ACL advances $9,7m leases to SMEs

African Century Limited (ACL) is a lease financing company providing support to mostly small to medium enterprises. NewsDay (ND) business reporter Mthandazo Nyoni spoke to the company’s managing director, Stanley Matiza (SM) about the company’s performance and future prospects, among other issues. Below are excerpts from the interview. ND: What …

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AirZim needs $12m to stay afloat

AIR ZIMBABWE judicial manager Reggie Saruchera says he is pushing authorities to avail a $12 million package to maintain the airline’s fleet and acquire additional aircraft. Saruchera told parliamentarians during a tour of the company that his immediate plan was to have two airbuses and two Ambraers in the sky …

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TIMB hikes weighing, auction charges

THE Tobacco Industry Marketing Board (TIMB) has hiked floor-clearing charges, weighing and auction fees, further eating into the earnings of farmers already hard-pressed by depressed prices this season. The weighing and auction fees were raised from ZWL$25 to ZWL$48 per bale and floor-clearing charges were raised to ZWL$4 per bale. …

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Zim to be food insecure by September: USAid

MOST of the country’s districts will be food insecure by September due to a poor 2018/19 harvests and “escalating” macroeconomic hardships, a food security report by the United States Agency for International Development (USAid) has revealed. “Most poor households across the country have below-average incomes from crop and livestock sales …

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Trump, Xi call the shots in global economy

Finance chiefs from the biggest economies rang the alarm over global growth and said they’re prepared to do something about it. Too bad they’ve never been less relevant. Gone are the days when investors used to quake over ministers moving a comma or adding a period in key sentences. If …

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SA rand firms

JOHANNESBURG. — South Africa’s rand started the week firmer against the dollar yesterday, recovering some ground after steep losses last week against the US currency. Among factors supporting the rand, the United States shelved plans to impose tariffs on Mexico and investors hoped for lower US interest rates on the …

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Gold prices fall

Gold fell 1 percent yesterday, retreating from a 14-month peak hit in the previous session after a deal between the United States and Mexico to avert a tariff war prompted investors to ditch the safe-haven metal for riskier assets. Spot gold was down 1 percent at $1,326.50 per ounce as …

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FAO disburses $30m to agric sector

Food and Agricultural Organisation (FAO) says it has disbursed loans worth US$30 million to finance the country’s agric sector aimed at boosting the production of different crops by small holder farmers. This comes as commercial funding to the country’s agricultural sector is heavily subdued. According to studies made by the …

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Govt sets target for ferrochrome output

GOVERNMENT has set an annual target of 2 million tonnes for ferrochrome production as authorities prime the chromium sector to play a key role in the country’s economic revival. Government is targeting to leverage the economy on the country’s vast mining potential and has set to grow exports from the …

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Cottco optimistic of new hybrid varieties

The new cotton hybrid varieties Cottco intends to introduce could catapult annual output to about 1,1 million tonnes, managing director Mr Pious Manamike said last week. A research undertaken by Cottco last year — under drought conditions — showed each plant produced an average 120 balls, which translate into about …

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