Mining firms not forced to list on ZSE

Golden Sibanda recently in Victoria Falls GOVERNMENT will not compel mining companies in the country to list on the Zimbabwe Stock Exchange as such policy perspective is not in line with the vision of the new dispensation, a Cabinet minister has said. Mines and Mining Development Minister Winston Chitando told …

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Forex challenges hamper ZETDC

The Zimbabwe Electricity Transmission and Distribution Company (ZETDC), connected only 2 597 prepaid metres out of the targeted 30 000 by April 2018 under the 100 days Rapid Results Initiative (RRI) due to serious foreign currency shortages. Under the Zim-Asset blueprint, ZETDC is targeting to install 800 000 prepaid metres …

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Fertiliser industry needs $120m for 2018/19 season

BY FREEMAN MAKOPA Chemplex Corporation Limited chief executive officer, Tapuwa Mashingaidze said the local industry had the capacity to produce fertiliser locally, but required foreign currency to import essential raw materials for the manufacture of the stimulant. “For 600 000 tonnes of fertiliser demand this year, $120 million in forex …

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Chinamasa warns on salary hikes

BY FIDELITY MHLANGA Chinamasa, who was speaking on Friday at the Women’s Conversation on Legislation with HE President Emmerson Mnangagwa in Harare last week, said the increases could make the wage bill grow from 90% of government revenue to 120%. “Another problem causing cash shortages is the fact that we …

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Foreign currency scarcity ‘smokes’ out BAT

BY TATIRA ZWINOIRA In an interview with NewsDay after BAT’s annual general meeting held at their premises in Harare last week, Mlambo said the main challenge in 2017 was foreign currency, which continues to persist. “We are in the same boat. We are not an exporter, so we rely on …

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‘Banks prioritising Harare firms on forex allocations’

BY MTHANDAZO NYONI Zimbabwe National Chamber of Commerce Matabeleland chapter chairman, Golden Muoni told NewsDay in an interview last week that companies outside Harare were being short-changed by financial institutions. “As we are in this environment, where there are a lot of shortages of foreign currency, there is need for …

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TelOne launches National Broadband Backbone (NBB) project

TelOne is in the process of upgrading its nationwide system and exchanges as part of its US$98 million national Broadband Backbone (NBB) project. As a result of the project, TelOne will be able to provide a better range and quality services to enable its clients to enjoy world class communications The …

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Industry cheers British bailout

BY TATIRA ZWINOIRA CDC is a development finance institution owned by the United Kingdom government under the Department for International Development. CZI president Sifelani Jabangwe said the financial package would go a long way in supporting its intended recipients in the manufacturing sector. “It is a positive thing in that …

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Caaz expanding airports for growing passenger traffic

By Mthandazo Nyoni NewsDay (ND) business reporter, Mthandazo Nyoni caught up with CAAZ general manager, David Chawota (DC) on the state of Zimbabwe’s civil aviation industry among other issues. Below are the excerpts of the interview: ND: What is the current state of civil aviation industry in Zimbabwe? DC: The state of the …

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May is International Internal Audit awareness month

ONE does not have to sit in the boardroom or occupy the CEO’s chair to recognise the rapid-fire changes going on in today’s business arena. News outlets regularly report on corporate scandals and frauds, privacy invasions, compromised ethics, and governance lapses. These events and the resulting laws and regulations, coupled …

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