crop, the maize seed sales volumes retreat by nearly a third of what…
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