ZESA to cut off businesses

BUSINESSES, including miners and manufacturers, who owe money for electricity risk being cut off by Zimbabwe’s power distributor after the lapse of a six months grace period to settle their bills. The Zimbabwe Electricity Transmission and Distribution Company, is struggling to recover about $1 billion owed by companies, farmers and …

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It’s about quality, not quantity in 2018

Compared to the 21 new listings in 2017, 2018 has yielded sparse options for anyone looking for new investment opportunities on the JSE. There was only one company listing in the first quarter – the secondary listing, in March, of Kore Potash. With Hosken Passenger Logistics and Rail being the …

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Farm workers demand 100% salary hike

THE Progressive Agriculture and Allied Industries Workers’ Union of Zimbabwe (Paawuz) has asked the government to increase the minimum wage for farm workers by at least 100% to $150 per month, saying the current payments were peanuts. BY MTHANDAZO NYONI Paawuz general secretary, Raymond Sixpence told NewsDay that the least …

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CSC recapitalisation deal edges close

THE Cold Storage Company (CSC) recapitalisation deal is expected to be finalised early next month, Lands, Agriculture and Rural Resettlement deputy minister, Davis Marapira has said. BY MTHANDAZO NYONI Marapira told NewsDay that the recapitalisation deal, which has attracted “more than six” partners, was almost done. “We have engaged some …

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Zim imports grain despite command agric ‘success’

ZIMBABWE is still importing grain despite claims by the government that it had stopped doing so in February last year following a bumper harvest from the command agriculture programme. BY MTHANDAZO NYONI The government, in February last year, said it had stopped issuing grain import permits and that no maize …

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Padenga on course to meet targets

Business Reporter Crocodile skin producer, Padenga Holdings Limited’s harvest year to date has amounted to 7 493 skins as the firm remains upbeat of meeting its targeted volumes and quality for the export market. The group targets 46 000 skins for this current financial year with an average belly width …

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Why do pointless jobs exist?

Johannesburg. – These nuggets are strewn through David Graeber’s Pointless Jobs (Not real name), a provocative, funny and engaging book that claims the world has been engulfed by a rising tide of pointless work. This is a curious charge to hear at a time of rising anxiety about keeping one’s …

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Benchmarking critical for firms’ success: OPC

Tawanda Musarurwa Senior Business Reporter Zimbabwean public and private sector companies and organisations should focus on benchmarking as a strategy to achieve internationally-recognised successes. Benchmarking is a process of measuring the performance of a company’s products, services, or processes against those of another business considered to be the best in …

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Oil prices drop

LONDON. — Oil eased yesterday after a rise in US crude inventory added to signs demand may be slowing in spite of ongoing output cuts by producer group OPEC and imminent US sanctions against Iran. Brent crude futures were last down 65 cents at $77,78 a barrel by 1147 GMT, …

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Gold steadies

LONDON. — Gold steadied yesterday after a surge in the dollar and US bond yields in the previous session had pushed prices down 1.7 percent to their lowest this year. Tuesday’s fall was the biggest since November 2016. Gold crashed below its technically important 200-day moving average and the psychologically …

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