Inflation rate quickens to 2,91pc

Enacy Mapakame Business Reporter Zimbabwe’s annual rate of inflation for June gained 0,20 percentage points to 2,91 from 2,71 percent in May, latest figures from the Zimbabwe National Statistics Agency (ZimStats) show. “This means that prices as measured by the all items CPI increased by an average of 2,91 percent …

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Effects of mercury on human beings

For foetuses, infants and children, the primary health effect of mercury is impaired neurological development. Mercury exposure in the womb, which can result from a pregnant woman’s consumption of fish that contain mercury, can adversely affect a baby’s growing brain and nervous system. Impacts on thinking, memory, attention, language, and …

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NBS opens branch for pensioners

Africa Moyo Business Reporter The National Building Society (NBS) has opened a branch at Harare’s Social Security Centre to exclusively serve the National Social Security Authority (NSSA) pensioners during pay-out days, as part of efforts to reduce the monthly challenges they confront when accessing their payouts. NBS is a building …

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Foreign currency illegal market fuels price hikes

The Confederation of Zimbabwe Retailers has blamed the growth of the black market for foreign currency for fuelling the current wave of increases in prices of basic  commodities. Over the past few days, prices of most consumables have been sky-rocketing, leaving consumers in a lurch. Confederation of Zimbabwe Retailers president …

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MMCZ to set up chrome price control team

THE Minerals Marketing Corporation of Zimbabwe (MMCZ) says it will soon establish a price-regulating team to control chrome prices for the international and domestic markets. BY KUDZAI MUCHENJEKWA Speaking at a chrome small-scale mining sector consultative meeting in Harare yesterday, MMCZ deputy general manager-marketing Masimba Chandavengerwa said local smelters had …

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Cigar wrapper farming lucrative business

Tobacco farmers in Burma valley have now shifted to cigar wrapper farming so they could receive direct payments into their accounts for their crop. By Freeman Makopa Tobacco Industry Marketing Board spokesperson Isheunesu Moyo told NewsDay that they were pushing for the expansion of cigar-wrapper farming. “Cigar-wrapper farming was started …

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Merlin finalising $5 million funding facility with govt

TEXTILE company, Merlin, expects to finalise arrangements on the $5 million funding facility from government in the next “few” weeks, an official has said. BY MTHANDAZO NYONI In his progress update report presented at the creditors’ meeting held in Bulawayo recently, Merlin judicial manager, Cecil Madondo, disclosed that he had …

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Zim companies clinch $3m deals in DRC

ZIMBABWEAN mining companies recently clinched business deals worth over $3 million at the just-ended DRC Mining Week, ZimTrade has said. BY MTHANDAZO NYONI The expo, attended by 10 Zimbabwean mining companies, was held in Lubumbashi in the Democratic Republic of Congo (DRC)from June 13 to 15. “In spite of its …

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‘Broaden access to ICTs’

Golden Sibanda Senior Business Reporter President Mnangagwa has challenged the Postal and Telecommunications Regulatory Authority (Potraz) to be more transparent in the deployment of the universal services fund (USF) to ensure broader access to postal and telecoms services. Speaking after officially opening the telecoms regulator’s $22 million head offices in …

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SECZ launches C-Trade

Tawanda Musarurwa C-Trade, the online and mobile shares trading platform was launched yesterday effectively opening up Zimbabwe’s capital markets to all and sundry. It’s the first of its kind in the Sub Saharan African region. The platform will enable investors, both local and foreign to purchase securities from anywhere in …

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