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Tourism industry on rebound

Zimbabwe’s hospitality industry is looking forward to closing the year with an above 50% capacity utilisation, but challenges such as price distortions, fuel shortages and power load-shedding still remain a threat to the industry’s viability. BY MTHANDAZO NYONI Hospitality Association of Zimbabwe president Innocent Manyera told NewsDay that though the …

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NRZ deal to be finalised soon: DIDG

In 2017, a consortium of investors, Diaspora Infrastructure Development Group (DIDG) partnered South Africa’s Transnet and won the $400 million tender to recapitalise the National Railways of Zimbabwe. NewsDay (ND) reporter Mthandazo Nyoni sat with DIDG executive chairman Donovan Chimhandamba (DC), to understand why the deal has taken long to …

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Oil prices fall

Oil in New York fell below $60 a barrel for the first time since March after a surprise jump in American crude inventories alleviated concerns over a supply crunch, while fears of a full-blown trade war between the US and China weighed on the outlook for demand. Futures fell as …

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SA rand at risk

The South African rand is at risk from an imminent re-weighting of a major emerging market share index so that more Chinese shares are included at the expense of SA shares, according to analysts at ABSA, South Africa’s largest lender. Many global investors simulate the composition of their portfolios on …

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A vital water management tool

The use of water meters or other acceptable measuring devices has always been key aspect in water resources management. While many people, especially those using raw water for irrigation and other purposes are very sceptical about the installation of meters in their operations, the use of water meters is a …

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Zesa reconsiders Dema power plant

Tawanda Musarurwa Senior Business Reporter The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has approached Sakunda Holdings over possible resumption of electricity generation at the private firm’s Dema diesel power plant. The Dema power plant has been mothballed for the past 18 months after Zesa’s transmission and distribution arm said …

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RBZ warns banks over forex abuse

Golden Sibanda Senior Reporter The Reserve Bank of Zimbabwe (RBZ) has warned it will take punitive action against banks flouting exchange control regulations after noting rampant abuse of nostro (domestic) foreign currency accounts (FCAs). It was also noted some banks were taking too long to credit foreign currency from proceeds …

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US firm invests in Zim agriculture

BY FIDELITY MHLANGA CORTEVA Agriscience (Corteva), a division of United States-based global agricultural inputs provider, DowDupoint has entered into a strategic partnership with a local company, Valley Seeds, to oversee the distribution of seeds. Corteva sells Pioneer and Pannar seed brands in Zimbabwe and offers crop protection technologies to address …

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Insurance companies to ring changes to business

Melody Chikono ZIMBABWE’S insurance regulator is working on a guidance paper on treatment of the sector’s assets and liabilities in response to the country’s currency reforms, an official has said. The Insurance and Pensions Commission (IPEC) has been trying to reform the sector as part of recommendations of a commission …

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Yeast maker targets regional markets

BY Stephen Chadenga Gweru-based yeast manufacturer, Lesaffre Zimbabwe, formerly Anchor Yeast, is targeting the regional market following a $10 million upgrade of its plant, which has had the company up its capacity, a Cabinet minister has said. “I am advised that Lesaffre already exports the products to Zambia and Malawi, …

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