BUSINESS NEWS

'Govt should not allow Telecel to appoint a Swedish national' - AAG

THE Affirmative Action Group says Government should not allow Telecel Zimbabwe to appoint Swedish national and Canadian resident Mr John Swaim as interim managing director of the mobile phone operato...

By Golden Sibanda | Published: 10 June 2013

BUSINESS NEWS

RBZ to raise minimum capital requirements for microfinance institutions

THE Reserve Bank of Zimbabwe plans to raise minimum capital requirements for microfinance institutions from the present US$25 000 to US$5 million as part of a cocktail of measures the central bank sa...

By Staff Reporter | Published: 10 June 2013

BUSINESS NEWS

NSSA increases pension benefits

Those who become eligible for a social security pension after next month will, if they are earning between $350 and $700 and have been contributing to the pension scheme since its inception, receive ...

By Mike Hamilton | Published: 10 June 2013

BUSINESS NEWS

Investor interest sharpens in Imara Zimbabwe conference

The Zimbabwean government's quarterly report on the state of the economy has sharpened investor interest in the progress being made in the mining and agricultural sectors ahead of the upcoming Imara...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Emirates offers Zimbabwean travelers up to 10% discount

Emirates has announced a flash sale which will offer Zimbabwe travelers up to 10% discount on fares to selected destinations.Valid for tickets booked and purchased through Emirates website, the prom...

By Own correspondent | Published: 10 June 2013

BUSINESS NEWS

Forced indigenisation of banks is uninformed, says Gono

Central Bank Governor Gideon Gono said plans to force foreign banks to sell majority stakes to black Zimbabweans are "uninformed.""The rush to indigenize the banking sector is more driven by emotions...

By Bloomberg | Published: 10 June 2013

BUSINESS NEWS

European Investment Bank returns to Zimbabwe

THE European Investment Bank will be making a second comeback to Zimbabwe having suspended dealing with the country due to unpaid arrears accumulated by the government.Ambassador Aldo Dell'Ariccia, ...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Banks adopt conservative lending as polls loom

Local banks are expected to adopt a cautious lending approach due to the high levels of non-performing loans and uncertain economic environment as the country gears for elections later this year, a l...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Man sues Telecel for $340 000

A Harare businessman has filed a High Court application seeking an order barring Telecel Zimbabwe from running the popular Mega Promotion on the basis that it was a "stolen idea".Mr Peterson Tengende...

By Daniel Nemukuyu | Published: 10 June 2013

BUSINESS NEWS

'Our current Income Tax Act is very much in favour of the mining industry,' says Biti

GOVERNMENT wants to rationalise the tax regime so that it is not discriminatory against the poor and treat everyone fairly, a Cabinet minister has said.Finance Minister Tendai Biti said the curren...

By Staff Reporter | Published: 10 June 2013

OPINION

Can companies do business without corruption?

The chief executive of the Ethics Institute of South Africa, Professor  Geoff Rossouw, will be addressing members of the Institute of Directors tomorrow (Thursday) on the question of whether com...

By Chengetai Chinembiri | Published: 10 June 2013

BUSINESS NEWS

Zimbabwe urged to replace imports with local produce

A Bassfisherman's ApproachACCORDING to recent statistics, the trade deficit between Zimbabwe and South Africa is  US$530 million. Zimbabwe is importing goods worth US$3,2 billion from South Afri...

By Ben Chiganze | Published: 10 June 2013

POLITICS

Senior Zanu-PF official threatens Tongaat Hullet

MASVINGO Provincial Governor Titus Maluleke has warned that the Government might be forced to take over Tongaat Hullet if the South African agro-industrial giant continues to frustrate the indigenisa...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Fuel prices go down

Zimbabwe's fuel prices have gone down by an average 8c after surging at least 10c following the hike of excise duty on the commodity. Petrol price which had increased to as much as $1,60 per litre h...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Credit bureau needed in Zimbabwe

TRUWORTHS Zimbabwe says the absence of a credit bureau in Zimbabwe was hampering efforts to reign-in bad debtors.Speaking at the presentation of the company's financial results for the interim period...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Agribank in shareholding wrangle

A DEAL that would have seen a foreign investor snap up a 35% equity in the Agricultural Bank of Zimbabwe (Agribank) collapsed after a wrangle for control of the bank erupted between two government mi...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Govt limits shareholding in banks

GOVERNMENT plans to limit individual and corporate bodies' shareholding by 5% and 25% respectively in any banking institution as part of instilling corporate governance and responsibility in the sect...

By Staff reporter | Published: 10 June 2013

OPINION

An analysis of the Zimbabwe economy

Speech made by Deputy Prime Minister Arthur O Mutambara at the Zimbabwe Investment Conference held South Africa, on April 3 2013.THERE is need to rethink the imperatives and meaning of a successful Z...

By A.O. Mutambara | Published: 10 June 2013

BUSINESS NEWS

Magara ready for leap of faith

AS Zimbabwean-born Ben Magara unbuckled the bungee jump harness after jumping off Victoria Falls bridge three weeks ago, his phone rang with the news that he had got the top job at the world's third-...

By Business Times | Published: 10 June 2013

BUSINESS NEWS

Banking amendments to affect most directors

GOVERNMENT is set to bar directors of banking institutions and holding companies from taking up similar positions in more than two other companies, according to proposed amendments to the Banking Act...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Zimra exceed target collections by 5%

The Zimbabwe Revenue Authority (ZIMRA) exceeded target collections for the first quarter of this year by 5 percent to reach US$818, 6 million, an official said yesterday. In a statement, ZIMRA boar...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Zimbabwe rejects Telecel's indigenisation plans

Mystery surrounds Telecel Zimbabwe's indigenisation proposals amid indications that government is not satisfied with the company's plans submitted more than 2 weeks ago. Government had given Telecel...

By Staff reporter | Published: 10 June 2013

POLITICS

Zimbabwe to hike mining taxes to bankroll elections

Zimbabwe will increase mining royalties soon to raise $132 million to bankroll the forthcoming elections, Finance minister Tendai Biti has said.  The $100 million that had been promised by Pret...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

National Foods wins Best Zimbabwean Food Group Exhibit prize

National Foods won the prize for the Best Zimbabwean Food Group Exhibit at the Zimbabwe International Trade Fair in Bulawayo last week.Malawi President Joyce Banda, who was the guest of honour at t...

By Mike Hamilton | Published: 10 June 2013

BUSINESS NEWS

ZITF was an improvement

Professor Welshman Ncube has said the 54th Zimbabwe International Trade Fair (ZITF) was an improvement from last year because high quality products were showcased as compared to last year.The 2013 ...

By New Ziana. | Published: 10 June 2013

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