Ingwebu Breweries which was unbundled last year needs more than $100 million to be fully turned around, Bulawayo City Council (BCC) mayor, Martin Moyo, has revealed.
Ingwebu has been run under Bulawayo Municipal Commercial Undertaking, a wholly-owned BCC business entity since 1996.
Moyo told NewsDay on the sidelines of the National Tourism Strategic Sector Consultative Workshop held in Bulawayo on Monday that a board of directors to overlook Ingwebu has been set.
“Ingwebu is now a registered private company and it has a new board of directors. Of course, we gave them the vehicle which is dead, so they are still working on the vehicle to put it on the road. So for now, I think we need to be patient and give them more time to turn around the company,” Moyo said.
Asked how much does Ingwebu needs to match its competitors, Moyo said anything less than $100 million would not help revive the company.
“It’s difficult for me to say how much does Ingwebu need, but I can compare it with a competitor, Delta. Delta is well resourced and they have got good equipment, new boilers and their beer has a longer shelf life and so on,” he said.
“These are things needed to be achieved by Ingwebu. Funds that are needed, of course, as shareholders (council) of Ingwebu we don’t have the money to properly capitalise it. We think there is more that needed to be done.”
“Maybe, we could be talking about millions of dollars. Well, I don’t think anything less than, let’s say $100 million would really do them any good. They will need significant money, so that they can stand out and begin to compete on the market,” he said.
Apart from privatising Ingwebu, the BCC has already leased some of its bars around the city.
The brewery has operated under difficult conditions and stiff competition, in an industry dominated by Delta Corporation’s Chibuku brands.
News from NEWSDAY.CO.ZW
Barclays will sell shares worth $2.83 billion in Barclays Africa Group, the bank said on Thursday, increasing the size of the planned stake sale due to investor appetite and marking a completion of its planned sell down.
In Zimbabwe, the bank signed a binding agreement to sell off its majority ownership of the local unit to Malawi-based First Merchant Bank according to several media reports.
“A binding agreement was signed between Barclays Plc and FMB in London on Tuesday while an application for regulatory approval was made to the Reserve Bank of Zimbabwe (on Wednesday),” the state-controlled Herald newspaper reported on Thursday.
FMB, which has banking assets in Botswana, Mozambique, and Zambia, would own 42 percent of Barclays Bank Zimbabwe, while Barclays Plc will retain 10 percent and workers getting the remaining 15 percent, the report added.
The Zimbabwe unit, along with Barclays Bank Egypt sit outside Barclays Africa Group. The British bank said it would sell 286 million shares in Barclays Africa or 33.7 percent, with South African pension fund Public Investment Corporation acting as an anchor investor.
The shares will be priced at 132 rand a share, raising an aggregate 2.2 billion pounds, the bank said, leaving it with a residual 15 percent stake once it places 12.7 million shares in a black economic empowerment scheme.
The bank said in March it would sell most of its 62.3 percent stake in Barclays Africa Group to focus more on the United States and Britain markets.
Barclays is partly relying on funds raised from the sale to meet capital requirements that were identified as a concern by the Bank of England in a November “stress test” aimed at gauging its ability to withstand financial shocks.
South Africa’s finance minister has approved the deal, ABSA Bank, which forms the bulk of Barclays Africa Group said on Wednesday.
Barclays will pay its African subsidiary 765 million pounds to cover the costs of the separation, the bank said in a separate statement, confirming an announcement in February. It will also contribute around 110 million pounds towards the establishment of a broad based black economic empowerment scheme.
– Reuters/The Source
Running a business in Zimbabwe is hard work, and it can be easy to get down or lose your motivation. With that in mind, Everyone needs some inspiration, and these motivational quotes will give you the edge you need to create your success. So read on and let them inspire you.
