Total gives thumbs up to plastic money

TOTAL Zimbabwe says it does not condone the rejection of plastic money transactions at all its fuel service stations dotted around the country as this was counterproductive. BY FIDELITY MHLANGA The company’s managing director, Ronan Bescond, told delegates at the prize-giving ceremony of the Refresh, Refuel, and Recharge promotion yesterday …

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Zimswitch eyes new platform for bulk payments

ZIMSWITCH is in final stages to introduce an electronic transacting system for bulk payments to relieve pressure on the Real Time Gross Settlement (RTGS) system. Zimswitch deputy general manager Zabron Chilakalaka told guests at the just-ended Zimswitch conference in Victoria Falls that the new platform, Zeepay, would cater for bulk …

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AfDB bans Chivayo’s partners

AFRICAN Development Bank (AfDB) has banned Wicknell Chivayo’s partner in the controversial Gwanda solar project for three years due to fraudulent practices such as misrepresentation of experience to qualify for contracts. BY FIDELITY MHLANGA Chivayo’s Intratrek is working with Chinese engineering firm, CHINT Electric, with executives from the firm expected …

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ZHL bounces back to profitability

ZIMRE Holdings Limited (ZHL) has overturned its loss-making position by $4,36 million for the financial year ending December 31, 2017 on the back of cost reduction and an improvement in incomes from its key operations. BY TATIRA ZWINOIRA For the 2017 period, ZHL registered a profit of $5,82 million from …

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URL says demand up for vegetable juices

AGRO-PROCESSING company, United Refineries Limited (URL), is struggling to keep up with demand for its newly introduced product — vegetable juices, chief executive officer, Busisa Moyo has said. BY MTHANDAZO NYONI Recently, the Bulawayo cooking oil manufacturer, launched vegetable juice products in four flavours — pure carrot, carrot infused with …

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Barclays’ loan book improves

BARCLAYS Bank of Zimbabwe says its non-performing loans stood at 2,2% at the end of 2017, a reflection of a quality loan book, the bank’s head of customer service and corporate affairs, Emily Nemapare, has said. BY MTHANDAZO NYONI Nemapare told NewsDay in emailed responses that Barclays’ financial performance in …

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Mupfumira heads Zim team to tourism fair

Tourism and Hospitality Industry minister, Prisca Mupfumira will lead a Zimbabwean delegation for the continent’s largest travel show, Africa Travel Indaba which opens in Durban, South Africa today. BY BUSINESS REPORTER It runs up to Thursday. Zimbabwe, which has been participating at the fair since its inception 30 years ago, …

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ZANU PF to clamp down on land barons

Kudzanai Sharara The ZANU PF Government says it will put an end to irregular allocations of land and development of shanty towns if re-elected in the forthcoming 2018 harmonised elections. In its 2018 election manifesto launched last week, the ruling party said it will also eliminate all forms of land …

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Hwange mulls selling town, houses

Africa Moyo Property Reporter The country’s oldest coal mining firm, Hwange Colliery Company Limited (HCCL), is considering selling the town for $300 million as part of efforts to raise funds to off-set its obligations with a number of creditors. This includes selling part of its 5 000 employee houses to …

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Coca-Cola marks 70 years in Zim

Business Reporter The Coca-Cola Company is today celebrating 70 years of operations in Zimbabwe and is planning to step up innovation as well as drive economic empowerment and environmental stewardship into the future. The beverages company, which came into the country in 1948, is also celebrating its 132nd birthday globally …

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