Business
Foodworld and Trade Centre Calls First Creditors’ Meeting as Corporate Rescue Begins
Retail concerns, Westend Foodworld Private Limited (Foodworld) and Trade Centre Private Limited, which were placed under voluntary corporate rescue on the 17th of February 2025 under the Insolvency Act [Chapter 6:07], have called their first creditors’ meeting to verify claims. The companies entered corporate rescue due to viability challenges and Mr Alexious Dera of Moore […]
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Zimbabwe Boosts Tobacco Industry with First Nicotine Extraction Plant
Zimbabwe’s tobacco sector has received a major boost following the completion of a multi-million-dollar manufacturing plant in Harare, set up by Indian company African Extracts. The facility, the first of its kind in Africa, will convert tobacco waste into nicotine and organic fertilizer, marking a significant step in value addition and industrialization. During a visit […]
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Seed Co at 85: Advancing Agricultural Innovation, Climate Resilience, and Policy Alignment for Zimbabwe’s Food Security
Seed Co’s 85th anniversary, marked at the Rattray Arnold Research Station (RARS), was more than a milestone; it was a reflection of Zimbabwe’s evolving agricultural sector and the interplay between scientific innovation and policy direction. The event, held under the theme “Keep Growing,” highlighted the company’s contributions to food security, economic development, and climate resilience—key […]
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ZimTrade Warns Public Against Fraudulent Social Media Pages Impersonating the Organization
ZimTrade, the national trade development and promotion organization of Zimbabwe, has issued a public advisory alerting citizens to the emergence of fraudulent social media pages and groups impersonating both the organization and its Chief Executive Officer, Mr. Allan T. Majuru. A particular entity, operating under the name “Zimbabwean Pride Trading” on platforms such as Facebook […]
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RBZ’s POS Mandate: A Step Towards Efficiency, Security, and Financial Inclusion
The Reserve Bank of Zimbabwe (RBZ) has mandated the use of Point of Sale (POS) machines in businesses as part of the 2025 Monetary Policy Statement (MPS). This move, aimed at improving liquidity management and ensuring compliance with financial regulations, is a significant step towards modernizing Zimbabwe’s economy. While some businesses have expressed concerns about […]
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Moxon has his way as directors are shown the exit door at Meikles
Meikles Limited held its Extra Ordinary General Meeting (EGM) on the 18th of December 2024 which saw directors leave the company after a fall out with major shareholder John Moxon. The company has recently been in turmoil following major shareholder John Moxon’s (48.38%) complain about being sidelined when the board approved the decision to fire then […]
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POSB Not Being Sold: RBZ
The Reserve Bank of Zimbabwe (RBZ) Governor, Dr. John Mushayavanhu, has dismissed claims that the People’s Own Savings Bank (POSB) is being sold, labeling such reports as misleading and false. His statement not only clarifies the bank’s position but also highlights the growing threat of fraudulent activities targeting businesses and financial institutions. The RBZ’s intervention […]
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We own Fintech businesses, Econet
Econet Wireless has moved to clarify ownership of it’s Fintech businesses following the acquisition of Ecocash Holdings by the Tawanda Nyambirai led TN Holdings. There was confusion in the market as to the status of the businesses after news of the acquisition filtered through the market. A joint statement issued by Econet Wireless Limited and […]
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Ariston delay FY24 results publication
Agro- Industrial company, Ariston Holdings Limited says it has delayed publication of the audited financial statements for the financial year ended 30 September 2024 which were due on 31 December 2024. The delay is a result of processes that need to be done around change in functional currency from ZWL to USD, which are being […]
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Business Leaders Applaud RBZ’s Tight Monetary Policy for Exchange Rate Stability
Business leaders have praised the Reserve Bank of Zimbabwe (RBZ) for maintaining a tight monetary policy, which has helped stabilise the ZiG against the US dollar. Speaking before the Parliamentary Portfolio Committee on Budget, Finance, Economic Development, and Investment Promotion, industry representatives welcomed the monetary measures outlined by RBZ Governor Dr. John Mushayavanhu in the […]
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