News about Zimbabwe that you can use
Zimre Property Investments (ZPI) reported a 600 percent fall in after tax profit to $253 000 for the full year to December on rising voids and a fall in demand for real estate, a symptom of an underperforming economy.
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Chimurenga music guru Thomas Mapfumo is not a member of the Movement for Democratic Change-Tsvangirai so to allege that he has been roped in by the MDC in carrying out treasonous activities is the height of insanity and incredulity, MDC-T spokesman Obert Gutu said in a statement today.
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Quest Motors Corporation (QMC) has secured multi-million dollar contracts to assemble and supply a wide-range of vehicles to the government, a development which will breathe life into the struggling company, an official has said.
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The Tsvangirai faction of the Movement for Democratic Change today said that it was worried about President Robert Mugabe’s frequent absence from Zimbabwe while the economy continues to nosedive.
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Zimbabwe and Germany are seeking to restore political and economic relations following over a decade of frosty relations with the European Union where Europe’s economic power house is a member.
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Botswana-listed retail group Choppies says revenue for its Zimbabwe operations grew by 250 percent to BWP395 million ($39.85 million) in the half-year ended December 2014 after an aggressive expansion that has seen its units growing to 18 from 13 since 2013.
(431 VIEWS)
The country’s largest mortgage lender, Central African Building Society (CABS), recorded a 32 percent increase in total comprehensive income to $22.6 million income for the year ended December 31 2014, driven by a 41 percent growth in deposits.
(336 VIEWS)
Listed resources group Falcon Gold could close operations because of poor commodity prices and is struggling to attract buyers for its mothballed Dalny Mine because of poor investor appetite for Zimbabwe, an official has said.
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The government is prepared to take ‘hard’ measures to reduce its crippling wage bill, which consumes 82 percent of its total revenue and to amend labour laws to make it easier for companies to retrench, finance minister Patrick Chinamasa said at the weekend.
(379 VIEWS)
