OK Zim revenue up 20pc

Enacy Mapakame The country’s biggest retail group, OK Zimbabwe’s revenue for the first quarter of the financial year 2019 rose 20 percent above same period last year as the group maintains the growth trajectory reported at its year end. Briefing shareholders at the group’s annual general meeting in the capital …

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Forests suffer amid tobacco record-breaking euphoria

Climate Story Jeffrey Gogo “We aren’t really concerned about planting trees,” says one smallholder tobacco farmer — whom we shall call Jessica — from the Headlands. Jessica lives in Sherenje village along the highway to Chiendambuya in the Headlands, an old farming town sandwiched between Harare and Rusape, about 140km east …

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Consumers, soybeans fuel US second-quarter growth

WASHINGTON. — The US economy grew at its fastest pace in nearly four years in the second quarter as consumers boosted spending and farmers rushed shipments of soybeans to China to beat retaliatory trade tariffs before they took effect in early July. Gross domestic product increased at a 4,1 percent …

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University students in financial research competition

Business Reporter The Investments Professionals Association of Zimbabwe (IPAZ), will host the Chartered Financial Analyst (CFA) Institute Research Challenge in Zimbabwe. IPAZ, a representative of Chartered Financial Analyst (CFA) Institute — the global association of investment professionals made up of portfolio managers, investment advisors, educators and other financial professionals — …

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Unki Mine smelter nears completion

Enacy Mapakame Business Reporter Anglo American Platinum’s local unit, Unki Mine, anticipates completion of its smelter project in the third quarter of 2018 and is expected to create employment and contribute towards economic growth. The smelter has a total cost of R650 million. On completion, Unki’s smelter should enhance value …

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Millions lost through scrap metal exports

Ishemunyoro Chingwere  Business Reporter Zimbabwe could save at least $11 million per month and hundreds of jobs if it stops exporting scrap metal and beneficiate it locally, the Zimbabwe Institute of Foundrymen (ZIF) has said. The foundry industry entails the conversion of scrap metal into viable engineering products, but the …

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Chivayo donates to charity, environmental sustainability

Business Reporter INTRATREK Zimbabwe this week donated $100 000 to a charity organisation headed by First Lady Amai Auxilia Mnangagwa and environmental sustainability initiatives being spearheaded by Government through the Ministry of Environment, Water and Climate. City businessman Wicknell Chivayo, owns Intratrek Zimbabwe. First Lady Amai Mnangagwa was the guest …

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Water agreement: All you need to know

What is a water abstraction agreement? A water abstraction agreement is a contract that any person, entity or organisation who needs a reservation for their use of   raw water from Zinwa managed or State dams enters into with Zinwa for the provision of his or her water requirements. Why is …

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USAID avails $32,4m for water projects

Thupeyo Muleya  Business Reporter The United States Agency for International Development (USAID) has availed $32,4 million for a five year Resilient Waters project to address severe water challenges facing communities living around the Limpopo River Basin and Okavango River basins. The programme is set to increase access to safe drinking …

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Businesses to benefit from bilateral agreements

Shamiso Dzingire Bulawayo Bureau BUSINESSES venturing into export markets could take advantage of trade benefits offered by Zimbabwe’s bilateral and regional agreements to grow their businesses. Zimbabwe is signatory to trade agreements with the Sadc and the Common Market for Eastern and Southern Africa (Comesa). Recently the Government signed the …

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