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Business Reporter The Mines and Mining Development ministry is calling for a ban on all riverbed mining except when a mining operation is in a joint venture agreement with the Government. The proposals are contained in the draft Mines and Minerals amendment Bill. The proposed ban on riverbed mining is likely to further dampen efforts by the […]
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Business Reporter The year-on-year inflation rate for the month of February 2016, as measured by the all items Consumer Price Index (CPI), stood at -2,22 percent, shedding 0,03 percentage points on the January 2016 rate of -2,19 percent weighed down by low aggregate demand and the continued weakness of the South African rand.
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Tinashe Makichi : Business Reporter Local construction consortium, Homeseekers Incorporation has struck a partnership deal with South Africa’s leading engineering and construction firm, Polymer Pavements for the supply of latest and low cost road construction technology in Zimbabwe. Polymer manufactures and develops environmentally friendly smart materials for road construction, dust control, barrier liners and spray on geo […]
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Business Reporter The year 2016 is likely going to be the worst cotton marketing season since the global financial crisis in 2008 in light of the subdued global prices of cotton lint.The cotton Number 2 contract is currently trading at 57,42c per pound of lint on the New York Futures market, down from 66c per […]
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The Environmental Management Agency (EMA) said yesterday it had reduced Environmental Impact Assessment (EIA) fees from 1,5 percent of project cost in an effort to improve the ease of doing business in Zimbabwe. In a statement, EMA said charges would now be based on a “sliding scale” with small impact projects paying a fee of $210, […]
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Government rejected a proposal by the country’s mobile telecommunication companies to regulate the use of over the top services (OTTs) such as WhatsApp which they say are eating into their profits, a cabinet minister has revealed. Zimbabwe’s mobile networks have in the past generated the bulk of their revenues from provision of calling and messaging services […]
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Business Reporter Reserve Bank of Zimbabwe Governor Dr John Mangudya says companies should continue to innovate to support the drive to a cashless society. Dr Mangudya told guests at the launch of Zuva petroleum fuel card and coupon last week that the use of plastic cards was critical in restoring confidence in the banking sector.
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Tinashe Makichi : Business Reporter In a bid to minimise speculative holders of mining grants, proposed amendments to the Mines and Minerals Act state that an exclusive exploration licence shall not be issued for more than three years. “Most mining grants have been held for speculative purposes for some time now and the new Mines and Minerals […]
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Innscor is set to move a biscuits and snacks manufacturer to the National Foods set up to complete the reconfiguration of the group into a light manufacturing company. Well-placed sources said the group will add the snacks business to Natfoods although they were already involved in the business. The company; Breathaway Food Caterers makes Zapnax snacks […]
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Business Reporter Starafrica Corporation has sold Bluestar Logistics to a local private company for $1,5 million. The purchase price comprised a deposit of $200 000 with the balance being paid in equal instalments over a period of 13 months, Starafrica said in a statement yesterday. Bluestar’s profitability was negatively affected by low business volumes from Goldstar Sugar […]
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Postal and courier services firm Zimpost says its money transfer service, Zipcash is now available in Lesotho with effect from this month. Launched in 2013, Zipcash is an electronic version of the old money order system and allows Zimbabweans to send cash locally and internationally through any Post Office.In an update, Zimpost said plans were also […]
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Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for life. Teach him fish farming and he is empowered even more. He can feed his family and sell surplus fish to provide for the family in other ways too. Cage culture in Karoi A project started two years […]
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Happiness Zengeni and Tinashe Makichi The Reserve Bank of Zimbabwe through various stakeholders is aiming to increase the level of access to formal financial services within the country to 90 percent from 69 percent while improving the proportion of financially included small business to 80 percent by 2020.
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Jeffrey Gogo Climate Story THE Victoria Falls receives over one million visitors each year, but the large quantity of waste left behind is beginning to kill the wildlife they come to see. Eight elephants have died so far this year from eating too much plastic waste at the Victoria Falls dumpsite, according to Environment Africa, a […]
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The World Bank approved that management of the International Finance Corporation proceed to prepare a new investment programme for private sector projects in Zimbabwe.