News

Mimosa Platinum Mine’s revenue for the full-year to June rose five percent to $272 million as it delivered all time record production of over 236 000 ounces of platinum group metals (4E).

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Integrated financial services group Old Mutual Zimbabwe recorded a 30 percent increase in after tax profit to $13.1 million in the first half of the year to June, driven by a strong performance of its insurance and banking units.

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Zimbabwe’s largest banking group CBZ Holdings’ earnings jumped 17.4 percent in the first half of the year, as higher interest income helped offset cash shortages and sluggish economic growth.

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Zimbabwe’s exports of tobacco are up more than 42 percent as at August 7 earning the country $341 million compared to $240 million last year, statistics from the industry regulator show.

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Zimbabweans need to remove the ‘cancer’ or ‘potholes’ of negativity and discontentment if the country is to move forward, the country’s central bank governor John Mangudya said in his monetary policy statement.

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The governor of the Reserve Bank of Zimbabwe John Mangudya has urged the business community to further reduce their prices because small change is now readily available.

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Possession of gold, which currently has a mandatory five-year jail term, is to be decriminalised if the country’s central bank, which is the custodian of the precious mineral, gets its way.

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Bikita West legislator Munyaradzi Kereke says the government cannot abdicate its duty to feed the nation. It is not only unfair but impractical and unconstitutional to expect the private sector to do that.

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Zimbabwe has received $210 million in loans from external sources to finance various projects in the first six months of the year, the central bank said yesterday.

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Despite being fired from his post as chief executive of resources group, Mwana Africa, Kalaa Mpinga is bidding to retain his position as chairman of its 75 percent owned subsidiary, Bindura Nickel Corporation (BNC) at the company’s annual general meeting at the end of the month.

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