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Remain Calm, Vigilant – Govt

By Victor Maphosa Government has urged the nation to remain calm, united and vigilant as the new dispensation implements a raft of measures to resuscitate the economy. In an interview with The Herald on the sidelines of the country’s 39th Independence celebrations in Harare yesterday, Secretary for Information, Publicity and …

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Mavhaire Testifies in Ex-Zesa Boss’ Case

Former Energy and Power Development Minister Dzikamai Mavhaire on Monday testified in the case of former Zimbabwe Power Company (ZPC) boss Stanley Kazhanje who is being accused of concealing a transaction from his principal involving Wickell Chivayo’s company, Intratek Zimbabwe (Pvt) Limited. Kazhanje reportedly received $10 000 from Intratek and …

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FML targets US$20 million capital raise

Insurance group, First Mutual Holdings Limited is set for a US$20 million capital raise, in a transaction that should help capacitate its Botswana reinsurance business. This comes after the board agreed to relocate its reinsurance head office business to Botswana for a wider international market, access foreign capital as well …

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Expedite RTGS$30m for looted firms’

The Confederation of Zimbabwe Retailers (CZI) wants Government to expedite modalities of disbursing the RTGS$30 million facility designed to bail out distressed firms, including those that were looted dry by opposition hooligans during the January disturbances. Government set up the RTGS$30 million fund to help businesses reconstruct and restock. Bulawayo …

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FML records 44% growth after tax

FIRST Mutual Holdings Limited recorded a 44% growth in after-tax profit to US$17,6 million in the year ended December 31, 2018, down from US$12,2 million in 2017 driven by increased investment income and a positive fair value on investment property. Operating profit for the period went up by 37% to …

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RTG shells out $2,5m on Byo hotel rehab

THE Rainbow Tourism Group (RTG) has invested about $2,5 million in the refurbishment of its Bulawayo hotel, an official has said. In a statement yesterday, RTG operations director Tichawona Hwingwiri said the hotel, which underwent a major plumbing refurbishment since February 2019, was now open and fully operational. The scope …

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Trade deficit drops by 90%

ZIMBABWE’S trade deficit dropped by 90% to $22,1 million in February this year with analysts attributing the decline to foreign currency shortages. Figures released by the Zimbabwe Statistics Agency (ZimStat) show that in February, the country imported goods and services worth $370,5 million against exports of $348,4 million. In the …

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FML records 44% growth after tax

BY MISHMA CHAKANYUKA FIRST Mutual Holdings Limited recorded a 44% growth in after-tax profit to US$17,6 million in the year ended December 31, 2018, down from US$12,2 million in 2017 driven by increased investment income and a positive fair value on investment property. Operating profit for the period went up …

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RTG shells out $2,5m on Byo hotel rehab

BY MTHANDAZO NYONI THE Rainbow Tourism Group (RTG) has invested about $2,5 million in the refurbishment of its Bulawayo hotel, an official has said. In a statement yesterday, RTG operations director Tichawona Hwingwiri said the hotel, which underwent a major plumbing refurbishment since February 2019, was now open and fully …

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