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Newly Promoted TelOne Upbeat Ahead of New Season

Former Warriors forward Joel Luphahla says he is happy with the 2019 squad of newly promoted side TelOne and has backed the Gweru-based outfit to shine in its maiden season in Zimbabwe’s Premier Soccer League which kicks off March 30. Luphahla led the ambitious side to promotion into the topflight …

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Ministry to Probe Private Cotton Firms

Some private cotton companies are under the spotlight amid revelations they inflated figures of hectarage contracted to small scale growers with a view of being allocated huge quotas during the next marketing season. Apart from inflating the supported hectarage, it has also emerged the bulk of cotton growers contracted by …

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Bond notes a success — Mangudya

Africa Moyo Senior Business Reporter RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya insists bond notes did not fail as an export incentive, but were a major success as evidenced by the rise in foreign currency receipts since their introduction. Dr Mangudya said this in Parliament yesterday during a …

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$1bn lifeline for RBZ

Tawanda Musarurwa Senior Reporter The Reserve Bank of Zimbabwe (RBZ) has acquired $985 million in loans from several regional banks for lending to the productive sectors as well as for the purchase of critical imports such as fuel, according to the Apex Bank governor Dr John Mangudya. Dr Mangudya told …

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Petrotrade to Construct 8 More Service Stations

State petroleum entity, Petrotrade, has reaffirmed its commitment to grow its market share in Zimbabwe by constructing at least eight more service stations across the country in the next two years. Petrotrade commenced operations after the unbundling of its forerunner, the National Oil Company of Zimbabwe (NocZim). The National Oil …

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Let’s Work for, Defend Zimbabwe

We are in the second Republic, the christened new dispensation, and we are in the process of economically re-engaging the Western world, and I do not in anyway wish to undermine the decent efforts of those genuinely trying to find a lasting solution to our economic problems; which are many. …

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Powerspeed to expand branch network

BY FIDELITY MHLANGA Listed hardware retail chain, Powerspeed Electrical seeks to embark on a branch expansion drive to consolidate its market share. Speaking at the company’s annual general meeting last week, Power speed chairperson Simba Makoni (pictured) said the company would continue to invest in expansion despite the tough economic …

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Zim urged to adopt currency board

BY TATIRA ZWINOIRA ZIMBABWE should introduce an independent currency board which would stop the Reserve Bank of Zimbabwe (RBZ) from controlling the foreign currency exchange rate, an industry expert has said. In a recent opinion piece in American magazine, Forbes, financial expert Steve Hanke said a currency board would help …

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Workers win Merlin management wrangle

BY MTHANDAZO NYONI The Supreme Court has ruled in favour of the Zimbabwe Textile Workers’ Union which had sought to have Merlin and Merspin Limited put under corporate rescue proceedings. The ruling gives Tudor House Consultants boss Cecil Madondo relief to continue presiding over the companies. Madondo had acted as …

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Premier recommences drilling at Zulu lithium project

Tawanda Musarurwa Senior Business Reporter Zimbabwe-focused diversified miner, Premier African Minerals has announced plans to recommence drilling at its wholly-owned Zulu lithium and tantalum project. The Zulu Lithium and Tantalum Project is an advanced stage lithium development project. It covers about 3,5km² and is located 80km north east of Bulawayo. …

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