South African Airways (SAA) is currently debt-free and is not looking for additional funding from National Treasury. However, Parliament’s Standing Committee on Public Accounts (Scopa) heard on Tuesday the national carrier requires a capital injection to get back to its “former glory”. The capital is also needed to bring forward some of the plans it…
SCHWEPPES Zimbabwe says it is working on reducing its waste and carbon footprint by 25 percent as part of efforts to mitigate its negative environmental impact during operations. As global concerns about climate change, social inequality, and corporate misconduct grow, investors and consumers are increasingly demanding transparency and accountability from businesses. Local companies have been…
THE CMED says it is grappling with a financial crisis due to delayed payments from government ministries and departments. Speaking to The Financial Gazette, CMED managing director Davison Mhaka highlighted the urgent need for the government to settle its arrears to ensure smooth operations. “The major hurdle that we face is that we provide services…
THE Deposit Protection Corporation (DPC) says it is confident in its ability to provide deposit insurance coverage in both US dollars and ZiG in the event of a bank failure. Established in 2003 under the Deposit Protection Act, DPC protects eligible depositors by securing funds in case of such failures. These funds are generated through…
ZIMBABWE’s hospitality industry is facing a safety crisis, with a staggering lost time injury frequency rate exceeding acceptable standards for three consecutive years covering 2017 to 2019, according to latest statistics. The revelations were made during a recent National Employment Council for the Catering Industry in Zimbabwe’s multi-launch of the Sectoral Occupational Safety and Health…
VICE President Kembo Mohadi has called for technological advancements to curb the rising number of workplace fatalities and injuries in Zimbabwe, stressing that technology is essential for protecting the country’s workforce. This call follows reports of 70 workplace fatalities and 4 904 injuries recorded this year. Speaking at the recent Safety and Health at Work…
THE Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has highlighted that the deployment of 5G network services across the country is setting the stage for significant technological advancements in fields such as telemedicine, smart agriculture, and e-government. This comes as telecommunications giant NetOne recently launched a new 5G base station in Boka, Harare. “The…
HOTELIER African Sun says it will go ahead with the disposal of several assets considered not essential to its future strategic focus as part of its capital raising initiatives to finance other growth areas. This comes after the group last month agreed a cumulative US$7 million deal with TD Hotels & Leisure for the disposal…
SUPERMARKET chain Choppies Enterprises (Choppies) has confirmed receipt of a US$1,8 million lump sum payment for blocked funds from the government of Zimbabwe aimed at settling outstanding obligations to foreign shareholders and restoring confidence in the business community. Blocked funds refer to foreign currency earnings that externally based companies like Choppies had generated through their…
By Kudzanai Gerede Companies and Markets Editor SUGAR producer Hippo Valley Estate (Hippo Valley) plans to spend US$15 million in the short-term to grow its business and return capital to shareholders, the company said at its 68th annual general meeting this week. The company has been battling unscheduled mill stoppages, a notable decline in yields,…
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