Business

Zimbabwean-born billionaire firm lists on New York Stock Exchange

A Zimbabwean-born billionaire owned technology company, Pivotal Software, has listed on the New York Stock Exchange. The company’s chief executive Mr Rob Mee said listing as a public company was a major milestone in their journey towards transforming the tech world. “Since Pivotal’s founding, we’ve worked towards an ambitious mission to transform how the world builds software and we’ve now ...

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Banks in Zimbabwe urged to reduce interest rates

THE Reserve Bank of Zimbabwe (RBZ) was engaging banks to reduce interest rates on loans to stimulate production across various sectors of the economy, Vice-President Constantino Chiwenga has said. Speaking at the official opening of the Zimbabwe International Trade Fair (ZITF) business conference in Bulawayo yesterday, Chiwenga said interest rates should be reduced to encourage production in the manufacturing sector. ...

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Econet and the mystery of disappearing data

REPORTS have emerged of increased disappearing data from Econet Wireless’s mobile subscribers on the telecom company’s daily and weekly data packages, which the company blames on subscribers’ mobile phones using background data. While smartphones do use background data, the number of affected mobile subscribers has begged a new look into the mystery of Econet and disappearing mobile data. Last week, ...

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Zimbabwe’s international re-engagement and socio-economic recovery

The government of Zimbabwe is pursuing an agenda for economic recovery and promoting itself as a trade and investment destination following a presidential transition in November 2017. This ‘new economic order’ includes ambitions to normalize relationships with international partners, creditors and investors. Delivering on promises of growth is imperative in a country where over 80 percent of economic activity is ...

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Econet under fire over business deal

The Postal and Telecommunications Regulatory Authority (Potraz) has received a complaint against Econet Wireless Zimbabwe over allegations of possible unauthorised use of another company’s interlectual property. The complaint comes from M Comm Africa Limited who have already gone to court. The allegations stem from a pitch for a security product, “Panic Button” made to Econet by local company M Comm ...

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NetOne has extended operating hours

NetOne has extended operating times, with the country’s second-biggest mobile phone operator’s shops staying open for longer on Saturday, and opening for business on Sundays. On Saturday, the telecoms firm will now be operating from 8am to 4pm, while on Sunday, operating hours will extend from 11am to 4pm. Previously, Saturdays were open from 8am to 1pm and closed on ...

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RBZ to keep a watchful eye on NGOs

The Reserve Bank of Zimbabwe (RBZ) Financial Intelligence Unit Deputy Director, Oliver Chiperesa, has said that government will employ monitoring mechanisms to ensure that Non-Governmental Organisations (NGOs) do not fund terrorist activities. NANGO reported that the deputy director said this at an awareness workshop for NGOs on terrorist financing and vulnerability of Non-Profit Organisations sector that was held by the ...

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Zim officials engage World Bank, IMF

The Minister of Foreign Affairs and International Trade, Dr Sibusiso Moyo together with the Reserve Bank of Zimbabwe governor, Dr John Mangudya are in New York interfacing with officials from the world’s most leading financial institutions, the World Bank and IMF. Speaking to ZBC News today, the Special Advisor to the President, Ambassador Chris Mutsvangwa who is accompanying the two ...

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Bread prices go up

A survey conducted by H-Metro yesterday showed that the prices went up by 10 cents. Previously, the bread price was 90 cents for a standard loaf and a dollar for the popular Bakers Inn, Lobels and Proton Super loaf, which was completely taken off the market yesterday. Having withdrawn the $1 super loaf, the bakeries are now selling the formerly ...

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Econet gets licence to generate solar energy

Econet Wireless Zimbabwe (Econet) has been given a licence to generate power to meet the electricity and energy needs at its Willowvale premises in Harare. The Willowvale complex is a major hub for Econet’s switching and network operations infrastructure. The Zimbabwe Energy Regulatory Authority (Zera) said the licence allows the mobile telecommunications giant to “construct, own, operate and maintain Econet ...

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