Business

BENGALURU. — Gold prices edged down yesterday as the dollar hit a more-than-one-week high on the back of intensifying global trade tensions and economic worries in emerging markets. The yellow metal is down about 8 percent this year amid rising US interest rates, trade disputes and the Turkish currency crisis, …

Read More »

NMB Bank net profit surges, broadens target market

NMB BANK says it will broaden its target market to the “mass market, previously not catered for” by the institution and help boost financial inclusion in the country. BY FIDELITY MHLANGA In line with that strategy, the lender also revealed plans to “accelerate” the roll-out of POS machines and enhance …

Read More »

TelOne acts on cable thefts

STATE-OWNED telecoms operator, TelOne, has stepped up efforts to curb increased network vandalism and copper cable thefts by installing security alarms on the copper cable infrastructure. BY MTHANDAZO NYONI Of late, TelOne has been a victim of increased network vandalism and copper cable thefts. Since January, at least 33 cases …

Read More »

Seed cotton output, lint exports to surge

THE Association of Cotton Value Adders of Zimbabwe (ACVAZ), a grouping of all stakeholders involved in the cotton value chain, is bullish about national seed cotton output this year, which would in turn push cotton lint production upwards. BY FREEMAN MAKOPA The body expects seed cotton production to more than …

Read More »

Seed Co wins big at agric show

Business Reporter LEADING seed producer, Seed Co, shone like a beacon at the just-ended Harare Agricultural Show after bagging the Best Exhibitor award in the agricultural sector, and the Best Exhibitor Overall. Seed Co, whose focus is on ensuring food security in the country and beyond, has won several such …

Read More »

ED, Khama to grace CZI congress

Leonard Ncube in Victoria Falls PRESIDENT Mnangagwa and former Botswana President Ian Khama will be among the high profile speakers at this year’s Confederation of Zimbabwe Industries (CZI) congress and International Investment Forum to be held in Bulawayo later this month. The forum will be held at a Bulawayo hotel …

Read More »

IDBZ acquires property, land worth $7,3m

Golden Sibanda Senior Property Reporter THE Infrastructure Development Bank of Zimbabwe (IDBZ) says it has acquired land and properties worth $7,3 million for the development of already identified future infrastructure projects. The State-owned infrastructure development bank said this comes after it received approval for budget allocation of $10 million to …

Read More »

Zesa’s $20m transformers burden

Africa Moyo Senior Business Reporter NATIONAL power utility, ZESA Holdings, requires a staggering $20 million to replace over 4 000 transformers that were either vandalised or stolen across the country. Government says thieves are stealing at least three transformers per night, making it practically impossible for ZESA to replace all …

Read More »

Govt to recalculate interest on RBZ debt

Ishemunyoro Chingwere Business Reporter GOVERNMENT will enlist the services of a consultant to recalculate interest on debts it contracted before 2013 with a view to identifying instances where it overpaid and enforce recovery of such amounts. The Ministry of Finance and Economic Development has since tendered for expression of interest …

Read More »

Belt and Road Initiative critical for Zim — ED

Tawanda Musarurwa in Beijing, CHINA The Belt and Road Initiative (BRI) will contribute to genuine, all-encompassing globalisation and help Zimbabwe in particular to achieve its goal for middle-income status by 2030, President Mnangagwa has said. The President said this in the Chinese capital, Beijing, where he is attending the 2018 …

Read More »