ARDEN Capital (Arden) has re-proposed winding up operations after a lapse of its previous proposal due to delayed approval from the Reserve Bank of Zimbabwe. Directors of the Zimbabwe-focused investment firm came up with the proposal after resolving that the business case for continued operations was “no longer sensible”. The board proposed a pro-rata unbundling…
NAMPAK ZIMBABWE (Nampak) says it will continue to focus on cost control and margin preservation in anticipation of a year characterised by strong economic headwinds. The company’s demand for packaging significantly improved last year, with the group’s managing director, John Van Gend saying it benefited from the recovering economy, led by a rebound in agricultural…
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…
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.…
ZIMBABWE’S largest mobile network operator Econet Wireless has been granted additional spectrum to expand its services. This comes as the listed firm recently indicated that it will soon roll out fifth generation (5G) services across the country. Industry analysts say emerging 5G networks feature lower latency, higher capacity, and increased bandwidth compared to 4G. These…
MEIKLES Hotel says it could begin its long-planned multi-million-dollar refurbishment next month, once the City of Harare approves the plans. In a statement this week, general manager Tinashe Munjoma said the phased programme to carry out a major redevelopment of selected key areas had been planned since the acquisition of the hotel two years ago…
ZESA Holdings (Zesa) says electricity challenges are set to ease during the festive season, after the power company completed the refurbishment of three units at Kariba South Hydro-Power station. This comes as the country is currently facing a crippling power crisis, which recently saw Zesa announcing a load shedding schedule, which has resulted in some…
POSTAL services company, Zimpost, has launched a new mobile money platform, in a development that is set to promote financial inclusion towards achieving the government’s vision 2030 of making Zimbabwe an upper-middle income economy. Speaking during the launch yesterday at Greendale Post Office in Harare, acting postmaster general Isaac Muchokomori, said the new platform will…
FINANCE minister Mthuli Ncube says the Reserve Bank of Zimbabwe (RBZ) is on course to operationalise the national collateral registry this month. The system, which has been in the making since 2017, is being set up to allow the securitisation of movable property, and is part of the central bank’s financial inclusion agenda. “The collateral…
THE government plans to recapitalise and resuscitate Lancashire Steel in a bid to stimulate industrial expansion in the economy, Finance minister Mthuli Ncube has said. The company ceased operations about a decade ago following the closure of its major raw supplier, the Zimbabwe Iron and Steel Company (Ziscosteel), in 2008. “Government will continue work with…
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