Markets

Markets

Zim mobile tariffs now lowest in the region, threatening viability

TechnoMag Zimbabwe mobile tariffs compared to the SADC region and other African countries have become insanely too low and no longer make business sense, a survey has revealed. In a survey done by TechnoMag, Zimbabwe is currently charging tops of 22cents rtgs per minute which when converted against the bank rate, amounts to $0.024 USD

Mines Minister Winston Chitando

Arab and Africa Mining Conference delegates urged to consider Zim opportunities

By Alois Vinga THE Arab and Africa Mining Conference (AAMC) has ended on a high note with Zimbabwe’s mining sector opportunities coupled with the ongoing deeper economic reforms aimed at stabilising the economy taking centre stage. Speaking to potential investors at the conference Wednesday, Zimbabwe’s diplomatic envoy to the United Kingdom, Christian Katsande said basing

Henrietta Rushwaya

High costs force indigenous miners to lease chrome mines to Chinese

By Alois Vinga THE Zimbabwe Miners Federation (ZMF) says the indigenous miners are leasing the controlling stake of their mines to foreigners because they do not have adequate resources to keep in business while some are selling the mineral to illegal buyers who offer hard currency, among other challenges confronting the sector. Speaking to NewZimbabwe.com

Sifelani Jabangwe

Private sector says not ready for African Continental Free Area

By Alois Vinga THE private sector in Zimbabwe has admitted that local manufacturers are not yet ready to join the African Continental Free Trade Area (AFCFTA) due to serious economic challenges and policy inconsistencies obtaining back home. Speaking at the national forum on the AFCFTA Wednesday, former Confederation of Zimbabwe Industries (CZI) president, Sifelani Jabangwe

Potraz director general Gift Machengete

POTRAZ considering data tariff hikes in line with new interbank rates

By Alois Vinga THE Postal and Telecommunications Regulatory Authority (POTRAZ), has hinted that a data tariff hike could be on the way in order to cushion telecommunication companies from the increasing exchange rate on the Interbank market. In an interview with NewZimbabwe.com Business recently, POTRAZ director general, Gift Machengete admitted that mobile telephone operating companies

ZCTU president Peter Mutasa

TNF launched 20 years later amid visible tensions

By Alois Vinga REPRESENTATIVES from labour, business and government Wednesday successfully launched a legislated Tripartite Negotiation Forum (TNF) which facilitate dialogue towards national development after almost 20 years since the idea was birthed under a heavy cloud of policy and ideological discord. The TNF will be the country’s social dialogue platform to negotiate legislated key

Buy Zimbabwe urges inclusive research on expenditure patterns

By Alois Vinga BUY Zimbabwe (BZ) chief executive, Munyaradzi Hwengwere has urged government and other key stakeholders to conduct detailed research which will reveal the amount of money going towards purchasing locally manufactured products. Speaking at a function held to discuss issues affecting the uptake of locally manufactured products recently, Hwengwere underscored the need to

Zim’s refined platinum production up 1 percent

By Alois Vinga ZIMBABWE’s refined platinum production went up 1 percent in the first quarter of 2019, the World Investment Platinum Council (WIPC) 2019’s first quarter report has revealed. According to the council, supply of refined production went up 1 percent in the first quarter of 2019 up from minus 3 percent recorded in 2017.

ZSE pardons listed firms for failure to comply with IAS standards

By Alois Vinga THE Zimbabwe Stock Exchange (ZSE) has pardoned all listed companies which did not comply with the requirements of International Accounting Standard (IAS) during presentation of its latest financial results. ZSE appreciated the failure was triggered by government’s policies and was beyond their control. The equities market chief executive, Justin Bgoni announced recently

Tourism Minister Priscah Mupfumira

Zimbabwe targets Chinese tourism market

By Audience Mutema ZIMBABWE has set its sights towards tapping into the Chinese tourism market after opening a dedicated office in the Asian economic behemoth. The office manned by the Zimbabwe Tourism Authority was officially opened by Tourism Minister Priscah Mupfumira during a recent visit. Aimed at facilitating the growth of the sector, Mupfumira signed

Minister Mangaliso Ndlovu

ZITF 2019 ends on a high

Bulawayo Correspondent The 60th edition of the Zimbabwe International Trade Fair (ZITF) ended in Bulawayo on Saturday with preliminary survey results indicating that 90 percent of the exhibitors established new business links during the five-day business showcase. Addressing journalists on Saturday, Industry and Commerce Minister, Mangaliso Ndlovu said in terms of quality products and attendance,

Standing FMI Business Development Executive Patrick Muzondo and Ernst & Young UK director Hopewell Mauwa seated

Chance for Zim to woo Middle East investments into mining

By Staff Reporter INVESTMENT group, Emergent Capital Management, through its events management arm, Financial Markets Indaba (FMI) will host a mining investment conference positioning Zimbabwe as an investment destination of choice in the UK from June 25-26. While for years the group has hosted conferences focusing on Africa, Europe and the North America, this year’s

ZITF opens with Harare firms dominating annual showcase

By Business Reporter The 60th edition of the Zimbabwe International Trade Fair (ZITF) opens in Bulawayo this Tuesday with Harare firms dominating the country’s premier business exhibition. This was revealed by ZITF Company board chairperson Ruth Ncube while briefing journalists in Bulawayo Monday. A record-breaking subscription at 532 direct local exhibitors and 16 countries are

Minister Mthuli Ncube

Ncube promises to resolve tobacco farmers’ grievances

By Anna Chibamu FINANCE Minister Mthuli Ncube has pledged his immediate attention to concerns raised by tobacco farmers who are stranded at most of the tobacco auction floors in Harare due to non-payment of their produce. Ncube told NewZimbabwe.com on the sidelines of the country’s main independence day celebrations at the National Sports Stadium Thursday