Category Archives: Business

Vast registers record output in Q3

AIM-listed Vast Resources registered a record output for the third quarter ended September 30, spurred by increased output at its two operations in Romania and Zimbabwe. BY BUSINESS REPORTER “Q3 2017 was a record quarter for Vast, which saw operations at the Manaila Polymetallic Mine in Romania and the Pickstone-Peerless Gold Mine in Zimbabwe outperform the previous quarter in terms

Read more

Afdis seeks share option scheme approval

AFRICAN Distillers Limited (Afdis) is seeking shareholder approval for an employee share option scheme of four million shares meant to incentivise and retain employees. BY TATIRA ZWINOIRA In a notice of the annual general meeting slated for November 9, company secretary Lydiah Mutamuko said the rules of the scheme have been approved by the Zimbabwe Stock Exchange (ZSE). As such,

Read more

17 Zim entrepreneurs access Emelu funding

At least 17 young Zimbabwean entrepreneurs from various sectors of the economy will this year get seed capital from the Nigerian billionaire, Tony Elumelu to grow their businesses. BY FIDELITY MHLANGA IN LAGOS, NIGERIA This comes after the Tony Elumelu Foundation (TEF) Entrepreneurship programme which commenced in 2015 has committed $100 million towards empowering up to 10 000 entrepreneurs across

Read more

CZI to release manufacturing sector survey report

THE Confederation of Zimbabwe Industries (CZI) will release its 2017 manufacturing sector survey report on Wednesday, amid indications that capacity utilisation will surpass the 47,4% mark achieved in 2016. BY MTHANDAZO NYONI Addressing delegates at a pre-budget meeting in Bulawayo recently, CZI Matabeleland Chapter president, Joseph Gunda said the results were likely to be positive due to the growth experienced

Read more

Investors shun tourism sector

ZIMBABWE Tourism Authority chief executive, Karikoga Kaseke has said fewer local and international investors have been taking up investments in the Tourism Development Zones (TDZ) due to economic constraints. BY TATIRA ZWINOIRA The TDZs are specific zones meant to provide incentives to attract tourists and prioritise them in the national tourism agenda. “In the past 10 years, it [uptake of

Read more

Capacity utilisation seen surpassing 47 percent

CZI Matabeleland president Mr Joseph Gunda stresses a point during the Business Chronicle Pre-Budget dialogue last week Business Reporter ZIMBABWE’S industrial capacity utilisation is expected to rise above last year’s figure of 47,4 percent despite some challenges that have seen some companies facing production bottlenecks mainly due to shortage of foreign currency. Confederation of Zimbabwe Industries Matabeleland president Mr Joseph

Read more

The future of Africa is trade: Standard Bank

Stanbic Bank Zimbabwe’s parent company, Standard Bank, has said sub-Saharan Africa is the second fastest growing region in the world presenting a future cross-border trade and economic environment that could, one day, emulate Asia in diversity, opportunity and growth. BY BUSINESS REPORTER Efficient, effective and sustainable trade structures and technologies are central to achieving this vision for growth — and

Read more
1 2 3 111