Debt-ridden CSC downscales

COLD Storage Company (Ltd), a beef producer with refrigerated warehousing, has downscaled its operations and put its employees on a “short time” work schedule under which they will now be paid based on the actual number of “man-hours” worked. BY TATIRA ZWINOIRA The State-owned company, which requires between $60 million …

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Zim gets new IMF rep

The International Monetary Fund (IMF) has appointed Patrick Amir Imam as Zimbabwe’s resident representative, replacing Christian Beddies, who has been in the country since 2014. BY FIDELITY MHLANGA Imam, a national of Belgium, Egypt and Germany, has served the IMF since 2005 working on monetary, exchange rate and financial stability …

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Govt pledges support for gold miner

Golden Sibanda Senior Business Reporter GOVERNMENT has made a commitment to provide the necessary facilitation to Zimbabwe’s largest gold producer, Metallon Corporation, whose operations are being hampered by foreign currency shortages. The London head-quartered gold mining group has since given assurances that it was in the country for the long …

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RBZ creating artificial money to fund gold exports

THE Reserve Bank of Zimbabwe (RBZ) plans to flood the banking system with more transferable balances created through real time gross settlement (RTGS) intended to support gold exporters in a desperate effort to ramp up foreign currency earnings. BY MTHANDAZO NYONI Gold, whose production is projected to hit 30 tonnes …

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Zim power imports down 50 percent

Martin Kadzere Senior Business Reporter Zimbabwe’s power imports declined by almost 50 percent during the second quarter of the year after the country’s power utility increased generation at Kariba plant. Zesa Holdings increased output at Kariba Power Station after switching on the second unit following the completion of expansion of …

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Zimra intensifies graft fight

Ishemunyoro Chingwere Business Reporter Whistleblowers who blew the cover on Zimra commissioner for revenue assurance and special projects — Charles Jaure — resulting in his suspension on Monday, have called for the suspension of senior management in the same department to allow for smooth investigation into corruption allegations levelled against …

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SAZ conference kicks off

Leonard Ncube in Victoria Falls THE 5th Standard Association of Zimbabwe (SAZ) Business Leaders Conference kicked off here yesterday amid calls for local business to adhere to standards so as to attract international markets and lure Foreign Direct Investment (FDI). President Mnangagwa is one of the high profile speakers expected …

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Potraz awareness campaigns bears fruit

Business Reporter The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says it has made strides in driving consumer rights awareness among users of telecoms services through countrywide campaigns. The telecoms industry regulator last held its consumer rights awareness campaign at Hama Business Centre in Chirumanzu where an estimated 3 …

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Planning for continuity of your business

Succession planning is a critical but often overlooked human resources strategic objective that many organisations do not address in a systematic way. Forecasting on the organisation’s future human resources requirements and having a clear succession plan in place will see the organisation live beyond employees who then resign, retire, are …

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SA rand weak

JOHANNESBURG. — South Africa’s rand weakened on Tuesday as emerging market currencies lost ground with further deterioration in United States and China trade relations subduing demand for risk assets. At 0650 GMT the rand was 0,32 percent softer at 15,1050 per dollar compared to a close of 15, 0575 in …

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