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NRZ equipment lease deal pays off

THE National Railways of Zimbabwe (NRZ) says its decision to hire equipment from Transnet South Africa has started paying dividends, with cargo freight volumes increasing since April this year. BY BUSINESS REPORTER “As part of the NRZ’s $400 million recapitalisation deal with the Diaspora Infrastructure Development Group (DIDG) /Transnet Consortium, …

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‘Govt interference bled Bulawayo council’

Government interferences in the running of local authorities have cost the Bulawayo City Council (BCC) millions in potential investment. NewsDay (ND) business reporter, Mthandazo Nyoni this week met outgoing Bulawayo mayor, Martin Moyo (MM) to speak on these issues. Find below excerpts from the interview. MTHANDAZO NYONI ND: You have …

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NetOne CEO faces fraud charges

Shamiso Dzingire Bulawayo Bureau SUSPENDED NetOne chief executive officer Mr Lazarus Muchenje, is reportedly facing criminal investigations in South Africa and the Democratic Republic of Congo over allegations of defrauding his previous employer Intarget Mobile Advertising of an undisclosed amount. Mr Muchenje was suspended from the State-owned mobile operator early …

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Crazy gold stats as miners haul 21 tonnes

Africa Moyo Business Reporter Gold miners have hauled 21 tonnes in seven months to July 31 this year, shredding all records set since 2009, spurred by the exploits of small-scale miners who have delivered 13,5 tonnes. Large-scale miners, for all their mechanisation, have delivered 7,3 tonnes up to end of …

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Construction sector set for rebirth

Africa Moyo Business Reporter VETERAN construction industry player and Murehwa North Constituency House of Assembly member-elect Daniel Garwe (ZANU-PF), says he will push for the recognition of the construction sector, particularly local players, during the life of the new parliament. Mr Garwe, who owns Planet Building, says the adoption of …

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Transaction volumes boost ZB half year results

Business Reporter ZB Financial Holdings Limited, reported a plausible set of results for the half year ended June 30, 2018, with chief executive officer Ron Mutandagayi, saying performance was spurred by an increase in the number of accounts and transaction volumes. The group’s net profit amounted to $9,4 million for …

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Seed Co’s BSE listing to increase visibility: Nzwere

Enacy Mapakame Business Reporter Regional seed manufacturer, Seed Co Limited says listing of its regional operations on the Botswana Stock Exchange (BSE) will be concluded in a month’s time, after shareholders approved the proposal yesterday. Speaking to The Herald Business on the sidelines of the group’s annual general meeting in …

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Need to conserve water remains

The winter season is now over and the hot season is now upon us with rises in temperatures beginning to show. Consequently, the demand for water is also set to increase as there is a causal relationship between high water use and high temperatures. In the hot season, the demand …

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Rand firmer

South Africa’s rand retreated on Wednesday ahead of a bank holiday yesterday, with investors booking profits from the previous session’s rally and closing positions as the dollar bounced back on the latest US and China trade war twist. On the bourse, MTN Group topped the decliners on the Top-40 index …

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Oil prices up

LONDON. — Oil rose yesterday, recouping some of the previous day’s steep price slide, after the first round of US sanctions against Iran came into effect, although confidence in crude demand has been hit by the escalating China-US trade dispute. Brent crude futures were up 19 cents at $72,47 barrel …

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