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Zim needs clear value addition strategy

Zimbabwe needs to come up with a clear beneficiation and value addition strategy that will translate to downstream and upstream economic activity. The current structural arrangement of the agriculture and mining industry which remains geared towards export of raw materials is not sustainable and not economically viable in the long …

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Standard Bank to the rescue as Zim exporters struggle

Harare – The Zimbabwean unit of Standard Bank [JSE:SBK] has come to the rescue of the country’s foreign currency-starved export market producers by availing a facility to cover up to 60% of their working capital needs. Zimbabwean manufacturers have been unable to pay for imported raw materials and equipment for …

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Zim SMEs sector promoting self-reliance

Zimbabwe’s informal sector is emerging as a key source of job creation with this year’s Workers Day commemorations bearing testimony of how the nation can reap more economic benefits from emerging entrepreneurs. The small scale entrepreneurs continue to operate and provide relevant skills, products and services that have a potential …

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Zimplats profits up as platinum prices firm

Zimbabwe’s platinum mining sector is benefitting from a rebound in global commodity prices, with the nation’s biggest producer of the metal, Zimplats, registering a 58 percent growth in profits. The international platinum price which reached an all time low of US$900 an ounce last year is now on an upward …

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Gold steadies

LONDON – Gold steadied yesterday near 4-month lows as the dollar’s uptrend paused, but prices of the precious metal are expected to remain under pressure from a significantly stronger U.S. currency and weak investment demand. Spot gold was up 0.4 percent at $1,309.34 an ounce at 1302 GMT. It touched …

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Powertel scoops Best Exhibitor Award @ ZITF 2018

Business Reporter Local Internet Access Provider and telecommunications giant, Powertel Communications, walked away with the coveted Silver Medal Award for setting up the 2nd Best ICT Exhibit during the ZITF 2018 showcase, following hot on the heels of Econet Wireless who scooped the Best ICT & Overall Exhibit Award. Expressing …

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2018 cotton selling season comes to life

Martin Kadzere Senior Business Reporter MOST cotton farmers have started delivering their harvested crop to common buying points ahead of the 2018 selling season expected to start next week. Following the rebound last season, output is expected to be “significantly higher” this year compared to 74 000 tonnes delivered last …

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POS machines reach 70 000

Livingstone Marufu Business Reporter Point of Sale (POS) machines increased 20 percent to 70 000 from 56 000 units by end of last year as the country moves closer to fulfilling targets set under the financial inclusion strategy and resolving the challenge of cash shortages. The Reserve Bank of Zimbabwe …

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Promoting public procurement integrity, good governance

Talent Dube Public procurement is central to government service delivery and it plays a significant role in the economy. Zimbabwe spends about 40 percent of its gross domestic product on government procurement in different sectors and local authorities, which involves huge sums of money. Given this situation, high value transactions …

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