Chinese, US firms in joint bid for Batoka

GLOBAL electrical engineering giants, China Power and United States incorporated General Electric (GE), have launched a joint bid for a contract to construct the 2 400-megawatt Batoka Gorge hydropower project being co-developed by Zimbabwe and Zambia. Energy and Power Development Minister Simon Khaya Moyo on Friday, while officiating at a …

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No big shock for Zim in AfCFTA

BY NDAMU SANDU IN ADDIS ABABA, ETHIOPIA Zimbabwe’s trade deficit against South Africa has been widening to $44,4 million during February up from $14,2 million in the same period last year despite the existence of Statutory Instrument 64 of 2017 which restricted the importation of products that had local equivalents. …

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State procurement laws too lenient: Cross

BY TATIRA ZWINOIRA “Nothing will assist if we do not have a commitment by leadership. Penalties inside the Act (Public Procurement and Disposal of Public Assets Act) are nonsensical. We have to give teeth to this thing,” Cross said. Currently, the Public Procurement and Disposal of Public Assets Act only …

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US, Chinese reps fly in for $4,5bn Batoka project

BY FIDELITY MHLANGA Khaya Moyo told delegates attending the Zesa Holdings risk management awards ceremony in Harare on Friday that the two companies had expressed interest in the project. “This morning (last Friday), I received representatives from China Power and General Electric from the United States of America. They have …

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Africa Investment Hub launched in Zim

Zimbabwe is now well positioned to tap into multi-billion dollar investment opportunities through the establishment of the Africa Investment Hub, effectively making the country the third nation on the continent to host an office of such a magnitude after Nigeria and South Africa. A new dawn for the Zimbabwean economy …

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Business endorses Africa Investment Hub

Zimbabwe’s business community has endorsed operations of the Africa Investment Hub in Zimbabwe with focus being on the need to emulate government’s role in restoring the nation’s competitive edge as well as identifying opportunities for new projects. Investment opportunities exist in Zimbabwe but it is the extent to which foreign …

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RBZ warns against cryptocurrencies

The Reserve Bank of Zimbabwe (RBZ) has warned the transacting public as well as financial institutions against trading in cryptocurrencies or virtual currencies as these pose huge risks due to their anonymous nature. Further to the press statement issued by the RBZ in December 2017, governor of the apex bank …

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Exploration for kimberlite in Masvingo looms

Exploration work to establish the presence of kimberlite is set to be carried out in Masvingo’s Mwenezi district. This follows the citing of suspected kimberlite rock in the area. Officials from the Zimbabwe Consolidated Diamond Company, Minerals Promotion Company as well as the Ministry of Mines, paid a courtesy call …

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Govt delays measures to prevent fuel smuggling

Melody Chikono Last year two firms, SICPA SA of Switzerland and Authentix of United States of America submited bids to provide fuel marking services. At the same time, the regulator was carrying out consultation for funding of the programme. The mandatory fuel marking was expected to curb rampant fuel smuggling, …

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It’s good cheer for Delta Corp

Kudzai Kuwaza The strong 27% bottom line jump was achieved thanks to an 18% growth in revenues at US$572,2m for the year ended March 31 2018 aided by strong performance of their products particularly their lager and sparkling beverages. Presenting the results on Wednesday in the capital, Delta CE Pearson …

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