Complex shareholding stalls Zimre bundling

Tawanda Musarurwa Business Reporter A complicated shareholding structure in Zimre Holdings Limited’s regional subsidiaries is stalling the group’s move to consolidate all of its operations in new offshore company, Emeritus International Reinsurance Company. ZHL is in the process of a monolithic rebranding of its reinsurance operations under the Emeritus Reinsurance …

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‘Original Mazoe back in July’

Business Reporter Schweppes Zimbabwe expects the original Mazoe to be back in shops by end of July as the firm needs time to prepare and print labels for the distinct original brand, managing director Charles Msipa has said. Mr Msipa told journalists on Friday that the company had listened to …

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IPEC targets 7 percent insurance penetration

Enacy Mapakame Business Reporter The Insurance and Pensions Commission (IPEC) is targeting insurance penetration to reach 7 percent by 2022 compared to the current 4,7 percent on the back of an anticipated economic growth. Zimbabwe remains in top five in the region in terms of insurance penetration. The growth will …

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ED to commission Hwange project

Africa Moyo Business Reporter President Mnangagwa is on Wednesday expected to preside over the ground-breaking ceremony for the expansion of Hwange Thermal Power Station, which is estimated to cost $1,5 billion. The expansion project will see two more generating units, 7 and 8, being constructed with each generating 300MW of …

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Zim to launch second leather industry strategy

ZIMBABWE is set to launch its second leather industry strategy next month, which is expected to boost production in the region, a Common Market for Eastern and Southern Africa (Comesa) official has said. BY TARISAI MANDIZHA Speaking on the sidelines of the third Comesa Diplomatic Conference on Competition and Trade …

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World Bank finalises funding for Zim

Martin Kadzere Senior Business Reporter The World Bank is concluding funding requirements for Zimbabwe as part of processes to start lending to the southern African country, Finance and Economic Planning Minister Patrick Chinamasa has said. Zimbabwe is in arrears of $1,2 billion to the World Bank and has already mobilised …

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Zimpapers surpasses revenue targets

Golden Sibanda Zimbabwe’s only listed and fully integrated media group, Zimpapers, surpassed revenue and profitability targets for the first five months of this year, while the performance ran ahead of prior year comparatives. Group chief executive officer (CEO) Pikirayi Deketeke, upbeat about prospects after the group obtained a television content …

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IDCZ appoints financial advisor for Chemplex transaction

Business Reporter THE Industrial Development Corporation of Zimbabwe Limited (IDCZ) has finalised the appointment of a financial advisor to handle the dilution of its shareholding in chemicals and fertilisers subsidiary, Chemplex Corporation Limited. IDCZ general manager Ben Kumalo said the appointment of the financial advisor was through a public tender …

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Zimra workers plan protest

Africa Moyo Business Reporter THE Zimbabwe Revenue Authority (Zimra) is bracing for a demonstration by its employees today, who are protesting about alleged poor working conditions for the general workforce while management swim in plenty. Zimbabwe Revenue Authority and Allied Workers Trade Union (Zimratu) general secretary Mr Lovemore Ngwarati has …

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Leading Africa to new heights

It takes courage to challenge the norms, determination to break past barriers and an inspired heart to turn your dreams into a reality that touches the world. Samuelle Z G Dimairho, co-founder (Chengetedzai Depository Company Limited), managing director (Aura Group), is living proof that it is possible to become a …

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