IMF raises Zim growth forecast

The International Monetary Fund yesterday raised its 2018 Zimbabwe economic growth forecast to 3,6 percent from 2,4 percent it projected in April this year. This comes after the Government also revived upwards growth projection for this year, saying the economy is showing signs of recovery despite a number of challenges …

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Trade deficit now $1,6bn

ZIMBABWE’S trade deficit rose 28% to $1,6 billion over the period February to August 2018 from $1,25 billion recorded during the same period last year, further depleting the country’s precarious import cover, which has remained around two weeks since 2015. BY MTHANDAZO NYONI A majority of the country’s economic problems …

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RBZ defaulting on forex obligations: RioZim

RIOZIM says its operations are under threat from a critical shortage of foreign currency to sustain and grow its business and has blamed these challenges on failure by the Reserve Bank of Zimbabwe (RBZ) to pay the gold producer price in foreign currency, crippling its operations. BY FREEMAN MAKOPA Prior …

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Government urged to prioritise local contractors

The construction sector has urged government to engage local contractors in its major construction projects to avoid the drainage of foreign currency through foreign tenders, according to Zimbabwe Building Contractors Association (ZBCA) president, Ramson Nherera. BY STEPHEN CHADENGA Speaking on the sidelines of a ZBCA Midlands region business dinner held …

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NetOne board dissolved

Government has dissolved the NetOne board. BY TATIRA ZWINOIRA The decision came hardly two months after the suspension of chief executive officer Lazarus Muchenje, who also accused the board of breaching corporate governance principles. Muchenje is challenging his suspension and the case is being heard today. NetOne is one of …

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Drugs, health care now priced in US dollar

THE Association of Healthcare Funders of Zimbabwe (AHFoZ) says medical aid societies and pharmacies have started demanding payment in United States dollars, compromising health, quality of life and labour productivity. BY MTHANDAZO NYONI The association said it had received reports that some medical practitioners and hospitals had started demanding payment …

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Govt, business consult on Africawide FTA

GOVERNMENT has opened consultations with industry on rules of origin (RoO) for the ambitious African Continental Free Trade Area (AfCFTA) aimed at promoting duty-free flow of goods and services originating in the bloc. BY MTHANDAZO NYONI The consultations, which are being convened by the Ministry of Industry and Commerce, commenced …

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Know your role in veld fire management

Veld fires have become one of the greatest environmental challenges of our time, causing so much destruction to Zimbabwe’s natural resources, property and human life. In the past decade, 104 lives have been lost as a result of veld fires during the dry season. This environmental issue has also impacted …

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Local firm spreads tentacles

Business Reporter CUMII Technologies, an Econet Group internet of things (IoT) company that provides on-demand services, has expanded its continental footprint after launching its Business-to-Business Tasknites programme in Ethiopia recently. The organisation, which already has presence in Botswana, Rwanda, Malawi, Zambia, Burundi, Kenya, Tanzania and South Africa, provides low-cost research …

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