Gulliver on the verge of liquidation

May 28, 2015

Creditors of the former listed steel engineering firm, Gulliver Consolidated yesterday voted to dispose of its assets worth $5.3 million…

Dairibord makes inroads into regional market

May 28, 2015

Zimbabwe’s largest dairy processor Dairibord Holdings has reported a six percent rise in revenue for the first four months of…

ZESA warns of 16-hour power cuts

May 28, 2015

Zimbabwe will experience power outages for up to 16 hours a day during the winter season after demand for electricity…

Government wage bill balloons six-fold in six years

May 28, 2015

The government’s wage bill has ballooned almost six-fold since dollarisation in 2009 from $381 million to $2.2 billion. Continue Reading

Medtech sells off loss-making assets

May 28, 2015

Struggling pharmaceutical products distributor Medtech Holdings will dispose of its loss-making units after posting a $1 million loss for the…

Chinese ferrochrome miner lays off 100 workers

May 27, 2015

Chinese ferrochrome miner Xin Yu Mining has resumed operations, three months after shutting down its Gweru plant citing high production…

Tax impacts on Zimbabwe tourism sector

May 27, 2015

Zimbabwe’s 15 percent value-added tax on foreign tourists, introduced early this year, has started to impact on arrivals and revenue…

South Africa’s Sanlam buys 40 percent stake in Zimbabwean insurer

May 27, 2015

South Africa’s biggest insurer Sanlam Ltd will buy a 40 percent stake in a Zimbabwean insurance firm, betting on the…

Tongaat Hulett to increase indigenous outgrowers by 20 percent

May 27, 2015

Sugar cane grower and processor Tongaat Hulett says it plans to increase the number of local farmers growing sugar cane…

Local banks forced to lower interest rates as companies turn to offshore funding

May 27, 2015

The Zimbabwe unit of Barclays Plc has warned that weaker financial institutions may struggle to stay viable as top tier…