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Harare City revenue decline, seeks $3mln for water treatment

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Posted by admin 3 days ago (http://source.co.zw)
HARARE, December 17 (The Source) – Harare City Council’s water department has recorded the lowest revenue inflows in three years, forcing the city to take on a $3 million loan to finance water production and activities. In a report to council’s finance and development committee, Harare water director, Christopher Zvobgo said the department’s revenue were […]

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World Bank sets up fund for Zim, targets to raise $100mln in 2015

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Posted by admin 3 days ago (http://source.co.zw)
By Bernard Mpofu, HARARE, December 17 (The Source) – The World Bank has set up a multi-donor trust fund for Zimbabwe which could raise $100 million next year, a gesture signalling that the institution was re-engaging with the bankrupt southern African country. The global development agency suspended aid to Zimbabwe in 2000 after it defaulted […]

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Struggling Sabi gold mine sells dumps, could reopen in March next year

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Posted by admin 3 days ago (http://source.co.zw)
By Chipo Musoko, HARARE, December 17 (The Source) – Troubled Sabi Gold Mine, a subsidiary of the state-owned mining investment vehicle, Zimbabwe Mining Development Corporation (ZMDC) has sold off its dumps and will receive a deposit $10 million once creditors approve the disposal, the High Court heard on Wednesday. Sabi was placed under judicial management […]

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Steelmakers buys machinery to generate 18MW from industrial waste gas

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Posted by admin 3 days ago (http://source.co.zw)
REDCLIFF, December 16 (The Source) – Kwekwe-based Steelmakers says it will from next year generate 18 megawatts from industrial waste gas to mitigate regular power cuts and reduce overheads after acquiring new technology. General manager Alexander Johnson told The Source on Monday that the move to generate own electricity was driven by a desire to […]

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IPEC threatens action over non-payment of premiums

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Posted by admin 4 days ago (http://source.co.zw)
By Bernard Mpofu, HARARE, December 16 (The Source) – Zimbabwe’s self-administered pension funds have collected $410 million in the nine months to September driven by payment of arrears compared to $283 million during the same period last year as the regulator considers taking action on defaulters. The Insurance and Pension Commission’s latest report on self-administered […]

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TM refurbishments to take five years – MD

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Posted by admin 4 days ago (http://source.co.zw)
BULAWAYO, December 16 (The Source) — Zimbabwe’s second largest retail chain TM Supermarkets says it will complete its rebranding exercise over the next five years after South Africa’s Pick’n’Pay invested $25 million into the business in a bid to grow its market share. With revenues declining in the face of competition from other retailers, Meikles […]

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NRZ, SA firm in marketing, service deal for Bulawayo-Victoria Falls railway line

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Posted by admin 4 days ago (http://source.co.zw)
BULAWAYO, December 16 (The Source) – New Limpopo Project Investments (NLPI) a subsidiary of South African freight and shipping giant, Grindrod has entered into an agreement with the National Railways of Zimbabwe to service and market the 470 kilometre rail between Bulawayo and Victoria Falls to provide a North-South corridor. The state-owned NRZ’s poor financial […]

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2014 in review: Highlights in Zimbabwean internet services

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Posted by admin 3 days ago (http://www.financialgazette.co.zw)
By Garikai Dzoma 2014 has been a fairly exciting year in the ISP arena, with some interesting developments from the different providers. We decided to look at some of the highlights in Zimbabwean internet services over the past 12 months. Mobile Broadband The year will probably be remembered for the introduction of OTT services. These ...

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