Air Tanzania to relaunch flights from Dar es Salaam

BY FIDELITY MHLANGA AIR Tanzania is set to relaunch flights into Harare from Dar es Salaam this Friday at a time other airlines are pulling out of the country, citing currency challenges. “Get to explore the beauty and opportunities in Zimbabwe and Zambia by flying with us from Dar to …

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TelOne targets $165m revenue

BY MTHANDAZO NYONI STATE-OWNED telecoms operator, TelOne, is forecasting to generate $165 million in revenue this year, which will be anchored on the company’s broadband business, digital services and other value-added services. TelOne spokesperson Melody Harry told NewsDay that despite the economic challenges being faced in the country, the parastatal …

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Zinara rules out tollgate fees hike

BY MTHANDAZO NYONI THE Zimbabwe National Road Adminstration (Zinara) says it will not increase road user fees despite resurgent inflationary pressures. Responding to questions from Matabeleland North road authorities representatives in Bulawayo last week, Zinara board chairman Michael Madanha said the roads agency was looking at increasing revenues without increasing …

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Europe’s middle class shrinking

Raquel Navarro downed an early-morning coffee, kissed her husband goodbye and hurried from her family’s spacious brick home in a suburb north of the Spanish capital. The successful events business she had owned for a decade slowly crumbled when Europe’s financial crisis hit. Now, after dropping her two young children …

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Varun Beverages gets SEZ status

Africa Moyo Senior Business Reporter Beverages manufacturer, Varun Beverages, has been declared a special economic zone, as Government seeks to incentivise the firm that is reportedly planning to put up a new $23 million plant. Varun Beverages has already set up a $40 million beverages plant that produces a range …

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CZI lobbies for currency trading platform

Kudakwashe Mhundwa Business Reporter Zimbabwe’s industrial representative body, the Confederation of Zimbabwe Industries (CZI) is lobbying Government to avail a platform for businesses to legally trade currency to cushion them from foreign currency shortages that are chocking operations, CZI president Silefani Jabangwe has said. During the fourth quarter of last …

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Stanbic unveils $41 000 for Murehwa bridge

Business ReporterStanbic Bank Zimbabwe has availed $41 000 towards the construction of Shavanhowe Bridge in Murehwa, 90km north east of Harare. This adds to the financial institution’s list of high-impact community assistance over the years. The donation by the bank is in keeping with the financial service institution’s quest to …

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Honeymoon over for reckless directors

Golden Sibanda Senior Business Reporter Employees and minority shareholders have edged closer to getting powers to take legal action against directors for breach of good faith when the Companies and Other Entities Bill, currently before Parliament and set to go through public hearings, becomes law. This comes as parliamentary portfolio …

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Inflation seen slowing down in October

ZIMBABWE’S central bank expects inflation to start slowing by October and believes current inflationary pressures are a temporary phenomenon despite hitting a 10-year high of 56,9 % in January. “Yes, inflation has gone up in January, but you also need to understand what drives this inflation. You also need to …

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Small-scale egg producers’ output drops 4%

BY MTHANDAZO NYONI ZIMBABWE’S egg production tumbled by 4% to 36,4 million dozens in 2018, as output by small-scale producers fell, according to a fourth quarter performance report by the Zimbabwe Poultry Association (ZPA). In the report, ZPA chairperson Solomon Zawe said the large-scale in-lay layer production stocks continued to …

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