Business

Risk perception trumps orthodoxy as inflation soars in Zim

JOHANNESBURG — Zimbabwe’s Finance Minister Mthuli Ncube seems to be doing everything by the book as he pursues orthodox economic policy often prescribed by the global “Bretton Woods” lending institutions to try and turn around a sickly economy. Reuters The government is running a budget surplus for the first time …

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Zim’s social protection lack co-ordination, under-financed

ZIMBABWE’S social protection interventions lack coordination and are generally under-financed as a result of the poor performance of the economy, a new report has shown. BY TATIRA ZWINOIRA A report titled: Action Research on Social Protection in Post-Independence Zimbabwe 1980-2019 prepared by Labour and Economic Development Research Institute of Zimbabwe, …

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Govt to break Bureau Veritas monopoly on imports inspection

GOVERNMENT is inviting more companies to enter the imports testing; inspection and certification space and break the monopoly of Bureau Veritas (BV), the NewsDay Business has established. BY FIDELITY MHLANGA Authorities in 2015 signed a four-year contract with the French-based company to offer pre-shipment inspection services of imports to avert …

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Zimbabwe’s climate change department a beacon of hope

The US$10 million grant secured by the Climate Change Management Department from the Green Climate Fund (GCF) two weeks ago may be the biggest funding obtained by the young Government unit yet, towards climate change adaptation in parts of Zimbabwe. The funding is for a project called “Integrated Climate Risk …

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Fao, Agric Ministry hosts bio-fortification forum

Michael Tome Business ReporterFOOD and Agriculture Organisation (FAO) in collaboration with Ministry of Lands, Agriculture, Water, Climate will next month host a bio fortification awareness forum that is aimed at promoting nutrition sensitive agriculture and alleviation micro-nutrient malnutrition. The event which will run under the theme “scaling up the fight …

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Meikles requires US$30m to facelift its Harare hotel

Meikles Limited said on Friday it  requires at least US$30 million to modernise its prime Harare hotel,  which the group is in the process of selling to a Dubai based company. The Competition and Tariff Commission recently approved sale of the five-star Meikles Hotel to a firm called Albwardy Investment. …

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Meikles in sound performance

Fradreck GorweOne of the leading retail and hotel groups in Zimbabwe, Meikles Limited, posted financial positives across segments for the year ended March 31, 2019. Profit for the year went up to $66 million compared to a measly $8,2 million in 2018.  This is after revenue grew to $791,6 million …

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RBZ gives nod for lithium shares sale

Golden Sibanda Senior Business ReporterAUSTRALIA Stock Exchange (ASX) listed Prospect Resources Plc has received exchange control approval to increase its ownership of Zimbabwe’s brightest lithium development project, Arcadia, by 17 percentage points to a controlling 87 percent. The Australian lithium developer said conclusion of the transaction will enable the company …

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Govt officials grab gold milling centres

BY Nkululeko Sibanda Government officials and politicians have allegedly grabbed gold milling centres set up by the Reserve Bank of Zimbabwe (RBZ) and have turned them into private operations, it has emerged. Zimbabwe Miners Federation (ZMF) president, Henrietta Rushwaya told delegates at the third Women in Mining (WIM) 2019 conference …

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Water conservation: Time to up the game

Water is a very important resource giving life to humans, plants and animals. Water is quite a strategic resource that is also at the centre of socio-economic activities that include agriculture, health, energy, manufacturing, tourism, transport and construction among others. However, it must be appreciated that water is a finite …

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