Surface Wilmar eyes Cottco

Tawanda Musarurwa Senior Business Reporter Surface Wilmar Group Zimbabwe is set to acquire a 50 percent stake in the Cotton Company of Zimbabwe (Cottco) and has plans to immediately  invest $100 million in the agro -industrial firm. Surface is a joint venture between the Singapore head-quartered agribusiness group, Wilmar and …

Read More »

FSG questioned over $69m fertiliser deal

FERTILISER, Seed Grain (FSG) managing director, Steve Morland was yesterday questioned by Parliament over how his company got the contract to supply fertiliser to the presidential input scheme, with legislators suspecting that the company had been handpicked without going through the required tender procedures. BY VENERANDA LANGA Morland appeared before …

Read More »

Chrome ore spurs minerals sales

MINERAL sales by volume increased by 29% to 592 179 metric tonnes (mt) in the first four months of the year, with most minerals registering a growth, statistics from the Minerals Marketing Corporation of Zimbabwe (MMCZ) show. BY MTHANDAZO NYONI Statistics from MMCZ show that a number of minerals in …

Read More »

Bank employees threaten strike

Workers in the banking sector have issued a two-week ultimatum to their employers demanding a 60% salary increase or they will embark on a strike. BY FIDELITY MHLANGA The workers, represented by the Zimbabwe Banks and Allied Workers Union (Zibawu) have already rejected a 3,46% increase. “Following the conclusion of …

Read More »

Banks ‘withdraw’ manual RTGS payments

A NUMBER of financial institutions in Zimbabwe have discontinued manual real-time gross settlement (RTGS) payments, as they go paperless, banking on increasing their efficiencies. BY MTHANDAZO NYONI Some of these banks include Nedbank Zimbabwe, Cabs, NMB, ZB Bank and Steward Bank. Nedbank Zimbabwe urged its customers to shift from manual …

Read More »

State-led industrialisation key for Africa

African Development Bank Group (AfDB) president Akinwumi Adesina has said State-led industrialisation will drive millions out of poverty, as the bank announced a $35 billion investment over 10 years to drive the industrialisation agenda. BY NDAMU SANDU IN BUSAN, SOUTH KOREA Speaking at the beginning of the bank’s annual meetings …

Read More »

Midlands property firm rebrands

Africa Moyo RISING Midlands-based property firm, Luxury Living International, has re-branded to Prime Mutual Properties (PMP), in line with its new thrust which includes land development, servicing of residential stands and construction of houses. More importantly, the company has spread its tentacles to Zambia where it has been registered as …

Read More »

Tongaat builds 5 499 houses for employees

Livingstone Marufu Hippo Valley Estates, a subsidiary of Tongaat Hulett, says it has built 5 499 houses from 1974  for  its employees in Chiredzi, a sugar producing  area in the Lowveld, in a bid to provide decent, orderly and affordable accommodation for the staff. Of the 5 499 residential houses, …

Read More »

China reaffirms tight market regulation stance

BEIJING – China’s top property market watchdog reiterated over the weekend that it will maintain tight regulation of the real estate sector. Local governments should stick to real estate market management goals and not loosen regulatory measures, according to a statement released Saturday by the Ministry of Housing and Urban-Rural …

Read More »

City in CBD parking headache

Ishemunyoro Chingwere Property Reporter Central Business District (CBD) property owners are giving city of Harare’s vehicle parking arm, City Parking, a headache with their penchant for on-street parking as opposed to the option of parkades. This does not dovetail with the authority’s efforts to decongest the city. The city is …

Read More »