Corteva Agriscience enters Zim

Seed producer DowDupont has introduced a standalone Corteva Agriscience Company in Zimbabwe that will specialise in production of high quality seeds and crop protection products. By Freeman Makopa DowDuPont commercial unit director, Prabdeep Bajwa told journalists in Harare on Friday that the company will help farmers increase their productivity and …

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RBZ turns screws on banks

THE Reserve Bank of Zimbabwe (RBZ) has castigated banks for keeping huge sums of money with the central bank instead of lending it to the productive sector. BY MTHANDAZO NYONI Responding to questions from delegates attending the ZimTrade-Banks breakfast seminar held in Bulawayo last week, the central bank’s principal analyst …

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Zim should step up IFFs fight

GOVERNMENT has been urged to step up efforts to curtail illicit financial flows (IFFs) by enforcing anti-avoidance provisions amid revelations that the country could have lost close to $2,8 billion through leakages over the past nine years. BY MTHANDAZO NYONI In its first quarter of the year fact sheet on …

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Cash crisis, blackmarket rates cripple economy

FEWSNET says the macroeconomic environment remains stressed due to cash shortages and high parallel market rates. BY TATIRA ZWINOIRA Uncertainty around the upcoming elections has caused the parallel market rates to range between 60% and 65% for mobile money platforms like EcoCash and 75% for bank transfers on the parallel …

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Proflight in maiden flight to Harare

PROFLIGHT Zambia is to land at Robert Gabriel Mugabe International Airport this morning, as the airline launches its Harare-Lusaka route. The airline had been selling tickets all along waiting for the historic flight into Harare. It could not be established by the time of going to print how many tickets …

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Fed needs to wake up, admit economy is overheating

In Newton’s First Law, an object in motion stays in motion until a force acts upon it. Under new leadership, the Federal Reserve’s monetary policy strategy appears to be following the same logic. In his June press conference, chairman Jay Powell said the Fed would raise interest rates until “we …

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Smuggled blankets suffocate Waverly

ZIMBABWE’s remaining blanket manufacturer, Waverly Blankets, faces collapse as its operations are being suffocated by an influx of smuggled blankets allegedly from China. It is understood that once the blankets leave China, they are taken to South Africa before being smuggled into Zimbabwe where they are sold at a massive …

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ZimTrade’s push pays dividends

ZIMTRADE, the country’s export promotion body, has been conducting market surveys in countries around Africa to identify trade and investment opportunities for Zimbabwean products and services. NewsDay (ND) business reporter, Mthandazo Nyoni caught up with the body’s acting chief executive officer, Allan Majuru (AM) to give an assessment on the organisation’s efforts to promote …

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ZB taps into diaspora

ZB Bank in collaboration with ZymPay yesterday launched a product which will enable people in the Diaspora to pay fees to schools in Zimbabwe. BY KUDZAI MUCHENJEKWA Speaking at the launch of the Diaspora school fees services, ZB Financial Holdings chief executive officer Ronald Mutandagayi said that the service will …

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Red tape closing Zim for business: Chinamasa

Finance and Economic Development minister Patrick Chinamasa says bureaucracy in local authorities and State agencies was frustrating President Emmerson Mnangagwa’s efforts to attract foreign direct investment. BY TATIRA ZWINOIRA In a speech read on his behalf by Finance permanent secretary Willard Manungo at the Zimbabwe Revenue Authority’s (Zimra) annual general …

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