1)You must be the change you wish to see in the world. – Mahatma Gandhi
2)There’s no shortage of remarkable ideas, what’s missing is the will to execute them. – Seth Godin
3)The winners in life think constantly in terms of I can, I will, and I am. Losers, on the other hand, concentrate their waking thoughts on what they should have or would have done, or what they can’t do. – Dennis Waitley
4)The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer. – Nolan Bushnell
5)Winning is not a sometime thing; it’s an all time thing. You don’t win once in a while, you don’t do things right once in a while, you do them right all the time. Winning is habit. Unfortunately, so is losing. – Vince Lombardi
6)I had to make my own living and my own opportunity! But I made it! Don’t sit down and wait for the opportunities to come. Get up and make them! – C.J. Walker
7)“Its hard to wait around for something you know might never happen; but its harder to give up when you know its everything you want.” – Unknown
8)If you cannot do great things, do small things in a great way -Napoleon Hill
9)There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.Henry Ford
10)”All our dreams can come true if we have the courage to pursue them.” –Walt Disney
11)”Good things come to people who wait, but better things come to those who go out and get them.” –Anonymous
12)”If you do what you always did, you will get what you always got.” –Anonymous
13)”Great minds discuss ideas; average minds discuss events; small minds discuss people.” –Eleanor Roosevelt
14)”There are two types of people who will tell you that you cannot make a difference in this world: those who are afraid to try and those who are afraid you will succeed.” –Ray Goforth
15)The mind is everything. What you think is what you become. –Buddha
16)When one door of happiness closes, another opens, but often we look so long at the closed door that we do not see the one that has been opened for us. –Helen Keller
17)You can’t fall if you don’t climb. But there’s no joy in living your whole life on the ground. –Unknown
18)In order to succeed, your desire for success should be greater than your fear of failure. –Bill Cosby
19)Build your own dreams, or someone else will hire you to build theirs. –Farrah Gray
20)A person who never made a mistake never tried anything new. – Albert Einstein
21)”Though no one can go back and make a brand-new start, anyone can start from now and make a brand-new ending.” Carl Bard
22)”Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” Mark Twain
23)”Successful people do what unsuccessful people are not willing to do. Don’t wish it were easier; wish you were better.” Jim Rohn
24)”Would you like me to give you a formula for success? It’s quite simple, really: Double your rate of failure. You are thinking of failure as the enemy of success. But it isn’t at all. You can be discouraged by failure or you can learn from it, so go ahead and make mistakes. Make all you can. Because remember that’s where you will find success.” Thomas J. Watson
25)”Successful and unsuccessful people do not vary greatly in their abilities. They vary in their desires to reach their potential.” John Maxwell
Whether you intend to market your brand nationally and locally,or to sell your unwanted goods, advertising on the internet can be a very effective way to get your message across. In the digital age we live in, there are more options than ever before for companies and individuals to reach their potential customer base. And while traditional advertising methods are still valid for many brands, there are several advantages for advertising on the internet.The number of Zimbabwean internet users is always on the rise and being used by people of all ages and at all times of the day. The internet has become one of the most used means of communication and entertainment. Every day we use social networks like Facebook or messenger apps like WhatsApp to reach our friends and families. Internet is slowly substituting traditional advertising, the way people get news and the way we sell products or services that’s why many innovative entrepreneurs in Zimbabwe are now using free on-line classifieds sites like our website, Zimfreeads.com
Here are the benefits:
1)Time Saving – Individuals looking for anything like properties for sale in Zimbabwe are now able to view full property details including all the pictures and information without leaving the comfort of their homes therefore saving time and money.The information is always available every time unlike in local newspapers.
2)Wider geographical reach – On-line advertising gives your campaigns instant global coverage, therefore reaching more audiences especially if you also want to target people in the Diaspora. This will definitely help you achieve superior results via your on-line advertising strategy through our free Zim classifieds platforms.
3)Mobile Devices- Most newer websites like ours are now built with responsive design that enables anyone to post adverts online using any internet mobile device like a smartphone .
4)Online advertising allows you to target your audience so well,that you only need to post adverts on our Zim classifieds site with the right title for example “Houses for sale in Zimbabwe” so that your ad will also be served to people looking for related services and products on Google like “Properties for sale in Zimbabwe” or even “Houses for rent in Harare”
5)Large capacity information-Capacity to provide information on most classifieds website is unrestricted.Businesses or individuals can add adverts with hundreds of words without having to worry every minute of the second about costs unlike the expensive newspaper way of advertising.Companies can put their products and services,including product price,pictures and detailed description.
6)Free – There is no excuse why individuals and businesses should not advert online. Platforms like ours, www.zimfreeads.com provide a 100% free service where you can post as many adverts as possible for absolutely free.Your adverts will be viewed instantly worldwide and all you need is an internet connection.We also provide a free 24/7 support service by Whatsapp or email for those who need help to set up account,post adverts or enquire for more information.
While advertising online might not be for everyone,businesses and individuals should embrace the new digital age in order to boost sales and profits.There is many innovative entrepreneurs in Zimbabwe already taking advantage of it and you should be part of it.
Post by ZimFreeAds Team
Facebook : www.facebook/zimfreeads
Whatsapp only : +44 786 141 3452
Thinking about going to Zimbabwe on holiday or safari ? Here are some reasons why you should visit Zimbabwe.
•The magnificent Victoria Falls classified as one of the seven natural Wonders of the World
•Zimbabwe is home to four World Heritage Sites – Victoria Falls, Mana Pools National Parks, the Great Zimbabwe Ruins and the Kama Ruins which became the centre of power under the Shona people after the decline of Great Zimbabwe
•Lake Kariba is one of the largest manmade lakes in the world, with abundant game sightings and excellent angling for bream and tiger fish
•Zimbabwe features magnificent National Parks including Hwange, Mana Pools, Matusadona and Chizarira
•Adventure activities abound and include canoeing on the lower Zambezi and Kayaking and rafting on the upper Zambezi, White water rafting and bungi jumping are just two exhilarating pursuits available in the Victoria Falls area
•For high adventure enthusiasts, white water rafting is most exciting when the Zambezi waters are low – generally from August to December – and is often referred to as the best one-day white water rafting in the world
•Zimbabwe abounds in fascinating history and culture
•Canoeing down the Lower Zambezi affords an ideal opportunity to get close to nature
•Hospitality and friendliness of all Zimbabweans
•Magnificent scenic areas in the Eastern Highlands