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Inconsistent policies draining Zim business confidence: Hanke

Renowned American economist, Steve Hanke says Zimbabwe’s new fiscal and monetary measures have left the market in a state of confusion, and opined that the country’s annual inflation rate had topped 200%. BY TATIRA ZWINOIRA Finance minister Mthuli Ncube on October 1 raised tax on electronic transactions to 2% from …

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First Capital Bank to focus on growing lending book

First Capital Bank Limited Zimbabwe will focus on aggressive lending going forward to grow its net interest income, its managing director Samuel Matsekete has said. BY TATIRA ZWINOIRA On Tuesday, the bank started operating under its dual brand name, First Capital Bank Limited in association with Barclays, to reflect the …

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Good times beckon for Zim mining sector

Golden Sibanda  Senior Business Reporter Zimbabwe’s mining sector is headed for exciting times with foreign investors reportedly reaching lofty heights since the new dispensation rose to power, subsequently staging peaceful and successful harmonised polls, according to Mines and Mining Development Minister Winston Chitando. Minister Chitando told delegates at Mine Entra 2018, …

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US tightens controls on China imports of nuclear components

The United States is tightening controls on China’s imports of civil nuclear technology to prevent use for military or other unauthorised purposes, the US Department of Energy said on Thursday amid increased trade tensions. Last month, US President Donald Trump imposed tariffs on nearly $200 billion of Chinese imports and …

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Vast Resources to develop SPV for Marange diamond fields

Tawanda Musarurwa Senior Business Reporter Diversified mining group, Vast Resources, has said Botswana Diamonds has signed on to develop the Heritage concession in the Marange diamond fields, which will see the development of a special purpose vehicle (SPV). Earlier in May the two parties signed a Memorandum of Understanding (MoU) on …

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Firm implements food safety management system

Business Reporter FOOD manufacturing company, Associated Foods of Zimbabwe (AFZ), which is targeting the export market, has implemented ISO 22 000 food safety management system to ensure conformity of its products to international standards. This is expected to build consumer confidence, increase brand equity and ensure reduced or no foodborne …

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Mining sector records strong performance

Golden Sibanda in Bulawayo ZIMBABWE’s mining sector has recorded exceptionally strong performance in the first eight months of this year, but prospects for further stellar performance over the remainder of the year are being threatened by a few challenges. Chamber of Mines of Zimbabwe (CoMZ) chief executive Isaac Kwesu told …

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Govt deepens corruption fight

Africa Moyo Senior Business Reporter Government is deepening its battle against all forms of corruption as it seeks to remove gridlocks to the attainment of an upper middle income economy status by 2030. Secretary responsible for State Enterprises Reform, Corporate Governance and Procurement in the Office of the President and …

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Adopt ‘Vision Zero Strategy’: Nzenza urges firms

Africa Moyo Senior Business Reporter GOVERNMENT is encouraging all companies operating in the country to adopt the “Vision Zero Strategy”, to significantly reduce occupational accidents. Public Service, Labour and Social Welfare Minister Dr Sekai Nzenza, said this recently in a speech read on her behalf by Permanent Secretary Dr Judith Kateera …

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