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Big Brother house burns, delays show

big brother

A MASSIVE fire has engulfed M-Net’s Big Brother Africa Hotshots house at Sasani Studios, leading to the immediate cancellation of the start of the the upcoming 9th season of the pan-African voyeur reality show which was set to begin this Sunday 7 September on MultiChoice’s DStv satellite pay-TV platform. No-one was injured in the blaze which engulfed the studio at ... Read More »

Depressed workforce costs economy $100m


A LARGE proportion of Zimbabwe’s workforce is depressed and losing hope for a better future as economic hardships bite, with companies losing out as much as $100 million yearly in productivity losses, an industrial psychology survey has revealed. Zimbabwe’s economy is characterised by high unemployment, while the majority of workers earn salaries below the poverty datum line, estimated at around ... Read More »

Zimbabwe in historic win over Australia in ODI

Zimbabwe celebrating famous win against Australia in the One Day International match in Harare recently.

ELTON Chigumbura hit an unbeaten half century as Zimbabwe defeated Australia for only the second time in a one-day international. Zimbabwe, chasing 210 for victory, won with 12 balls to spare to claim a famous three-wicket win in Harare.  It was the team’s first ODI win over Australia since the 1983 World Cup, their first ever meeting. Since then Australia, ... Read More »

World-class repair facility opened in Harare

World class facility in Harare

THE most time-consuming part of the car- manufacturing process is not the construction process itself but the finishing process which encompasses bodywork protection and top-coating which we commonly refer to as “paintwork.” That coat of paint and the base to which it is applied may well be seen to play little more than a cosmetic role but that’s far from ... Read More »

Emirates celebrates Zim travel agents

Emirates Awards night in Harare.

EMIRATES, which flies daily from Harare to Lusaka and Dubai, has celebrated the importance of Zimbabwe’s travel agents by launching an annual award ceremony to recognise their importance in sparking the nation’s desire for travel. Traverze Travel received the airline’s top award for excellence – Top Agent 2013/14, along with the First Class Top Sales prize for 2013/14, during a ... Read More »

NicozDiamond posts interim profit

Grace-Muradzikwa nice

ZIMBABWE’S largest short-term insurer, NicozDiamond has posted an operating profit of US$1,9 million for the half year to June 30, 2014, a 60 percent increase from US$1,2 million achieved during the same period last year, despite demand for insurance declining due to cash shortages in the economy. Economic activity has been very subdued and demand for insurance has slackened, mirroring ... Read More »

Monetary policy to strengthen financial sector

The new Reserve Bank Governor, John Mangudya

THE Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya has announced new measures aimed at maintaining the stability of the financial sector and improve the overall liquidity situation in the country. The financial sector has been fragile in the multi-currency regime owing to multiple factors that include lack of lender of last resort, an unstable deposit base, under-capitalisation, poor ... Read More »

FBC Holdings crowned best listed firm


ZIMBABWE Stock Exchange (ZSE)-listed banking group, FBC Holdings Limited, was yesterday crowned the best performing counter on the local bourse in the Financial Gazette’s Top Companies Survey 2014. The best ZSE performers were announced at an awards ceremony held in Harare on August 27. The Financial Gazette’s Top Companies survey returned this year after five years out of the corporate ... Read More »

Chasi troubles mount

fortune chasi

DEPUTY Minister of Justice, Legal and Parliamentary Affairs, Fortune Chasi’s fortunes are deteriorating further amidst revelations that he could be censured for being absent without official leave, when earlier in the year he went to a Thomas Mapfumo concert in South Africa, without Cabinet approval. The Financial Gazette understands that in April this year, Chasi unassumingly crossed the Limpopo River ... Read More »

Shock salary increase for chefs


A STORM is brewing between top government directors and the rest of the civil service after salaries for the former were clandestinely increased by more than double that of their deputies. A copy of a salary schedule leaked to this paper indicates that directors of ministries and government departments are now grossing US$1962 in salaries and benefits, up from US$914, ... Read More »