Home / Business (page 14)

Business

ZERA licenses 50MW thermal plant project

The Zimbabwe Energy Regulatory Authority (Zera) said yesterday it has licensed a joint venture between locals and Chinese investors, the Zimbabwe Zhongxin Electrical Energy Private Limited (ZZEE), to establish a coal fired power plant that will produce 50 megawatts. The project, to be based in Hwange, joins the long list …

Read More »

Nestlé targets 30pc female executives

Enacy Mapakame Business Reporter Swiss food and beverages giant, Nestlé has made a commitment to increase the number of women in executive positions to 30 percent by 2022 in an effort to close gender disparity in the group. This comes as the world over, women’s representation in top executive positions …

Read More »

Hotel expedites US$3m renovations

Tawanda Musarurwa One of Zimbabwe’s top hotels, Rainbow Tourism Group (RTG), expects to complete the US$3 million refurbishment of its flagship hotel, the Rainbow Towers Hotel and Conference by January next year. The group has temporarily closed off the hotel side as 183 of its guest rooms and suites are …

Read More »

Afcfta deliberations on next year

Chipo Chaumba Business Reporter Deliberations on operationalising the Africa Continental Free Trade Area (AfCFTA) – which came into effect earlier this year – will take centre stage at the next CEO Africa Roundtable Summit next March in Harare. The CEO Africa Roundtable is a membership based grouping of chief executives …

Read More »

First Capital’s revenue up 159 percent

Fradreck Gorwe Zimbabwe Stock Exchange listed financial institution, First Capital Bank (FCA), recorded 159 percent revenue growth to $315,5 million for the third quarter to September 30, 2019 compared to $121, 8 million posted in the first half of the year. The surge in total income was achieved despite a …

Read More »

Arcadia seals electricity deal

Golden Sibanda Senior Business Reporter PROSPECT Resources, developer of the Arcadia Lithium Mine near Harare, has struck a “secure” power supply agreement with State power utility Zesa, which enables it to develop its electric vehicle batteries lithium project. An amount of US$162 million is required as capital expenditure to develop …

Read More »

Government to avail $500m for entrepreneurs

Michael Tome and Chipo Chaumba GOVERNMENT says it will be availing the $500 million national venture fund by February 2020 meant to provide affordable loans to young entrepreneurs. Finance and Economic Development Minister Mthuli Ncube, revealed this at the launch of the Pfuma Inotho, a small to medium enterprises funding …

Read More »

Nestle appoints first woman MD

NESTLÉ Zimbabwe has appointed Eunice Ganyawu-Magwali as its new managing director, taking over from Ben Ndiaye with effect from December 3, 2019. BY BUSINESS REPORTER The food and drink processing company announced that Ganyawu-Magwali’s appointment makes her the first woman to be appointed to the role in the firm’s history. …

Read More »

Meikles no longer 5-star hotel by international standards

MEIKLES Hotel is no longer a five-star hotel by international standards owing to its failure to secure US$15 million towards refurbishing the iconic establishment. BY TATIRA ZWINOIRA The disposal of Meikles Hotel was announced last month by Meikles Limited, the holding company, to ASB Hospitality (Zimbabwe) Private Limited a subsidiary …

Read More »

Oil prices up

SINGAPORE. – Oil prices climbed higher yesterday as investors kept the faith with hopes that a fully fledged US – China trade deal is in the pipeline, set to stoke oil demand in the world’s biggest economies. Brent crude oil futures LCOc1 were up 11 cents, or 0,2 percent, to …

Read More »