ZANU PF to clamp down on land barons

Kudzanai Sharara The ZANU PF Government says it will put an end to irregular allocations of land and development of shanty towns if re-elected in the forthcoming 2018 harmonised elections. In its 2018 election manifesto launched last week, the ruling party said it will also eliminate all forms of land …

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Hwange mulls selling town, houses

Africa Moyo Property Reporter The country’s oldest coal mining firm, Hwange Colliery Company Limited (HCCL), is considering selling the town for $300 million as part of efforts to raise funds to off-set its obligations with a number of creditors. This includes selling part of its 5 000 employee houses to …

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Coca-Cola marks 70 years in Zim

Business Reporter The Coca-Cola Company is today celebrating 70 years of operations in Zimbabwe and is planning to step up innovation as well as drive economic empowerment and environmental stewardship into the future. The beverages company, which came into the country in 1948, is also celebrating its 132nd birthday globally …

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RBZ releases $450k daily for tobacco farmers

Livingstone Marufu The Reserve Bank of Zimbabwe (RBZ) says it is disbursing $450 000 daily to banks with branches at tobacco auction floors to ensure farmers access cash. This comes following an outcry from farmers who are reportedly failing to access the prescribed $300 cash daily from banks at the …

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ZSE extends CFI suspension

Business Reporter The Zimbabwe Stock Exchange (ZSE) has further extended CFI Holdings Limited’s suspension from the bourse by another 30 days pending further investigations into irregularities in the agro-industrial group. CFI was initially suspended on January 2, 2018 and was further prolonged to May 2, 2018. This therefore becomes the …

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IDBZ engages experts over accommodation project

Property Reporter THE Infrastructure Development Bank of Zimbabwe (IDBZ) has started the process to engage experts to design buildings for its staff and students accommodation housing project in Zvishavane and Lupane. IDBZ said it had been mandated to mobilise funding for construction of accommodation for tertiary students, academic medical staff …

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Miner builds lithium plant in Kwekwe

Ishemunyoro Chingwere Business Reporter ZIMBABWE has moved a step closer to lithium value addition, as enunciated by President Emmerson Mnangagwa, following installation of a pilot lithium carbonate plant in Kwekwe by Australian-listed mining company, Prospect Resources. According to a notice by Prospect Resources, Mines and Mining Development Minister Winston Chitando, …

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Money changers face prosecution

Livingstone Marufu Business Reporter GOVERNMENT, through the Judicial Services Commission, is finalising administrative mechanisms for establishment of the Commercial Court, which will prosecute offenders for commercial crimes, among them externalisation and illegal trade in cash, a senior official said. The Commercial Court, expected to be operational before the end of …

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Hwange requires $500m capital injection

Africa Moyo Business Reporter Hwange Colliery Company Limited’s (HCCL) management is set to meet Mr Nicholas van Hoogstraten, one of its major shareholders today to discuss possibilities of him injecting fresh working capital into the business. The firm requires over $500 million working capital. This comes as the company remains …

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Iron and steel makers seek $20 million

BY FIDELITY MHLANGA This comes as the sector is undercapitalised and also weighed down by obsolete equipment and foreign currency allocation nightmares. Engineering, Iron and Steel Association of Zimbabwe president Austin Tigere told Standardbusiness on the sidelines of the launch of a Bystronic fibre laser cutting machine last week that …

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