Money changers face prosecution

Livingstone Marufu Business Reporter GOVERNMENT, through the Judicial Services Commission, is finalising administrative mechanisms for establishment of the Commercial Court, which will prosecute offenders for commercial crimes, among them externalisation and illegal trade in cash, a senior official said. The Commercial Court, expected to be operational before the end of …

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Hwange requires $500m capital injection

Africa Moyo Business Reporter Hwange Colliery Company Limited’s (HCCL) management is set to meet Mr Nicholas van Hoogstraten, one of its major shareholders today to discuss possibilities of him injecting fresh working capital into the business. The firm requires over $500 million working capital. This comes as the company remains …

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Iron and steel makers seek $20 million

BY FIDELITY MHLANGA This comes as the sector is undercapitalised and also weighed down by obsolete equipment and foreign currency allocation nightmares. Engineering, Iron and Steel Association of Zimbabwe president Austin Tigere told Standardbusiness on the sidelines of the launch of a Bystronic fibre laser cutting machine last week that …

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Foreign investors prey on ZSE

BY NDAMU SANDUStatistics from the bourse show that foreign investors have been buying more than selling since December last year, boosting the confidence on the ZSE. In December, net foreign inflows were $5 012 455. The previous month had seen foreign investors being net sellers resulting in negative net foreign …

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Industry challenges ED

BY MTHANDAZO NYONI The call was in response to President Emmerson Mnangagwa, who recently exhorted “all players in industry and commerce to produce quality products, increase industrial capacity utilisation, think outside the box, innovate and use technology as well as appropriate solutions to reduce productivity costs and enhance product competitiveness”. …

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JSE to tighten disclosure for debt issuers

JOHANNESBURG — Africa’s biggest securities exchange, the JSE Ltd (JSEJ.J) is crafting tighter disclosure rules for companies with listed debt instruments, combined with a greater focus on corporate governance to increase transparency. South African state-owned companies, which are some of the biggest debt issuers, are overhauling their corporate governance after …

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Funding to tackle energy, water inefficiency in industry

Climate Story Jeffrey Gogo International funding of more than $250,000 is to go towards capacitating and training Zimbabwean companies to improve their energy and water use efficiency, Business Council for Sustainable Development Zimbabwe (BCSDZ) executive director, Tawanda Muzamwese has said. The money, which comes in the form of technological support, …

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Firm commissions laser cutting machine

Munashe Matambo Business Reporter BLADES manufacturing firm, Sawpower Blades Limited, has commissioned a state-of-the-art Bystronic CNC Fibre laser machine, the first of its kind in Zimbabwe. According to Sawpower, the Bystronic CNC Fiber Machine was recently imported from Switzerland at a cost of 220 000 Euros. The machine uses two …

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ChiNT heads to Zim for Gwanda solar

A HIGH-powered delegation from Chinese electrical engineering giant, CHiNT Electric, is expected in Harare this week for high level discussions with Government and Zesa aimed at unlocking funding for the 100-megawatt Gwanda solar project. This comes as it emerged that President Mnangagwa’s recent State visit to China, his first outbound …

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