Lancashire Steel secures investor

Michael Magoronga Midlands Correspondent KWEKWE-based company, Lancashire Steel, has secured an Indian investor, Whinstone Enterprises and is set to resume operations soon. The company suspended operations in 2010 after facing operational challenges owing mainly to the demise of Ziscosteel, its major raw material supplier. Lancashire Steel board chairman, Professor Ngwabi …

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Preventing electronic money fraud, scam

Clive Mphambela Whilst the majority of people work hard for their money, fraudsters are also busy creating new ways of tricking the unsuspecting banking public into divulging critical financial details so that they can eventually steal from them. Last week , we discussed how advances in electronic financial technologies have …

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‘Diversify to increase mineral commodities’

Midlands Correspondent PERMANENT Secretary in the Ministry of Mines and Mining Development, Mr Munesuishe Munodawafa, has implored the mining sector to embark on diversification programmes to increase the number of mineral commodities the country’s economy can benefit from. Mr Munodawafa made the remarks during the Kwekwe Mining Exhibition and Conference …

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Cigar tobacco output hits 24 500kg

Sibongile Maruta Business Reporter Zimbabwe’s cigar wrapper tobacco crop has continued to be popular with farmers with 24 500 kg having been produced during the 2018 marketing season. The high value tobacco brand is being grown in Burma valley where there are favourable conditions. The crop is being funded by …

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Voluntary disclosure of customs, excise offences

This article covers the Voluntary Disclosure programme that is running between July 2018 and December 2018 in as far as it refers to offences relating to the Customs and Excise provisions. Zimra has recorded a number of varying offences. It is against this backdrop that the authority is encouraging any …

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SA firm stalls Salene Chrome acquisition

Tawanda Musarurwa Business Reporter South African chrome and platinum group metal (PGM) producer Tharisa Plc has announced a delay in the completion of its acquisition of Salene Chrome Zimbabwe (Pvt) Limited in view of “ongoing talks”. “Since the original announcements were made, the parties to the agreement have continued discussions …

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Gold prices rise

New Delhi. — Gold prices rose for the third straight day today and added another Rs 50 to Rs 30,650 per 10 grammes amid continued buying by local jewellers and positive global sentiment, reported PTI. Global gold rates hit a one – week high, as the dollar recovered some ground …

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Rand falls

This morning, South Africa reported that consumer prices rose 5,1percent y/y in July, up from 4,6 percent y/y in the previous month. The July reading is still above market expectations of a 5,0 percent increase. On a month-on-month basis, consumer prices in the country rose 0,8 percent in July compared …

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Make your business work for you

One of our favourite authors is Michael E. Gerber who is touted as the number one small business guru. He is renowned for offering practical advice to SMEs on how to build businesses that work. At Genesis, we use some of his teachings to develop products and help our clients. …

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Zim tourism buoyant

Martin Kadzere and Golden Sibanda Zimbabwe’s tourism sector has maintained the buoyancy witnessed prior to the holding of the July 30 harmonised polls, an unusual trend compared to events that characterised previous election periods, a top tourism industry official said. While regional and international observers stationed in Zimbabwe in the …

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