Stories

Zimbabwe’s state run logistics firm, Courier Connect says it urgently requires capital injection of up to $3.8 million to stay afloat but is failing to attract external sources of finance owing to a weak balance sheet as it does not own any immovable property.

(205 VIEWS)

Semi-processed iron exporter NJZ Resources Africa says it has engaged a South African locomotive operator to boost rolling stock capacity after it secured orders from China, with the National Railways of Zimbabwe unable to meet its demand.

(304 VIEWS)

The Zimbabwe government should release the $100 million loan facility allocated to small-scale miners last year by the Chinese company, Xuzhou Construction Machinery Group to boost the sector, Parliament heard today.

(279 VIEWS)

Local banks are set to boost their underwriting capacity following the launch of a $32 million fund to finance projects in renewable energy, agriculture and small to medium enterprises, the fund managers said today.

(455 VIEWS)

A company belonging to Zimbabwe African National Union-Patriotic Front Member of Parliament for Chegutu West Dexter Nduna was reportedly involved in a multi-million dollar road rehabilitation scandal in which it was paid $2.2 million but did not complete the job.

(427 VIEWS)

The Deputy Minister of Mines, Fred Moyo,  was taken to task over the supply of faulty equipment to Hwange Colliery by an Indian company in a $31 million deal, with several senators seeking clarification on what was being done and whether the company would be compensated for loss of production.

(307 VIEWS)

Zimbabwe’s chiefs are exempted from paying toll gate fees but only if they are using their official vehicles, Transport Minister Obert Mpofu told the Senate last week.

(302 VIEWS)

Former Mwenezi East Member of Parliament Kudakwashe Bhasikiti had his case in which he was challenging his expulsion from the Zimbabwe African National Union-Patriotic Front thrown out by the Supreme Court yesterday.

(234 VIEWS)

Murowa Diamonds output fell by nearly 50 percent in the first half of the year, global resources giant Rio Tinto has reported after selling off its controlling stake in the mine last month.

(278 VIEWS)

The Deposit Protection Corporation says it will engage shareholders of Tetrad Investment Bank (TIB) to identify a new investor and save it from total collapse.

(308 VIEWS)