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Business Reporter ZIMBABWE’S economy is projected to grow by 5,3 percent this year, better than initial estimates, on the back of improved farm yields, better electricity supply, and strong mineral prices, according to the Ministry of Finance and Economic Development. The revised economic growth is ahead of estimates by the International Monetary Fund (IMF), the […]
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Nigeria’s official currency exchange rate is once again widening a gap with the parallel-market rate, shrugging off a brief convergence spurred by central bank actions. The naira closed at 743 per dollar on the platform accepted as the official rate by the central bank on Tuesday, according to data compiled by Bloomberg. That’s about 11 […]
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Oliver Kazunga Senior Business Reporter THE Agricultural and Rural Development Authority (ARDA) is embarking on a joint venture farming programme targeting to put at least 50 000 hectares under crop in phase one of the planned initiative, starting with the 2022/23 summer cropping season. Presently, the authority is undergoing transformation to spearhead rural development and […]
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Farirai Machivenyika Senior Reporter ZIMBABWE’s manufacturing sector continues to grow on the back of sound Government policies with indications that 38 percent of companies in the sector managed to expand their operations in 2021. This is contained in a recent survey by the Zimbabwe Coalition on Debt and Development (ZIMCODD) titled, “NDS1 Abridged Civil Society […]
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World Bank President David Malpass this week met a delegation of the Africa Vaccine Acquisition Task Team (AVATT), led by African Union (AU) Special Envoy Strive Masiyiwa, to discuss the multibillion dollar financing of vaccines for African countries.
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Zimbabwe will get US$7 million from the World Bank to fight the coronavirus pandemic despite being in arrears with the Washington-based lender. The lender will mobilise US$5 million from its Global Financing Facility Trust Fund to support the nation’s health response to the outbreak and redirect about US$2 million from its ongoing Zimbabwe Idai Recovery […]
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Happiness Zengeni in Davos, Switzerland— Finance and Economic Planning Minister Patrick Chinamasa is optimistic Zimbabwe will meet its 4,5 percent economic growth projections for 2018, with a possibility of breaching the 6 percent mark. The bullish economic outlook, Minister Chinamasa said, was anchored on policy and economic reforms spearhead by President Mnangagwa since he took […]
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From Happiness Zengeni in DAVOS, Switzerland— President Mnangagwa yesterday held high-level meetings with top officials from the world’s top multilateral financial institutions on the sidelines of the 48th World Economic Forum (WEF) as he continued with his drive to re-engage with the international community. He met top officials from the
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Elita Chikwati and Fidelis Munyoro Government and stakeholders in the agriculture industry have scoffed at remarks by World Bank (WB) country representative Mr Johannes Herderschee in which he described Command Agriculture as ineffective and a waste of money.
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LUSAKA. – The World Bank has set aside $600 million for Zambia to invest in agriculture, energy, rural roads and budget support over the next three years.
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Business Reporter THE World Bank, which projects a 2,8 percent growth rate for Zimbabwe, says the fiscal imbalance besetting the country could affect medium-term economic growth by limiting resources available for structural reforms.
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Business Reporters THE Infrastructure Development Bank of Zimbabwe says it is looking at partnering international development finance institutions to meet the $250 million desired capitalisation target by end of next year, but this will largely depend on the ongoing re-engagement between the Government and the international community.
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ZIMBABWE’s concessionary borrowing has declined to below 10 percent as compared to the period 2006-2009 where concessionary debt levels were 30 percent of total country’s external debt. Speaking at the launch of the United Nations Conference Trade and Development Economic Development in Africa Report 2016, Debt Dynamics and Development Finance in Africa, Africa Capacity Building foundation […]
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