Merspin secures Swiss partners

Oliver Kazunga Bulawayo Bureau Bulawayo-based textile concern Merspin Limited, has secured technical partners from Switzerland to redesign the local plant and recommend new equipment for the proposed factory upgrade. The company, which closed down in 2010 in Bulawayo recently cleared a legal battle between Merlin Limited’s judicial manager Mr Cecil …

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Private equity firms eye David Whitehead

Martin Kadzere Senior Business Reporter David Whitehead is in serious negotiations with two unnamed investors seeking to inject fresh capital and revive the struggling textile firm, sources familiar with the talks have revealed. The company resumed operations early this year following two years of inactivity after receiving a $2 million …

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TelOne pushes for debt takeover

Africa Moyo recently in MAZOWE GOVERNMENT should take over TelOne’s legacy debts amounting to $383 million to realise a meaningful value from the privatisation process which is underway, a senior company executive has said. The State-owned fixed telecoms operator is technically insolvent due to the legacy loans dating back to …

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Cassava makes history

Own Correspondent Cassava SmarTech Zimbabwe made history yesterday when it debuted in the market at a price of $1,50 per share, valuing the company at $3,8 billion. It immediately became Zimbabwe’s third most valuable company after Delta and Econet Wireless. By any measure this is easily the largest public listing …

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Beacon of food production

The livestock industry, viewed as a beacon of national food production, has increased meat, egg and milk production during the first nine months of 2018. Record growth was achieved in the country’s largest meat industry — broiler production — while the egg industry is rebounding from last year’s outbreak of …

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Floods shatter Nigeria’s food export dreams

Nigeria dreamed of a farming renaissance that would slash food bills and rival oil as its top export. It didn’t count on gun-toting herdsmen, heavy floods and a persistent Islamist insurgency. That perfect storm of insecurity and poor planning has hobbled one of President Muhammadu Buhari’s flagship pledges to cut …

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Gold inches lower

Gold prices inched lower yesterday as the dollar held firm below a 19-month peak on safe-haven demand amid concerns of a global economic slowdown, and as investors awaited cues on US interest rate hikes from a Federal Reserve meeting this week. Spot gold was unchanged at $1,238.12 per ounce at …

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‘Small grains seed stock adequate’

Enacy Mapakame Business Reporter The Grain Marketing Board (GMB) has assured farmers in drought prone areas of adequate stocks of small grain seed under the Presidential Well Wishers Input Scheme. Small grains, such as sorghum, millet and rapoko thrive in dry regions. Due to their drought resistant nature, farmers especially …

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Govt receives $1m AfDB grant to fight cholera

THE African Development Bank (AfDB) yesterday extended a $1 million grant to Zimbabwe which will be used to combat cholera. BY STAFF REPORTER Country manager Damoni Kitabire said although the regional bank would not extend any loans to Zimbabwe until the southern African country settled its arrears, it had committed …

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