Zim to sign $700m coal-bed methane deal

GOVERNMENT plans to sign a $700 million deal with an investor that will develop a coal-bed methane site, Mines and Mining Development Minister Winston Chitando, said. The imminent deal comes as President Mnangagwa’s administration, which took office in November last year, courts foreign investment to rebuild an economy after years …

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Hwange Colliery woes frustrate Zimchem

Lovemore Zigara Midlands Correspondent OPERATIONAL challenges at Hwange Colliery Company Limited have hit hard on Zimbabwe Chemical Refineries (Zimchem), which is struggling to procure critical raw materials to produce solvents and coal tar products. Capacity constraints at Hwange Colliery, which supplies most of the company’s raw materials to Zimchem, have …

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Tobacco merchants face prosecution

Livingstone Marufu Business Reporter In an unprecedented move, farmer representative bodies are combining efforts to bring to book tobacco contracting firms that are allegedly prejudicing tobacco farmers of millions of dollars, The Herald Business has learnt. This comes after thousands of independent tobacco farmers were unwittingly registered by corrupt merchants, …

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Strong institutions bedrock of economic prosperity

By Victor Bhoroma The most telling story is the journeys travelled by the two Korean states since their border separation in 1950. South Korea has grown to be a world economic super power in the last 30 years, thanks to its strong institutions. Their kith and kin, North Korea is …

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Zimpost eyes big chunk of e-commerce business

By Mthandazo Nyoni In the past year, the quasi-government institution has been opening a new leaf through digitising and migrating its services to the mobile and e-platforms. Recently, it unveiled its new logo which, according to the company’s acting managing director, Sifundo Moyo (SM), speaks to this new business thrust. …

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HDI Youth Marketeers enters Zim

BY BUSINESS REPORTER HDI will be part of advertising agency, TBWA Zimbabwe. It becomes the third business to be established by TBWA Group in Zimbabwe, following the opening of the TBWA creative agency in 2012 and Magna Carta Reputation Management Consultants in 2016. HDI Africa group chief executive officer, Bongani …

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Unki imports bricks from China

BY BUSINESS REPORTER The consignment of 98 tonnes of refractory bricks came via a chartered plane this week. It is understood that a supplier from South Africa failed to meet the requirements, hence the importation of the bricks from outside the continent. The importation of the refractory bricks is an …

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Accountants issue TBs warning

BY FIDELITY MHLANGA TBs are used by government when borrowing from the domestic market to plug the hole caused by a mismatch between revenue and expenditure. They are issued by the central bank on behalf of government and the stock of TBs and bonds was $5,2 billion at the end …

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China’s Xiaomi set to raise $10bn on Hong Kong stock exchange

The Chinese smartphone maker Xiaomi is reportedly seeking to raise at least $10bn (£7.3bn) by floating on the Hong Kong stock exchange, in what could be one of the world’s biggest initial public offerings in years. The IPO, announced in stock exchange filings on Thursday, may be the largest since the e-commerce giant Alibaba listed in …

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