‘Zim not ready to fully implement AfCFTA’

Zimbabwe will fully implement the African Continental Free Trade Area (AfCFTA) in the next 15 years once the country has fully industrialised for it to effectively benefit from the 1,2 billion market provided by the trade agreement, Minister of Industry and Commerce Mangaliso Ndlovu has said. AfCFTA, which is expected …

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Tobacco sales drop 44%

TOBACCO sales are down 44% at $292,8 million after 53 days of trade, compared to $523,5 million achieved last season, data from the industry regulator Tobacco Industry and Marketing Board (TIMB) shows. BY FIDELITY MHLANGA Deliveries are down 12% at 157,7 million kg from 180,3 million kg delivered in the …

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We want salaries in US$: Diamond workers

THE Zimbabwe Diamond and Allied Minerals Workers’ Union (Zdamwu) says workers in the mining sector should be paid in United States dollars since the sector is one of the top foreign currency earners in the country. BY MTHANDAZO NYONI Zdamwu general-secretary Justice Chinhema told NewsDay Business that mining workers should …

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Calls for research culture in schools

Founders High School toppled five schools in a science exhibition competition held by African Institute of Biomedical Science (AIBST) and Technology in collaboration with the Higher and Tertiary Education, Science and Technology Development ministry in Harare yesterday. BY RUTENDO MATANHIKE/RUVIMBO MUNCHENJE The competition sought to challenge high school students to …

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Chrome rakes in US$100m

Ishemunyoro Chingwere Business Reporter HIGH carbon ferrochrome exports have registered a 35 percent jump in the first quarter of the year compared to 85 000 tonnes produced the same period last year, earning the country US$100 million, according to official statistics. The industry has continued to heed President Mnangagwa’s call …

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Govt keeps eye on ill-gotten wealth

Golden Sibanda Senior Business Reporter Proposed amendments to the Money Laundering and Proceeds of Crime Act will incorporate provisions for the High Court to issue out unexplained wealth orders, as Government moves to consolidate efforts to curtail financial and economic crimes such as tax evasion. This comes after President Mnangagwa …

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Budget surplus hits $500m

Golden Sibanda Senior Business Reporter FINANCE and Economic Development Minister Professor Mthuli Ncube’s austerity measures are paying dividends with respect to Government finances, once in shambles due to successive budget deficits, with the latest report on the state of public accounts showing that nearly half a billion RTGS dollars surplus …

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Zimbabwe’s infrastructure structurally deficient: ZIE

THE Zimbabwe Institute of Engineers (ZIE) says government should prioritise investing in infrastructure because the sector has suffered long periods of neglect, delayed maintenance and lack of funding. BY TATIRA ZWINOIRA The engineers’ body revealed that the country has at least 250 structurally deficient bridges. “It is more important than …

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Falling renewable power costs may prop up climate action

Zimbabwe’s ongoing power outages have once again brought into focus the need for accelerated investment into alternative renewable energy by both public and private actors. Energy and Power Development Minister Fortune Chasi last week tilted at this particular windmill, drawing attention to the potentials of solar power in a largely …

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Govt to bring in new dairy investors

Government says it is in negotiation with a consortium of local and international dairy investors with a view of concluding a deal that could see the country augmenting current production which is in excess of 65 million litres. Zimbabwe has for more than a decade failed to produce enough milk …

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