Matobo tourist arrivals surge 11% to 11 513

TOURIST arrivals at Matobo National Park surged 11% to 11 513 during the first quarter of the year, spurred by the growth in both foreign and domestic arrivals, an official has said. BY MTHANDAZO NYONI In emailed responses to NewsDay, Zimbabwe Tourism Authority (ZTA) chief executive Karikoga Kaseke said the …

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New machinery set to move mountains for Makomo

PRIVATE Hwange coal miner, Makomo Resources, says it expects to ramp up its production in the third quarter of this year to surpass last quarter’s figures by 50% following acquisition of new machinery. BY MTHANDAZO NYONI Makomo managing director Raymond Mutokonyi told NewsDay yesterday that they were anticipating a significant …

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Markets, depressed prices stifle small-scale chrome producers’ efforts

The Zimbabwe Miners Federation (ZMF), an umbrella board representing small-scale miners, recently elected a new leadership led by the former Zimbabwe Football Association administrator, Henrietta Rushwaya. NewsDay (ND) business reporter Mthandazo Nyoni caught up with ZMF’s newly-elected secretary-general Lindi Mpofu(LM) to discuss issues affecting the sector and listen to the …

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100k still to switch to Zesa prepaid meters

THE Zimbabwe Electricity Transformation and Distribution (ZETDC) yesterday said 100 000 of its customers were still to migrate to the smart prepaid metering system aimed at optimising electricity management and usage. BY KUDZAI MUCHENJEKWA Smart meters are high-precision intelligent prepaid metering systems with bidirectional communication capability that optimises electricity usage …

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Pension industry sees drop in assets in Q4 2017: Ipec

TOTAL assets in the pension industry declined by 6,5% to $4,03 billion in the fourth quarter of last year due to a shrinkage in equity investments that were affected by a drop in equity prices. BY BUSINESS REPORTER The Insurance and Pensions Commission (Ipec) in the 2017 fourth quarter of …

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Be wary of corruption, Zimbabwe urged

Ishemunyoro Chingwere Business Reporter Zimbabwe should be wary of increased cases of corruption as the economy begins to recover under investor friendly policies enunciated by the new dispensation as “dirty” international firms are likely to target the country, the dean of African diplomats accredited to Zimbabwe and Democratic Republic of …

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ATI provides $35bn cover to Comesa businesses

Prosper Ndlovu in Lusaka, Zambia The African Trade Insurance (ATI) Agency, a specialised unit under the Common Market for Eastern and Southern Africa (Comesa), has supported businesses in member states to the tune of $35 billion and insured trade and investments worth 42,4 billion since its inception in 2000. This …

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Agribank secures $30m line of credit

Africa Moyo Business Reporter AGRIBANK has obtained a $30 million line of credit from the Industrial Development Corporation of South Africa (IDCSA) to support the agriculture sector. The facility is favourably priced at Libor +8,9 percent. The IDCSA board’s investment committee met on Wednesday and approved the facility, which is …

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fastjet begins Hre-Byo flights

Africa Moyo Business Reporter Low cost airliner, fastjet, is set to land at the Joshua Mqabuko Nkomo International Airport at about 9am today, on the aviation firm’s inaugural flight on the Harare-Bulawayo route. This move is in sync with a Government decision to embark on the “managed liberalisation” of the …

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