Nampak revenue ahead of previous year

Enacy Mapakame Business Reporter Paper and packaging group Nampak Zimbabwe says revenue for the six months to March 31, 2019 was ahead of prior year although volumes went down significantly in the plastics and metals segments. It was, however, marginally ahead of the comparable prior year in the printing and …

Read More »

Local consortium bids for Metallon’s mines

Martin Kadzere Senior Business Reporter LOCAL consortium, Vara Mining, has made a bid for Metallon Corporation’s Mazowe and Shamva gold mines, according to sources familiar with the developments. This comes as mid-tier Canadian miner B2Gold dismissed reports that it was considering buying the assets, emphasising it was not currently interested …

Read More »

Govt polishes up interbank market

Golden Sibanda Senior Business Reporter GOVERNMENT is working on ensuring efficient functioning of the interbank market to meet the economy’s foreign currency requirements and bring sanity to price increases that are driven by black market currency premiums. The Government believes that the country is generating enough hard currency but prevailing …

Read More »

A mouthful of zollars

Most currencies have snappy names, like yen, won, kip or lek. Some have unfortunate ones: dong or colón. Few have names as cumbersome as Zimbabwe’s Real-Time Gross-Settlement Dollars, also known as rtgs-dollars or “zollars”. Hard to say, the new currency is also hard to price. Last week it lost about …

Read More »

DPA targets 100MW in 5 years

BY MTHANDAZO NYONI DISTRIBUTED Power Africa (DPA), a subsidiary of Econet Wireless Global, is targeting to have 100 megawatts of installed capacity from solar as part of the initiative to move Zimbabwe towards a green economy. DPA’s business primarily focuses on rooftop solar power systems for commercial and industrial customers. …

Read More »

Govt reluctant to hike power tariffs

BY KUDA CHIDEME FINANCE Minister, Mthuli Ncube says government is reluctant to hike power tariffs, but it may consider a commodity linked tariff for mines. Appearing before the parliamentary committee on Budget and Finance, Ncube told legislators that a tariff increase was highly untenable in the current environment and would …

Read More »

Winter wheat preps behind schedule: ZCFU

THE Zimbabwe Commercial Farmers Union (ZCFU) says preparations for the winter wheat season are behind schedule with less than a tenth of the planned hectarage planted. At least 70 000 hectares are this year planned to be under wheat production with output expected to be around 350 000 tonnes. “In …

Read More »

$42 million lost to cyber-crime

More than $40 million has been lost to cyber-crime in the first four months of the year, an official report has shown. According to the Zimbabwe Republic Police (ZRP) statistics, 4 001 counts of cyber-related crime were committed resulting in 1 132 convictions being made during the period. Though somewhat …

Read More »

BCC, ZPC in dispute over ownership of power station

THE Bulawayo City Council (BCC) and the Zimbabwe Power Company are currently embroiled in a dispute over the ownership of the Bulawayo Power Station with the municipality claiming $106 million in unpaid royalties from the power utility. According to council minutes, BCC is billing ZPC for use of the power …

Read More »

Fish farmers want 10% surtax on imports

FISH producers in Zimbabwe want government to introduce a 10% surtax on all fish imports entering the country to support the local fish farming industry. In a report following the 2019 fish farming indaba held recently, the Livestock and Meat Advisory Council (LMAC) said the proposal would capitalise an aquaculture …

Read More »