Zimvest

Mining to increase power demand HARARE – Zimbabwe’s power demand is expected to increase significantly in 2012 on the back of industrial growth particularly in the energy intensive mining sector, Zimbabwe Electricity Transmission and Distribution Company (ZETDC) says. This will put more pressure on Zimbabwe, which currently imports 35 percent of its electricity from Mozambique, [...]

Read the full story

Govt tightens screws on platinum miners GWERU — The government has hinted it will soon craft laws to stop platinum miners from exporting the unprocessed mineral after realising it is losing revenue and jobs to South Africa. Mines and Mining Development minister Obert Mpofu said the government was worried about loss of revenue and pilferage [...]

Read the full story

Altfin launches medical aid scheme Altfin Holdings Limited subsidiary Altfin Medical Aid Scheme — in collaboration with mobile phone operator NetOne — yesterday launched a medical aid scheme called MedAccess to provide health access to the uninsured and employees in the informal sectors. Altfin Medical Aid Scheme will provide medical cover while NetOne will be [...]

Read the full story

Prioritise key economic growth areas: SAPST HARARE – Zimbabwe should prioritise key economic growth areas, focused on the policy thrust in the previous three successive budgets since 2009, the Southern African Parliamentary Support Trust (SAPST) says. SAPST, a local legal trust, said the country must set up key provisions to maintain its growth trajectory in [...]

Read the full story

Spar to list on ZSE HARARE – Diversified group Innscor Africa Limited (Innscor) plans to list its Spar business on the Zimbabwe Stock Exchange (ZSE). Julian Schonken, Innscor finance director said the listing of the fast-moving consumer goods business would enhance shareholder return from the retail sector. “The retail sector has experienced tremendous growth since [...]

Read the full story

 PIONEER, UNIFREIGHT SWIFT DEAL ALMOST DONE Pioneer Corporation Africa’s bid to acquire Unifreight Swift is almost complete with only a few loose ends pertaining to indigenisation requirements remaining to be tied up. The Zimbabwe Stock Exchange and the Competition and Tariff Commission have approved the transaction. In terms of the deal Pioneer will issue 514 [...]

Read the full story

The top 10 biz picks of the week PICK ‘N PAY TO INJECT US$21M INTO TM Monday, 17 October PICK ‘n Pay can now inject US$21 million to recapitalise TM Supermarkets after Government approved the South African retailer’s proposal to raise its stake in TM Supermarkets from 25 per cent to about 49 per cent. [...]

Read the full story

BUSINESS NEWS OF THE WEEK 3RD OF OCTOBER TO THE 7TH OCTOBER 2011 During this past week the budget consultative meeting was the talking point of business news with expectations that this budget will require $3.5 billion. Also the ministry of youth and empowerment ran an advert in the press blacklisting companies that it said [...]

Read the full story

The announcement by the government that companies are meeting the empowerment thresholds would really make this the biggest news of the week. However the gems of the week are there as follows; ZIMBABWE GETS JUST 20% OF DIAMOND VALUE- EXPERTS Diamond colleges have accused the government of being concerned with selling the stones rather than [...]

Read the full story

Business news was mainly dominated by the apparent about turn by government on the Zimplats licence which was said to have been cancelled in the previous week.  Internationally the country was in the news over the new central bank restrictions on the movement of money in real estate sales. However here are our business news [...]

Read the full story