Ndaka Majaka AUSTRALIAN Stock Exchange (ASX) listed mining company, Invictus Energy (Invictus), has announced a trading halt on its shares on the Australian bourse pending release of an announcement, expected by Tuesday. Invictus – the firm looking to explore the Cahora Bassa Basin oil prospects in Muzarabani – earlier this week announced completion of an […]
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Ndaka Majaka THE first batch of Zimbabwe’s new two and five-dollar bank notes are set to be issued on Monday next week, the Reserve Bank of Zimbabwe (RBZ) governor has said. RBZ chief, Dr John Mangudya told ZTN that along with the new two-dollar bond coin, the notes are set to be disbursed next week. […]
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FIXED telephone services provider, TelOne, has launched its own mobile sim card, in a move set to provide an affordable and accessible communication platform for its customers. The launch comes at a time when almost every other network is reviewing mobile data tariffs on a weekly basis. Confirming the launch of the “Blaze Sim”, Tel-One’s […]
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Ndaka Majaka LISTED resources firm, RioZim, is experiencing a subdued second half on the back of power cuts, amid indications its gold production went down by over 117 kilogrammes in the first six months of 2019. Zimbabwe is reeling from incessant power cuts which are crippling business operations. Riozim chairperson, Saleem Rashid Beebeejaun, said output […]
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Ndaka Majaka ZIMBABWEAN drinkers are feeling the pinch of economic difficulties as they are failing to purchase their beverages of choice, it has emerged. Zimbabwe’s biggest beverage maker, Delta Corporation (Delta), says it recorded a 40 percent decline in lager beer volume in the second quarter to September 30 on the back of inflationary pressures […]
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Ndaka Majaka THE 13th cheque is likely to elude most private sector employees this year amid indications that most employers are incapacitated and unable to extend bonuses, the Employers Confederation of Zimbabwe (EMCOZ) has said. EMCOZ Executive Director Nester Mukwehwa said employers would use their discretion in determining the issues around bonus, given the country’s […]
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Ndaka Majaka LOCAL bakers are losing an average of RTGS$400,000 per day as Zimbabweans dump bread on the back of a 60 percent hike in the staple’s price, it has been learnt. Sources in the baking industry said returns were averaging 30 percent as production had also been cut in light of depressed sales. Retailers […]
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ZIMBABWE’S national carrier has announced that foreign nationals are now required to purchase tickets using foreign currency. Air Zimbabwe says only locals will now be allowed to purchase tickets using the Zimbabwean Dollar. In a sales bulletin dated October 30, 2019 the airline revealed that holders of foreign passports, embassies, Non-Governmental Organisations and residents whose flights […]
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Ndaka Majaka THE Reserve Bank of Zimbabwe says it is investigating 50 companies which are manipulating the foreign currency exchange rate. Central bank governor, Dr John Mangudya, said the RBZ was investigating company accounts, including those which were frozen recently, pointing out that these companies were driving the parallel market rate. “50 percent of the […]
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Ndaka Majaka Fuel prices have gone up, once again. A collective sigh of relief by Zimbabweans following a two week fuel price stability was cut short on Monday night, as the Zimbabwe Energy Regulatory Authority released a new fuel price schedule. The incessant fuel price increase has been attributed to Free On Board, FOB costs […]
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