-
Enacy Mapakame THE Government is set to benefit from proceeds of oil and gas deposits discovered by Australian Stock Exchange (ASX) listed Invictus Energy at its Mukuyu fields in northern Zimbabwe. This comes as the company said it was finalising the long-awaited Petroleum Production Share Agreement (PPSA) with the Government, which sets the legislative and […]
-
Business Reporter Pensioners who anticipated compensation for pre-2009 inflation-eroded retirement savings will need to wait a while longer after the Insurance and Pensions Commission rejected submitted compensation schemes from pension funds due to non-compliance. Out of a projected 1 395 applications, only 1 249 compensation schemes were submitted by pension funds, IPEC, which regulates the […]
-
South Africa is facing a monumental challenge as it seeks to end years of rolling electricity outages that have hobbled the economy: It needs to build and fund a R390 billion expansion of the national grid so it can connect more power plants. The transmission system is owned, managed and maintained by Eskom, which supplies […]
-
Enacy Mapakame Listed brick making firm, Willdale Limited is converting its land banks into residential developments as part of a capital raise for acquisition of machinery to enhance production at its brick manufacturing plants. In a circular to shareholders, Willdale indicated it had approximately 165,6 hectares in Mt Hampden, an area that is fast developing […]
-
-
The European Investment Bank is seeking climate-related investments in Africa, the bank’s Vice-President Thomas Ostros said. “It is very important to focus on viable long-term investments that have a chance to give a boost to economic growth,” he said in a Bloomberg TV interview with Jennifer Zabasajja on Wednesday. The development bank is currently working […]
-
Business Reporter Zimbabwe’s milk output rose by 17 percent to 9,52 million litres in January 2024 from 8,14 million litres in the comparative period last year as investments made by the sector contribute to production. Latest figures from the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development’s Dairy Services Department show that the country’s milk […]
-
Martin Kadzere Proplastics is lobbying for the scrapping of the 15 percent value-added tax on polyvinyl chloride and high-density polyethylene pipes to level the playing field for local producers facing uneven competition from duty-free imported pipes, particularly those used in irrigation systems. Alternatively, a complete ban on the import of the pipes has been proposed […]
-
South Africa will license about 60 cryptocurrency platforms by the end of the month, putting it among the first nations on the continent to require digital-asset exchanges to have permits to operate. The Financial Sector Conduct Authority, which gave exchanges until November 30 to apply for licenses or risk facing enforcement action, said more than […]
-
-
Insurer Old Mutual claims it was always going to pay out the pension of a particular client whose daughter took to social media to complain about the company’s inaction. Old Mutual public affairs manager Celiwe Ross said there is, however, legislation that all insurance companies need to adhere to before a claim can be settled. […]
-
Public Enterprises Minister Pravin Gordhan announced on Wednesday afternoon that the sale of a 51 percent stake in South African Airways (SAA) to the Takatso Consortium has been cancelled. This comes almost three years after the consortium was announced as the preferred bidder to acquire the airline for R51 – implying a total valuation of […]
-
Oliver Kazunga Senior Business Reporter THE Zambezi River Authority (ZRA) has set the average electricity generation for Kariba Power Station at 214 megawatts (MW), until the end of the quarter to March 2024, due to limited water in Kariba Dam, which might experience its lowest level on record this year. Reduced output at Kariba, one […]
-
Zimbabwe warned that farmland planted with maize has shrunk by 12 percent because of scorching El Niño weather patterns, threatening the nation’s food staple. “Panic purchases and grain hoarding by households and traders are expected, which will deplete the grain earlier than expected, even in areas with surplus production,” the Ministry of Lands, Agriculture, Fisheries, […]
-
-
Elita Chikwati Features Editor Government is working on increasing processing and value addition of tobacco from 2 percent to more than 30 percent to increase earnings from the golden leaf. The country has been exporting 98 percent of tobacco in raw form and thus exporting jobs and value. Addressing farmers at the official opening of […]
-
It took just 13 words about Pick n Pay at the end of Hyprop’s trading statement for the first six months of the year and the wholly unexpected move by the retail-focused real estate investment trust (Reit) to withhold an interim dividend to wake the market up to just how big the risks around Pick […]
-
Enacy Mapakame US-based Zimbabwean youths have launched a non-profit organisation known as Annot Inc, dedicated to fostering collaboration between young people and entrepreneurs in the United States and Africa. The initiative seeks to capitalise on the youth demographic by empowering young people and entrepreneurs around the world to exchange ideas, collaborate and access capital to […]