KUVIMBA Mining House (KMH) subsidiary, Freda Rebecca Gold Mine (Freda), says it spent about US$100 000 on repair costs for its Mill Number 2, which was down for almost two weeks but is now up and running. Located 90 kilometres northeast of Harare in Zimbabwe, the gold miner houses three mills. Head of the KMH…
CLOTHING retailer Edgars Stores (Edgars) saw its bottom line for the first quarter to March 31, 2024 improve by almost half a million American dollars from prior year levels which it attributed to improved efficiencies. This was despite a challenging operating environment characterized by weaker volumes. According to the group, customers generally held back spending…
HOSPITALITY giant Rainbow Tourism Group (RTG) has significantly increased its support for local suppliers, spending a staggering $28,26 billion in 2023, a 232 percent increase from the $8,52 billion spent in 2022. This surge in local procurement comes as the group actively champions the use of Zimbabwe’s new currency, the ZiG. In an interview with…
STATE-OWNED telecommunications company, TelOne is investing US$31,1 million this year in network and technology infrastructure enhancements amid widespread concerns over Starlink’s expected disruption of its present business model. The company says it is however in search of long-term financing options to cater for a broader network upgrade. TelOne is one of the entities that is…
THE Zimbabwe Revenue Authority (Zimra) has reported a significant increase in the interception of prohibited goods, seizing items worth US$725 423 in 2023 alone. This represents a 101 percent increase compared to the US$361 420 worth of prohibited goods detected in 2022. Zimra attributes this success to the expanded presence of its canine unit (K9)…
FIRST Mutual Properties (FMP) says construction of its US$6 million Arundel Office Park block will be complete by September this year and expects a rental yield of either 7 or 8 percent. This comes as most traditional blue-chip tenants are moving away from the growing disorderliness in the Central Business District (CBD) mainly characterised by…
HOSPITALITY firm Rainbow Tourism Group (RTG) says it has so far realised US$500 000 in profit from operations during the first five months to May 31, 2024, surpassing earlier projections. Players in the tourism and hospitality industry have become accustomed to slow business performance during this time of the year with visitors traditionally peaking in…
VICTORIA Falls Stock Exchange (VFEX)-listed diversified manufacturing firm Zimplow Holdings (Zimplow) is optimistic about the second half of the year (H2) despite a difficult start as it anticipates reaping the rewards of its diversification and revenue growth strategies. The firm established new distributorships and solidified its position as a leading equipment distributor after the cessation…
THE Zimbabwe Revenue Authority (Zimra) has collected ZiG34.4 billion in revenue, underpinned by improved compliance and policy reforms. The country’s resource mobilisation strategy is currently focused on the ordinary citizen due to low domestic output, continued foreign isolation, and limited credit availability. “Our year-to-date (25 June 2024) net collections are sitting at ZiG34,4 billion, against…
ZIMBABWE’S liquefied petroleum gas (LPG) consumption soared by 65 percent to 6,52 million kilogrammes (kg) in May 2024 compared to the same month in 2023, according to the latest data from the country’s energy regulator. This surge in LPG usage, driven primarily by industrial and residential demand, suggests that ongoing power cuts are significantly hindering…
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