Business

Business

ICT Minister Jenfan Muswere

Zim’s Voice Network Traffic Declines By 28%

By Alois Vinga TOTAL fixed voice traffic registered a 28 % decline as corporate companies adopted data-based communications that have seen most work being done from home; the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has reported. According to POTRAZ’s second quarter of 2020 report, the huge decline was also prompted by the Covid-19

Your guide to investing in Forex in 2020

Forex traders speculate on currency exchange rates. It is a thrilling yet risky way to earn money. Here is how to access the largest financial market. Guide on How to Invest in Forex 2020 In South Africa today, Forex investment is booming. Brokers provide remote access to the largest financial market. Traders monetize knowledge as

ZESA Hikes Tariffs By 50%

By Alois Vinga ZIMBABWE Electricity Supply Authority (ZESA) has increased electricity tariffs by 50% with effect from September 23, 2020, a move that will see a rise in most prices, especially basic commodities. In a statement Thursday, a ZESA subsidiary, the Zimbabwe Electricity and Distribution Company (ZETDC) announced the new tariffs are in line with

Mark Mabhudhu

Vast Director Mabhudhu Appointed CEO Of State-Owned ZCDC

Mining Weekly AIM-LISTED gold, diamonds, and poly metals miner Vast Resources reports that its executive director Mark Mabhudhu has received and accepted an offer to join the government-owned Zimbabwe Consolidated Diamond Company (ZCDC) as CEO, starting immediately. Mabhudhu’s acceptance of the offer followed a period of consultation with both Vast and the relevant government officials,

Nyasha Chizu

PRAZ Board Says CEO’s Forced Leave Procedural

By Anna Chibamu THE Procurement Regulatory Authority of Zimbabwe (PRAZ) board Tuesday dismissed allegations by its chief executive (CEO) Nyasha Chizu that he had been forced by his bosses to go on unsanctioned leave. Giving oral evidence before the parliamentary Finance and Budget Portfolio Committee, PRAZ board chairperson Vimbai Nyemba said the authority unanimously agreed

Topics For Microsoft AZ-303 Exam Preparation That You Can Master with Practice Tests

Introduction IT giants like Microsoft set realistic goals that candidates for certifications should reach. Commonly, these goals are in the form of topics which they have to study. At the end of the day, applicants will be tested on the stipulated objectives to check the extent of their knowledge. So, this post specifies various domains

Zim Dollar Firms By 21 Cents Against US$

By Alois Vinga THE Zimbabwe dollar firmed by $0.21 cents as it strengthened against the United States dollar amid sustained stability. It closed Tuesday’s Reserve Bank of Zimbabwe (RBZ) foreign exchange auction at $81.49 from the previous week’s $81.70. This marks a record three times since the local currency first gained against the US dollar when it

BAT Suffers $116.4m Foreign Exchange Loss

By Alois Vinga BAT Zimbabwe recorded a loss amounting to $116.4 million prompted by the devaluation of the local currency against the US dollar amid a sales volume decline attributed to lack of disposable incomes and the Covid-19 lockdown impact. Presenting financial results for the half-year ended June 30 2020, the company’s acting finance director,

Mark Zuckerberg

Facebook reinforces its presence in Africa

Africa News American Social Media giant Facebook has announced the company is willing to open a new office in Lagos Nigeria in the coming year. In what will be its second office on the African continent after its Johannesburg bureau in South Africa, the Lagos division will host teams specialised in engineering, sales, politics and

Agriculture minister Anxious Masuka

AMA granted permission to issue mbanje trade permits

By Alois Vinga GOVERNMENT has authorised the Agricultural Marketing Authority (AMA) to issue three specialised trade permits which will legalise cannabis trade related activities in Zimbabwe. Zimbabwe legalised the production of cannabis (mbanje or dagga) for medicinal or scientific purposes in April 2018 through a notice published under Statutory Instrument 62 of 2018 (Dangerous Drugs

TSL expects much lower than anticipated tobacco output

By Alois Vinga ZIMBABWE Stock Exchange (ZSE) listed industrial holdings group, Tobacco Sales Limited (TSL) says earlier tobacco output for this year will be much lower than the earlier anticipated projections. Last year, a total 258 million kgs were realised in the entire selling season and earlier projections at the back of a later start

Zim mining rights watchdog says more firms mining secretly in game parks

By Leopold Munhende THE Centre for Natural Resource Governance (CNRG) has established more companies including state run Zimbabwe Consolidated Diamond Company (ZCDC) were awarded claims to conduct mining operations in game parks. In a statement to commend government’s decision to cancel all mining claims in National Parks, CNRG said it hoped the remaining secret titles

Finance Minister Mthuli Ncube

Govt in talks with banks to support new stock exchange

Bloomberg Zimbabwean authorities are in discussions with several international investment banks to support a new stock exchange that will trade exclusively in foreign currency, Finance Minister Mthuli Ncube said. “The interest has been huge,” Ncube told an analyst briefing. He declined to give further details. Yvonne Mhango, sub-Saharan Africa economist at Renaissance Capital, told the

Air Zimbabwe resumes domestic and regional flights

By Ndatenda Njanike AIR ZIMBABWE has announced its resumption of both domestic and regional flights starting 23 September and 3 October, respectively. Due to restricted movements caused by the Covid-19 pandemic, the air transporter ceased its operations as per government order in March this year. However, on Wednesday, the company released a statement announcing the

Topics for Microsoft AZ-303 Exam Preparation That You Can Master with Practice Tests

Introduction IT giants like Microsoft set realistic goals that candidates for certifications should reach. Commonly, these goals are in the form of topics which they have to study. At the end of the day, applicants will be tested on the stipulated objectives to check the extent of their knowledge. So, this post specifies various domains

CSC sites now varsities as govt struggles to re-capitalise beef parastatal

By Anna Chibamu MOST of the Cold Storage Commission (CSC)’s abattoirs dotted around the country have been converted to universities as government struggles to resuscitate the once thriving and country’s largest beef company. During debate in parliament recently, legislators grilled the newly appointed agriculture minister Anxious Masuka over the state of the parastatal as most

First Mutual Life seeks shareholder approval ahead of restructuring exercise

By Alois Vinga FIRST Mutual Holdings Limited (FMHL) is seeking shareholder approval for a restructuring exercise of the decades old insurance concern in a move which will see the two main units placed under a Botswana based holding company. FMHL currently has two wholly owned reinsurance businesses, namely, First Mutual Reinsurance Company Limited (FMRE Zimbabwe)

How to have nine lives...Sydney Gata

Mnangagwa reinstates Sydney Gata as ZESA boss

By Staff Reporter SYDNEY Gata has bounced back as Zimbabwe Electricity Supply Authority (Zesa) executive chairman after President Emmerson Mnangagwa lifted his suspension and that of his board following corruption allegations against them. In a statement Tuesday, Chief Secretary to the President and Cabinet Misheck Sibanda said Mnangagwa exercised the decision after the Zimbabwe Anti-Corruption