Forex inflows hit US$6bn

Ishemunyoro Chingwere Business Writer Zimbabwe’s foreign currency earnings for the year to date have hit the US$6 billion mark, from US$4,6 billion realised in the whole of last year as the country’s exports and Diaspora remittances continue to grow buoyed by interventions by the new dispensation. The statistics were revealed …

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Revenue collections to reach $5bn by year end — Zimra

ZIMBABWE’S tax agency says it has met this year’s revenue target of $4,7 billion and it sees collections reaching $5 billion by year end. BY FIDELITY MHLANGA Last year, the actual gross revenue collections totalled $3,978 billion, ahead of the target of $3,4 billion by $350 million. Zimbabwe Revenue Authority …

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Fuel rationing on the cards

GOVERNMENT is considering rationing fuel as a measure to curb fuel shortages following a 60% increase in demand for the liquid at a time the country is hard pressed for foreign currency to pay for fuel imports. BY TATIRA ZWINOIRA Zimbabwe Energy Regulatory Authority (Zera) acting chief executive Eddington Mazambani …

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Internet blackout looms, warns TelOne

Africa Moyo Senior Business ReporterZimbabwe is staring at the prospect of an internet blackout in the near future as foreign service providers are increasingly getting disillusioned by TelOne’s continued failure to pay $22 million owed for services offered. So dire is the situation that a Mauritius-based financier, Telecom Capital Finance, …

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Fidelity cuts out the middleman

Africa Moyo Senior Business ReporterFIDELITY Printers and Refiners (FPR) has upped the ante in gold mobilisation, amid indications that it will soon be buying gold directly from miners as it desperately seeks to arrest leaks and boost deliveries. Fidelity is the country’s sole gold buying unit and is superintended by …

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Seed Co mulls rice, potato seed production

Michael Tome Business ReporterZimbabwe Stock Exchange (ZSE) listed seed producer, Seed Co Limited, says it is considering venturing into rice and potato seed production in a move that will help the country cut on a huge import bill for the crops that is gobbling significant amounts of foreign currency. The …

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Measures to contain foot and mouth underway

Kudakwashe Mhundwa Business ReporterGovernment is working on strategies to reduce trans-boundary diseases with the aim of improving the national herd and to unlock value in the beef and leather value chains. Zimbabwe was once one of the biggest beef exporters to the European Union and used to have an annual …

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Weeds affect farm productivity

Golden Sibanda Senior Business ReporterZimbabwean farmers risk losing between 50 and 80 percent of potential maize yield if they fail to effectively control weeds among their crop in the first 10-12 weeks from germination, experts have warned. According to Food and Agriculture Organisation, maize is the main staple food in …

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‘Zimbabwe faces prospect of a drought’

ZIMBABWE’S crop and livestock production will be negatively affected by delays in rainfall being experienced in the 2018/19 season, a food security report by the United States Agency for International Development has warned. BY TATIRA ZWINOIRA The report, titled Zimbabwe Food Security Outlook (December 2018 to May 2019), notes that …

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Chinese exit Bindura

By Kuda Chideme ASA operates Freda Rebecca, the largest single gold mine in Zimbabwe and Trojan Nickel Mine through BNC, which is listed on the Zimbabwe Stock Exchange (ZSE), ASA gained control of BNC and its assets in 2015 after taking over the miner’s holding company Mwana Africa and booting …

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