Zim, Chinese firm sign $1bn deal

Zimbabwe has signed a memorandum of agreement with a Chinese firm for the construction of a $1 billion stainless steel plant in Midlands as government moves to beneficiate its minerals. BY FREEMAN MAKOPA Mines and Mining Development minister Winston Chitando said yesterday the signing of the agreement between government and …

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Corporate reputation: The gateway to success

“It is the role of public relations to make sure that the organisation is getting credit for the good it does. Great reputations are built on doing this consistently over a period of time in which a track record delivering on promises and engendering trust is evident to everyone. All …

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Political access as a business asset (Part 2)

Last week we discussed Part 1 of political access and how, if managed skillfully, it could be an enormous intangible business asset. We highlighted two African billionaires Aliko Dangote and Patrice Motsepe and how, besides their hard work and shrewdness in business, political access was an enabler to them building …

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MDC Alliance vows to revive economy

The MDC Alliance promised on Thursday to revive the economy if it wins an election in July by cutting taxes, abolishing a quasi-currency “bond note”, joining a regional monetary union and seeking debt relief. Reuters The country holds its first vote since Robert Mugabe’s downfall in November after nearly 40 …

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Barclays Zimbabwe gives $70k to young farmers

BARCLAYS Bank Zimbabwe has given the Zimbabwe Farmers’ Union (ZFU) $70 000 for the “Fit for Life” programme, which aims to contribute to financial inclusion and food security, up-skill, educate and impact young farmers from across the country. BY OUR CORRESPONDENT Barclays managing director Sam Matsekete handed over the money …

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RBZ digs in on cryptocurrency ban

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has defended the central bank’s decision to ban cryptocurrency transactions and accused a local dealer of exposing the country, money-laundering, evasion of foreign currency exchange controls and violation terrorism financing.BY WONGAI ZHANGAZHA Bitfinance (Pvt) Ltd, trading as Golix, is challenging the recent …

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Day-old chicks shortage hits industry

THE production of hatching eggs in Zimbabwe is projected to remain depressed until the last quarter of this year, necessitating the continued high dependence on imports to satisfy demand for day-old chicks from poultry farmers, an official has said.BY MTHANDAZO NYONIIn an industry update for the first quarter of 2018, …

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Women share business ideas

Women from various church denominations gathered in Harare yesterday for the Christian Women of Faith in Action Economic Empowerment Meeting where they shared ideas on ways of boosting their businesses. The women said they are committed to contributing to the economic revival of Zimbabwe by sharing business ideas of how …

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China touts its economic reforms amid US tariff threats

On Shanghai’s famous waterfront, the Bund, some 300 officials, foreign business leaders and journalists gathered last week to celebrate the 40th anniversary of what China calls its “Reform and Opening” — an economic liberalisation plan that opened the state-run economy to the outside world. The reforms benefited companies like American-Italian …

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Edgars turnover up 37 percent

Business Reporter Listed clothing retailer Edgars Stores Limited’s turnover for the first quarter to April 2018 grew 37 percent from the comparable prior year and was 10 percent above budget. After-tax profit was however 2,5 percent lower at $1,3 million, but management said the profit was “well above budget”. For …

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