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Business

Short-term money crippling industry

Tawanda Musarurwa Senior Business Reporter Critical sectors of the local economy are largely struggling to get access to affordable bank financing as deposits are largely dominated by short-term money. Financial experts say short-term money typically increases demand by allowing capital liquidity to be more available through the lending system, but …

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Zimre’s $13m mall takes shape

Africa Moyo Property Reporter The construction of Zimre Property Investments (ZPI)’s $13 million Sawanga Shopping Mall in Victoria Falls, is taking shape after the constructor, Masimba Construction, went on site and started work in January this year. ZPI considered investing in the mammoth structure to optimise its portfolio mix. The …

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Raw milk production projected to grow by 12% in 2018

ZIMBABWE’S raw milk production is projected to grow by an average of 12% in 2018, buoyed by government’s dairy revitalisation programme which aims at increasing the national herd, an official has said. BY MTHANDAZO NYONI Zimbabwe Association of Dairy Farmers (ZADF) chairperson, Kudzai Chirima, told NewsDay in an interview that …

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Explore foreign markets: Delta told

PRESIDENT Emmerson Mnangagwa has encouraged Delta Corporation Limited to explore the export market and also consider investing into the regional market to help secure foreign currency for the country. BY TATIRA ZWINOIRA Speaking during a tour of one of the company’s plants in Harare yesterday, Mnangagwa urged the blue chip …

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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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