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Business Reporter CALEDONIA Mining Corporation expects its gold production capacity in Zimbabwe from about 75 000 ounces to 250 000oz annually, after the mining group set its sights on becoming a multi-asset gold company in the country. With Blanket Mine currently the group’s current active major asset in Zimbabwe, Caledonia is confident it will reach […]
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Gold set another record above US$2 300 an ounce on the likelihood the Federal Reserve will cut interest rates this year, and sustained demand from central banks. Bullion touched a peak of US$2 304,96 an ounce before trading little changed as investors took comfort in Fed Chair Jerome Powell’s assurance on Wednesday that it will […]
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This mindset not only helps create wealth but also fosters emotional resilience amid market fluctuations. In today’s fast-paced financial landscape, where instant gratification often takes precedence, adopting a long-term investment mindset can be challenging. But, by cultivating the discipline to weather short-term market fluctuations, investors can tap into the power of compounding, allowing their investments […]
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Nigeria’s new mega-refinery will begin domestic gasoline deliveries in May, weaning Africa’s most populous country off costly petroleum imports. The facility built outside Lagos by Africa’s richest man, Aliko Dangote, dispatched its first petroleum products — diesel and aviation fuel — on Tuesday, Dangote Industries Executive Director Devakumar Edwin said in a text message, without […]
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Growth in digital wallet usage in SA’s biggest cities outpaces that of developed markets, latest research reveals. Digital wallets remove the risk of physical theft or loss. Image: Anthony Kwan/Bloomberg South African consumers have led the shift towards using digital wallets to pay for goods and services, according to the SpendTrend24 report compiled by Discovery […]
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In line with the Kenyan president’s plan for its national budget, Kenya has opted to lower its expenditure plan for the fiscal year beginning this July by 12 percent to Ksh3,7 trillion (US$28,35 billion). The president of the country, William Ruto noted that initiatives like this would help in balancing the country’s budget in the […]
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Tapiwanashe Mangwiro Senior Business Reporter FBC Holdings (FBC) before-tax profit for the full year to December 2023 jumped 255 percent to $403,5 billion, in a demonstration of resilience amidst challenging conditions. Group chairman, Herbert Nkala, emphasised the significance of the performance in light of the broader economic environment and the group’s strategic priorities. The growth […]
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Enacy mapakame Turnall Holdings Limited revenue for the full year to December 31, 2023 more than doubled to $84,2 billion compared to $40,3 billion achieved in the prior year, which was however not enough to carry the group into profitability territory. Group chairman Mr Grenville Hampshire said the 109 percent revenue growth was mainly due […]
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In our story titled ‘New premium golf course set for Harare’, published in The Herald Finance & Business section today, we erroneously referred to the acronym PGA as standing for Parental Guidance Advice when in fact this stands for Professional Golfers’ Association. We would like to apologise for any inconvenience this might have caused. Business […]
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In our story titled ‘New Premium Golf Course for Harare’, published in The Herald Finance & Business section today, we erroneously referred to the acronym PGA as standing for Parental Guidance Advice when in fact this stands for Professional Golfers’ Association. We would like to apologise for any inconvenience this might have caused. – Business […]
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Nelson Gahadza-Senior Business Reporter Dairibord Holdings (DZL) says its toll manufacturing project in South Africa is now at an advanced stage, as the group looks to improve its capacity to generate foreign currency from exports and mitigate local market-related challenges. Toll manufacturing entails outsourcing all the production or part of it to a third-party company, […]
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Nelson Gahadza Senior Business Reporter Dairibord Holdings (DZL) says its toll manufacturing project in South Africa is now at an advanced stage, as the group looks to improve its capacity to generate foreign currency from exports and mitigate local market-related challenges. Toll manufacturing entails outsourcing all the production or part of it to a third-party […]
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Business Reporter THE Government will soon introduce a structured currency, announced by President Mnangagwa when he addressed the first Cabinet meeting in February this year. Authorities believe it will bring an end to currency volatility (depreciation) responsible for driving inflation. Zimbabweans have unpleasant memories of the impact of inflation since the decade to 2008 when […]
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It seems like he’s been taking blow after blow — from a judge striking down his US$55 billion pay package in January to Tesla’s difficult first quarter. Musk’s golden child, Tesla, has been facing headwinds in recent months. On Tuesday, the electric-car maker’s first-quarter delivery numbers revealed a significant slump — well below Wall Street’s […]
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The International Monetary Fund concluded its visit to Ethiopia to discuss a request for IMF support on Tuesday without reaching an agreement, leaving the East African nation short of a commitment it made with its official international creditors. “The team made substantial progress towards establishing how the IMF could support the authorities’ economic program,” and […]