ZIMBABWE Stock Exchange-listed brickmaker, Willdale, will this year invest US$1 million in refurbishing and renewing parts of it’s fixed and mobile plant to enhance efficiency and quality. This comes as the company is seeking to ride on the growing appetite for modern housing and the government’s drive to reduce the housing backlog under the National…
THE Tobacco Industry Marketing Board (TIMB) says the quality of the leaf planted in areas that received rains late is under threat from viral diseases and prolonged wet spells. This comes as TIMB and Agritex are currently carrying out a crop assessment exercise that will guide the stakeholders in the industry on when the marketing…
THE term constructive dismissal relates to a situation where an employee terminates the employment relationship with or without notice. The employee then goes on to allege that the termination was because the employer made continued employment intolerable for them. The Labour Act provides for constructive dismissal as a form of unfair dismissal in section 12B…
INDUSTRY minister Sekai Nzenza has urged business executives to network and come up with innovative ideas meant to grow and transform their enterprises. Speaking during a CEO Africa Roundtable meeting in the capital last week, Nzenza said executives must be alive to global business trends, which are key to growth. “This is an opportunity for…
BUSINESS remains supportive of the broad use of the Zimbabwe dollar in the economy and wants the government to lead from the front in affirming the under pressure local currency. This comes as Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said that one of his major policy thrusts for this year will be…
THE Zimbabwe Stock Exchange’s (ZSE) market capitalisation grew by $110 billion to $1,45 trillion in January as demand for stocks persisted amid high inflation. It comes as analysts have said hedging is likely to remain the pace-setter on the local bourse this year, with inflation seen remaining “high”. Annual inflation declined in January for the…
ARISTON Holdings (Ariston) says it has agreed on joint ventures in three key business projects – fruits, power generation and livestock – as part of the group’s initiatives to raise capital. Last year, the diversified agro-industrial concern, disposed of 50 percent of its shareholding in Claremont Orchards Holdings for US$2 million to form a joint…
AFRICAN Distillers (Afdis) says its wine sales volume grew by 67 percent during the third quarter ended December 31, 2021, following the commissioning of a local production project during the period. The spirits maker and distributor invested in the local production of some imported products to ensure improved business profitability and reduced foreign currency requirements.…
THE Zimbabwe Anti-Corruption Commission (Zacc) says there is gross non-compliance with the Auditor-General (AG)’s reports by public institutions, creating widespread opportunities for acts of theft and fraud. This comes after a report last week said Zimbabwe slid marginally on the 2021 Transparency International Corruption Perceptions Index, scoring 23 out of 100, from a mark of…
CBZ Holdings (CBZ) says it seeks to use its prospective acquisition of additional stake in insurance giant First Mutual Holdings (FML) to gain a foothold in the region. The financial services group this week got shareholder approval to acquire an additional 31 percent stake in FML. CBZ chairman Marc Holtzman said the FML stake would…
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