Proplastics maintains strong performance

Enacy Mapakame Business Reporter PLASTIC pipes and fittings manufacturer, Proplastics Limited had a strong performance in the first four months of the year to April 2018 with revenue coming out 86 percent ahead of same period last year on the back of strong demand and outstanding orders from 2017. Profitability …

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Poor public transport system costs Zim

Africa Moyo Business Reporter A weak public transport system, particularly in urban areas, is responsible for the siphoning of the much-needed foreign currency as citizens import cars to take them to work, analysts say. This comes as our sister publication Business Weekly in this week’s edition reports that about $4,5 …

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Borrowings plague Nampak

Taurai Mangudhla Zimbabwe Stock Exchange listed packaging company Nampak Zimbabwe (Nampak) remains troubled by a $9,3 million short-term borrowings relating to a facility owed to parent Nampak International Holdings. At the end of Nampak’s last financial year to September 2017, there were indications discussions were in place to roll over …

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Zim joins African finance institution

Golden Sibanda Business Reporter ZIMBABWE has become the latest and 19th member of the Africa Finance Corporation (AFC), a leading infrastructure development finance institution, opening more windows for financial investment into the critical sector. Against this background, Minister of Finance and Economic Planning signed the Instrument of Adherence to the …

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Shot in the arm for cotton farmers

Martin Kadzere Senior Business Reporter Government has expanded a support programme for cotton farmers and will provide inputs worth $60 million during the forthcoming season. Through the state-owned Cotton Company of Zimbabwe (Cottco), the Government has so far supported small-scale farmers with inputs worth $130 million over the past three …

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RBZ revs up forex allocation for fuel

THE Reserve Bank of Zimbabwe (RBZ) has increased the foreign exchange allocation for fuel by more than 50% to $20 million per week to cater for increased demand and a rise in international fuel prices, governor John Mangudya (pictured) said yesterday. BY NDAMU SANDU IN BUSAN, SOUTH KOREA The RBZ …

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Business loses confidence in Mnangagwa

THE business community appears to have lost confidence in President Emmerson Mnangagwa’s new political dispensation, with the latest Confederation of Zimbabwe Industries (CZI)’s composite Business Confidence Index (BCI) indicating a negative trajectory, particularly in the first quarter of this year. BY TATIRA ZWINOIRA Since he took over levers of power …

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OK Zim posts 174,6% profit after tax

RETAIL giant, OK Zimbabwe released its financial results this week at an analyst briefing where the company’s profit after tax ballooned 174,6% to $16,6 million during the period ended March 2018 from $6 million recorded the prior year. The company bemoaned the cost of sourcing foreign currency which had the …

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