DIDG to raise $100m

Africa Moyo Business Reporter THE Diaspora Infrastructure Development Group (DIDG), which recently won the $400 million tender to recapitalise and operate the National Railways of Zimbabwe (NRZ) together with Transnet of South Africa, plans to issue a prescribed asset note to raise funds which would be channelled towards revitalising the …

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Govt keen to support aviation sector

Africa Moyo Business Reporter Government says it is committed to supporting the aviation industry given its critical role in national development. This was said yesterday by the director of aviation and rail, Mr Allowance Sango during the launch of Proflight Zambia’s Harare-Lusaka route. Proflight Zambia landed at the Robert Gabriel …

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Quick wins for Zimbabwe to attract FDI inflows

The Zimbabwe Investment Authority (ZIA) has approved investment projects worth over $1 billion in the first quarter of 2018, with most interest being directed to the mining, manufacturing and energy sectors. By Victor Bhoroma This figure is significantly higher than the $150 million recorded in April 2017. Over 62 investment …

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Hotel occupancy up 47% Q1

ZIMBABWE’s hotel occupancy rate increased to 47% in the first quarter of the year, with industry officials attributing the trend to government’s stance on the ease of doing business across all sectors. BY MTHANDAZO NYONI In separate interviews with NewsDay, industry officials said government’s engagement with foreign investors had resulted …

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‘RBZ has failed in forex allocation’

ZIMBABWE Textile Manufacturers’ Association (Zitma) says local banks should handle the foreign currency allocation system as the central bank has failed to allocate forex to the industry and was now facing collapse. BY MTHANDAZO NYONI Zitma vice president Freedom Dube told NewsDay recently that the Reserve Bank of Zimbabwe’s failure …

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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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