Karo commences platinum exploration

Martin Kadzere Karo Mining Holdings has commenced exploration to delineate the platinum group metals (PGM) resource at its mining concession on Zimbabwe’s mineral rich Great Dyke. Located in Mhondoro-Ngezi mineral belt west of Harare where Zimplats — the country’s largest platinum company — has operations, the integrated US$4,2 billion project …

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NetOne board speaks on Muchenje return

Africa Moyo Senior Business Reporter NETONE Cellular board chairman James Mutizwa says the company is pleased that a solution regarding the status of chief executive officer, Lazarus Muchenje, has been found, and is expecting him to continue the turnaround efforts that saw the parastatal recording its first month-on-month profit during …

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Varun Beverages eyes agro-processing

Enacy Mapakame Business Reporter Indian beverages firm, Varun Beverages, is eyeing agro-processing business in a move meant to boost export earnings for the country with an investment of not less than US$30 million in the pipeline. In June last year, the beverages maker launched its beverages plant that produces Pepsi, …

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IPEC to announce compensation framework

Kudakwashe Mhundwa Business Reporter Insurance and pensions regulator, IPEC, is soon expected to announce a compensation framework to policy holders whose claims were eroded during the conversion of values from Zim-dollar to the United States dollars during the February 2009 period. Devaluation of pension and policy holder accounts during the …

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SAZ aligns local standards with continent

Africa Moyo Senior Business Reporter The Standards Association of Zimbabwe (SAZ) is working on aligning local standards with those of the rest of the continent ahead of the coming into being of the African Continental Free Trade Area (ACFsTA). This meant to ensure locally manufactured goods and services meet the …

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Cabinet Okays ZMDC unbundling

Ishemunyoro Chingwere Business Reporter Cabinet on Tuesday approved the unbundling of State mining arm — the Zimbabwe Mining Development Corporation (ZMDC) — into four mineral specific units as efforts to improve efficiency in State-owned assets gather pace. There had been concerns that the previous order was too bloated for one …

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Japan eyes Zim investment opportunities

Enacy Mapakame Business Reporter Japanese companies have expressed keen interest in investing in Zimbabwe saying there is renewed impetus for business and economic growth. This comes as the Japanese visited Zimbabwe on a two-day “Japan Business Mission to Zimbabwe,” organised by their Chamber of Commerce and Industries in South Africa …

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Foreign currency reconciled on RTGS

Tawanda Musarurwa Senior Business Reporter The Reserve Bank of Zimbabwe (RBZ) will introduce Foreign Currency Accounts (FCAs) that will be utilising the real time gross settlement system (RTGS) by the end of this month. This comes as the central bank abandoned the 1:1 rate for United States dollars against RTGS …

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Econet ‘housekeeping’ trades spur ZSE

BY FIDELITY MHLANGA THE Zimbabwe Stock Exchange (ZSE) on Tuesday recorded one of its biggest trades in the post-dollarisation era dominated by trades in Econet and Cassava, valued at a record $222,46 million. According to the ZSE, Econet Wireless Zimbabwe Limited and Cassava SmarTech Zimbabwe Limited traded 81 072 230 …

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Muradzikwa quits Nicoz Diamond

Equity Axis Distinguished insurance executive, Grace Muradzikwa is stepping down from NicozDiamond, Zimbabwe’s largest short-term insurer after 30 years with the company. Muradzikwa had been managing director for Nicoz Diamond after leading its first transformation from then Diamond Insurance, which was at the brink of collapse, to a stronger and …

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