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Dubai firm to buy Meikles Hotel

Meikles Limited is set to dispose of its iconic Meikles Hotel in capital Harare for US$20 million to Dubai-based Albwardy Investments, NewsDay has established. The deal, which has been on the cards for years and suffered several setbacks, will unfold in two parts. Firstly, Albwardy Investments, through its wholly controlled …

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Delta Beverages resumes sales in RTGS dollars

BY MISHMA CHAKANYUKA DELTA Beverages has resumed sales in RTGS dollars, citing an improvement in the availability of foreign currency from the interbank market. The firm, which is the country’s largest manufacturer of beverages, requires between US$60 million and US$100 million in foreign currency per annum to import critical raw …

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‘Command agric abused by chefs’

The government only managed to recover US$50,2 million from the command agriculture facility for the 2016 to 2018 cropping season, Finance and Economic Development minister Mthuli Ncube has revealed. The government in 2016 launched a US$500 million command agricultural programme under which it intended to produce two million tonnes of …

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Bank sets up $12,5m youth facility

BY MTHANDAZO NYONI THE Empowerbank has to date processed applications amounting to about ZWL$42 000 to young people in Bulawayo under its $50 000 non-collateral loan package, an official has said. On March this year, during the official launch of its Bulawayo branch, the bank pledged a $50 000 non-collateral …

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Zimnat manages investment accounts separately

Zimnat Asset Management provides carefully constructed, individually customised and separately managed investment accounts. These discretionary and non-discretionary portfolios allow clients to define their own parameters for returns and liquidity based on their risk tolerance, cash flow needs and investment horizon. ZAM’s research team holds detailed discussions with prospective clients to …

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Rand slumps

South Africa’s rand slumped and bonds weakened yesterday after official data showed the economy contracted more sharply than expected in the first quarter. The rand was more than 1 percent weaker at 14,60 per dollar after the figures showing growth nosedived 3,2 percent in January-March compared with the previous three …

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Consumers happy with telecoms services

Enacy Mapakame Business Reporter Consumers of telecommunications and postal services in Zimbabwe are generally happy with service provision although there is room for improvement, a 2018 Consumer Satisfaction Survey Report shows. A research done by Topline Research Solutions (TRS) showed that all the consumer satisfaction indices (CSI) were above average …

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‘Delta pleased with forex availability’

Business Reporter Zimbabwe’s biggest beverages manufacturer Delta Corporation, says it has witnessed a marked improvement in the accessibility of foreign currency on the interbank market and is now “pleased to offer” some of its products that had been in limited supply recently. Just a month ago, the beverages giant had …

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AMA seeks to float US$50m agro bills

Kudakwashe Mhundwa Business Reporter The Agriculture Marketing Authority of Zimbabwe (AMA) is seeking approval to float US$50 million worth of agro bills for the purchase of maize from farmers in the 2019 marketing season. AMA was set up by Government primarily to promote agricultural production of strategic crops such as …

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DW shareholder optimistic

Martin Kadzere Senior Business Reporter DAVID Whitehead (DW)’s new major shareholder yesterday vowed to leave no stone unturned to ensure the textile firm, once listed on the Zimbabwe Stock Exchange, is resuscitated. Through his vehicle Agri Value Chain Zimbabwe (AVCZ), Praduman Kumar Ganeriwal acquired 51 percent stake in DW for …

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