Company News

Chinese company, China Industrial International Group Zimbabwe, will roll out 5 000 low-cost houses countrywide utilising steel technology.

VICTORIA FALLS, June 20 (The Source) – Zimbabwe has signed a comprehensive agreement with unnamed Chinese investors for the construction of its ‘Disneyland in Africa’, a tourism and conference theme park in the resort town of Victoria Falls, the tourism minister said on Wednesday.

KWEKWE, June 13 (The Source) – The newly constructed Livetouch Cement manufacturing plant in Redcliff near Kwekwe has began production, but on a low scale, the chief executive has said.

HARARE, June 13 (The Source) – Zimbabwean investment group, Brainworks Capital says it plans to list on the Johannesburg Stock Exchange (JSE) later this year, with an Initial Public Offer (IPO) that seeks to raise about $25 million set for next month.

Fast moving consumer goods producer, Probrands, has commissioned a $3,6 million Ultra-high temperature dairy plant in Ruwa as the company seeks to increase its raw milk purchases to one million litres a month before the end of the year.

Zimbabweans are now consuming more and more spirits, wines and ciders, with ZSE listed African Distillers (Afdis), in which South Africa’s Distell has shares, saying revenues have risen 10% to $14 million on the back of increased consumption.

HARARE, May 23 (The Source) – Zimbabwe’s largest retail operator, OK Zimbabwe reported an 800 percent increase in net income to $6,1 million in the year to March from $700,000 last year on improved revenue.

HARARE, May 11 (The Source) – Cigarette maker BAT said its first quarter performance was generally flat compared to the comparative period last year, but expects a strong second half anchored by investments in the company’s core brands, which enjoy close to 70 percent market shar...

HARARE, May 11 (The Source) – CBZ Holdings’ income in the first quarter to March increased 7 percent to $37,7 million, driven by a surge in business in the three month period.