Agribank secures $30m line of credit

Africa Moyo Business Reporter AGRIBANK has obtained a $30 million line of credit from the Industrial Development Corporation of South Africa (IDCSA) to support the agriculture sector. The facility is favourably priced at Libor +8,9 percent. The IDCSA board’s investment committee met on Wednesday and approved the facility, which is …

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fastjet begins Hre-Byo flights

Africa Moyo Business Reporter Low cost airliner, fastjet, is set to land at the Joshua Mqabuko Nkomo International Airport at about 9am today, on the aviation firm’s inaugural flight on the Harare-Bulawayo route. This move is in sync with a Government decision to embark on the “managed liberalisation” of the …

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Zimra intercepts $10m drugs

Africa Moyo THE Zimbabwe Revenue Authority (Zimra) says it intercepted dangerous drugs worth $10 million last year, after increasing its footprint at ports of entry. This comes as the tax collector, together with State security agents, is currently under fire for not fully policing borders and airports to stem smuggling. …

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Unki platinum production up

Production of platinum at Unki Mine for the second quarter ended on June 30 this year increased by 7 percent to 20 900 ounces from 19 500 ounces recorded in the same period last year due to a rise in concentrator output and recoveries. The Shurugwi-based mine is one of …

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Farmers call for tariff review

President Mnangagwa has called for high levels of commitment by farmers especially those near water bodies to ensure high productivity and subsequent food sufficiency. There are serious concerns over under-utilisation of vast water bodies and irrigation facilities across Zimbabwe. However, farmers’ representatives called for a special subsidy on electricity, water …

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ED dares mining firms

Ishemunyoro Chingwere Business Reporter Government is working on a framework that will see all big mining companies in the country returning to full production to enhance their contribution to the fiscus and employment creation, President Mnangagwa has said. The President made the remarks in a stakeholders meeting he held with …

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Zesa unit in fraud storm

Golden Sibanda Senior Reporter ZIMBABWE Power Company (ZPC) has flown into the eye of a storm amid revelations a senior executive of the State- owned power utility allegedly awarded a multi-million dollar contract without going to tender. ZPC has since instituted investigations into suspected irregular conduct by company secretary Ms Norah …

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Zimra surpasses H1 target

Africa Moyo Business Reporter THE Zimbabwe Revenue Authority (Zimra) performed beyond expectations in the first half of 2018 after gross collections hit $2,41 billion against the budgeted $2,10 billion, driven by excise duty, net value added tax on local sales and individuals. This means the tax collector surpassed the set …

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IDBZ offers infrastructure value chain loans

Martin Kadzere Business Reporter THE Infrastructure Development Bank of Zimbabwe has come up with a loan facility specifically targeting players in infrastructure value chain, a senior official said. Known as the Infrastructure Value Chain Financing, the facility is meant to promote infrastructure development by enhancing the capacity of key players …

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Zimra speaks on board fees

Africa Moyo Business Reporter THE 9 percent jump in fees and allowances for Zimbabwe Revenue Authority board members for the year to December 31 last year, has been attributed to the high number of meetings held to tackle pressing issues raised in the forensic audit. The forensic audit report unearthed …

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