News

Zimbabwe’s Agricultural and Rural Development Authority (Arda) says it requires $25 million for recapitalisation and to purchase new machinery to revive operations at its estates.

(198 VIEWS)

The major shareholder of the collapsed Allied Bank, Trebo & Khays, overvalued and failed to transfer assets pledged as part of the purchase transaction, the bank’s liquidator said today.

(375 VIEWS)

Former Zimbabwe African National Union-Patriotic Front Secretary for Administration Didymus Mutasa’s threat to spill the beans about the 2008 elections could backfire on him as well because he was not an innocent bystander.

(500 VIEWS)

Zimbabwe’s oldest coal miner Hwange Colliery Company, which has slipped into second place in terms of production, says it will embark on an aggressive drive to grow its market in the region and expects to return to profitability in the third quarter.

(227 VIEWS)

Zimbabwe’s state-owned meat processor, the Cold Storage Company (CSC), says it has secured an investor to inject $80 million into its struggling business but government is withholding approval, demanding a forensic audit to ascertain the state of the company.

(265 VIEWS)

Government officials travelling on business should fly economy class in order to limit expenses as the country is struggling to pay the salaries of diplomats on foreign missions, Treasury was told today.

(254 VIEWS)

Zimbabwe’s manufacturing firms want government to consider banning the import of second hand clothes as part of reforms to protect the local industry, Parliament heard today.

(296 VIEWS)

Hotelier Rainbow Tourism Group (RTG) is pushing innovation and new products to grow revenue and market after a ‘difficult’ period in which the company almost collapsed, the chief executive Tendai Madzivanyika has said.

(235 VIEWS)

African Century Limited (ACL), a private leasing firm, has secured a $5 million loan facility from Dutch development bank FMO for on-lending to small to medium enterprises (SMEs).

(205 VIEWS)

Workers unions at struggling state-owned National Railways of Zimbabwe (NRZ) yesterday called for a forensic audit at the parastatal, citing massive corruption and asked government to review public private partnership agreements with a South African firm which they say are not benefiting the company.

(242 VIEWS)