Company News

National airliner, Air Zimbabwe (Private) Limited, is hunting for a new chief operating officer (COO) to replace Simba Chikore, who resigned from November 1.

Nampak Zimbabwe recorded a 13,5 percent growth in net income for the year to September 30 to $4,9 million from $4,3 million in the prior period.

The Zimbabwe Energy Regulatory Authority (ZERA) has granted Zimbabwe Power Company licence for its $140 million Gwanda solar plant project, which will have capacity to produce 100 megawatts, paving the way for the start of plant construction works.

Independent Power Producer, Uhuru Energy, has secured $51 million from a Chinese State-owned firm for the first phase of its $300 million solar photovoltaic project.

THE country's largest telecoms network operator Econet Wireless Zimbabwe Tuesday launched a new mobile money product 'Swipe into Ecocash', which will enable bank card holders to easily convert moneys in their accounts into Ecocash.

Axia Corporation reported a six percent increase in after tax profit to $15,3 million in the year ended June from $14,5 million last year on increased revenue.

BANCABC has set aside $16 million for the 2017 /2018 sugarcane production season in the Lowveld, as the financial services group consolidates its presence in this previously under-serviced but critical sector.

African Chrome Fields (ACF) is set to commission a $15 million state-of-the-art aluminothermic plant to process chrome fines into ferrochrome by February next year, a company official said yesterday.

About 10 companies in Belgium are reported to be eyeing The Gambia for investment in various sectors of national development.