BizDay Zimbabwe
BizDay Zimbabwe

Zimbabwe's leading authority on business, finance and investment news.

BizDay Zimbabwe

Zimbabwe's leading authority on business, finance and investment news.


AfrAsia Bank assets go under the hammer

The Deposit Protection Corporation has put assets of the collapsed AfrAsia Bank Zimbabwe under auction to recover creditors money but said cash shortages were affecting the liquidation process. Liquidator Reggie Saruchera of Grant and Thornton on Wednesday said a second dividend was paid to preferent creditors in November last year but di…

The Source

Zimplats sells 10pct stake to employees for $95mln

Zimbabwe’s largest platinum miner, Zimplats on Tuesday said it had transferred 10 percent of its equity to its employees for $95 million. Government approved the plan in September, 2015 as part of a 2013 agreement to sell a majority stake to local black investors for $971 million to meet black ownership targets set by President Robert Mug…

The Source

Equip ZimTrade to deliver export growth

Dr Gift Mugano — I have heard discussions in the policy making corridors of Zimbabwe on the need to establish an export promotion council. However ZimTrade is our export promotion agent. There is no need to set up a new organisation to do the same. I guess that there is realisation that ZimTrade is not delivering with respect to opening…

Herald Zimbabwe

Econet asked to defer EGM

Econet Wireless Zimbabwe has been asked to defer its extra-ordinary general meeting set for tomorrow until it has addressed technical issues relating to its proposed rights issue. Econet intends to raise $130 million through a rights offer and linked debentures sale in order to facilitate the servicing of its foreign debt. Under the propo…

Herald Zimbabwe

OK’s Zireva calls it a day

OK Zimbabwe Limited chief executive Mr Willard Zireva is set to step down on March 31 this year after serving the leading supermarket chain for over three decades. OK Zimbabwe finance director Mr Alex Siyavora will become the chief executive with effect from April 1 this year, said Mr Zireva in internal memo to staff announcing his depart…

Herald Zimbabwe

More reforms needed - IMF

Harare. — The International Monetary Fund (IMF) says Zimbabwe should put in place a comprehensive economic reform plan to ensure successful transformation of the economy.The economy continues to face obstacles due to internal and external factors blocking attempts at improving the socio-economic lives of ordinary Zimbabweans.IMF deputy sp…

Herald Zimbabwe

Floor prices divide mobile operators

The setting of floor prices has divided Zimbabwe’s mobile network operators with some saying it would negatively affect their products while others are saying they need it to recoup the huge operational costs they are having to fund.The floor prices, which caused public outcry at the beginning of the year were set at 12c per minute for tr…

Herald Zimbabwe

TSL FY revenue falls 3pct to $47 million

Agro-Industrial concern TSL reported a three percent drop in revenue to $47.2 million in the full year to October 31, 2016 after the group’s logistics and trading operations performed poorly. Operating profit was down by 17 percent to $5,6 million from $6,8 million in the previous period as margins fell across all business units in respon…

The Source