Presidential Inputs Scheme: Govt targets 1,8m households

Government is targeting 1, 8 million household for the Presidential Inputs Scheme for maize and sorghum and 400 000 for cotton in the 2018/ 19 agricultural season. Speaking at the official opening of the Mazowe Valley Agricultural Show in Bindura recently, Freda Rebecca Gold Mine general manager Eliakem Hove who …

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‘No job losses at Zimplats’

Enacy Mapakame Business Reporter The country’s biggest platinum producer, Zimplats Holdings Limited, has allayed fears of job losses at its Mhondoro–Ngezi operations after its parent company said it will slash jobs in its South African business. Last week, Impala Platinum Holdings Limited, indicated plans to cut 13 000 jobs in …

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NetOne suspends CEO

Golden Sibanda Senior Business Reporter State-owned mobile telecoms firm, NetOne’s board of directors, has suspended the company’s chief executive officer (CEO) Lazarus Muchenje with immediate effect over alleged gross misconduct relating to the manner he handled expired contracts for nine senior managers. Mr Muchenje’s alleged gross misconduct related to his …

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TRB projects massive jump in tobacco hectarage

THE Tobacco Research Board (TRB) says it anticipates a massive increase in tobacco hectarage this year as new farmers were now venturing into the production of the golden leaf. BY FREEMAN MAKOPA TRB general manager yesterday Dahlia Garwe told NewsDay yesterday that they had registered a sharp rise in demand …

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NetOne boss challenges Mandiwanzira

NEWLY-APPOINTED NetOne chief executive officer, Lazarus Muchenje, has petitioned the High Court challenging Information Communication Technology and Cyber Security minister, Supa Mandiwanzira’s directive compelling the parastatal to reinstate the nine executives whose contracts had expired. BY CHARLES LAITON Information and Communication Technology (ICT) minister Supa Mandiwanzira In his urgent chamber …

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Govt dissolves AirZim board

Government last week dissolved Air Zimbabwe management board and appointed Grant Thornton Chartered Accountants as caretaker administrators for the country’s airline, NewsDay has established. BY FIDELITY MHLANGA Transport and Infrastructural Development minister Joram Gumbo confirmed yesterday that the disbandment of the board and the appointment of a caretaker was meant …

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Investors cautious till election resolution

TRADING on the Zimbabwe Stock Exchange (ZSE) was down last week as investors were weighing their options and exercising extreme caution ahead of an announcement of the election results, trading data has indicated. BY TATIRA ZWINOIRA In IH Securities weekly round-up of the trading performance last week, the industrial index …

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PPC sales increase by 40%

REGIONAL cement manufacturer, Pretoria Portland Cement (PPC), says sales volumes at its Zimbabwean entity increased by over 40% from last year, despite the harsh trading environment. BY MTHANDAZO NYONI In its integrated report for the year ended March 31, 2018, PPC said revenue grew by 34% to R1 813 million …

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Old Mutual set to build low cost houses

OLD Mutual Group has unveiled plans to construct 3 000 low-cost houses in Bulawayo over the next three to four years to complement council efforts to reduce the city’s housing backlog currently pegged at more than 100 000. BY MTHANDAZO NYONI The group’s chief executive officer, Jonas Mushosho, recently told …

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Product dumping killing Zim industry

As local manufacturers struggle to raise foreign currency to import raw materials and equipment on one end, another uncontrolled delinquent flourishes on the other to their detriment. Cheap imports have flooded the Zimbabwean market and are knocking local products off the shelves. Product dumping has thrived in Zimbabwe since the …

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