Stories

The world’s second largest platinum miner, Impala Platinum says it has seen mixed performances at its Zimbabwe units with tonnes milled at Zimplats going down 11 percent to while Mimosa went up by nine percent in the third quarter ended  March 31.

(248 VIEWS)

Plastic and steel products maker, Phoenix Consolidated which is currently under judicial management, recorded a turnover of $8 million last year compared to $2 million when the company was placed under administration nearly two years ago.

(246 VIEWS)

Cable manufacturer Cafca’s revenue grew by 41 percent to $14 million for the six months ended 31 March compared to the prior year driven by exports and local sales but the company bemoaned poor prices which hit earnings.

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The labour union representing sacked Mbada Diamonds workers has appealed to the National Employment Council for the mining industry to mediate in the dispute, calling the dismissals ‘unlawful.’

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The Bulawayo business community has asked government to suspend its move to undertake pre-shipment standard compliance monitoring on goods destined for Zimbabwe, which is meant to reduce the importation of substandard goods, saying the programme would result in higher business costs.

(282 VIEWS)

Activist shareholders of gold and nickel miner Mwana Africa have forced the convening of an extraordinary general meeting on June 9 where four non-executive directors could be ejected through a vote, bringing a simmering board dispute to a head.

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Creditors of the troubled foundry company Apex Holdings, which has now been placed under provisional  liquidation by the High Court today voted to dispose of its assets, mainly buildings worth $9 million to recover part of the $11 million owed.

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SABMiller’s Zimbabwe beverage manufacturer Delta Corporation reported a four percent decline in revenue to $576.6 million for the full year to March 2015 on depressed sales values and volumes from both its sparkling drinks and larger beers.

(251 VIEWS)

The Morgan Tsvangirai-led faction of the Movement for Democratic Change may challenge the passage of the Reserve Bank of Zimbabwe Debt Assumption Bill which passes on the central bank’s debt of $1.3 billion to the government because it argues that some of the legislators from the Zimbabwe African National Union-Patriotic Front who voted for the bill were beneficiaries.

(302 VIEWS)

The City of Harare says a twinning agreement with the South Korean city of Cheonan provides an opportunity to access concessional funding to address the Zimbabwean capital’s housing challenges.

(244 VIEWS)