admin‘High theatre charges keep us away’
Stephen Chifunyise Theatre Corridors
I received several interesting comments from last week’s article. Below is one of them that I got from Terence Tendai Masiya of Harare who wrote: “I would like to comment on the low attendance at Theatre in the Park. As I see it, the major cause is
Bad debts could reduce bank profits
Bright Madera Senior Business Reporter
THE majority of banks in Zimbabwe are likely to report reduced profits to the year to December 2011, as it has emerged that some banks were sitting on huge bad debts. Companies will start publishing financial statements next month and figures are
Econet, TelOne face legal action
Business Reporter
THE National Employment Council for the Communications and Allied Services Industry has threatened legal action against Econet Wireless, TelOne and Zimpost if they fail to register with the NEC in terms of the law. This follows the recent gazetting
Tele-density up 7,2pc
Tawanda Musarurwa Business Reporter
ZIMBABWE’S tele-density rose by 7,2 percent last year in a development that should boost the local telecommunications sector.
The tele-density rate now stands at 74,7 percent from the 67,5 percent that was recorded at the close of 2010, figures from the
Exchange rate, erratic rains likely to spur inflation
Tawanda Musarurwa Business Reporter
ZIMBABWE’S annual inflation for 2011 closed at 4,9 percent, 0,4 percent higher than initial Government projections of 4,5 percent, but remained in line with the broad target of below 5 percent by the end of this year. Inflation denotes the rate or magnitude by which prices increase over a given period, either measured over a one-year period or on a monthly basis. To
ZMDC seeks over US$20m to resume SMM operations
THE Zimbabwe Mining Development Corporation (ZMDC) on Sunday said it requires at least US$20 million to resume operations at Shabanie Mashava Mines (SMM). SMM, which has been at the centre of a protracted ownership wrangle between former owner Mr Mutumwa Mawere and the Government, is now owned by the ZMDC. Before it was transferred to ZMDC, SMM
Hunting, safari revenue up 16 percent
Revenue from hunting and safari activities for last year increased by 16 percent to US$11,6 million from 2010 figures due to an improvement in the macro-economic situation in the country, an official has said. In 2010 earnings topped US$10 million, up 20 percent from the previous year with at least 65 percent of clients coming from America followed by Europe. Safari Tour
Zimra makes progress on AYSCUDA
Business Reporter
THE Zimbabwe Revenue Authority has made some progress in improving the performance of the AYSCUDA system at the country’s border posts. ASYCUDA is an acronym for Automated System for Customs Data, an automated customs clearance
Green Fuel aims to increase power production
Ethanol producer Green Fuel this week announced that it is aiming to increase power generation to a maximum of 18 megawatts by July this year, up from 4,5 megawatts currently being produced. Green Fuel has a US$600 million ethanol production and processing unit in Chisumbanje Estates, Manicaland Province. The plant is currently producing 4,5MW with the
Zim needs to actualise the MTP implementation
KM Financial Solutions convened the Third edition of the CEO Africa Roundtable at Troutbeck Resort in Nyanga from February 17 to 19 2011. A total of 200 decision-makers assembled in Nyanga to deliberate on a “Building a US$100 billion Economy for Zimbabwe by 2030” (now adjusted to 2040). This included chief executive officers from the private sector and