A potential Malawian investor has set up a fund to inject $10 million into the country’s sole packaging glass manufacturer, Zimglass and negotiations for its takeover have reached advanced stages, its judicial manager has said.
Chinese energy company Chint Electric Company through its local partner Intratrek Zimbabwe says it expects to start work on its $750 million solar project in Gwanda in the second half of the year, an official has said.
Zimbabwe’s tobacco industry regulator has given players up to end of day today to submit presentations on how to reduce the wide discrepancy between contract prices and auction prices as concerns mount over the current pricing model of the golden leaf.
NMBZ Holdings has posted a $1.6 million net profit for the full year to December compared to a loss of $3.3 million reported in prior year, buoyed by cost cuts and a good loan book despite a slight decline in interest income.
An auction of assets belonging to the country’s sole manufacturer of knitting yarn, Karina Textiles, which was placed under provisional liquidation two years ago after failing to raise new investment, failed to take off with no takers for the equipment, the liquidator has said.
The fight for the estate of former army commander General Solomon Mujuru is fast turning into a thriller.