DIDG seeks to raise offshore pooled funds

By Hazel Ndebele This comes as the company expects to conclude legal processes for the multi-million dollar railway deal by June 30 before rolling out the project the following month. DIDG executive director Donovan Chimhandamba told the businessdigest this week that the National Railways of Zimbabwe (NRZ) recapitalisation project should …

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Safari operators record 5% upturn in revenues

By Kudzai Kuwaza This is a turnaround from the 20% loss in revenue during the same period last year owing largely to the ivory ban by the US Fish and Wildlife Service. The US-based organisation announced a suspension on imports of sport-hunted African elephant trophies taken in Tanzania and Zimbabwe …

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CAI pension fund boss quits amid audit storm

By Tinashe Kairiza According to the internal audit report seen by businessdigest, the pension fund could have been prejudiced about US$3,2 million when Mashika unilaterally sanctioned the acquisition of a number of properties against the entity’s investment procedures. Mashika, who in 2015 joined the pension fund which has a property …

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Foreign currency shortage threatens Delta’s maheu product

By Tinashe Kairiza The brewer established the Shumba Maheu business unit in 2015 as part of the beverages manufacturer’s plans to diversify. Before local production of the Shumba Maheu product brands, Delta used to import the starch-based non-carbonated and alcohol-free beverage from an associate company in Zambia The southern African …

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Securico sets sights on African continent

By Nkululeko Sibanda Company founder Divine Ndhlukula told the businessdigest in Bulawayo last week the company was making forays into the regional market. “We want to expand from being solely a Zimbabwean security services company into being an African giant. We’ve been looking at expansion since we started off and …

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Forex shortages causing supply gaps: Delta

BY NKULULEKO SIBANDA The group’s corporate affairs manager Patricia Murambinda said her company was feeling pronounced effects of biting foreign currency shortages in the country has been battling with in recent years. She said foreign currency shortage have seen disruptions in the raw materials supply chain “There were some considerable …

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Vast resources eyes diamond mining in Zim

By Melody Chikono This follows the signing of a memorandum of understanding between the two companies which will see them exchanging information derived from past exploration for diamonds in Zimbabwe. Under the terms of the agreement, the two companies will also form a jointly-owned special purpose vehicle to develop and …

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Disease, forex shortage cripple dairy farmers

By Kudzai Kuwaza Zimbabwe Association of Dairy Farmers (ZADF) chairman Emmanuel Zimbandu told reveald on Tuesday that the cost of drugs and vaccines has crippled the operations of dairy farmers. “The performance of the first quarter was disturbed by heavy rains which resulted in a lot of challenges which includes …

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Workers now toil under the jackboot

By Wongai ZhangazhaIn any given week, Chitoro, who works for one of the biggest referral hospitals in Harare, toils eight hours on day duty and 12 hours night duty. He works under poor conditions as he has to contend with the old dilapidated infrastructure at the institution. The hospital, like …

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AirZim tables debt strategy

By Melody Chikono AirZim is currently saddled with a debt of US$341 million. Of the debt, 92,2% amounting to US$314 million is local debt, while the foreign debt constitutes 8% at US$ 26,1 million. The entity is struggling to court potential investment partners due to its poor balance sheet, among …

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