Business

Obert Mpofu’s Allied Bank feels the heat

Liquidator of the collapsed Allied Bank, Cecil Madondo, who is being sued by one of the creditors seeking to recover money locked in the financial institution, has said the Deposit Protection Corporation (DPC) must provide answers to the bank’s creditors. Zimbabwe Amalgamated Housing Association (Zaha) is seeking to recover nearly $1,5 million locked up in the financial institution. Allied Bank, ...

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NMB Bank helps parents ensure prompt payment of school fees

NMB Bank is now offering school fees loans to working parents, no matter what school their children are attending, enabling them to ensure that school fees are paid in full and on time. The loan is available to both existing and new customers. Once approved, the bank pays the school fees directly to the school. To qualify for a school ...

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Prophet Magaya brings business to a halt

Prophetic Healing and Deliverance Ministries leader Prophet Walter Magaya brought business to a standstill in Harare when he led a clean up campaign in the Central Business District on Saturday. Clad in a white dust coat, Prophet Magaya exchanged his Bible for the broom. Shoppers and vendors scrambled to have a glimpse of the acclaimed prophet. Some roads in the ...

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Nigerian billionaire eyes Zimbabwe

NIGERIAN billionaire, Tony Elumelu has expressed an interest in investing in Zimbabwe if he discovers good opportunities in the country. Elumelu visited Zimbabwe in 2015 and toured the First Family’s Alpha and Omega dairy before meeting captains of industry, raising hopes that the billionaire was keen to set up businesses in the country. “We just came to survey the environment ...

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Zimbabwe Diamond Company sits on 300m tonnes diamond ore

Mines minister Walter Chidakwa told Parliament yesterday that the Zimbabwe Diamond Mining Company (ZCDC) still has 300 million tonnes of diamond ore to mine in Chiadzwa. Chidakwa said new Mines secretary Munesuishe Munodawafa would not interfere with the ZCDC board like what transpired with former secretary Francis Gudyanga. He said ZCDC had to date surpassed the previous year’s diamond production, ...

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Telecel’s new promo rewards subscribers for reactivating lines

Telecel has announced the introduction of a new promotion, the Reactivation Promo, which gives suspended subscribers bonus airtime, data and SMSs for reactivating their inactive lines. The benefits are also available to new subscribers coming onto the network for the first time. The reactivation promotion which is now live is giving new and returning pre-paid Telecel subscribers a welcome bonus ...

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Joseph Made approves $300m Command Livestock

Cabinet has approved the $300 million Special Programme on Livestock Production that is expected to run for between three and five years. Livestock farmers from all sectors – communal to A2 and institutions including churches, Prisons and Police farms across the country are expected to benefit. A2 farmers are however expected to anchor the programme. The programme will cover all ...

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Inflation rises to 0.75pct in May

HARARE – Zimbabwe’s annual inflation for the month of May gained 0.27 percentage points to 0.75 percent, the national statistics agency reported on Thursday. The month on month inflation rate in May 2017 was 0.03 percent shedding 0.02 percentage points on the April 2017 rate of 0.05 percent, Zimstat said. The inflation rate is expected to average 1.1 percent this ...

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Emirates offering travellers from Zim opportunity to visit Dubai

Emirates is offering travellers from Zimbawe the opportunity to visit Dubai with a special Economy and Business Class return airfare that includes a free Visa, a free third piece of luggage of up to 23 kg and a “My Emirates Pass”. Under the special offer, an Economy Class ticket from Harare to Dubai costs US$499 and Business Class US$1,999. The ...

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ZDF secures 337 housing stands in Bulawayo

The Zimbabwe Defence Forces has secured 337 housing stands in Bulawayo for its members under the Zimbabwe Defence Forces Benefit Fund. This is revealed in the Bulawayo City Council latest minutes. Minutes states that the Acting Director of Housing and Community Services reported that the Zimbabwe Defence Forces benefit fund was a military organization whose objective was to secure residential ...

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