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Africa worries over international trade wars

The spectre of trade wars has Africa worried and the continent is now coming up with ways to fast-track its agreements in an effort to protect itself. BY BUSINESS REPORTER In a statement, African Union commissioner for trade and industry, Albert Muchanga, said there were emerging risks in the international …

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Zimbabwe risks being thrown out of FATF

ZIMBABWE risks being secluded from the French based organisation, Financial Action Task Force (FATF) if 40 of the international recommendations made by the institution are not adhered to, a legislator has warned. BY KUDZAI MUCHENJEKWA Speaking at public hearing of the Money Laundering and Proceeds of Crime Amendment Bill last …

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Economic growth based on agriculture risky

LAST week, the country’s largest seed manufacturer, Seed Co, reported lower than expected levels of seed production due to disease and bad weather, which could be foreboding for lower agricultural yields this year. By TATIRA ZWINOIRA Since November 2017, President Emmerson Mnangagwa has been touting an economic turnaround based on …

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Govt chases equity investment

FINANCE minister Patrick Chinamasa says the government is now pursuing a new model on investment that prioritises equity over international loans, which have seen the country’s external debt souring to over $11 billion. BY TINOTENDA MUNYUKWI Speaking in Harare on Monday at the Water Resources Infrastructure Investment Conference, Chinamasa told …

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Slice Distributors goes regional

Livingstone Marufu Business Reporter Slice Distributors is planning to go regional before year end as competition on fast foods business intensifies. This comes after various fast foods outlets have sprouted in the country over the past five months, prompting the firm to go regional, in the process, spreading risk and earn …

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MSMEs need to speak with one voice

Dr Sanderson Abel The Micro, Small and Medium Enterprise (MSME) sector has been identified as a key pillar of economic recovery for Zimbabwe and it is not surprising that a lot of healthy and inquisitive questions are being asked by stakeholders about this sector. One of the key economic questions …

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Seed Co profit jumps 5 percent

Business Reporter Zimbabwe Stock Exchange (ZSE) listed seed producer, Seed Co, after tax profit for the year to March 31, 2018 surged 5 percent to $21,4 million despite the group being afflicted by a number of adverse factors, which weighed down on revenue. Seed Co group finance director John Matorongofa, …

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Govt shelves mining fees for small scale miners

Livingstone Marufu Business Reporter Small scale miners got a reprieve after Government temporarily shelved mining fees levied on them as part of efforts to formalise the sector and increase production. President Mnangagwa announced this development during the Zanu PF Youth League Convention in Gweru recently. This comes after an outcry …

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Cotton farmers warned over side marketing

Business Reporter Cotton farmers should desist from side marketing and deliver all contract-funded produce to appropriate merchants for a sustainable recovery of the sector, Lands, Agriculture and Rural Resettlement Minister Perence Shiri has said. Government has been financing cotton production in the past three years, but lost significant amounts of …

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We need to prioritise value addition: ZimTrade

Taurai Mangudhla ZIMBABWE needs to prioritise value addition and grow non-traditional exports in order to deal with its huge trade deficit that is an albatross on the economy, ZimTrade acting CEO Allan Majuru has said. This comes after latest information from Zimstat showed Zimbabwe’s trade deficit between February and April …

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