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Zimplats to engage Zesa over Power Supply

Zimbabwe’s largest platinum producer Zimplats plans to engage national power utility Zesa Holdings as part of efforts to secure reliable electricity supply ahead of its planned expansion. The miner — 87 percent owned by South Africa-based Impala Platinum Holdings — intends to increase production and set up a $100 million …

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Chinamasa says Bippas won’t stop assets takeover

HARARE – Bilateral Investment Promotion and Protection Agreements (Bippas) do not prevent government from compulsory acquisition of assets from investors, Finance minister Patrick Chinamasa said. The Treasury chief told Parliament last week that government would only have to compensate the investor. “Under the Bippas, government is not prevented from compulsory …

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Metallon eyes listing on ZSE

Metallon eyes listing on ZSE Metallon Gold Zimbabwe is eyeing a potential listing on the Zimbabwe Stock Exchange as part of efforts to comply with the country’s indigenisation laws.In a report, the group said it was liaising with Government regarding the indigenisation policy considering that it is no longer a …

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InfoTech signs deal with Zimbabwe Stock Exchange

InfoTech Group has recently signed an agreement with Zimbabwe Stock Exchange for a turnkey deployment of Automated Trading System that will ultimately improve the efficiency of Zimbabwe Stock Exchange during trading operations. This historic agreement with InfoTech was signed by Mr. Alban Chirume, CEO of ZSE and Mr. Naseer A …

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Mthuli Ncube Making Bid to Lead African Development Bank

THE African Development Bank’s chief economist Mthuli Ncube is making a bid to head the bank, taking over from current President Donald Kaberuka whose second five-year term expires next May. Ncube, a native Zimbabwean and naturalized South African, is lobbying South Africa’s finance minister and other officials for the country …

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Luke Ngwerume Launches ZimSelector.com

An exciting new company in Zimbabwe offers good news against a global backdrop of falling confidence and failing finances. ZimSelector.com is the first on-line Financial Services Mall for Zimbabweans at home and abroad.Led by Old Mutual CEO emeritus Luke Ngwerume, ZimSelector.com is proud to bring Zimbabwe’s most trusted brands in …

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Eddie Cross on Zimbabwe Renewal – Stability and Freedom

Eddie Cross on why the business community views the possible return of the Zim dollar with horror Zimbabwe Renewal – Stability and Freedom Stability and freedom are inextricably intertwined in national affairs; you cannot have the one without the other. The instability that has taken a grip on the countries …

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Mashonaland Holdings Limited records 28% decline

MASHONALAND Holdings Limited has recorded a 28% decline in after tax profit to $1,6 million for the half year ended March 31 2014 as compared to $2,7 million over the same period last year. Business Reporter In a statement accompanying the group’s unaudited results, the company attributed the decline to …

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Delta to upgrade its plant, machinery

ZIMBABWE’S largest beverages producer Delta Corporation Limited, has announced plans to upgrade its plant and machinery at a cost of $54 million in a programme expected to run until next March. Company secretary Alex Makamure told journalists during a tour of the beverage maker’s Harare factory last week that several …

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Differences Threaten Cairns, Vasari Deal

Cairns Holdings prospective investor Vasari Global has requested to renegotiate a number of issues with major creditors amid fears the deal could collapse over undisclosed differences. In an update to creditors and members dated May 13 2014, judicial manager Mr Reggie Saruchera of Grant Thornton Camelsa said negotiations with the …

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