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Kenya has defied a global funding drought for budding companies to post a 17 percent increase in new start-up investments, toppling Nigeria and Egypt as the continent’s largest destination for start-up financing.
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Zimbabwe’s once-thriving cotton industry is facing its worst season in years, with production likely to plummet due to the devastating effect of the El Niño-induced drought.
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The Democratic Republic of Congo (DRC) has surpassed Peru as the world’s second-largest copper producer. A recent report shows that the DRC’s production of copper in 2023 surpassed that of Peru, which prior was the world’s largest copper producer, second only to Chile. DRC is one of Africa’s richest mineral producers, with substantial reliance on its copper trade.
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South Africa’s first-quarter consumer confidence improved on the back of an uptick in the confidence levels of high-income households, suggesting retail sales volumes could gradually start to recover, according to a survey released yesterday.
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Fidelis Munyoro CABS is being accused of contempt of court for allegedly defying a legal instruction to release US$45 000 held as exhibit on behalf of the court when an account was frozen at the start of a criminal trial. The bank now says it can only exchange United States dollars equivalent in local currency […]
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Raymond Jaravaza IN an impressive feat of environmental rehabilitation and green energy transformation ingenuity, a local mining company has turned a decades old waste dump site that was an environmental ticking time bomb threatening the lives of humans and livestock into a solar farm that feeds electricity into a whole gold mining entity in Bubi […]
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Nelson Gahadza Senior Business Reporter National Foods volumes for the interim period to December 31, 2023, grew by 3,4 percent to 285 000 tonnes from the comparative period, largely driven by growth from the Stockfeeds. The flour division also contributed to growth, though to a limited extent. Mr Edwin Manikai, the group’s chairman, said in a […]
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Martin Kadzere The effects of El Niño drought are tightening their grip on Zimbabwe’s rural communities, forcing desperate farmers to sell off their prized livestock – primarily goats and cattle– to abattoirs, butcheries and middlemen at heavily discounted prices. El Niño, a phenomenon, characterised by unusually warm ocean temperatures in the Pacific, disrupts rainfall patterns […]
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Enacy Mapakame INVESTMENT and capital market experts have called for enhanced orientation of women and girls in the financial disciplines to boost their awareness as part of the broader vision of improving capital markets literacy from the current 2 percent to 5 percent by 2026. This is also expected to eventually result in their emancipation. […]
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Uganda National Oil Company (Unoc) has started selling petroleum products to oil marketing firms in Tanzania and Uganda as it tests the market ahead of rolling out a direct import deal with Vitol Bahrain. Officials of oil companies who spoke to this publication say that Unoc has offered products to their subsidiaries in the two […]
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In 2023, Nigeria received the highest payments from Shell in the form of production entitlements, royalties, taxes, and fees to the government, amounting to $4,92 billion, the highest figure recorded in four years. In 2023, Nigeria received the highest payments from Shell in the form of production entitlements, royalties, taxes, and fees to the government. […]
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Investec has set aside funds to pay for possible compensation and other costs linked to its auto finance business in the UK as regulators continue with an industrywide probe into whether such loans were sold in a way that treated customers fairly. The South African lender will provide an exact amount for the provision when […]
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China’s CSI 300 Index fell as much as 1,6 percent, on pace for its largest daily drop since January, and the Hang Seng Tech Index slid around 4 percent. Australian and Korean shares also declined. Japanese stocks rose. A gauge of the region’s shares had touched the highest level in almost two years in the […]
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Senior managers of Metallon Corporation’s Mazowe gold mine have filed a new application for corporate rescue with the High Court, about three years after a previous bankruptcy protection order was overturned by a higher court.
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National trade promotion body, ZimTrade, along with the trade and investment promotion bodies in Zimbabwe and Zambia recently signed a tripartite memorandum of understanding (MoU) to promote economic ties and enhance cooperation.