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THE Zimbabwe National Roads Administration (Zinara) says more than 40 percent of the $206 million loan acquired from the Development Bank of Southern Africa (DBSA) for the rehabilitation and dualisation of the Plumtree-Mutare highway was taken up by Zimbabwe Revenue Authority (Zimra).
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Molline Gagare Business Reporter CIMAS Medical Aid Society’s turnover grew six percent to $117 million for the year ended December 31, 2014, the group said. Board chairman, Mordecai Mahlangu said in a financial report that the society posted a relatively solid performance despite a deteriorating operating environment.
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Auxilia Katongomara Business Reporter ZIMTRADE will soon disseminate findings of its market research on the Zambia market, which was conducted in April this year. The survey was aimed at generating specific information on possible export products that local firms could consider for the neighboring country’s market.
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Oliver Kazunga Senior Business Reporter AFRICAN Century Limited (ACL) has secured $5 million credit facility from FMO, a Dutch Development Bank for on-lending to Small and Medium Enterprises (SMEs).
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Business Reporter THE three-day Buy Local Summit kicks off in Victoria Falls today. The conference, which is in its 5th year running, is being organised by Buy Zimbabwe, an initiative that seeks to promote the usage and procurement of locally manufactured products.
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Business Editor A BILL on mineral exploration is set to be tabled before Parliament with legislators pushing for a comprehensive resource evaluation that will pave the way for increased investment in the mining sector.
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Patrick Chitumba Midlands Bureau Chief THE government is working on legislation that will compel foreign owned companies to cede 10 percent shares to Community Share Ownership Trusts (CSOT), Youth Development, Indigenisation and Empowerment Minister Christopher Mushowe said yesterday.
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Harare Bureau THE Reserve Bank of Zimbabwe has disbursed $5 million to gold miners under its accelerated gold production initiative, central bank governor John Mangudya said.
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Oliver Kazunga Senior Business Reporter ECOCASH and its South African partners have secured approval from the South Africa Reserve Bank to start a cross border remittance service from the neighbouring country to Zimbabwe.
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Lovemore Zigara Midlands Correspondent ABOUT 800 workers at Bata Shoe Company staged a mini-demonstration at its Gweru factory yesterday demanding an overhaul of the management. The placard-wielding workers said the company should among other things review bonuses, housing and transport allowances.
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STATE-owned fixed line phone operator, TelOne says it is targeting to increase annual revenue by 140 percent to $381 million driven by growth in data income and grow its voice market share by 21 percent by 2018.
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Senior Business Reporter THE government should allow local companies in the leather sector to import raw materials duty free to promote growth and development of domestic factories, an official said yesterday.
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Molline Gagare and Brighton Gumbo Business Reporters SCORES of Bulawayo residents yesterday swarmed banking halls in the city centre to exchange old Zimbabwean dollar notes and coins for the United States dollars in line with the Reserve Bank of Zimbabwe (RBZ) directive.
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Molline Gagare Business Reporter THE government has launched an investigation into how banks distributed the $10 million youth fund following complaints that many intended beneficiaries were left out. Youth Development, Indigenisation and Economic Empowerment Minister, Chris Mushowe, told a youth gathering in Bulawayo on Thursday
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