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Zim’s ease of doing business ranking improves

Zimbabwe has improved its global ease of doing business ranking to 155 up from a ranking of 159 for the comparative prior year, the latest World Bank Doing Business 2019 Report has revealed. The country’s score also improved by 1,92 percent to 50.44, according to World Bank Group Flagship Report, …

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Business urges caution

Africa Moyo Senior Business Reporter BUSINESSPEOPLE who met Government on Monday to thrash a sustainable way forward to grow the economy, reportedly called for restraint in the much-touted privatisation of underperforming parastatals. A reliable source that attended the crucial meeting held at State House told The Herald Business that parastatals …

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ED commissions dairy plant

Tawanda Musarurwa Senior Reporter President Mnangagwa yesterday commissioned Innscor Africa Holdings’ Prodairy Milk Processing Plant in Ruwa. The Prodairy factory becomes Zimbabwe’s third UHT Processing Plant after Dairibord and Dendairy. President Mnangagwa said investment into the new plant was critical in helping the country cover its milk consumption gap. “We …

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Forex shortage hits 3 RioZim mines

Golden Sibanda Senior Business Reporter DIVERSIFIED Zimbabwe Stock Exchange (ZSE) listed miner, RioZim Limited, has suspended production at three of its gold mines citing shortage of foreign currency needed to import critical consumables and spare parts. RioZim said in a letter to Reserve Bank of Zimbabwe Governor Dr John Mangudya, …

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Farmers demand payment in forex

TOBACCO farmers, who are battling to access exorbitant inputs, are demanding that the government pays them in foreign currency before the next selling season starts so as to cushion them from currency volatility ravaging the economy. BY FIDELITY MHLANGA This came at a time non-contracted farmers are battling to procure …

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RioZim closes 3 mines over forex crisis

RIOZIM has pleaded for government intervention after it suspended operations of its major mines due to foreign currency shortages. BY FIDELITY MHLANGA In a communique gleaned by NewsDay addressed to the Reserve Bank of Zimbabwe (RBZ) governor John Mangudya, copied to Finance minister Mthuli Ncube and his Mines counterpart, Winston …

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SA rand firms

South Africa’s rand firmed against the dollar in early trade yesterday, as investors awaited third quarter unemployment data. At 0705 GMT, the rand traded 0,54 percent stronger at 14,6400 per dollar, having closed in New York at 14,7200. The currency is expected to trade in a range of 14,5000 to …

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Oil dips

Brent oil prices dipped yesterday, weighed down by ongoing weakness in global stock markets and by signs of rising global supply despite looming sanctions on Iran’s crude exports. Front-month Brent crude oil futures were at $77,18 a barrel at 0518 GMT, down 16 cents, or 0,2 percent, from their last …

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Explore alternative investment options that retain value

Zimbabwe, a nation on the brink of a possible economic turnaround, had its progress almost halted last month by the “invisible hands” of the market, with pressures coming in many different forms. Citizens were thrown into a flurry of panic, succumbing to market pressures and irrational market behaviour. The multiple …

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Explore alternative investment options that retain value

Zimbabwe, a nation on the brink of a possible economic turnaround, had its progress almost halted last month by the “invisible hands” of the market, with pressures coming in many different forms. Citizens were thrown into a flurry of panic, succumbing to market pressures and irrational market behaviour. The multiple …

Read More »