RBZ releases $450k daily for tobacco farmers

Livingstone Marufu The Reserve Bank of Zimbabwe (RBZ) says it is disbursing $450 000 daily to banks with branches at tobacco auction floors to ensure farmers access cash. This comes following an outcry from farmers who are reportedly failing to access the prescribed $300 cash daily from banks at the …

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ZSE extends CFI suspension

Business Reporter The Zimbabwe Stock Exchange (ZSE) has further extended CFI Holdings Limited’s suspension from the bourse by another 30 days pending further investigations into irregularities in the agro-industrial group. CFI was initially suspended on January 2, 2018 and was further prolonged to May 2, 2018. This therefore becomes the …

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IDBZ engages experts over accommodation project

Property Reporter THE Infrastructure Development Bank of Zimbabwe (IDBZ) has started the process to engage experts to design buildings for its staff and students accommodation housing project in Zvishavane and Lupane. IDBZ said it had been mandated to mobilise funding for construction of accommodation for tertiary students, academic medical staff …

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Miner builds lithium plant in Kwekwe

Ishemunyoro Chingwere Business Reporter ZIMBABWE has moved a step closer to lithium value addition, as enunciated by President Emmerson Mnangagwa, following installation of a pilot lithium carbonate plant in Kwekwe by Australian-listed mining company, Prospect Resources. According to a notice by Prospect Resources, Mines and Mining Development Minister Winston Chitando, …

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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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