Markets

Markets

Finance Minister Mthuli Ncube

Govt Seeks To List Biggest Mining Company

Bloomberg ZIMBABWE, banking on mining to end two decades of economic stagnation, plans to list the company in which it has placed state mining assets to raise cash to meet government obligations, the nation’s finance minister said. Late last year, the government created Kuvimba Mining House Ltd., in which the state pension fund and sovereign

First Mutual Properties Sets Aside $7.3 Million Dividend Pay-out

By Alois Vinga ZIMBABWE Stock Exchange listed property concern, First Mutual Properties (FMP) has set aside $7.3 million quarterly dividend pay-out indicating the company’s bullish performance despite the obtaining economic challenges. Several local companies are in dire straits owing to the difficult economic operating environment which has been further weakened by the impact deadly Covid-19.

BYD Zimbabwe Starts Delivering EVs To Customers

Clean Technica THE transition to electro-mobility is happening a lot faster than a lot of people think. The EV scene in Europe is red hot right now after an awesome 2020. The UK’s plugin electric vehicle market hit new highs in December 2020, at 23.4% market share, up from 6.6% in December 2019. The Tesla

ZimTrade Urges Garlic Farmers To Focus On Increasing Exports

FreshPlaza.com ZIMBABWEAN garlic farmers have been urged to increase exports riding on the growth of the global market which has expanded to US$2,48 billion in the past two decades, from US$500 million. The national trade development and promotion organisation, ZimTrade, said the number of local smallholder farmers with potential to export has been growing exponentially

Gold Deliveries Tumble Nearly A Third To 19 Tonnes In 2020

Reuters HARARE: Gold sales to Zimbabwe’s sole buyer and exporter of bullion Fidelity Printers and Refiners (FPR) fell 31% to 19 t last year after lower deliveries from small-scale miners, official data showed on Monday. FPR pays US dollars in cash to small-scale gold miners, but a shortage of hard cash caused delays in payments most of

Nhimbe Fresh Struggles With Blueberry Exports To China

FreshPlaza.com NHIMBE Fresh Produce is Zimbabwe’s leading horticultural firm. Despite all its efforts, it is still struggling to navigate the web of bureaucracy to get an import protocol to export blueberries to China. According to chief executive Edwin Moyo, the import protocol would pave the way for China to do quality checks before the commodity

Denford Mutashu

Retailers Demand Tough Police Action Against Illegal Traders

By Alois Vinga THE Confederation of Zimbabwe Retailers (CZR) has implored the police to be tougher on illegal traders who continue with their operations in violation of government’s Covid-19 restrictions. Some unregistered retailers have resorted to selling their wares from mobile trucks and commuter omnibuses. Tuckshop and bar owners in some high density suburbs in

The new Parliament Building under construction in Darwendale

Construction Sector Bemoans Awarding Multi-Million Dollar Contracts To Foreigners

By Alois Vinga CONSTRUCTION Industry Federation of Zimbabwe (CIFOZ) has bemoaned the awarding by the government of multi-million US dollar national infrastructure projects to foreign companies at the expense of local contractors. The government has in recent years awarded major infrastructure projects such as the US$500 million Kariba South Power Station and the expansion of

GMAZ Acting General Manager Garikai Chaunza

GMAZ Deployed Enough Food Stocks To Meet Festive Season Demand – Acting GM

By Staff Reporter THE Grain Millers Association of Zimbabwe (GMAZ) has assured local consumers of enough stocks of its products during the current festive period. In a statement Friday, GMAZ Acting General Manager Garikai Chaunza said products manufactured by companies under the cereal producers’ group were readily available on the market. “The Grain Millers Association

Finance Minister Mthuli Ncube

Mthuli Ncube Launches Agricultural Commodities Exchange

Xinhua THE Zimbabwean government on Monday launched the agricultural commodities exchange that will ensure farmers get market determined prices for their commodities. Zimbabwe previously had a commodity exchange which was closed when the government gave the monopoly to buy and sell maize and wheat to state grain procurer, the Grain Marketing Board (GMB) in 2001.

Denford Mutashu

ZIMRA, Retailers Lock Horns Over Backdated Tax On Rice

By Alois Vinga THE Zimbabwe Revenue Authority (ZIMRA) and retailers have locked horns over the former’s intention to collect value added tax (VAT) on rice for periods dating back to 2017, a move the retailers have described as illegal. Ministry of finance Secretary George Guvamatanga has instructed the taxman to proceed with the collections after

ZESA Approves Payment Of Bills In U.S. Dollars

Bloomberg ZIMBABWE’S cash-strapped utility Zesa Holding Ltd. allowing people to pay their bills in foreign currency as it struggles to fund the nation’s power imports. Zesa said in an emailed statement on Sunday that the decision would bring consumers more “convenience.” Previously, only miners and exporters were allowed to pay for power supplies in U.S.

Eco-Tourism Boost In Sengwe As 15 000 Landmines Are Cleared

By Robert Tapfumaneyi A BELGIAN non-governmental organisation (NGO) APOPO is this month set to begin clearing anti-personnel landmines along the Cordon Sanitaire minefield that affects the Sengwe Wildlife Corridor in Masvingo province. APOPO trains African giant pouched rats to save lives by detecting landmines and tuberculosis. The company’s goal is to clear the assigned area by

Mobile Internet, Data Traffic Up By 43%

By Alois Vinga THE Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) third quarter report reveals mobile internet and data traffic rose 43 % amid significant increases in voice traffic. The report acknowledges the positive growth projecting the sector will keep growing due to the reliance on the internet for business purposes. “Mobile internet and