Zimbabwe Economic News: Barclays, Dairibord product range, $25 mln facelift for TM, solar power plant for Gwanda

Barclays Zim launches new state-of-the-art ATMs


Barclays Zimbabwe has launched state-of-the-art Automated Teller Machines that are aimed at providing its customers with enhanced security and easy transactional experience. The new Barclays ATMs are equipped with keypad covers that prevent other members of the public to see customer transactions. 45 ATMs have already been deployed across 70% of the Barclays network in Harare, Masvingo, Chiredzi, Beitbridge, Chinhoyi, Mutare, Kwekwe, Bulawayo and Victoria Falls. The ATMs offer security features that include security surveillance equipment and screens that blur content when viewed from a distance or from an angle coupled with an SMS offering that confirms transactions real-time – Herald, Wednesday April 10

Dairibord to expand product range


Dairibord Zimbabwe Limited will introduce new products this year to widen its product portfolio as well rebrand some of its current products to remain competitive on the market, DZL managing director Thompson Mabika said there was increasing competition in the dairy industry, some of it coming from South African producers. He said the company has had to re-strategise to beat off competition, including introducing new products and rebranding – Herald, Wednesday April 10

$25 mln facelift for TM


Meikles subsidiary TM Supermarkets will invest $25 mln on transforming its retail outlets to international standards. In a statement, Meikles Limited said the planned investment comes on the back of an inspiring six-fold increase in pre-tax profits for the 11 months to February 28, 2013. Meikles executive chairman John Moxon said the investment was “wonderful news for stakeholders”, as the $25 mln investment would position “TM Supermarkets as a leader in a very competitive industry” – Herald, Wednesday April 10


Govt approves ethanol blend E85


Zimbabwe has stepped up efforts to promote the use of ethanol blend by approving the new ethanol blend E85 that is suitable for flexi fuel vehicles only as the cost of fuel continues to rise. The E85 blend contains 85% ethanol and 15% unleaded petrol and is suitable for flexi vehicles. In a statement yesterday the Zimbabwe Energy Regulatory Authority said the Ministry of Energy and Power Development said it has approved the introduction of a new ethanol blend fuel E85 in Zimbabwe – NewsDay, Wednesday April 10


MBCA Bank to expand Zim footprint


MBCA Bank says it will increase its branch network in Zimbabwe despite indigenisation pressure threatening to scuttle operations. The bank said the move is part of efforts to harness segments that were not traditionally on their target market, MBCA spokesperson Dedrey Mutimutema has said – Daily News, Wednesday April 10

Nico Orgo to open a fertiliser manufacturing plant in Bindura


Organic fertiliser manufacturer Nico Orgo plans to open a fertiliser manufacturing plant in Bindura to cater for farmers in Mashonaland Central Province and the surrounding farming areas. The company has one manufacturing plant in Chitungwiza with a capacity to produce 120 000 tonnes of the product per annum. Nico Orgo commercial director Sylvester Tsikisayi said the Bindura plant would have an installed capacity of between 60 000 and 70 000 tonnes per annum – Herald, Wednesday April 17


European firm to build a $350 mln solar plant in Gwanda


European firm Green Solar Europa, in partnership with a local company, Intratrek Zimbabwe, are planning to build a 100-megawatt solar power plant at a cost of $350 mln. The proposed photovoltaic power plant would be set up in Gwanda, Matabeleland South province, once regulatory approvals have been obtained.  The proposal has already been submitted to the Ministry of Energy and Power Development – Herald, Wednesday April 17

Zim back on track with IMF


Zimbabwe has reached a tentative agreement on an International Monetary Fund staff-monitored programme (SMP) to help it pursue economic reforms and clear its debt arrears, Finance minister Tendai Biti has said – Daily News, Wednesday April 17