Zim, India ink $2,9m SMEs grant

Africa Moyo and Ishemunyoro Chingwere ZIMBABWE and India yesterday signed a memorandum of understanding (MoU) for a $2,92 million grant for the supply of additional machinery for small and medium enterprises (SMEs) under the Indo – Zimbabwe project. The Indo-Zimbabwe project, which was established in 2006, has previously received a …

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Tobacco exports rake in $360m

Livingstone Marufu Business Reporter ZIMBABWE has earned over $360 million from tobacco exports in the first four and half months of this year, latest official statistics show. For their toil, farmers pocketed the lion’s share of the proceeds at $236,3 million while exporters (merchants) received $123,9 million. Over the same …

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Splash brings Mochachos to Zim

SOUTH African fast food franchise Mochachos officially launched in the Zimbabwe yesterday operating under the Splash Group. Splash acquired the franchise for local operations last year. BY TATIRA ZWINOIRA Speaking to NewsDay at the launch of Mochachos fast food outlet yesterday in Harare, Mochachos Zimbabwe manager Faizel Ahmed said Splash …

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Zim companies clinch $500 000 deals at Zambia fair

ZIMBABWEAN companies clinched deals worth over $500 000 at the Agritech Expo held in Chisamba, Zambia recently, the country’s trade promotion body, ZimTrade has said. Agritech is an international agricultural value chain expo held annually. BY MTHANDAZO NYONI The Zimbabwean products on show under the ZimTrade banner included, fertilisers, animal …

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Dairibord milks benefits of revamp

DAIRIBORD Zimbabwe Limited (DZL) says it is in the “initial phase of realising the benefits of restructuring” and is looking forward to expand to countries like the Democratic Republic of Congo, Namibia, Swaziland and Tanzania. BY MTHANDAZO NYONI The milk processor, which recorded an operating loss of $3,9 million in …

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Econet bags global, national awards

Econet Wireless Zimbabwe has demonstrated its stellar organisational capabilities by bagging top global and national awards for outstanding human capital development. The company was recently awarded the top SMI (Success Motivation International) World Client of the Year prize in the US, in recognition of its immense investment in employee development …

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Bird halts Kenyan flight

KENYAN Airways was on Monday forced to halt its evening flight from Harare to Nairobi after its plane suffered a bird strike. BY TATIRA ZWINOIRA A bird strike occurs when it hits the engine of the aircraft and is not uncommon in aviation. A bird strike is considered a safety …

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As Zim eyes ‘green’ funding

Business Reporter Zimbabwe is seeking accreditation with the Global Climate Fund to enable it to float ‘green bonds’ as it looks towards developing debt instruments to finance climate friendly projects. “We are going through the accreditation process,” Infrastructure Development Bank of Zimbabwe chief executive Thomas Sakhala told The Herald Business …

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IDBZ to invest $10m in land acquisition

Golden Sibanda Senior Business Reporter The Infrastructure Development Bank of Zimbabwe (IDBZ), has obtained board approval to spend $10 million to acquire land across the country for its tertiary colleges accommodation and housing projects. Chief executive Thomas Zondo Sakala, told The Herald Business in an interview yesterday that the State-owned …

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Dangers of defaulting on loan obligations

The challenges of loan defaults are not unique to Zimbabwe, but affect a great number of developing and transitional economies. The resolution of the problems caused by loan defaults should be dealt with at national level, because ultimately, the entire economy bears the impact of non-performing loans held by the …

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