Govt to build 10 hospitals

Livingstone Marufu Property Reporter Government has revived plans to construct 10 state-of-the-art memorial hospitals for war veterans in each province as it seeks to improve the welfare of former freedom fighters, collaborators, detainees and other groups that participated in the country’s liberation struggle. This comes after President Mnangagwa’s administration said …

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Zimra surpasses April target

Livingstone Marufu THE Zimbabwe Revenue Authority (Zimra) says it surpassed its gross revenue target for April 2018 by 9,81 percent to reach $361,88 million. Zimra acting corporate communications head Taungana Ndoro, said the strong performance was on account of a number of measures the authority put in place to improve …

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No winter blackouts

Business Reporter Power utility Zesa Holdings, says it has put in place measures to ensure that there will be no blackouts during winter when demand for electricity increases. Zimbabwe has not experienced major power blackouts since December 2015 and the supply is expected to remain stable in the foreseeable future, …

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New dispensation real boon for tourism

Isdore Guvamombe recently in DURBAN, South Africa Since the coming in of the new political dispensation in Zimbabwe, tourism receipts have dramatically increased and statistics from the Victoria Falls alone, can confirm, captains of the tourism industry have said. Hotels in the Victoria Falls, it emerged, are now fully booked …

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Govt eyes one-stop-shop investment centre

Herald Business Correspondent GOVERNMENT has started gathering input from the private sector on the possible merger of six entities to form a one-stop shop investment centre. According to preliminary work, eight entities have been proposed to be part of the one-stop-shop, but only three are likely to be wholly merged …

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10pc export incentive for cotton farmers

Livingstone Marufu Business Reporter The Reserve Bank of Zimbabwe (RBZ) has extended its export incentive to cotton farmers who are set to receive an additional 10 percent over and above proceeds for the crop delivered to registered private companies who provided them farmers with inputs. Since 2016, the central bank …

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Central bank enhances measures for external capital flows

Tawanda Musarurwa Senior Business Reporter The Reserve Bank of Zimbabwe (RBZ) is working on strengthening its legal, institutional and regulatory frameworks to effectively ring-fence foreign investments to enable investors to repatriate funds without difficulty. This is further progress to the announcement made by RBZ governor Dr John Mangudya in the …

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RBZ ban hits Golix

Jeffrey Gogo Herald Business Correspondent Harare digital money exchange Golix.com has suspended plans to raise $35,8 million through an Initial Coin Offering (ICO) until further notice, after the Reserve Bank of Zimbabwe (RBZ) effectively shut the door on the trade of cryptocurrencies in the country. The ICO, Zimbabwe’s first, was due to …

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Fuel, booze, airtime boost Zimra excise duty

Fuel, beer and airtime were the largest contributors to excise duty collections for the month of April, as the Zimbabwe Revenue Authority (Zimra) surpassed its overall collection targets for the month. By Freeman Makopa Zimra, however, failed to meet its targets in excise duty collections for the month, collecting $65 …

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Zimbabwe’s trade deficit widens

ZIMBABWE’S trade deficit from February to April 2018 skyrocketed by 69% to $860,3 million as the Southern African country battles to correct trade imbalances, latest trade data from the national statistics agency shows. BY MTHANDAZO NYONI In the same period last year, the trade deficit was $510 million. Figures for …

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