News

A potential Malawian investor has set up a fund to inject $10 million into the country’s sole packaging glass manufacturer, Zimglass  and negotiations for its takeover have reached advanced stages, its judicial manager has said.

(553 VIEWS)

Chinese energy company Chint Electric Company through its local partner Intratrek Zimbabwe says it expects to start work on its $750 million solar project in Gwanda in the second half of the year, an official has said.

(522 VIEWS)

Zimbabwe’s tobacco industry regulator has given players up to end of day today to submit presentations on how to reduce the wide discrepancy between contract prices and auction prices as concerns mount over the current pricing model of the golden leaf.

(2464 VIEWS)

NMBZ Holdings has posted a $1.6 million net profit for the full year to December compared to a loss of $3.3 million reported in prior year, buoyed by cost cuts and a good loan book despite a slight decline in interest income.

(421 VIEWS)

An auction of assets belonging to the country’s sole manufacturer of knitting yarn, Karina Textiles, which was placed under provisional liquidation two years ago after failing to raise new investment, failed to take off with no takers for the equipment, the liquidator has said.

(401 VIEWS)

Cement maker Sino-Zimbabwe will spend up to $5 million in capital expenditure this year to double its output from the current 300 000 tonnes annually by year end, a company official has said.

(451 VIEWS)

Zimbabwe government’s domestic borrowing jumped 52 percent to $544.03 in January year-on-year from $358.80 million in the same period a year ago, the central bank said on Thursday.

(452 VIEWS)

Crocodile breeder Padenga has reported a 21 percent growth in profit after tax to $6 million for the full year ended December 2014 driven by raw skin sales, the company said on Thursday.

(579 VIEWS)