News

Foods manufacturer Cairns Holdings has been given a nod by the High Court to enter into a scheme of arrangement with its creditors after securing from an unidentified investor to…

The government has injected $30 million into state-owned Agricultural Bank of Zimbabwe (Agribank) ahead of this month’s deadline for financial institutions to meet minimum capital requirements, the bank said today while reporting a flat performance for the full year to December last year.

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President Robert Mugabe yesterday said Zimbabwe was not a signatory to the Rome Statute, which ushered the International Criminal Court, because “we won’t subject ourselves to justice outside our country’s borders”.

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Zimpost’s agency services are now contributing more than 70 percent of monthly revenue and is seeking more companies locally and regionally to partner and grow the business, an official said yesterday.

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Zimbabwe’s road infrastructure authority sees licence fees collections doubling to $55 million this year from $27 million collected last year, but remains too low to fund the country’s aging road  network,  an official told a Parliamentary committee today.

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Chinese diamond miner Anjin Investments has filed a chamber application seeking a stay of execution against a judgment issued by the Labour Court to reinstate 1 100 employees it fired three years ago while it seeks to appeal the ruling.

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Zimbabwe’s second largest medical insurer Cimas has posted an after tax profit of $4.3 million for the full-year to December 2014 and has increased contributions for its top two packages by 50 percent with effect from July to cope with a high number of claims.

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Zimbabwe President Robert Mugabe, who is current chairman of the African Union, has called on African countries to guard their natural resources because the West was creating wars in some countries so that it can exploit their resources while they are fighting.

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Mines minister Walter Chidakwa has hinted that the government could consider scrapping a 15 percent export tax on unrefined platinum after two major miners submitted plans for local processing, as the industry blames the levy for declining output and earnings.

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Zimbabwe Stock Exchange’s automated trading platform is set to go live next month, a development which could see trades quadrupling, chief executive Alban Chirume said.

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