AfDB, FAO target $100m investment in Africa

The African Development Bank  (AfDB) and the United Nations Food and Agricultural Organisation (FAO)  said yesterday they have joined hands to mobilise $100 million over the  next five years to be invested in various agricultural projects in  Africa. “Specifically, the new strategic alliance seeks to enhance the quality  and impact …

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Zimnat provides micro finance

Zimnat prides itself on being a provider of simple yet very necessary solutions to its clients. For instance, we believe that one of our client’s biggest values is education so we set out to ensure this need is met. It is no secret that a good education has the power …

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Cabinet okays Zesa re-bundling

Africa Moyo Cabinet has approved the re-bundling of Zesa Holdings as part of measures to arrest the high cost of running the business, and potentially result in the power tariff coming down or remaining at the current average rate of USc9,86 per kilowatt hour. This was said by the Permanent …

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Rand edges lower

JOHANNESBURG. — South Africa’s rand edged lower in early trade on Tuesday, giving back the previous session’s gains as traders booked profits with an eye on offshore events. At 0645 GMT the rand was 0.21 percent weaker at 14,1825 per dollar, having rallied to 14,1100 during New York trade after …

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Gold hits high

LONDON. — Gold prices are firmer and scored a two-week high in early U.S. trading yesterday. A weaker US dollar index on this day is a bullish element for the precious metals markets. However, with little risk aversion among traders and investors at present, the upside for the safe-haven metals …

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Govt commends Sino-Zim Cement

Patrick Chitumba Midlands Bureau Chief Government has commended Sino-Zimbabwe Cement Company (SZCC) for its investment in the Midlands province and contribution to economic growth in the country. The International Organisation for Standardisation (ISO) on Friday, officially granted quality certification to Gweru-based cement manufacturing company during a colourful ceremony. ISO certification …

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Yuan hits 4-week high as China signals support

SHANGHAI. – China’s yuan finished yesterday afternoon trade at a near 4-week high to the dollar after the central bank revived a “counter-cyclical factor” in its daily fixing to support the currency, halting a record 10-week slide that rattled global markets and irritated Washington. The announcement was seen as the …

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Railway lines underused

Maputo. — The Limpopo railway line from  Zimbabwe to the port of Maputo is seriously underused as Zimbabwean  exporters are not sending enough traffic down the line, a Mozambican  port official has said. Mozambique port and rail company (CFM) chairperson Miguel Matabel said  the Zimbabwean inefficiency meant that the Limpopo line could …

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‘Engineers must lead charge to close infrastructure gaps’

Golden Sibanda Property Reporter ENGINEERS should take strategic leadership positions in the quest to resolve Zimbabwe’s gaping infrastructure deficit after resolving leadership issues at Government level through the harmonised elections held on July 30, Zimbabwe Institution of Engineer (ZIE) chairman Jacob Kudzayi Mutisi has said. Eng Mutisi said it was …

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FBC posts 13pc profit growth

Property Reporter FBC Building Society reported a 13 percent growth in total income for the six months ended June 30, 2018 driven largely by growth in net fee and commission income. Total income for the period amounted to $9,2 million up from $8,1 million prior year comparative. The Building Society …

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