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Central bank bemoans social media abuse

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has bemoaned the abuse of social media by other members of the society, saying the practice had cost the nation socially, financially and economically. BY MTHANDAZO NYONI Mangudya told NewsDay last week that fake social media articles had cost the nation a …

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Farmvest woo investors for agricultural equipment leasing

FARMVEST has launched a new investment opportunity which will allow locals and the diaspora a chance to invest in a part ownership purchase of agricultural equipment to be rented out to farmers. BY BUSINESS REPORTER In a statement last week, Farmvest said the new opportunity came about due to the …

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‘Open skies policy won’t hurt Air Zim’

Africa Moyo recently in BULAWAYO Government says the “managed liberalisation” of domestic routes to allow other airlines such as fastjet will not negatively impact on Air Zimbabwe’s revival chances, Transport and Infrastructural Development Minister Dr Joram Gumbo said yesterday. Dr Gumbo said this in a speech read on his behalf …

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Zinwa profit jumps 172 percent

Golden Sibanda Senior Business Reporter The Zimbabwe National Water Authority’s (Zinwa) profitability jumped 172 percent to $1,8 million in the year to December 2017 on the back of strong growth in revenue; as the authority also recovered from the drawbacks of the massive debt write off in 2013. Zinwa acting …

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Premier weighs restart options for RHA Tungsten Mine

Tawanda Musarurwa Business Reporter Zimbabwe focused diversified mining group Premier African Minerals, says the management of its tungsten project — RHA Tunsgten Mine — has carried out an in – depth assessment of alternatives to re-open the mine. Premier is currently developing a number of projects in the country, namely …

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Mergers, acquisitions in Africa decline

Total deal volumes and values of Merger and Acquisition (M&A) transactions in Africa fell sharply in the first half of 2018, declining 44 percent in deal volume and 57 percent in aggregate value, compared to the first half of 2017, according to analysis by Baker McKenzie of Thomson Reuters M&A …

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Matobo tourist arrivals surge 11% to 11 513

TOURIST arrivals at Matobo National Park surged 11% to 11 513 during the first quarter of the year, spurred by the growth in both foreign and domestic arrivals, an official has said. BY MTHANDAZO NYONI In emailed responses to NewsDay, Zimbabwe Tourism Authority (ZTA) chief executive Karikoga Kaseke said the …

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New machinery set to move mountains for Makomo

PRIVATE Hwange coal miner, Makomo Resources, says it expects to ramp up its production in the third quarter of this year to surpass last quarter’s figures by 50% following acquisition of new machinery. BY MTHANDAZO NYONI Makomo managing director Raymond Mutokonyi told NewsDay yesterday that they were anticipating a significant …

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Markets, depressed prices stifle small-scale chrome producers’ efforts

The Zimbabwe Miners Federation (ZMF), an umbrella board representing small-scale miners, recently elected a new leadership led by the former Zimbabwe Football Association administrator, Henrietta Rushwaya. NewsDay (ND) business reporter Mthandazo Nyoni caught up with ZMF’s newly-elected secretary-general Lindi Mpofu(LM) to discuss issues affecting the sector and listen to the …

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