PPC boss tackles key economic issues

ONE of the country’s largest cement producers, Pretoria Portland Cement (PPC) Zimbabwe, says the liquidity constraints being experienced in the country have resulted in payments for offshore goods and services becoming delayed and difficult to make. NewsDay (ND) business reporter Mthandazo Nyoni speaks with PPC Zimbabwe managing director Kelibone Masiyane …

Read More »

IMF highlights Zim’s reform priorities

AN International Monetary Fund (IMF) team of tax experts has completed a diagnostic assessment of the Zimbabwe Revenue Authority (Zimra)’s tax administration and pointed out areas where reform is required to bring it in line with international best practice. BY FIDELITY MHLANGA Senior economist in Revenue Administration and Fiscal Affairs …

Read More »

UK firm penetrates Zim cross-border payments market

ZymPay, a cross border payments company based in the United Kingdom (UK), has developed a real time cross-border payments service to exploit lucrative opportunities in Zimbabwe’s vibrant cross-border payments market. BY TATIRA ZWINOIRA Diaspora remittances are Zimbabwe’s second largest source of foreign currency, contributing about $1 billion annually, according to …

Read More »

Call for legislated budget deficit limits

THE Zimbabwe Coalition on Debt and Development (Zimcodd) has called for legislated fiscal rules, which would impose limits on budget deficits to enhance fiscal transparency and restrain further growth in unsustainable sovereign debt. BY MTHANDAZO NYONI The organisation, which fights for economic and social justice, has also urged government to …

Read More »

Archer Clothing reports drop in orders

BULAWAYO textile giant, Archer Clothing Manufacturers, says it is struggling to process orders owing to a shortage of foreign currency for importation of inputs, machinery and equipment. BY MTHANDAZO NYONI Jeremy Youmans The company escaped liquidation in 2015 after creditors approved its takeover by Harare-based Paramount Garments, but never regained …

Read More »

Simbisa’s profits surge 139% in FY2018

SIMBISA Brands Limited (Simbisa), a public-listed company that owns, operates, and franchises quick service restaurants in Africa, has reported a more than double growth in net income in the full-year period to June 30, 2018, driven by “higher revenue streams and improved operating efficiencies”. BY FIDELITY MHLANGA Addington Chinake In …

Read More »

Mohadi meets industry leaders

Martin Kadzere in Bulawayo ACTING President Kembo Mohadi will get full appreciation of issues besetting local industry when he meets industrial leaders during their annual congress underway in Bulawayo seeking to come up with interventions to rejuvenate one of the key sectors expected to drive economic recovery and growth in …

Read More »

RioZim loses court case

Kuda Mhundwa Diversified mining group, RioZim Ltd’s latest attempt to have the loan it obtained from Trust Bank reduced to $500 000 from $1,8 million suffered another setback after the High Court of Zimbabwe dismissed the latest appeal. A similar application last year was dismissed after the mining concern failed …

Read More »

Local firms to engage mining, council bosses

Africa Moyo Senior Business Reporter LOCAL firms that have  previously complained at being sidelined by mining houses and municipalities, have an opportunity to engage top management of the institutions and thrash potential business deals during the Tour de Great Dyke scheduled for next Tuesday, organisers say. Tour de Great Dyke, which is …

Read More »

Simbisa consolidates regional hold

Enacy Mapakame Quick service restaurant (QSR) group, Simbisa Brands Limited has stepped up a gear in consolidating within the regional markets, with acquisitions of additional interests in Zambia, Ghana and Mauritius. Customer count has hit a record high in the firm’s three-decade trading history. During the year to June 30, …

Read More »