Business

Sugarcane miller, Hippo Valley Estates Limited (HVEL) has revealed that its South African parent company, Tongaat Hulett Limited (THL), is in talks with eight potential investors as part of updating its business rescue plans (BRP). In February, THL’s chief executive officer, Gavin Hudson, resigned after struggling to reduce the company’s …

Plans are at an advanced stage for the construction of a dedicated railway line to connect the US$1,5 billion Dinson Iron and Steel Company (Disco) Manhize plant to Beira in Mozambique, which will enhance efficient bulk cargo movement for exports. The massive integrated iron and steel plant being constructed in …

Zimbabwe businessman, and founder of Econet Wireless, Strive Masiyiwa is one of the business leaders honoured at the inaugural Pan-African Business and Development Awards held on Monday at the 30th African Export and Import Bank (Afreximbank) Annual Meetings in Accra, Ghana. The awards were instituted by the bank in association …

Government has mopped more than ZWL$200bn excess liquidity from the market as part of efforts to control price pressures and keep the market stable, a senior government official has revealed. The intervention occurs as consumer prices for goods and services are skyrocketing as a result of the depreciation of the …

Statistics from Tobacco Industries and Marketing Board TIMB indicate that this is an increase of 52 percent from 177million kg sold during the same period in 2022 at a value of US$169 million dollars. Over 270 million kg of tobacco worth US$817 million have been sold at the auction and …

The Reserve Bank of Zimbabwe (RBZ) director of economic research and policy, Nebson Mupunga, has made startling claims that there is no ‘crisis’ in Zimbabwe but only exchange rate volatity. This is despite the fact that the economy is battling high inflation, foreign currency challenges, liquidity crunch, high cost of …

A cartel in Mberengwa led by Zanu PF aspiring MP for the constituency and gold baron Tinashe “Goga” Shumba has angered the community by invading Janasi Mountain, which is considered sacred, in search of gold, lithium, iron ore, antimony, emeralds and diamonds, without consulting the local community. Villagers also believe …

Zimbabwe’s official exchange rate stabilised Tuesday after three weeks that marked a rapid depreciation of the local currency largely blamed on currency manipulators in the market. Tuesday’s Reserve Bank of Zimbabwe (RBZ) foreign currency exchange auction closed with the Zimbabwe dollar officially trading at a weighted average of Z$6 926.57 …

Econet Wireless Zimbabwe, the country’s largest mobile network operator has with effect from today (Tuesday) hiked data bundles by up to 300 percent. “We are reviewing our ZWL data and SMEs bundle prices effective Tuesday, 20 June 2023,” it said in a brief notice. An 8 gig private WIFI data …

About 20 Chinese investors with cumulative turnover of nearly US$40 billion have shown keen interest to invest in the proposed US$13 billion mine-to-energy industrial park in Mapinga, Mashonaland West Province. The development of the multi-billion dollar industrial park is firmly on course with the investors awaiting the Government to finalise …