No word from Zimbabwe on halting deal

[Zeenat Moorad] SA's second-largest grocer, Pick n Pay, said on Tuesday (25 January 2011) that it had not received any notification from the Zimbabwean government of its intention to halt its bid to acquire 24% of Zimbabwean retailer TM Supermarkets. 26 Jan 2011 09:10

Zim government blocks Pick n Pay's Zimbabwe acquisition

[Dumisani Ndlela] The Zimbabwe government has blocked the purchase of a 24% stake in TM Supermarkets by South Africa's retail group Pick n Pay due to an indigenisation law requiring foreign and white-owned firms to relinquish control to black Zimbabweans. 20 Jan 2011 11:52

Massmart sells Zim stores to OK Zimbabwe

[Dumisani Ndlela] South Africa's Massmart, a sitting duck for a US$2 billion takeover bid by US retailer Wal-Mart Store Inc., has sold its Zimbabwe unit to retail group, OK Zimbabwe. The deal ends months of speculation over Massmart's planned disposal of Makro Zimbabwe and the identity of the buyer. 10 Dec 2010 11:22

The Banker names Standard Bank best in Africa

The Banker, a global banking and finance industry journal, has named Standard Bank 2010's Best Bank in Africa and best bank in South Africa, Lesotho, Malawi, Uganda and Zimbabwe. 8 Dec 2010 09:28

Meikles to rebrand TM Supermarkets into Pick n Pay

[Dumisani Ndlela] Zimbabwe's Meikles group has agreed to allow Pick n Pay to rebrand TM Supermarkets after a deal in which the South African retailer will shore up its shareholding in the supermarket chain to 49%. 2 Dec 2010 11:28

Zim: "Sanctions are hurting the right people"

[Stanley Kwenda] HARARE: The word "sanctions" was among the first five words mentioned to the new European Union (EU) ambassador to Zimbabwe Aldo Dell Ariccia when he first arrived and met with government officials in Zimbabwe a few months ago. 22 Nov 2010 08:39

Zim: No bargains for Christmas shoppers

[Dumisani Ndlela] Zimbabwean retailers have begun their big push for the 13th cheque - bonus money that always comes ahead of the year-end festive season. The Christmas carols are already playing in decorated shops and complexes, and it is all looking beautiful. 19 Nov 2010 09:18

Zim: Lager volumes hit 10-year high

[Dumisani Ndlela] Lagers and sparkling beverages consumption surged during the six months to 30 September 2010, pushing total beverages volumes for the half-year period to a level not seen since 2005. Lagers volumes reached levels last seen in 1999. 15 Nov 2010 06:54

Zim government opposes sweets for change

[Dumisani Ndlela] Finance Minister Tendai Biti has realised that stability brought to the country by dollarisation has also brought with it some difficulties - hundreds of retail customers have to get their change in the form of sweets because of lack of coins. 1 Nov 2010 08:36

Hope for full global economic recovery in 2010 diminishes

NEW YORK, US: After an upbeat start to the year with two consecutive quarters of increases in optimism, global consumer confidence fell three points in September to an Index of 90 as consumers' hopes for a full economic recovery this year fades in most parts of the world, according to the latest edition of the Nielsen Global Consumer Confidence Index. 27 Oct 2010 06:22

SABMiller restarts reporting of Zim ops

Global brewing giant SABMiller Plc said Monday (18 October 2010) that it has recommenced reporting the results of its Zimbabwe associate, Delta Corporation with effect from 1 April 2010. The business contributed total beverage volumes in the six months to September 2010 of 1.0 million hectolitres, including lager volumes of 0.3 million hectolitres. 25 Oct 2010 10:24

Zim: Meikles Stores runs credit promotion

[Dumisani Ndlela] Zimbabwe departmental stores group, Meikles Stores is targeting 50 000 new accounts between October and December under a partnership with a local financial institution, TN Bank. The accounts will be managed by a TN Bank-Meikles Stores joint venture vehicle, Meikles Credit Services. 11 Oct 2010 08:00

Zim: Credit helps grow sales at Edgars stores

Edgars Stores (Zimbabwe) has reported a significant leap in sales, spurred largely by growth of its credit scheme which made a comeback after dollarisation of the crisis-torn economy last year. 20 Sep 2010 07:30

Irrigation transforms lives in southern Zimbabwe

GWANDA: More than a million people will need food aid in Zimbabwe this year. As the government looks to boost agriculture production, one rural community is leading the way by using irrigation schemes to improve food security and income. 16 Sep 2010 10:50