Turnall Holdings to upgrade plants

Bulawayo Bureau LISTED roofing and building products manufacturer, Turnall Holdings Limited plans to embark on plant upgrade at its factories in Bulawayo and Harare to boost capacity utilisation and create more jobs. Turnall managing director Ms Roselline Chisveto said this in an interview at the Bulawayo factory on Monday after …

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Forex shortages choke footwear firm

Africa Moyo Senior Business Reporter TOP exotic leather shoe manufacturer, Millennium Footwear, says foreign currency shortages are throttling its operations and is struggling to meet supplier requirements, while at the same time affecting the firm’s competitiveness. Millennium Footwear’s suppliers such as those that provide leather, require foreign currency for their …

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‘Businesswomen must engage ZimTrade’

Kudakwashe Mhundwa Business Reporter Women in business should engage the country’s trade promotion body, ZimTrade to come up with solutions which will enable them to participate in international markets, the new Industry and Commerce Minister Mangaliso Ndlovu has said. Speaking at a women in enterprise conference last week Minister Ndlovu …

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Funeral assurers breach regulations

Golden Sibanda Senior Business Reporter Most funeral assurance firms are in breach of regulatory requirements on prescribed asset investments as it emerged compliance with provisions of the law stands at a measly 2,12 percent instead of the gazetted threshold of 7,50 percent. The Insurance and Pensions Commission (IPEC) said in …

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Q2 egg production tumbles 12%

ZIMBABWE’S egg production tumbled by 12% to nine million eggs in the second quarter of 2018 as output by large-scale producers fell, according to a second quarter performance report by the Zimbabwe Poultry Association. BY MTHANDAZO NYONI In the report, chairperson Solomon Zawe revealed that the total egg production in …

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Tours planned to revive business relations with US

Local think-tank, CEO Africa Round Table, says it will be touring the United States to revive company-to-company business relations with the world’s largest economy. BY KUDZAI MUCHENJEKWA The US imposed economic sanctions on Zimbabwe in 2002 through the Zimbabwe Democracy and Economic Recovery Act (Zidera), in terms of which US …

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ZB in talks for $30m line of credit

ZB Financial Holdings (ZBFH) is in talks with a regional bank for a $30 million line of credit, which will enable ZB Bank, its commercial banking subsidiary, to support international transactions. BY MTHANDAZO NYONI The bank has also raised more than $80 million towards the second phase of a $1 …

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Zim courts US investors

Golden Sibanda and Michael Tome President Mnangagwa says foreign direct investment will play a key role in Zimbabwe’s quest for middle income status by 2030 and Harare will accelerate the pace of its robust global re-engagement to attract FDI, including resolving a decades old diplomatic standoff with the United States. …

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Oil hit 4-year high

LONDON. – Oil prices jumped more than 2 percent to a four-year high yesterday after Opec declined to announce an immediate increase in production despite calls by US President Donald Trump for action to raise global supply. Benchmark Brent crude LCOc1 hit its highest since November 2014 at $80,94 per …

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