95% of mining land in Mat’land under EPOs

ABOUT 95% of mining land in Matabeleland is now under exclusive prospective orders (EPOs), making it hard for new players to enter the mining sector, a youth advocacy group has said. BY MTHANDAZO NYONI Community Youth Development Trust (CYDT) convened an all-stakeholders meeting in Gwanda last week to deliberate on …

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Treasury to pay $4m monthly to settle airlines debt

The Ministry of Finance and Economic Development has made an undertaking to pay $4 million monthly to foreign airlines who were currently owed $150 million, NewsDay has established. By Staff Reporter Foreign airlines flying into the country have not been able to repatriate ticket sales due to the acute shortage …

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Chloride Zim increases market share

BATTERY manufacturer Chloride Zimbabwe says its market share has risen to 69% after the government banned the importation of batteries as part of measures to protect the local industry. BY MTHANDAZO NYONI Chloride Zimbabwe is a wholly-owned subsidiary of ART Corporation. The company’s head of marketing, Panganai Kufakunesu, told NewsDay …

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We’ve a good plan, trust us: Ncube

Political legitimacy, economic bailout and the draconian Public Order and Security Act (Posa) and Access to Information and Protection of Privacy Act (Aippa) laws are some of the topics Zimbabwe’s new Finance and Economic Development minister Mthuli Ncube addresses in this interview with NewsDay assistant editor, Alfonce Mbizwo. ND: How …

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Zisco $1bn deal back on track

Martin Kadzere The Government said yesterday it has decided to put back on track the proposed $1 billion investment in the Zimbabwe Iron and Steel Company by a Chinese investor. Industry and Commerce Minister Nqobizita Mangaliso Ndlovu said he was hoping his visit to China next week would help tie …

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CFA president heads to Zimbabwe

Kudakwashe Mhundwa The Investments Professionals Association of Zimbabwe (IPAZ) and The Securities and Exchange Commission, will this week host Chartered Financial Analysts president and chief executive officer Paul Smith who will be in the country for the first time. Mr Smith is in charge of an institution representing 150 000 …

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Procurement body standardises bidding

Africa Moyo Senior Business Reporter The Procurement Regulatory Authority of Zimbabwe (PRAZ) has introduced standard bidding documents for use by all procuring entities as part of efforts to ensure transparency, uniformity and containing costs. PRAZ chief executive officer Mr Nyasha Chizu, told The Herald Business yesterday that the standard bidding …

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Fidelity partners School of Mines

Fidelity Printers Business Reporter SOLE gold buyer Fidelity Printers and Refineries Private Limited has partnered with the Zimbabwe School of Mines (ZSM) in Bulawayo to embark on a training programme to capacitate gold producers with skills and fundamentals of safe mining. Fidelity Printers public relations officer, Ms Chelesani Moyo, said …

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Zim draws down $200m for Hwange project

Africa Moyo Senior Business Reporter Zimbabwe has drawn down $199 million for the expansion of the Hwange Thermal Power Station (HPS), as the country presses ahead with efforts to ramp up local electricity generation. The expansion of HPS, which is expected to cost $1,5 billion, will see two new units, …

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Global growth outlook dims

BENGALURU. – The outlook for global growth in 2019 has dimmed for the first time, according to Reuters polls of economists who said the US-China trade war and tightening financial conditions would trigger the next downturn. At the start of 2018, optimism about a robust global economic outlook was almost …

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