National Foods forecasts better prospects

DIVERSIFIED conglomerate, National Foods Limited, has forecast better economic fortunes for its business on the back of the new political dispensation ushered in November last year and confirmed at this year’s general elections. In its results for the year ending June 30, 2018, and signed off by the group’s chairman …

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Govt moves to stabilise prices

Government has started working on a cocktail of measures to ensure stabilisation of prices of essential commodities and their availability, an official said yesterday. Early this month, Government set up a technical committee co-chaired by the National Competiveness Committee (NCC), the Ministry of Industry and Commerce and the Reserve Bank …

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Strict measures needed to protect tobacco exports

Government should introduce stiff penalties for tobacco growers who are non-compliant to set rules and regulations if it is to stop the spread of diseases that could potentially affect the country’s tobacco exports. This was revealed at a workshop held by the Tobacco Research Board yesterday which was running under …

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Archer Clothing reports drop in orders

BULAWAYO textile giant, Archer Clothing Manufacturers, says it is struggling to process orders owing to a shortage of foreign currency for importation of inputs, machinery and equipment. BY MTHANDAZO NYONI Jeremy Youmans The company escaped liquidation in 2015 after creditors approved its takeover by Harare-based Paramount Garments, but never regained …

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Hotelier RTG returns to profitability

Rainbow Tourism Group (RTG) is optimistic of achieving sustainable growth after recovering from a loss-making position in the first half of the year. BY TATIRA ZWINOIRA The hotel management company, which trades its stock on the Zimbabwe Stock Exchange, says group performance to the end of the year would be …

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Govt calls for sustainability in tobacco production

Government yesterday urged tobacco farmers to adopt practices that enhance the sustainability of tobacco production and exports through a greater regulatory compliance. BY FREEMAN MAKOPA Tobacco is Zimbabwe’s second largest foreign currency earner after gold and accounts for about 50% of gross domestic product. The industry’s value chain remains one …

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BCC sees SME mainstreaming as engine of growth

THE Bulawayo City Council (BCC) has pledged to formulate policies aimed at promoting the growth of small-to-medium-scale enterprises (SMEs), as part of its strategy to revive the city’s economy. BY MTHANDAZO NYONI The council sees SMEs as the backbone of the city’s economy. Mayor Solomon Mguni made these remarks in …

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PPC boss tackles key economic issues

ONE of the country’s largest cement producers, Pretoria Portland Cement (PPC) Zimbabwe, says the liquidity constraints being experienced in the country have resulted in payments for offshore goods and services becoming delayed and difficult to make. NewsDay (ND) business reporter Mthandazo Nyoni speaks with PPC Zimbabwe managing director Kelibone Masiyane …

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IMF highlights Zim’s reform priorities

AN International Monetary Fund (IMF) team of tax experts has completed a diagnostic assessment of the Zimbabwe Revenue Authority (Zimra)’s tax administration and pointed out areas where reform is required to bring it in line with international best practice. BY FIDELITY MHLANGA Senior economist in Revenue Administration and Fiscal Affairs …

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UK firm penetrates Zim cross-border payments market

ZymPay, a cross border payments company based in the United Kingdom (UK), has developed a real time cross-border payments service to exploit lucrative opportunities in Zimbabwe’s vibrant cross-border payments market. BY TATIRA ZWINOIRA Diaspora remittances are Zimbabwe’s second largest source of foreign currency, contributing about $1 billion annually, according to …

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