Dangote offers refinery stake to Govt
Africa’s richest man, Aliko Dangote, has expressed his willingness to transfer ownership of his multibillion-dollar oil refinery to the state-owned energy company, Nigerian National Petroleum...
View ArticleLifeline to save Tongaat Hulett from ‘predatory plan’
It appears there is still light at the end of the tunnel in the Tongaat Hulett saga following a major development for the beleaguered sugar producer — a significant lifeline has been presented to the...
View ArticleInvictus oil, gas licence renewed for another 3 years
Oliver Kazunga Senior Business Reporter THE Government has renewed, for an additional three years, Invictus Energy’s Special Grant (SG) to explore oil and gas in Muzarabani and Mbire Districts,...
View ArticleRatings firm for Africa ready next year
A credit ratings company being established to meet the unique needs of Africa’s sovereign borrowers is set to be ready by next year, an African Union official said on Saturday. The institution won’t be...
View ArticleIMF warns Zambia’s on de-dollariation
Zambia’s proposed ban on charging foreign currency in local transactions — punishable with 10-year jail terms — might defeat its own purpose, according to the International Monetary Fund (IMF). The...
View ArticleMeikles continues on restructuring path
Business Reporter Meikles Limited is forging ahead with its restructuring programme in a move aimed at streamlining the business. The group will seek shareholder approval to offload some assets at an...
View ArticleCBZ invests US$150m in high-end housing project
Nelson Gahadza Senior Business Reporter CBZ Holdings, through its subsidiary, Datvest, has embarked on a US$150 million housing project, Northgate, a mixed-use residential park with 8 000 housing...
View ArticleWTO members back Okonjo-Iweala for second term
Many World Trade Organisation (WTO) members have shown support for a group of African countries advocating for director-general Ngozi Okonjo-Iweala to pursue a second four-year term, Bloomberg...
View ArticleFaulty airbags alert for COMESA region
A regional competition watchdog has warned member countries about the use of certain brands of vehicles recalled by their manufacturers over faulty airbags that have already caused injuries and...
View ArticleIMF to consider Kenya’s economic plan in August
Kenya has submitted an economic repair plan to the International Monetary Fund and it expects the fund’s board to review it for approval at the end of August, the country’s chief minister told a...
View ArticleContango gets US$1m part payment for Muchesu coal mine
Oliver Kazunga Senior Business Reporter ALTERNATIVE Investment Market (AIM) listed Contango Holdings has received US$1 million advance payment for the acquisition of new ordinary shares by a Chinese...
View ArticleWhy do companies leave the JSE?
If you were a major shareholder, founder, chief executive officer or a family board running a JSE-listed company, why would you consider delisting from the exchange? Beyond all the noise and rhetoric,...
View ArticleSADC Industrialisation Week attracts 1 353 delegates
Business Reporter PREPARATIONS for the Sadc Industrialisation Week (SIW) are firmly on course amid revelations that 1 353 individuals have thus far registered to participate in the event to be held in...
View ArticleChina’s richest man faces US$13bn loss, crown at risk
China’s richest man is at risk of losing the pole position he’s held for almost three years, with his wealth slipping the most among billionaires worldwide as intensifying competition and public...
View ArticleZiG acceptance grows across economy: RBZ
Enacy Mapakame The Reserve Bank of Zimbabwe (RBZ) has noted the growing acceptance of the local currency, ZiG, by both businesses and individuals, as the central bank continues its efforts to stabilise...
View ArticleZSE maintains growth trajectory
Enacy Mapakame The Zimbabwe Stock Exchange (ZSE) maintained a growth trajectory during the six months to June 30, as investors cheered the policy interventions to bolster economic stability. The key...
View ArticleEntrepreneur Mandiwanzira to headline Chamba seminar
Business Reporter MEDIA mogul and serial entrepreneur, Supa Mandiwanzira will headline the next edition of the Venon Chamba Business Seminars scheduled for August 28, 2024. Hosted by business mentor...
View ArticleTreasury’s tough balancing act
Business Reporter Business leaders and captains of industry expect the 2024 mid-term Budget review, set to be presented today, to contain measures that further entrench the free market economy, foster...
View ArticleZiG stability creates growth opportunities: Unifreight
Oliver Kazunga Senior Business Reporter TRANSPORT and logistics company Unifreight Africa says the exchange rate stability of the Zimbabwe Gold has created opportunities for economic stabilisation and...
View ArticlePOSB secures US$10m facility for key sectors
Mike Tome Business Reporter MUTAPA Investment Fund subsidiary, POSB Bank, has secured a US$10 million line of credit from the African Export and Import Bank (Afreximbank) to support key productive...
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