Zim inflation spikes to 175,66%

ZIMBABWE’S year-on-year inflation rate for the month of June 2019 rose sharply by 77,75 percentage points to 175,66% from 97,85% in May 2019, driven by increases in the price of basic goods, the statistics agency reported yesterday. “The month-on-month food and non-alcoholic beverages inflation rate stood at 55,07% in June …

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Why BAT could represent a value opportunity

At the start of last year, British American Tobacco (BAT) was trading at around R825 per share. Twelve months later, it had almost halved to R450 per share. For something that is thought of as a defensive counter, that was a distinctly poor performance. Analysts who are bullish on the …

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Econet in upward review of data tariffs

Econet Wireless Zimbabwe has reviewed its data bundle and SMS pricing by between 30 and 50 percent, a move seen by analysts as a way to align tariffs with the prevailing economic environment. The new data tariffs, which came into effect at midnight last night, come as the value of …

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Platinum demand to spike

Demand for platinum is expected to shoot after Unki Mine’s parent company, Anglo American Platinum and Platinum Group of Metals launched a next generation battery technology that uses platinum and palladium. The new venture, Lion Battery Technologies, is expected to boost the development of battery technologies using the precious minerals. …

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New DW investor starts clearing legacy debts

AGRI Value Chain Zimbabwe (AVCZ), the new shareholder in David Whitehead Textiles Limited (DW), has started working on clearing all legacy issues, including paying pre-judicial management debts as the company readies for re-opening. In a meeting with DW creditors yesterday, AVCZ owner Praduman Ganediwal, said he would ensure all the …

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Paynet readmits 3 banks as alternative is tested

Golden Sibanda Senior Business Reporter Bulk payments service provider, Paynet Zimbabwe, may have readmitted at least three banks (names withheld) to its platform, days after indicating it will initiate legal action to claim US$100 million damages from banks for contract breaches. But the new substitute for Paynet developed after the …

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China considers limited support for petrol-electric hybrids

BEIJING. — China is considering re-classifying petrol-electric hybrid vehicles so they get more favourable treatment than all-petrol or diesel counterparts under clean car rules, making it easier for automakers to meet environment quotas and offer more choice. Global hybrid leaders Toyota Motor Corp and Honda Motor Co Ltd would be …

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CICM to release third Zim Customer Satisfaction Index

The Chartered Institute of Customer Management (CICM) in collaboration with Select Research (Pvt) Limited is set to release the third edition of the Zimbabwe Customer Satisfaction Index (ZimCSI) on Wednesday in the capital. The ZimCSI is a national indicator on how companies are performing in terms of customer satisfaction at …

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‘Govt to take 100pc of Zupco ownership’

Michael Tome Business Reporter ZIMRE Holdings Limited has signalled a possibility of a disinvestment or a potential buy-out in Zupco by the Government. Government holds 51 percent of the transport company while Zimre has a 49 percent stake it acquired from United Transport Group, the original owners of Zupco, in …

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Tobacco sales 4 percent lower than last year

Zimbabwean farmers have so far sold 222,6 million kilogrammes of tobacco worth US$432.9 million, 4 percent lower than last year’s 231,8 million kg, figures released by the industry regulator show. Statistics released by the Tobacco Industry and Marketing Board on day 77 of sale show that during the same period …

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