RBZ ban hits Golix

Jeffrey Gogo Herald Business Correspondent Harare digital money exchange Golix.com has suspended plans to raise $35,8 million through an Initial Coin Offering (ICO) until further notice, after the Reserve Bank of Zimbabwe (RBZ) effectively shut the door on the trade of cryptocurrencies in the country. The ICO, Zimbabwe’s first, was due to …

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Fuel, booze, airtime boost Zimra excise duty

Fuel, beer and airtime were the largest contributors to excise duty collections for the month of April, as the Zimbabwe Revenue Authority (Zimra) surpassed its overall collection targets for the month. By Freeman Makopa Zimra, however, failed to meet its targets in excise duty collections for the month, collecting $65 …

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Zimbabwe’s trade deficit widens

ZIMBABWE’S trade deficit from February to April 2018 skyrocketed by 69% to $860,3 million as the Southern African country battles to correct trade imbalances, latest trade data from the national statistics agency shows. BY MTHANDAZO NYONI In the same period last year, the trade deficit was $510 million. Figures for …

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Beitbridge explores new investment models to woo capital

THE Beitbridge municipality has lined up new investment models in a bid to lure investors into the town following its status upgrade recently. BY MTHANDAZO NYONI Government recently upgraded Beitbridge Town Council to municipal status following the border town’s rapid growth in recent years and its strategic location. Speaking during …

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Nation building: How to counter negative perceptions

By MUSEKIWA CLINTON TAPERA It involves examining the crisis and the place where the crisis occurred and singling out the target audience for whom the place aims to alter the image. Secondly, marketers define the campaigns’ goals and the timing of launching the campaign. Thirdly, it involves the choice of …

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IMF warns global economic growth will slow by 2020

Good times in the global economy will not last, the IMF warned last Tuesday as it predicted that a slowdown was likely to be accompanied by trade wars. In a sombre World Economic Outlook, its twice-yearly economic forecast, the fund highlighted the “jarring” contradiction between broad-based growth momentum and a …

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Scramble for Zamco-rescued firms

There is a flurry of investors angling for shareholding in companies whose debts were taken over by the Zimbabwe Asset Management Company (Zamco), a special purpose vehicle created by the Reserve Bank of Zimbabwe to rescue debt ridden local entities and to hive off non-performing loans that were threatening the …

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Extreme events like 1992 drought to fall — study

If the rise in global temperatures is limited to 1.5 degrees Celsius in this Century – the more ambitious target under the Paris Climate Agreement – deadly extreme climate events like heatwaves, tropical cyclones or drought will decline markedly in Zimbabwe and across Africa, a new study suggests. The study …

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New airline to fly into Zim

Zambia’s leading airline, Proflight Zambia, is set to introduce flights between Harare and Lusaka during the first week of July. Civil Aviation Authority of Zimbabwe public relations and communications manager Mrs Anna Hungwe, said the airline will be flying into Harare four times a week. “The airline will be flying …

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Govt committed to cotton farming

Government says it is committed to reviving the cotton sector, which had been negatively affected by high production costs and low prices. Lands, Agriculture and Rural Resettlement Deputy Minister Davis Marapira, said this in Glendale, Mazowe District, last week while officially launching new cotton hybrid seeds produced by Quton Seed …

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