Zim power generation project bears fruit

Africa Moyo Senior Business Reporter Zimbabwe’s deliberate focus on investing in electricity generation since 2009 is beginning to bear fruit amid indications that all of last week, the country relied solely on locally generated electricity. The move saw a break from the importation of about 350MW from South African power …

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ACCA marks Global Ethics Day

Business Reporter The separation of bank accounts into FCA and RTGS FCA accounts is a cause for concern for the accounting profession in terms of reporting in particular for companies that report globally, a breakfast meeting to mark the Global Ethics Day heard yesterday. Participants at a round-table breakfast meeting …

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‘Capitalise on mining boom’

Golden Sibanda Senior Business Reporter MINES and Mining Development Minister Winston Chitando has challenged the local manufacturing industry to quickly position itself for anticipated boom of the mining sector to be able to produce and supply key equipment and other inputs required by the sector. Minister Chitando last week told delegates …

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Agric Trust disburses $87m to agric

Africa Moyo Senior Business Reporter THE Zimbabwe Agricultural Development Trust (ZADT) has disbursed $87,5 million to almost 530 000 small-holder farmers and agribusinesses, as it seeks to boost their operations. Of the beneficiaries, 26 percent were women, which is in tandem with Government’s drive to economically empower them. The funds were …

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Afreximbank confirms $500m facility talks

Business Reporter The African Export-Import Bank (Afreximbank) has confirmed holding talks with a Zimbabwean delegation led by Finance and Economic Development Minister Professor Mthuli Ncube  in connection with a $500-million nostro stabilisation facility. Zimbabwe, which is going through a damaging foreign currency crisis, is looking for stabilisation facilities while at …

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AMA raises $75m for grain procurement

Martin Kadzere Senior Reporter The Agricultural Marketing Authority has raised $75 million for grain procurement after the agro-bills it issued last month were fully subscribed, an official said. Analysts said the overwhelming response is largely attributed to growing appetite for such instruments in light of perceived uncertainty over Zimbabwe’s currency …

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Cement sector has excess capacity: Lafarge

Bulawayo Bureau Zimbabwe cement industry has excess capacity to meet the 1,3 million tonnes annual domestic demand as the sector has an installed capacity of 2,4 million tonnes, an official has revealed. Last month the market experienced cement shortage, which the country’s largest cement producer, PPC Zimbabwe, attributed to annual …

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Wheat supply remains critical

Enacy Mapakame Herald Reporter Zimbabwe’s wheat supplies remain critical due to logistical challenges arising from failure by the National Railway of Zimbabwe to speedily move the grain from Beira, Mozambique. The Grain Millers Association of Zimbabwe said nearly 180 wagons were stuck in Beira, blaming the NRZ for the slow movement …

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Gold extends rally

Gold futures yesterday looked likely to extend a rally that has returned prices to July levels, with a generally upbeat tone in place even with volatile stock markets quieted. Fresh weakness for a leading dollar index helped gold hold higher ground as December gold GCZ8, +0,32 percent  rose $2,90, or 0,2 …

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Rural women, agric in Zimbabwe

Danai Chirawu On  the 15th of October 2018, the world commemorated the International Day of the Rural Woman under the theme “sustainable infrastructure, services and social protection for gender equality and empowerment of rural women and girls.” It is important that along with all the other days which are set aside …

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