Lithium project to earn Zim $3bn

Golden Sibanda and Tawanda Musarurwa Australia Stock Exchange (ASX) listed Prospect Resources Plc says its Arcadia Lithium project, located 38 kilometres east of Harare, has proven capacity to generate nearly $3 billion in export revenue, according to the definitive feasibility study (DFS). Prospect’s Arcadia electric vehicles batteries lithium has multipurpose …

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Govt moves to curb inputs abuse

Martin Kadzere and Kuda Mhundwa Government has come up with regulations to curb side marketing of agricultural commodities produced under its various contract farming programmes. The Agriculture Marketing Authority (Command Agriculture Scheme for Domestic Crop, Livestock and Fisheries Production) Regulations of 2018, gazetted last Friday also seek to deal with …

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‘Zim Airways not part of AirZim’

Tawanda Musarurwa Senior Reporter Zimbabwe Airways is a completely different and  autonomous entity from Air Zimbabwe and is therefore not part of the reconstruction process, Ministry of Transport of Infrastructure Development Acting Permanent Secretary Kudzanai Chinyanga has said. “Currently there is no relationship between Air Zimbabwe and Zimbabwe Airways. These …

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Kwesé iflix hits 5 million users in Zim

Business Reporter Media streaming service, Kwesé iflix, now has more than 5 million users in Zimbabwe and continues to grow rapidly, according to Econet Wireless Zimbabwe CEO Mr Douglas Mboweni. He said the platform had been a “runaway success” and was “the future” of the business. Mr Mboweni said the …

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Rand rises

JOHANNESBURG. – South Africa’s rand rose in early trade against a softer dollar yesterday, in line with a rise in local bonds and stocks as investor appetite for riskier assets was boosted. At 0650 GMT, the rand traded 0,25 percent firmer at 14.0600 per dollar, after closing at 14.0950 in New …

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Budget should be couched around TSP

Percy Gwanyanya Professor Mthuli Ncube’s first National Budget presentation, which is expected today, should be couched around the Transitional Stabilisation Programme (TSP), which is itself the first phase of the Vision 2030, designed to guide not only the fiscal but also the monetary and other economic policies during the period …

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Agro sector gets 15pc salary raise

Workers in the agro sector – those who process agricultural produce – have been awarded a 15 percent wage increase. The National Employment Council for agricultural industry of Zimbabwe chief executive officer Mr David Madyausiku, said the wage review would see the least paid farm worker in Grade A1 earning …

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Oil bounces

LONDON. – Oil bounced above $63 a barrel yesterday to claw back some of the previous day’s 6 percent plunge, lifted by a report of an unexpected decline in US crude inventories. The American Petroleum Institute (API) said on Tuesday that US crude stocks last week fell by 1,5 million barrels, …

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Funeral assurance sector posts 6,5pc growth

Ishemunyoro Chingwere Business Reporter The funeral assurance sector witnessed 6,5 percent growth in Gross Written Premium for the period ended June 30, 2018 compared to the same period last year and could witness further “exponential” growth as more consumers opt out of cash plan products. The growth statistics are contained …

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