DIDG ropes in Diasporans to harness funds

Africa Moyo Senior Business Reporter The Diaspora Infrastructure Development Group (DIDG), which won the tender to recapitalise the National Railways of Zimbabwe (NRZ) to the tune of $400 million, is broadening its shareholder base to other Zimbabweans in the Diaspora. The move is aimed at raising funds for working and …

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NetOne swings to profitability

Enacy Mapakame Business Reporter State-owned mobile network operator NetOne swung to profitability in the eight months to August 31, 2018, as profit rose 105 percent to $1,3 million from a loss of $26 million in the prior comparable period. Last month alone, the firm recorded the highest monthly profit (since …

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Take charge of your bills

Most water users unknowingly contribute to their own high water bills. It is very important for water users to practice water efficiency whenever they use the resource, be it in the home or in the field. Water efficiency helps users to keep their bills in check at the same assisting …

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Govt commits 1% of GDP to research

GOVERNMENT has committed 1% of gross domestic product (GDP) towards research and development (R&D) across all sectors of the economy, President Emmerson Mnangagwa has said. BY MTHANDAZO NYONI R&D supports innovation, enhances product development, boosts competitiveness and puts the economy on a path to sustainable growth. The current allocation is …

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Chrome producers engage MMCZ over pricing

SMALL-SCALE chrome miners have engaged the Mineral Marketing Corporation of Zimbabwe (MMCZ) to adopt a market-based pricing system to cut out losses and nurse the sector back to viability. BY MTHANDAZO NYONI Small-scale producers export chrome through Apple Bridge Investments (Apple Bridge), a special purpose vehicle established by MMCZ to …

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Govt to improve diamond sector governance

MINES minister Winston Chitando says the national diamond policy, which is expected to improve the governance of the sector, is now “imminent”. BY FREEMAN MAKOPA The policy will be launched by President Emmerson Mnangagwa in the last quarter of the year and is expected to open the sector to new …

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NicozDimond, Tristar merger commences

The directors of Tristar Insurance Company Limited (Tristar), a short-term insurance unit of First Mutual Holdings Limited (FML), have passed a resolution to seek the approval of the Minister of Finance and Economic Development to transfer its business to NicozDiamond Insurance Limited (NicozDiamond). BY TATIRA ZWINOIRA FML last month finalised …

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Boom in Mine Entra bookings reflects growing business confidence

This year’s edition of the Mining, Engineering and Transport (Mine Entra) expo is already 93% booked, a sign of growing business confidence in the sector and strong international interest in doing business with Zimbabwe. BY MTHANDAZO NYONI Mines and Mining Development minister Winston Chitando is expected to officially open the …

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Econet launches Cholera Crisis Fund

Business Reporter Econet Wireless Zimbabwe’s banking subsidiary Steward Bank, yesterday launched a $2 million National Cholera Crisis Fund that is meant to raise funds for the cholera crisis that has engulfed some parts of the country. The cholera outbreak was first declared on September 6, 2018, in the Glen View …

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