Business

ZIMBABWE Stock Exchange is finalizing modalities for the opening of Victoria Falls Stock Exchange (VFEX) offices in the resort town in line with country’s thrust to transform the tourism capital into a fully-fledged offshore financial services centre. Officials from the Zimbabwe Stock Exchange recently visited the resort town to engage …

FAST food outlet, Eat n Lick, has acquired new equipment to improve operations as part of a rebranding drive to keep abreast with international standards. The food outlet, which has 13 branches across the country, saw its expansion programme hitting a brick wall owing to outbreak of the Covid-19 pandemic. …

LEADING hospitality player, Rainbow Tourism Group (RTG) is set to launch another sub-application on its main Gateway Stream application in a bid to give its clients a fulfilling experience. Speaking to NewZimbabwe.com Business Thursday, the RTG head of business Information Systems and Gateway Stream, Taremeredzwa Chipepera revealed more sub apps …

A project that aims to develop Zimbabwe’s biggest platinum mine has cleared a significant hurdle, with the African Export-Import Bank completing a due diligence study allowing it to proceed with a $500 million syndicated funding program. While some work has started on the mine, with $100 million spent to date …

ZIMBABWE could have lost between US$500 million and US$1 billion during the closure of the tourism sector due to the devastating coronavirus lockdown, the Zimbabwe Tourism Authority (ZTA) has estimated. In an interview with NewZim TV’s Business Brief on NewZimbabwe.com, ZTA spokesperson Godfrey Koti said the pandemic had a crippling …

South Africa President Cyril Ramaphosa last week announced a slew of reductions in restrictions to revive the economy that has been hit by the six-month COVID-19 lockdown. Among the measures is the free travel of people in and out of country for business, leisure and other travel which will resume …

Zimbabwe Electricity Transmission and Distribution Company (ZETDC), a subsidiary of Zesa Holdings has increased electricity tariffs, Nhau has learnt. The power utility increased its tariffs by 50 percent with the new prices coming into effect Wednesday September 23, 2020. These adjustments are for tariffs on the prepaid system and do …

09 Sep, 2020  CALEDONIA Mining Corporation, which owns Matabeleland South gold mine, Blanket Mine, has raised US$13 million for the construction of the planned 20MW solar power plant at the mine. Caledonia announced recently that the proposed solar project was part of efforts to address electricity constraints that has over the years affected the mining [...]

09 Sep, 2020 FINANCIAL services institution, Stanbic Bank Zimbabwe, says it is ready to launch contactless debit cards and POS machines as it forges ahead with its highly innovative technology advancement approach accelerated by the Covid-19 new normal. The bank’s head of personal and business banking, Mr Patson Mahatchi, said the “Tap and Go” debit [...]

9 Sep 2020 Turnall Holdings  yesterday revealed  it suffered an 82 percent dip in net profit to $28.1 million  for the half-year ended June 2020 owing to the outbreak of the Covid-19 pandemic. In the comparable period last year, the Zimbabwe Stock Exchange listed  firm posted an after tax profit of $153.1 million. In the [...]