Getbucks profit jumps 25% in H1

GetBucks, a deposit-taking microfinance institution listed on the Zimbabwe Exchange, has reported a 25% growth in profit after tax in the first six months of the year, buoyed by a reduction in operating expenses and better repayment collection efforts. BY FIDELITY MHLANGA During the financial year ended June 2018, Getbucks …

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ZimTrade conference focuses on linkages, export growth

ZimTrade, the country’s trade development and promotion organization, today hosts its annual exporters’ conference and awards dinner in Harare, which focuses on building linkages and partnerships to grow exports. BY MTHANDAZO NYONI The State-owned institution has hosted the exporters’ conference and awards since 2012 as a platform to link exporters, …

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Govt okays POSB equity offering

THE People’s Own Savings Bank (POSB) will now be going public or be partially privatised through a private placement after government, the sole shareholder, approved a plan to carry out either of the transactions in a government gazette. BY TATIRA ZWINOIRA The savings bank has received the green light to …

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‘Underground operations viable at Tungsten Mine’

Tawanda Musarurwa Senior Business Reporter Zimbabwe-focused diversified mining group Premier African Minerals, says a study from consultant Bara has confirmed that its 49 percent-owned RHA Tungsten Mine in the country has shown that it would be technically viable to restart underground  mining. The RHA Tungsten project is located in an …

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Sub-Saharan Africa’s growth slower, says World Bank

Business Reporter The World Bank says the Sub-Saharan African economies are still recovering from the slowdown in 2015-16 although the growth is slower than expected. In its bi-annual analysis of the state of African economies, the October 2018 issue of Africa’s Pulse, the World Bank indicated that the average growth …

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Cement sector has excess capacity: Lafarge

Oliver Kazunga Bulawayo Bureau ZIMBABWE’S cement industry has excess capacity to meet the 1,3 million tonnes annual domestic demand as the sector has an installed capacity of 2,4 million tonnes, an official has said. Last month the market experienced cement shortage, which the country’s largest cement producer, PPC Zimbabwe, attributed …

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Oil slips

  LONDON. — Oil slipped yesterday, retreating from session peaks near a four-year high as top exporter Saudi Arabia said it increased output and after Reuters reported that Russia and Saudi Arabia had struck a deal to pump more. “Saudi is still very timid, the market wants to see something …

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Voluntary disclosure in respect of Customs and Excise offences

The Voluntary Disclosure Programme is running between July 2018 and December 2018 and Zimra has already recorded a number of varying offences. It is against this backdrop that the Authority is encouraging individuals who have either knowingly or unwittingly committed or omitted acts that are against the provisions of the …

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‘Dispose of non-performing parastatals’

Natasha Chamba Bulawayo Bureau GOVERNMENT should trim its costs by disposing of non-performing state-owned enterprises and engaging competent private sector players to run them, an economic expert has said. Contributing during the recent Confederation of Zimbabwe Industries (CZI) annual congress and international investment indaba in Bulawayo, University of Zimbabwe economics …

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Body to expedite artisanal miners registration

Ishemunyoro Chingwere The Zimbabwe Miners Federation’s Special General Council has directed its leadership to expedite the nationwide registration of artisanal and small-scale miners to properly position them to benefit from Government and private sector mechanisation efforts. ZMF is the umbrella body representing small-scale and artisanal miners who, according to Mines …

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