News

Telecel Zimbabwe, which is currently embroiled in a legal battle with government over its licencing and compliance with the indigenisation law, yesterday declined to appear before a parliamentary committee because its case was before the court.

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Resources group, RioZim’s bid to raise $10 million through a rights offer got a shot in the arm after it received exchange control approval from the Reserve Bank of Zimbabwe for major shareholder GEM RioZim Investments Limited to underwrite the issue, the company said today.

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Econet Wireless Zimbabwe Limited, the country’s biggest telecommunications firm, yesterday reported a 41 percent decline in after-tax profit for the year-ended February 2015, as a government-decreed voice tariff cut and taxes on airtime and mobile handsets ate into revenue.

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Zimbabweans are so desperate for jobs that when Parliament advertised for the post of Clerk of Parliament in February, almost half of those who applied did not qualify because they were too young.

(440 VIEWS)

State-owned meat processor Cold Storage Company (CSC) is making a loss of $6 million every year, stretching over the past ten years, an official has said.

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Zimbabwe should adjust its trade policies in order to become a more attractive investment destination as it is competing with other African countries for Chinese investment, an official said yesterday.

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Zimbabwe has set up a committee, which will include officials from multilateral finance institutions, to come up with a strategy to clear its $10 billion debt, finance minister Patrick Chinamasa has said.

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Information Minister Jonathan Moyo told British Broadcasting Corporation Hard Talk interviewer Stephen Sackur that it was not a fact that Vice-President Emmerson Mnangagwa was heir apparent to President Robert Mugabe but he also refused to condemn or disqualify him because of the Gukurahundi massacres of the 1980s.

(547 VIEWS)

Regional cement producer Pretoria Portland Cement says cement volumes at its Zimbabwean unit went up nine percent in the first half of the year ended 31 March on new marketing strategies implemented during the period.

(207 VIEWS)