Direct procurement method explained

Section 33 of the Public Procurement and Disposal of Public Assets (PPDPA) Act defines direct procurement method as a method of procurement where a procuring entity procures its requirement from one bidder or supplier without having received bids from other bidders. The procurement method should be used only under exceptional …

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Efforts to raise wheat production pay off

Kudakwashe Mhundwa Business Reporter Government’s drive to increase wheat production has begun paying dividends with the country recording a 28,3 percent increase in yield per hectare output, statistics provided by the Reserve Bank of Zimbabwe in its Quarterly Economic Review have indicated. According to its 2018 fourth quarter report, the …

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Energy sector faces revamp

Fradreck Gorwe Business Reporter The energy sector is expected to experience some remarkable turnaround following President Mnangagwa’s swearing in of Hon Fortune Chasi as the new Minister of Energy and Power Development, taking over from Hon Joram Gumbo who has assumed new responsibilities as the Minister of State for Presidential …

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ZSE optimistic

Enacy Mapakame Business Reporter The Zimbabwe Stock Exchange (ZSE) is optimistic of bright prospects on its bourse in view of planned introduction of a wide range of new products and services in response to market needs. The local bourse currently has limited products on offer for investors but indications are …

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Oil prices fell

Oil prices fell yesterday after industry data showed an increase in US crude inventories and as Saudi Arabia pledged to keep markets balanced. However, analysts said oil markets remained tight amid supply cuts led by producer group Opec and as political tension escalates in the Middle East. Brent crude futures …

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Huawei woes widen as Asian carriers drop its handsets

Wireless operators in Asia have begun to drop Huawei mobile phones after the US put the Chinese telecom-gear giant on a blacklist blocking it from buying vital American components. NTT Docomo, Japan’s largest operator, said yesterday it stopped taking pre-orders for Huawei’s new P30 handset, while its rival KDDI said …

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Pound to euro rate plummets

The pound to euro exchange rate has plummeted to a five-month low just as Britons prepare to jet off for half term holidays. Despite gains made yesterday following optimism that a second Brexit referendum could be on its way, GBP soon slumped. The pound continues to react to Prime Minister …

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Low prices constrain tobacco deliveries

Tawanda Musarurwa and Kudakwashe Mhundwa Low prices have resulted in constrained delivery of tobacco to the auction floors as farmers apparently hold on to their crop in anticipation of an improvement in the price. Official figures from the Tobacco Industry Marketing Board (TIMB) show that farmers have to date sold …

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Livestock slaughters increase

Business Reporter Zimbabwe slaughtered an increased number of livestock for the year ended December 2018 compared to the previous year although performance became subdued towards the end of the year. According to a fourth quarter economic review released last week by the Reserve Bank of Zimbabwe (RBZ), the number of …

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‘DIDG, NRZ transaction ready by August’

Oliver Kazunga Senior Business Reporter The Diaspora Infrastructure Development Group (DIDG)/Transnet Consortium, which won the tender for the US$400 million National Railways of Zimbabwe (NRZ) recapitalisation project, has expressed optimism to conclude the transaction by August this year. Last week, Transport and Infrastructural Development Minister Joe Biggie Matiza told Parliament …

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