News

Struggling pharmaceutical products distributor Medtech Holdings will dispose of its loss-making units after posting a $1 million loss for the full-year to December.

(282 VIEWS)

Chinese ferrochrome miner Xin Yu Mining has resumed operations, three months after shutting down its Gweru plant citing high production costs, but has terminated contracts for close to 100 workers, officials said yesterday.

(291 VIEWS)

Zimbabwe’s 15 percent value-added tax on foreign tourists, introduced early this year, has started to impact on arrivals and revenue flows, an industry body said yesterday.

(746 VIEWS)

South Africa’s biggest insurer Sanlam Ltd will buy a 40 percent stake in a Zimbabwean insurance firm, betting on the industry’s growth in a country facing a liquidity crunch and weak domestic savings.

(350 VIEWS)

Sugar cane grower and processor Tongaat Hulett says it plans to increase the number of local farmers growing sugar cane in its Zimbabwean Lowveld operations by 20 percent to over 1 000 by 2017 from 850 this year.

(229 VIEWS)

The Zimbabwe unit of Barclays Plc has warned that weaker financial institutions may struggle to stay viable as top tier banks compete with foreign banks that have increased their exposure on the domestic market offering below-market interest rates to firms with strong business models.

(272 VIEWS)

NMB Bank has received a line of credit for $7 million from an unnamed investor and is expecting a further $5 million in the next two months to bolster the bank’s lending capacity in line with its growing loan book.

(245 VIEWS)

A trade mission from the United States will visit Zimbabwe in June to scout for investment opportunities, in a sign the southern African state’s bilateral relations with the world’s largest economy could be improving.

(424 VIEWS)

OK Zimbabwe, the country’s largest retailer, has reported a 22.2 percent decline in after-tax profit in the year-ended March 2015, largely attributable to persistently depressed consumer demand.

(228 VIEWS)

Former Finance Minister Tendai Biti says Zimbabweans must build the country on mistrust because if they put their faith in individuals, they will be let down.

(389 VIEWS)