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Zim seeks to improve wheat yield

ZIMBABWE is undertaking research to improve its wheat yields in order to reduce reliance on imports, a Cabinet minister has said. BY FIDELITY MHLANGA The southern African nation produces 158 100 metric tonnes of wheat per annum, which is just 40% of its 450 000 metric tonne requirement. The balance …

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Batoka: Chinese firm to meet ED

Golden Sibanda Senior Business Reporter A SEVEN-member delegation from China Gezhouba Group Company (CGGC), the main subsidiary of State-owned Energy China, will visit Harare to meet President Mnangagwa and Government officials, over the firm’s interest to be awarded the contract to build the 2 200 megawatts Batoka hydro-power project. The …

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Gold deliveries slump 44pc

Ishemunyoro Chingwere Business Reporter SMALL-scale miners have called on Government to consider paying 100 percent of gold deliveries in hard currency after deliveries to Fidelity Printers and Refineries (FPR) for November plummeted by 44 percent compared to the previous month. Small-scale miners are the country’s major gold producers after overtaking …

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Econet unit launches instant loan platform

Michael Tome Business Reporter CASSAVA Smartech banking unit, Steward Bank and Ecocash yesterday launched a platform where Econet mobile network subscribers will be able to open bank accounts through cell phones in a minute. Codenamed *236#Bank the initiative aims to exploit mobile phone penetration which now stands at 11 million …

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Forex shortages, inflation weigh on Innscor

Enacy Mapakame Diversified Industrial group, Innscor Africa Limited says gross profit margins during the first quarter of the 2019 financial year remained under pressure due to foreign currency and inflationary pressures, resulting in cost increases for both local and imported materials. In October, Zimbabwe experienced price increases and shortages of …

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Duly’s ready for agric season

Princess Ncube Motor company Duly Holdings Limited (Duly’s) is ready to supply farmers with equipment for the new agriculture season under their brand, New Holland, general manager Mr Elliot Shoniwa said yesterday. The firm also specialises in the retailing of Ford vehicles, UD trucks and a range of Mazda vehicles …

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Oil easies

LONDON. – Oil recouped some of its early losses yesterday, echoing a modest recovery in global equities, but concern about the outlook for global growth and evidence of yet more crude supply kept gains in  check. The Organisation of the Petroleum Exporting Countries, with partner countries such as Russia, meets today …

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Paladium tops gold

Gold just got left behind by one of its sister metals. After a demand-fuelled rally over the past four months that’s seen prices hit a record, palladium for immediate delivery topped gold following a surge  higher. Palladium, which hasn’t traded at a sustained premium to gold in 16 years, has …

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Reminder on Voluntary Disclosure

The Zimbabwe Revenue Authority (Zimra) would like to advise the public that the Voluntary Disclosure Programme is still going on and will end on December 31, 2018. Any persons that have failed to make voluntary disclosures on omitted income and other tax compliance obligations are encouraged to take advantage of …

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‘Economy should grow by 7% to meet SDGs’

ZIMBABWE’s economy needs to grow by 7% in order to meet the sustainable development goals (SDGs), Ministry of Finance officials told Parliament yesterday. By Veneranda Langa Graciano Nyaguse (director joint ventures unit) and Pfungwa Kunaka (principal director fiscal policy) appeared before the Parliamentary Thematic Committee on SDGs to discuss Zimbabwe’s …

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