Econet refutes false media reports

Own Correspondent Econet has dismissed media reports claiming that it violated labour laws and that its sister company, EcoCash, was complicit in irregular mobile financial transactions. In a statement, Econet said the reports by a blogger were “patently false and irresponsible” adding that Econet reserved its legal rights on the matter.  …

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$6m livestock facility roars to life

Africa MoyoAGRIBANK has started disbursing funds under the $6 million livestock facility availed by Government to revive the livestock sector and is calling on more farmers to apply for the funds. Government came up with the facility, which is being administered by Agribank, after realising the challenges affecting the livestock …

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‘Traders drive black market rates’

Golden Sibanda Senior Business ReporterFINANCE and Economic Development Minister Mthuli Ncube says foreign currency exchange rates on the parallel market are being driven by speculative traders who want to make huge profits and not people seeking to hedge against the rising inflation. Zimbabwe’s annual inflation hit 97,8 percent in May …

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New currency regime averts re-dollarisation

Martin Kadzere and Enacy MapakameThe abolishment of the multi-currency system by Government will avert the country from plunging into full re-dollarisation at a time the economy do not have enough United States dollars to support it, some economic analysts have said. With effect from yesterday, the Government declared the RTGS …

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Milk production increases 15%

ZIMBABWE’S milk production jumped 15% to 19,4 million litres in the first quarter of the year, but remains below national demand, a new report has shown. BY MTHANDAZO NYONI In its latest report, the Livestock and Meat Advisory Council (Lmac) said the 2019 first quarter production was a 15% increase …

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Zimra to engage companies over tax compliance

ZIMBABWE’S tax agency plans to engage companies to increase tax compliance in the country. By Business Reporter Without any direct external budgetary support, the southern African nation solely relies on taxes to fund its operations. But because of the rapidly deteriorating economic situation characterised by company closures and downsizing, most …

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Insects as food, feed: CUT discusses the potential

Jeffrey Gogo Climate StoryInsects are a dietary staple in many cultures, not least in Zimbabwe, where a plethora of insects from flying termites (ishwa) to mopane worms (madora) are consumed. They are almost pure protein, good for food and feed. Now the Chinhoyi University of Technology together with the Swedish …

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Inflation drop at core for Fed rate cuts

WASHINGTON. — June 2018 was a blue-sky month for the Federal Reserve, with strong economic growth, low unemployment, and inflation expected to top the US central bank’s 2 percent target for the year — smooth sailing for an interest rate hike then and two more over the following six months. …

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Seed Co to commission seed drier

Michael Tome Business ReporterSEED Co says it intends to commission its long awaited Artificial Maize Seed Drier locally in February 2020 with a further objective to spread the technology to its key regional markets as time progresses. The move has been necessitated by the company’s determination to curb seed post-maturity …

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ZSE amasses $2 billion in a week

Enacy MapakameStocks maintained an upward trajectory on firming demand as investors on the Zimbabwe Stock Exchange (ZSE) amassed a cumulative $2 billion last week alone. In the week to Thursday, all the key market indicators finished in the black, week on week as investors seek safety from a volatile economic …

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