OneMoney records 33pc growth

Africa Moyo Senior Business Reporter STATE-OWNED mobile communications firm, NetOne, recorded the biggest growth rate of 32,7 percent on its mobile money platform, OneMoney in the fourth quarter of last year. OneMoney, which has been battling for acceptance by the market since launch about one and half years ago, saw …

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Foreign partners ditch telecom firms

Enacy Mapakame Business Reporter Zimbabwe’s telecommunications companies are being deserted by their foreign partners that service and upgrade their systems due to inability to meet payment obligations in foreign currency. Telecommunication companies are not being prioritised in terms of foreign currency allocations by the Reserve Bank of Zimbabwe (RBZ), which …

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Mobile network operators record 36% revenue jump

ZIMBABWE’S mobile network operators recorded a 36% increase in revenue to $1,1 billion in the full year to December 2018 despite a 25% increase in operating costs, the industry regulator has reported. The country has three licensed operators, two of which are State-owned — NetOne and Telecel and a third …

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Mobile network operators record 36% revenue jump

BY MISHMA CHAKANYUKA ZIMBABWE’S mobile network operators recorded a 36% increase in revenue to $1,1 billion in the full year to December 2018 despite a 25% increase in operating costs, the industry regulator has reported. The country has three licensed operators, two of which are State-owned — NetOne and Telecel …

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RBZ disburses $120 million for small-scale miners

BY MTHANDAZO NYONI THE Reserve Bank of Zimbabwe (RBZ), through its wholly-owned subsidiary Fidelity Printers and Refiners (FPR), has to date disbursed $120 million out of the $150 million Gold Development Initiative Fund (GDIF) for small-scale miners. Giving his presentation at the small-scale miners conference held in Bulawayo yesterday, FPR …

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Caledonia posts $21,4m profit 2018FY

BY STAFF REPORTER CALEDONIA Mining Corporation registered a 4% increase in after tax profits to US$21,42 million in the full year to December 2018 compared to US$20,61 million in 2017, despite a fall in production. Chief executive officer Steve Curtis said this was mainly due to “an increase in amounts …

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State engages ZMDC creditors

Ishemunyoro Chingwere Business Reporter Government is engaging creditors owed millions of dollars by six mines owned by the Zimbabwe Mining Development Corporation (ZMDC) that were last year tendered for partial privatisation, in a bid to stop continued property attachments and give the mining firms a chance to recover. Government, through …

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PPC feels the heat from imports

Bulawayo Bureau The country’s largest cement producer, Pretoria Portland Cement (PPC) Zimbabwe, is feeling the heat from imports and has called on Government to promulgate protectionist laws to promote competitiveness of local producers. Government lifted a two-year import ban on some basic commodities, including cement, last October as a measure …

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Parastatal reforms to earn Govt US$350m

Africa Moyo Senior Business Reporter Government expects to generate US$350 million from reforming TelOne, NetOne, Telecel, Zimpost and the Peoples’ Own Savings Bank (POSB). The five companies have been lined-up for immediate reforms in tandem with the Transitional Stabilisation Programme (TSP) Government launched in October last year. This was said …

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Victoria Falls mall ready to open

ZIMRE Property Investment (Zimre) has completed construction of its $13 million shopping mall in Victoria Falls with the facility set to be opened to the public by the end of this month, an official has said. “The official opening will be at the end of this month on the 26th. …

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