Edgars Stores raises local merchandise production
Edgars Stores Limited says it has consolidated its supply chain by partnering local suppliers and increasing its production at its Carousel factory, which has helped the group control the quality of...
View ArticleBancABC reinforces forex transaction handling capacity
BancABC said it has enhanced its capabilities to support foreign currency-related transactions in line with the obtaining environment.
View ArticleZimTrade eyes regional, Malaysian markets
Business Correspondent National trade development and promotion agency, ZimTrade, is ramping up efforts to boost the visibility of Zimbabwean products in regional and emerging markets such as Malaysia....
View ArticleFCB sees 26pc uptick in full-year after-tax profit
Business Reporter Victoria Falls Stock Exchange (VFEX) listed First Capital Bank (FCB) reported a 26 percent increase in profit after tax for the year ending December 31, 2023, reaching US$15,4 million...
View ArticleUganda is latest African nation eying gold as a currency shield
Uganda plans domestic gold purchases to build foreign exchange reserves and limit risks on reserve investments, becoming the latest African nation to turn to the precious metal to back up its currency....
View Article2024 National budget review set for July 25
Oliver Kazunga Senior Business Reporter FINANCE, Economic Development and Investment Promotion Minister Professor Mthuli Ncube will present the Mid-Term Budget Review Statement to Parliament on the...
View ArticleNedbank secures US$25m credit for exporters, farmers
Lovemore Kadzura in MUTARE Major commercial bank Nedbank Zimbabwe has accessed a US$25 million line of credit for exporting firms and horticultural producers. Speaking on the sidelines of the highly...
View ArticleCroco Motors partner OK Zimbabwe
Croco Motors have partnered with OK Zimbabwe to ensure the Grand Prize of OK Grand Challenge main prize winner – Cuthbert Magora rolls out in his brand-new Next Gen Ford Ranger XLT. Croco Motors also...
View ArticleMixed fortunes for insurance sector
Business Reporter The short-term insurance sector experienced mixed fortunes in the first quarter of 2024, according to the latest industry report from the regulatory authority. Overall, the sector...
View ArticleTraders head to Main Street as rate cut hopes boost small caps
Global stocks drifted on Friday, masking a strong rotation on Wall Street out of big tech stocks and into small companies expected to benefit from rate cuts, while strong signals that Japan had propped...
View ArticleSA’s Media24 halts job cuts, newspaper closures
In a stunning reversal, South African media group Media24 has halted plans to close several print titles and dismiss employees, pending regulatory approval for the planned sale of its distribution...
View ArticleNew efforts to promote private equity in Zim
Martin Kadzere A new entity has been launched to foster the development and growth of private equity and venture capital (PEVC) in Zimbabwe, a move likely to boost the country’s entrepreneurial...
View ArticleNigeria’s oil production shows signs of recovery
Nigeria’s daily oil production for June increased slightly from its figure the previous month. Production of oil in the West African country increased by 25 000 barrels per day. This is a step in the...
View ArticleUganda struggles to explain origin diesel cargo
Uganda’s bid to supply low-cost fuel got off to a messy start last week with the landlocked country now being charged millions of dollars more by Kenya in bond fees, just 12 hours after the first batch...
View ArticlePharmaceutical sector targets 18pc market share
Michael Tome Business Reporter ZIMBABWE’S pharmaceutical industry is looking to increase the market share of locally manufactured medicines and drugs to 30 percent by next year. In 2023 the sector...
View ArticleGold nears record as traders bet on US rate cuts
Gold rallied toward a record as expectations for Federal Reserve rate cuts grow and traders ramp up bets on a second Donald Trump presidency. Spot bullion rose 0,8 percent to just below US$2 443 an...
View ArticleNigerian refineries lose US$1,8bn to oil theft
According to the Nigeria Extractive Industries Transparency Initiative, Nigeria lost 619,7 million barrels of oil valued at US$46,16 billion over a 12-year period. Additionally, the country lost...
View ArticleSA power model may be adopted across Africa
The Development Bank of Southern Africa said it’s seeking to roll out a tendering model across the continent for the supply of power from renewable energy that’s attracted more than R200 billion (US$11...
View ArticleEconet plans to expand 5G network
Michael Tome Business Reporter ECONET Wireless Zimbabwe (EWZ) plans to increase its 5G network coverage to enhance overall network performance and quality of service to customers. In the quarter to...
View ArticleHCCL partners with Chinese firm in new US$50m mine project
Business Reporter HCCL Holdings Limited, formerly Hwange Colliery Company Limited, has partnered with Chinese company Zhong Jiani Investment (ZJI) for a US$50 million new underground coal mine in the...
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