business

HARARE – CBZ Holdings Limited, Zimbabwe’s biggest financial services group, announced the layoff of 347 employees, representing 24 percent of its workforce, as part of a major restructuring initiative. The company confirmed the job cuts in a statement released on February 1, 2025, affecting staff across its operations. The reductions bring total staffing down from […]

HARARE, ZIMBABWE– Mukuru, a leading next-generation financial services platform, has officially launched its new mobile wallet in Zimbabwe. The launch follows Mukuru’s recent award of a Deposit-Taking Microfinance Institution (DTMFI) licence by the Reserve Bank of Zimbabwe. This milestone brings enhanced digital financial solutions to over three million Zimbabwean customers. The newly introduced Wallet offers […]

A sharp decline in Meta Platforms’ shares led to a staggering $18 billion drop in Mark Zuckerberg’s fortune. This downturn enabled Elon Musk of Tesla to secure his status as the third-wealthiest individual globally. Meta’s shares plunged by 11 percent in New York on Thursday, prompted by the company’s forecast of second-quarter sales falling short […]

Qatar Airways has announced that it will begin operations in Zimbabwe on Tuesday, marking the airline’s first landing in the country. The move is part of Zimbabwe’s efforts to open its skies and attract more international airlines as part of its Second Republic’s open-air policy. The airline will operate seven weekly flights between Lusaka and […]

Strive Masiyiwa who owns Zimbabwe’s largest telecoms company Econet, is acquiring a 53% stake in Mascom Wireless, Botswana’s largest mobile operator, for an estimated $300 million. In a statement issued by MTN on Thursday on the sidelines of releasing its 2018 financials, the South African company said it is selling its stake in Mascom and […]

Bank of England has warned that Britain Faces its weakest economic growth in a decade The Bank of England announced that Britain faced its weakest economic growth in 10 years in 2019, the bank cited mounting Brexit uncertainty and the global slowdown. But the bank stuck to its message that interest rates will rise, if […]

The number of people heading to the Boxing Day sales has fallen for the third year running despite some heavy discounting, retail analysts have said. Springboard, which examines information from UK High Street and shopping centre cameras, said average footfall up to 16:00 GMT was 3.1% lower than in 2017. It suggested 26 December was […]

HARARE- Econet Wireless is now the most valued counter on the ZSE after class A shares held by the majority shareholder EWG were integrated to the free-float ordinary shares previously recognized as the entire ordinary share capital on the ZSE. Before the consolidation Econet’s ordinary share capital as recognized by the ZSE amounted to 993,746,764. […]

Young voters in Zimbabwe hope the first election without Robert Mugabe will mark a change in a country where most of them are unemployed, and say the older generation has failed to deliver them a future. Monday’s contest pits Emmerson Mnangagwa, a former Mugabe deputy who became president after his boss was ousted, against Nelson […]

ZIMBABWE tobacco sales have hit a record 237.1 million kilograms according to official data presented last Friday by the Tobacco Industry and Marketing Board (TIMB). Tobacco is Zimbabwe’s highest foreign currency earner followed by gold. In 2017 tobacco exports topped $900m, which was a marginal decrease from $933m from the previous season. The high increase […]