RIOZIM says Empress Nickel Refinery (ENR) has commenced production of matte and copper anodes as part of a programme to resuscitate the mothballed plant. The refinery was put under care and maintenance in 2015 due to the unavailability of matte ― a semi-processed ore. Lovemore Chihota, Riozim’s board chairman, said ENR was able to produce…
Bafana Bafana goalkeeper Itumeleng Khune joked and said he asked for a cup of hot coffee during their 6-0 rout of Seychelles over the weekend. Khune was a peripheral figure as his teammates ran riot at the FNB Stadium and went untested in the entire 90 minutes – at some point he began to watch…
FINANCE minister Mthuli Ncube says government is working on measures to ensure that corporates and individual nostro foreign currency accounts (FCAs) are not easily raided by the central bank as a way of boosting confidence in the economy. Last week, the central bank directed all banks to effectively ring-fence policy on nostro foreign currency accounts…
THE Zimbabwe National Roads Administration (ZINARA)’s board has been dissolved for failing to “uphold good corporate governance”, deputy Transport minister Fortune Chasi says. This also comes as Information Communication and Technology Minister Kazembe Kazembe equally axed the NetOne board. Wilfred Ramwi’s ZINARA tribunal had been under the spotlight for a number of reasons, including its…
INNSCOR Africa (Innscor) says volumes at Irvine’s were severely impacted by the effects of the highly pathogenic avian influenza (avian flu) epidemic which occurred at the end of the last financial year. Between May and August last year, avian flu hit the region, killing more than one million chickens in South Africa (SA) and Zimbabwe.…
GETBUCKS says its profit after tax for the year ended June 30, 2018 went up by a significant 25 percent to $4,5 million on the back of smart loan servicing. The lender’s chairman Rungano Mbire said “the growth was driven by lower impairments of $0,2 million, from $1 million in 2017 and reduced operating expenses…
GOVERNMENT must develop industries that beneficiate exports and promote import substitution in order to boost the country’s earnings, Old Mutual Securities (OMSEC) has said. Zimbabwe exports largely unprocessed goods, which analysts say results in less earnings for the country, desperately in need of foreign currency. “…the bulk of these exports remain largely unprocessed and relate…
THE value of mobile transactions processed through the National Payment System (NPS) increased by four percent in the week ended September 21 2018 to $2,76 billion, from $2,69 in prior week. According to the Reserve Bank of Zimbabwe (RBZ)’s latest weekly economic highlights, during the period, transactions processed through the Real Time Gross Settlement (RTGS)…
ZIMBABWE’s cumulative trade deficit in the eight months to August 2018 increased to $1,84 billion from $1,74 billion recorded in the year to December 2017, latest data shows. The southern African country has persistently run a trade deficit since dollarisation in 2009, amid indications that the cumulative trade deficit in the past nine year has…
NATIONAL Foods Holdings (NatFoods) says its profit margins suffered after it failed to raise prices in line with inflation developments in Zimbabwe. In the face of considerable inflation developments in the country over the past two years, the group says it has not re-priced some of its products due to various reasons. “Revenue for the…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More