Zimra surpasses Q3 revenue targets

Tawanda Musarurwa Senior Business Reporter The Zimbabwe Revenue Authority (Zimra) has announced gross collections amounting to $1, 28 billion against a target of $1, 089 billion in the third quarter of this year, according to the latest quarterly revenue report. Net revenue collections for the third quarter improved by 22, …

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Amtec diversifies into farm equipment

Michael Tome Business Reporter India’s tractor and farm equipment manufacturer Tafe, through AgriMag of South Africa has awarded a distribution licence of its products to Amtec Motors (Zimbabwe). Through the franchise arrangement between Tafe and AgriMag, Amtec is now selling tractors and an assortment of agro equipment comprising of boom …

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Oil prices ease

LONDON. — Oil prices and calendar spreads have softened significantly this month as traders became more confident about the availability of supplies towards the end of the year and into early 2019. Iran’s exports have not declined as much as predicted a couple of months ago and it is now …

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Chicken Inn to open Gokwe branch

Michael Magoronga Simbisa Brands, owners of popular fast foods outlet, Chicken Inn are set to open a branch in Gokwe. Simbisa Brands Southern Region operations manager, Mr Xolisani Gama confirmed the development saying it has been necessitated by an overwhelming turnout of Gokwe customers to their Kwekwe branch. “There are …

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Zera warns errant fuel suppliers

Enacy Mapakame Fuel service stations deliberately hoarding and limiting supply of fuel for speculative purposes, which has resulted in artificial shortages, risk prosecution as well as losing their licences, industry regulator Zimbabwe Energy Regulatory Authority (Zera) has warned. The country has been experiencing fuel supply challenges with long winding queues …

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Local authorities need $2,3bn for water systems

ZIMBABWE’S local authorities need a combined $2,338 billion investment in water supply and solid waste management in the next five years, Local Government Investment Conference (Logic) chairperson George Makunde has said. BY MTHANDAZO NYONI Makunde, who is also Chitungwiza town clerk, said service delivery was in a sorry state for …

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Card cloning fraud cases on the rise

THE Zimbabwe Information and Communication Technologies (ZICT) says 154 cases of bank card cloning have been reported in the country so far as more people use electronic payment systems in the absence of cash. BY TATIRA ZWINOIRA Card cloning, fraud, identity theft, money-laundering through electronic vandalism, among others, are the …

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Cabinet meeting disrupted by power cuts

THE ongoing power outages that have ravaged Harare since Tuesday interrupted a Cabinet meeting, NewsDay has learnt. BY FIDELITY MHLANGA Energy minister Joram Gumbo told NewsDay yesterday that he was aware of the prevailing power blackouts that have affected Harare residents. “Zesa has made an announcement that there is a …

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ZADT disburses $87,5m to support farmers

THE Zimbabwe Agricultural Development Trust (ZADT) has so far disbursed a total of $87,5 million to agri-businesses through micro-finance institutions (MFIs) and banks, officials say. By Freeman Makopa The fund, which started in 2012 with a seed capital of $3,8 million from donour partners — Danish International Development Agency (Danida), …

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Discard penchant for imports: Economist

Nqobile Tshili Business Correspondent Zimbabweans should discard the consumptive appetite for luxurious imports and embrace domestic production so as to increase export earnings and limit the pressure on foreign currency requirements, an economic expert has said. Speaking during a Public Policy Research Institute of Zimbabwe’s policy dialogue in Bulawayo, which …

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