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This week marks more than two months since former employees of South West Breweries now known as Namibia Breweries Limited, have been camping outside the Ohlthaver & List (O&L) building with no apparent solution in sight.
Namibia is not only an important market in its own right, it is becoming a strategic platform for regional growth.
The BMW Group announced at the end of October that it will invest an additional R2.2 billion at its BMW Plant in Rosslyn near Pretoria. The investment will enable maximum plant capacity to increase from 60,000 to 87,000 units.
The central bank said this week that a a new domestic cheque item limit of N$ 500,000 will be introduced with effect from 10 June 2010.
FNB hired the services of the presidential jet to bring vital client data from South Africa as the bank makes greater effort to make its operations local. The project will cost the bank N$120 million.
COULD it be that Kingdom Financial Holdings Ltd founder Nigel Chanakira is against his management or it is that the institution is disintegrating? Eight senior managers at KFHL are planning to leave after former CEO Onias Makamba parted ways with the institution. Makamba received a golden handshake of US$200 000 from the banking group, businessdigest has established.
TELONE, the state-owned fixed-line monopoly, admitted to restricting calls from landlines to mobile operators to reduce its debts. TelOne owed more than US$22 million to mobile operators in interconnection fees, acting managing director Hampton Mhlanga told the Parliamentary Committee on Media, Information and Communication Technology last Thursday. Interconnection fees are paid between operators ...
EARLY in the year, a high-powered South African business delegation visited Zimbabwe to assess opportunities following the formation of the unity government.
ZIMBABWE will this month sign a Bilateral Investment Promotion and Protection Agreement (Bippa) with South Africa, amid a farm ownership dispute between deputy Reserve Bank governor Edward Mashiringwana and a South African farmer, Louis Fick. Economic Planning and Investment Promotion minister Elton Mangoma this week told journalists that Harare and Pretoria would sign the long-awaited deal on ...
IT is a sweltering November afternoon and Guruve communal farmers ignore the heat, waiting for their turn to receive a bag of fertiliser and 15 kg of maize seed donated by the European Union (EU) and the Food and Agriculture Organisation (FAO) through the Sustainable Agriculture Trust. Success or failure, the farmers know, depends on these inputs as they do not have their own resources to acquire ...
A VICTORIA Falls magistrate court yesterday threw out charges against Zimbabwe Congress of Trade Unions (ZCTU) president Lovemore Matombo and four staffers who were arrested in the resort town on Sunday for allegedly holding a political meeting without police clearance. Magistrate Richard Ramaboea said the police had no business in disrupting the labour organisation's meeting.
GOVERNMENT and mining companies are heading for a collision over a proposed economic policy to raise mining royalties in the next six years. Economic Planning and Investment Promotion Minister Elton Mangoma on Monday presented a draft economic plan that recommended an increase in royalty fees charged to miners. Proceeds generated from the royalties would establish a sovereign fund to hedge future ...
LAST week this column addressed the tragic circumstance that, for most of the last 25 years, major players in Zimbabwe's governmental hierarchy have consistently pursued policies which have devastated the economy. They did so dogmatically, callously disregarding well-informed advices as to what needed to be done to assure a virile economy. They did so in pitiless contempt for the consequential ...
IS anyone sure of what the situation in the country will be in two months' time? This question does not necessarily need a response but only captures the level of uncertainty surrounding us.
ZANU PF this week stepped up its efforts to block in the House of Assembly the Reserve Bank of Zimbabwe Amendment Bill which seeks to limit the powers of the central bank governor.
Mines have sought the intervention of Finance minister Tendai Biti in a bid to recover funds misappropriated by the central bank over the years, businessdigest can reveal. A Chamber of Mines letter seen by this paper sent to Biti appealed to the Finance minister to find ways of "expediting the payment of all funds outstanding to" its members.
PROCESSING company, Ariston Holding's recorded recovery and growth in real terms from last year, a commendable feat although the group's attributable profit remain in the red when compared to other players in the sector.
CFX Financial Services Ltd shareholders yesterday passed all resolutions which had been tabled at the Extraordinary General Meeting paving way for Interfin to inject capital and subsequently take control of the company. Company secretary Patricia Ndoro yesterday said the resolutions passed include re-denomination of the authorised share capital, increase in ordinary authorised share capital, ...
MOST households and industries in Zimbabwe are currently limited to less than 10 hours of electricity supply daily because of power cuts which are a result of lack of investment in power generation since Independence. The hardest hit areas are limited to about five hours of electricity daily.
WHEN President Robert Mugabe attacked former Finance Minister Herbert Murerwa in a televised interview for sticking too much "to textbook economics", many were surprised. His beef with Murerwa was that the then Finance minister had attempted to put a stop to quasi-fiscal activities -- a euphemism for printing money -- before he got sacked from his job.
THE Competition and Tariff Commission has okayed Delta Beverages the acquisition of Schweppes Zimbabwe Ltd saying the deal did not create a monopoly.
FOR Seed Co Ltd the first half of the year is always a cost accumulation period for the business with sales normally limited to winter cereal seeds. Summer seed sales only begin in earnest in October.
MASSIVE retrenchments loom at David Whitehead Textiles Ltd (DWTL) which has escaped going under judicial management. DWTL had a provisional liquidation order at the High Court withdrawn three weeks ago and it was highly anticipated that the company would once again go under judicial management.
THE demise of some of the most revered global banks such as Lehman Brothers in 2008 has taught many investors around the world unforgettable lessons. The contagion touched nerves around the global markets in many angles; from the collapse of the commodity prices, crushing stock markets and the pains of discovering seasoned and polished fraudsters running ponzi schemes such as Bernard Madoff who ...
An innovative new system aimed at speeding up the processing of identity documents (IDs), is currently being implemented at Home Affairs offices around the country.
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