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Zimbabwe: Zesa Takes Kembo Mohadi’s Firm to Court

The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has taken to court a company believed to belong to State Security Minister Kembo Mohadi for failing to settle more than US$64 000 in unpaid electricity bills. ZETDC, the power distribution arm of ZESA Holdings, has filed summons at the High Court …

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Zimbabwe: Government Finalises Caps Acquisition

GOVERNMENT has completed the process to take over drug manufacturer, CAPS Pharmaceuticals and Health Care (Pvt) Limited, two entities which used to be part of CAPS Holdings Group, the Financial Gazette’s Companies & Markets (C&M) has been established. Units under Health Care include QV Pharmacies and St Anne’s Hospital. CAPS …

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Zimbabwe: Arda Targets 200 000 Tonnes for Winter Wheat

THE Agricultural Rural Development Authority (Arda) has set a target of 200 000 metric tonnes for its winter wheat crop in bid to revive the country’s self-sufficiency and reduce imports. Zimbabwe requires in excess of 400 000 metric tonnes annually, but local farmers have over the years failed to meet …

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Zimbabwe: ZSE Should Foster Confidence

EDITORIAL LAST week, we carried an in-depth report on the Zimbabwe Stock Exchange (ZSE) which highlighted the equities market’s sad reaction to complaints from concerned investors. We reported on the lack of action, or slow pace at which the ZSE has investigated a complaint by one investor in CFI Holdings. …

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Zimbabwe: Nssa Prepares Offer to Nicozdiamond Minorities

THE National Social Security Authority (NSSA) is proceeding with plans to buy out minorities in Zimbabwe’s largest short term insurer, NicozDiamond, in which it last year increased its shareholding to 44.9 percent, the Financial Gazette’s Companies & Markets (C&M) can report. NSSA raised its shareholding in NicozDiamond in November after …

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Sweden wants to boost Zim investment, exports

Sweden’s new ambassador to Zimbabwe, Sofia Calltorp, has said she would immediately start working to restart stalled investment here and resume exports from the southern African country that plummeted after the controversial land grab programme. Welcoming pledges from President Robert Mugabe for improved cooperation after presenting her credentials at the …

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Nestle powder milk production up 125 percent

Enacy Mapakame and Kudakwashe Mhundwa NESTLE Zimbabwe says production volumes for its Cremora milk powder brand increased 125 percent last year following the introduction of Statutory Instrument 64 of 2016. Corporate communications and public affairs manager Mr Farai Munetsi said this has also created more employment across value chains. “The …

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Fears heighten over cotton side marketing

Government is spending close to $50 million to finance the cotton crop Martin Kadzere Senior Business Reporter SOME private companies might have over stated cotton inputs they gave to farmers to obtain buying licenses, The Herald Business has leant. Information obtained from various common distribution points in most cotton growing areas …

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