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Econet’s ZSE market value hits $4bn

Enacy MapakameTelecoms giant, Econet is now the largest company again on the Zimbabwe Stock Exchange (ZSE) by market value at $4 billion, replacing Delta Corporation Limited. Econet now accounts for 19 percent of ZSE’s total market capitalisation. The Telcos company, has see-sawed between pole position and fourth position in the …

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Govt shifts focus to renewable energy

Africa Moyo Senior Business ReporterGovernment is set to meet senior officials from ZESA Holdings and independent power producers (IPPs) as it seeks to deepen local electricity generation with new focus on renewable energy, particularly solar and wind. This comes as some giants in renewable energy from the United Arab Emirates, …

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Capacity utilisation seen falling to 30%

CAPACITY utilisation in Zimbabwe’s manufacturing industry rose by 3,1 percentage points to 48,2 % in 2018 but there are fears that the sector could contract to as low as 30% if the country’s foreign currency shortages persist. BY Kuda Chideme A survey by the country’s largest business member organisation, the …

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Zim inflation shoots to 42,09%

ZIMBABWE’S inflation rose to 42,09% year-on-year in December, its highest for a decade, from 31,01% in November driven by increases in the price of basic goods, the Zimbabwe National Statistics Agency (Zimstat) said on Thursday, underlining the challenge faced by President Emmerson Mnangagwa’s administration to revive the economy. BY ALFONCE …

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Temporary forex relief for companies

COMPANIES facing imminent closure due to lack of foreign currency got temporary respite after government issued letters of credit allowing large corporates to procure raw materials, Confederation of Zimbabwe Industries (CZI) has said. BY FIDELITY MHLANGA CZI president Sifelani Jabangwe told NewsDay yesterday that after a meeting with Industry minister …

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Safari sector posts record performance

Martin Kadzere Senior Business ReporterZimbabwe’s lucrative safari industry witnessed its best performance since independence in 1980, buoyed by growing interest from traditional markets responding positively to President Mnangagwa’s Zimbabwe is open for business mantra. Mr Emmanuel Fundira, the president of Safari Operators Association of Zimbabwe,  yesterday said that positive sentiments …

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Safari sector posts record performance

Martin Kadzere Senior Business ReporterZimbabwe’s lucrative safari industry witnessed its best performance since independence in 1980, buoyed by growing interest from traditional markets responding positively to President Mnangagwa’s Zimbabwe is open for business mantra. Mr Emmanuel Fundira, the president of Safari Operators Association of Zimbabwe,  yesterday said that positive sentiments …

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Monthly food inflation falls to 9pc

Enacy Mapakame Business ReporterZimbabwe’s month-on-month food and non-alcoholic beverages inflation rate stood at 9,07 percent in December 2018, shedding 5,46 percentage points on the November 2018 rate of 14,53 percent. Latest figures from the Zimbabwe National Statistics Agency (ZimStats) reveal the month on month non-food inflation rate stood at 9,01 …

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Oil prices fall

Oil prices fell yesterday after US crude production neared an unprecedented 12 million barrels per day and concern grew over weakening demand, particularly in light of the trade dispute between the United States and China. International Brent crude oil futures were down 52 cents, or nearly 1 percent, at $60,80 …

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UK in deadlock over Brexit ‘Plan B’

LONDON. — Britain’s last-minute scramble to shape its exit from the EU, its biggest policy upheaval in half a century, hit the rocks yesterday as Prime Minister Theresa May and opposition Labour leader Jeremy Corbyn dug in their heels for competing visions. After May’s two-year attempt to forge an amicable …

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