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Business Reporter Industry and Commerce Minister Mike Bimha is in South Africa where he is meeting with his counterpart Rob Davies to discuss bilateral trade matters. This is a routine meeting between the countries and is a follow up to a technical meeting that was held by officials of the two countries a fortnight ago.
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Golden Sibanda : Senior Business Reporter THE Zimbabwe Investment Authority has allayed fears about the possibility of Nigerian billionaire Aliko Dangote aborting planned multi-million dollar investments in Zimbabwe. This comes as the Department of Immigration refuted claims by a local weekly publication that Dangote’s aides had been denied entry visas into Zimbabwe to assess progress of planned […]
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Tinashe Makichi : Motoring Correspondent Born out of the will to deliver reliable, cost effect and a client focused personal touch, Titan Garages has roared to life. Situated at number 381 Limpopo Way, Willowvale (behind Savanna Tobacco) Titan has provided a breath of fresh air in the industrial areas. Defying all economic hardships and market trends the company has […]
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Business Reporter CHINESE firm, Xu Construction Machinery Group, has put on hold delivery of gold mining equipment under a $100 million credit facility from China Import and Export Bank, as it battles to recover money for equipment supplied to Chiadzwa diamond firms. But the Government has provided guarantees and only payment of freight and insurance is […]
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The Reserve Bank of Zimbabwe (RBZ) says it is targeting to boost the number of Point-of-Sale (POS) machines in the country by 50 percent by year-end. Zimbabwe currently has 20 000 POS machines in operation, but these have shown to be inadequate due to the prevailing cash challenges. According to the director for national payments at the […]
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African fintech is not disrupting the existing financial service providers. This is because, in many areas of the continent, there is nothing to disrupt. Across most of the continent, there is no formal banking or financial infrastructure in rural areas, due to the high cost of rolling out banking infrastructure.
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DAR-ES-SALAM. – Standard Chartered Bank has announced plans to step up investment and leverage its unique footprint and international banking expertise to drive growth in Africa. Through a new brand campaign, “Here for Africa”, the bank is reiterating its commitment to invest in Africa’s future and continuing to support key growth sectors across local economies, including […]
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JOHANNESBURG. – Standard Bank – trading as Stanbic Bank – has been formally awarded a banking licence in Côte d’Ivoire. The group opened a Representative Office in December 2013, signalling a drive towards establishing a presence in Francophone West Africa, and is now gearing up to commence banking operations in a market which stands out for […]
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Business Reporter NMBZ shareholders FMO of the Netherlands and Norfund of Norway have joined forces with Rabobank of the Netherlands to pool their investments in financial institutions across Africa. The new company formed out of the partnership will be called Arise. Arise will have a presence in 20 African countries and capital will be allocated to support […]
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Christopher Charamba : Business Reporter Turkish Ambassador Kadir Hidayet Eris has said a deal to bring Turkish Airlines to Zimbabwe is imminent. In an interview with The Herald Business recently, Ambassador Eris said that the airline should begin operating by the end of the year or early next year. “I have been working to bring Turkish Airlines […]
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Melody Mashaire : Business Reporter Production at Innscor Africa’s pie manufacturing division at Bakers Inn, will increase to 180 000 units per day from 60 000 pies following the commissioning of a new $8 million pie-making factory. Bakers Inn has also launched a new range of pie flavours which will sell for 25c each. Speaking during the product […]
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Business Reporter The value of transactions processed through the National Payment System increased 6 percent to $6,48 billion in May from $6,13 billion registered in April. According to the Reserve Bank of Zimbabwe monthly report for May, the value of cash transactions increased 3 percent to $729,25 million from $703,28 million in part due to the […]
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Martin Kadzere : Senior Business Reporter AUREX Holdings, which recently commissioned a diamond cutting and polishing plant, has entered into a toll manufacturing arrangement with Zimbabwe Consolidated Diamond Mining Company to add value to the latter’s gems. Toll manufacturing is an arrangement where a company provides its raw materials or semi-finished goods to a third-party service provider […]
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Business Reporter Mobile telecommunications network Telecel Zimbabwe has opened 15 additional franchise stores in Zimbabwe, as part of its retail footprint expansion initiative, which is meant to meet growing customer service needs. The mobile company said that the retail expansion initiative, which begun last year with thirteen shops, has now added fifteen more shops across the […]
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“No industry has been affected more permanently and positively by the Internet than Public Relations”. This is one assessment made by Internet PR guru — Don Middleberg (2001) — on the emergence of the Internet and new media. Mr Middleberg further said that “ . . . the internet is an environment of dialogue, not monologue.