SA rand falls

JOHANNESBURG. — South Africa’s rand fell early yesterday to its lowest this year as a dispute within in the ruling African National Congress over the central bank weakened demand. At 0800 GMT, the rand was 0,15 percent weaker at 14,8850 per dollar compared with an overnight close of 14,8600. It …

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Parastatals urged to improve service delivery

Government expects parastatals to provide top notch service to clients and move away from the culture of banking on their statutory existence, a Cabinet minister said yesterday. Lands, Agriculture and Rural Resettlement Minister Perrance Shiri told the new Zimbabwe National Water Authority (Zinwa) board in an inaugural address that gone …

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Chrome production largely flat

ZIMBABWE’S chrome production remained largely flat in the first four months of this year, with official figures showing that total output registered marginal growth of 0,5 percent. Statistics availed to The Business Weekly by the Ministry of Mines and Mining Development, show that chrome mining houses hauled a combined 532 …

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Gweru moots water bottling company

GWERU City Council says it is planning to establish a water bottling company as part of the local authority’s strategy to diversify its revenue streams, a senior council official has said. BY STEPHEN CHADENGA Acting finance director Owen Masimba said the project will be a joint venture between council and …

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Nerwande appointed Chamber of Mines president

Mimosa head of corporate affairs Elizabeth Nerwande has been appointed president of the Zimbabwe Chamber of Mines, making her the first woman to hold that office in a field dominated by men. By Business Editor She was elected to lead the mining body at the chamber’s annual conference which was …

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Padenga optimistic about 2019 second half

PADENGA Holdings says it is optimistic about the remaining six months of the year and achieving operational and financial targets for the period. BY MISHMA CHAKANYUKA The company, which is engaged in the production and sale of crocodile skins and meat, anticipates to sell out its entire production this year …

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Mphoko pockets US$3 million to exit Choppies

Former Vice-President Phelekezela Mphoko and his son Siqokoqela have sold their shares in Choppies Supermarkets Zimbabwe for US$2,9 million, the company has announced. Zimlive.com In a notice to shareholders, Botswana-headquartered Choppies said before the transaction, it held “93% of the economic interest and 49% of the equity while the Mphokos …

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Counterfeit goods hurt business: Mapwashike

Zimbabwe has become a haven of counterfeit and smuggled goods despite efforts to curb this illicit trade, an anti-counterfeit watchdog has said. In a statement to mark World Counterfeit Day today, Mrs Betty Mapwashike, the executive director of the watchdog, said the market continues to thrive across all sectors of …

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Application of Act

One of the inadequacies that was often cited in connection with the repealed Procurement Act [Cap 22:14] was its limited application with regards to certain procurement process. In order to redress such weaknesses, the Public Procurement and Disposal of Public Assets Cap 22:23 Act’s section three (3) provides for application …

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SA rand weakens

JOHANNESBURG. — South Africa’s rand continued to weaken against the dollar yesterday, a day after local data showed the economy suffered its worst quarterly contraction in a decade at the start of 2019. The rand is also reeling from news that South Africa’s ruling party is arguing over whether to …

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