Firms urged to invest in digital marketing

Michael Tome Business Reporter Local companies should invest in digital marketing to overcome geographical boundaries in promoting their products and services to enhance competitive advantage internationally. This was said by the senior principal director in the Department of Public Affairs and Knowledge Management in the Office of the President and …

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US$800m to oil interbank market

Tawanda Musarurwa Senior Business Reporter Fiscal and monetary authorities are working to enhance the effectiveness of the interbank foreign exchange market by taking steps that will release around US$800 million into the market, Finance and Economic Development Minister Mthuli Ncube has said. The interbank market was introduced this February to …

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Zim realises $455m from mineral sales

BY MTHANDAZO NYONI ZIMBABWE realised about $455 million from mineral sales, excluding gold and silver, in the first quarter of the year, with chrome being the biggest contributor, an official has said. “The first quarter was not bad for all our minerals. In total, the country produced about 399 000 …

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Govt’s erratic payments affect procurement

BY TATIRA ZWINOIRA GOVERNMENT procurement processes are being weighed down by delays in releasing payments for goods and services, NewsDay has learnt. “The issue of arbitrage pricing mainly comes from the lack of confidence the private sector has in government. Government was a bad debtor. It was known that when …

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Restrictive economic environment hits Afdis

BY MTHANDAZO NYONI SPIRITS and wine maker African Distillers Limited (Afdis) says it has not resumed cider exports into the region due to the prevailing restrictive economic environment. The currency distortions are making it hard for Afdis to price its products. Afdis had been exporting into the region after it …

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Medtech records $1,4m profit after tax

BY MISHMA CHAKANYUKA MEDTECH Holdings posted a profit after tax of US$1,4 million in the year ended December 31, 2018 from a loss of US$459 279 in 2017, but the company has warned of imminent stock outs emanating from failure to pay debts owed to foreign creditors. In a statement …

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Restrictive economic environment hits Afdis

BY MTHANDAZO NYONI SPIRITS and wine maker African Distillers Limited (Afdis) says it has not resumed cider exports into the region due to the prevailing restrictive economic environment. The currency distortions are making it hard for Afdis to price its products. Afdis had been exporting into the region after it …

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Caledonia records 200% profit increase

BY Staff Reporter CALEDONIA Mining Corporation reported an increase in after-tax profit to US$9,3 million in the first quarter compared to US$3,1 million last year due to foreign exchange gains and the profit on disposal of a subsidiary, the combined effect of which outweighed a lower gross profit. Gross profit …

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Using Request for Quotations procurement method

Request for Quotations (RFQ) is by far one of the most popular methods of procurement used in public procurement. The RFQ method of procurement is provided for under section 34 of the Public Procurement and Disposal of Public Assets (PPDPA) Act (Cap 22:23), and it entails a process in which …

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Govt drafts National Quality Policy

Kudakwashe Mhundwa and Kumbirai Tarusarira Business Reporters Government has drafted the National Quality Policy (NQP) which seeks to establish a national accreditation body and a market surveillance unit to assess the quality of products produced in local industries, as it moves to ensure that products meet conformity standards of both …

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