Struggling Falgold fails to publish FY results

LISTED miner Falcon Gold Zimbabwe has failed to publish its financial results for the financial year to September 30 this year, citing operational challenges which have been worsened by inadequate foreign currency allocations by the Reserve Bank of Zimbabwe (RBZ). BY FIDELITY MHLANGA The company said the publication of results …

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Simbisa Brands implements two-tier pricing model

ZIMBABWE’s largest fast food chain, Simbisa Brands Limited (SBL), says it will implement a two-tier pricing model, offering discounts for customers paying in United States dollars as it tries to raise foreign currency required to pay royalties for the foreign franchises it operates. BY TATIRA ZWINOIRA The model, which has …

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Seed-Co developing rice varieties

BY Staff Reporter Naturally, the cereal requires more water than any other crop; it grows well in fertile river basins. Zimbabwe, which is striving to become a food self-reliant nation, imports upwards of 90% of its rice requirements, with government estimates putting money spent on rice imports at $80 million …

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MFIs lending skewed towards consumption

MICROFINANCE institutions (MFIs) lent $50,5 million for consumptive purposes in the nine months to September, representing a third of the industry’s loans in issue. BY FIDELITY MHLANGA Zimbabwe has a thriving MFI sector, which comprises of 189 registered firms. As of September this year, MFI’s loan portfolio was $176,5 million, …

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Cassava lists, becomes most valuable counter on ZSE

CASSAVA SmarTech Zimbabwe (CSZL), the fintech-focused spin-off from Econet, made its debut on the Zimbabwe Stock Exchange (ZSE) yesterday, and became the bourse’s largest counter by market capitalisation. BY BUSINESS REPORTER CSZL opened trading at 0,4380 cents, closing at 149,28 cents, a growth of 241% and valuing the company at …

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Human trafficking and the law

Human trafficking in the last three years has become the second most heinous crime after drug trafficking. The alarm that cross-border trafficking has caused in the last two years has seen the investigation, prosecution and conviction of one of the members of the Kuwait Syndicate. Prior to 2014, there was …

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ED declares National Clean-Up Day

“I, Emmerson Dambudzo Mnangagwa, President of the Republic of Zimbabwe recognising the Constitutional Mandate to uphold environmental fundamental rights and freedoms provided for in the section 73 of the constitution of Zimbabwe the “right to an environment that is not harmful to tier health and well-being”, hereby declare that every …

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Gold gains

Gold rose to a one-week high yesterday, helped by a weaker US dollar and a fall in global stock markets, but moves were limited as investors sought clarity on the path of U.S. interest rates as concerns about a slowing global economy deepened. Spot gold was up 0,1 percent at …

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Oil drops

Oil prices fell yesterday after reports of swelling inventories and forecasts of record US and Russian output combined with a sharp sell-off in stock markets as the outlook for global growth deteriorated. US crude oil dropped $2,04, or 4,1 percent, to a low of $47,84, its weakest since September 2017. …

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Merspin secures Swiss partners

Oliver Kazunga Bulawayo Bureau Bulawayo-based textile concern Merspin Limited, has secured technical partners from Switzerland to redesign the local plant and recommend new equipment for the proposed factory upgrade. The company, which closed down in 2010 in Bulawayo recently cleared a legal battle between Merlin Limited’s judicial manager Mr Cecil …

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