By Staff Reporter THE price of mealie meal could shoot up again as early as this Thursday following Finance Minister Mthuli Ncube’s failure to disburse grain subsidies he announced this past week. According to a leaked letter written to Ncube by Grain Millers Association of Zimbabwe (GMAZ) chairperson, the failure by government to avail promised
By Staff Reporter ROLLER meal prices have come down following a recent government move to reintroduce grain subsidies to try and make the staple affordable to the poor majority. This was announced Sunday by the Grain Millers Association of Zimbabwe (GMAZ) which requested wholesalers and retailers to approach its units for revised invoices from past
By Thandiwe Garusa ZIMBABWEAN millers have welcomed government’s decision to restore grain subsidies with their umbrella group, Grain Millers Association of Zimbabwe (GMAZ) saying the move would ensure a “win-win” situation for both the cereal processors and ordinary consumers. Reacting to the development Thursday, GMAZ chair Tafadzwa Musarara hailed the move. “Grain Millers welcomes the
By Robert Tapfumaneyi MEALIE meal prices are set to come down after government Thursday announced new subsidy on maize meal in what will see the retail price of a 10kg packet of roller meal pegged at $50. This was announced in a statement by Finance Minister Mthuli Ncube Thursday morning. In his statement, Ncube said
Diamond.net The Zimbabwe Consolidated Diamond Company (ZCDC) intends to hold 11 international sales in 2020, the news agency cited the miner’s acting CEO, Rob De Pretto, as saying. Its tenders are currently in Harare, the country’s capital, but the location does not appeal to clients, the report continued. “We are exploring opportunities and new markets
By Alois Vinga THE Zimbabwe Stock Exchange (ZSE) loss trajectory has persisted resulting in a decline in the all share and top 10 indices, 11 % and 16% respectively, the latest Reserve Bank of Zimbabwe (RBZ) monthly economic review has indicated. The report, which covers the period ending August 2019, observes the losses are coming
By Alois Vinga MINERAL production in Zimbabwe will decline to around minus 40 % by year end owing to a host of challenges confronting the mining sector, the State of the Mining Industry 2019 survey reports. The report, released recently and compiled by the Chamber of Mines, established that key minerals were expected to record
By Staff Reporter HARD-PRESSED Zimbabweans can brace for fresh bread price increases after government cereal stocker, Grain Marketing Board (GMB) has increased the price of wheat to millers by 67%. Grain Millers Association of Zimbabwe, media and public relations manager Garikai Chaunza has admitted the increase was too exorbitant. Because of the margin, Chaunza said,
By Staff Reporter GRAIN Millers Association of Zimbabwe (GMAZ) chairman, Tafadzwa Musarara is set to take advantage of a regional conference he is set to attend this week to lure some foreign business people to consider Zimbabwe’s milling industry as a possible investment area. This is after the millers boss has been invited to be
By Alois Vinga CASH-in transactions grew by 108.1% while Cash-out transactions stood at 68 % in the second quarter of 2019, a sector performance report released Friday by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has said. The report suggests the existence of cash cartels at a time authorities early this week reversed
By Alois Vinga GOVERNMENT has tabled a plan to establish gold centres which will provide technical and financial assistance to Artisanal Small Scale Miners (ASM). The move is aimed at improving efficiency and total gold output. Addressing a business breakfast forum on Thursday, Mines and Mining Development Minister, Winston Chitando said the initiative sought to
By Alois Vinga THE Reserve Bank of Zimbabwe (RBZ) on Friday announced that US$799 million has been traded on the Interbank Foreign Exchange Market following the continuous implementation of policies aimed towards improving ease of trade. In its Monetary Policy Statement released Friday, RBZ governor John Mangudya said the market’s inception was aimed at diluting
By Alois Vinga LOCAL financial institutions have gone out of their way to reduce the value of non-performing loans as the economy continues to sneeze. National Merchant Bank board chairman, Benedict Chikwanha said that his bank is winning the war against non-performing loans (NPLs). “The bank has continued with its drive to reduce NPLs which
Mining.com The Zimbabwean reports Angloplat, the world’s number one producer said it was optimistic about coming to an agreement with the Zimbabwean government over its Unki mine and Aquarius Platinum’s record quarter was thanks to the performance of its Mimosa mine in Zimbabwe amid continuing talks. The government of Zimbabwe, the country with the largest
By Alois Vinga RECEIPTS from Zimbabwe’s top foreign currency earners tobacco and gold have plummeted, a local trade watcher has said. Inter-Horizon Securities (IH Securities), in a survey, said gold has gone down 20% while tobacco earnings have plummeted 35%. The survey, titled “The Zimbabwe Consumer Sector; Austerity for Prosperity”, says the agricultural sector, which
By Alois Vinga EXPORTERS have bemoaned the numerous licencing and associated fees required by government departments in Zimbabwe saying they remain a barrier to the ease of doing business. Speaking to NewZimbabwe.com Business this week, Zimbabwe National Chamber of Commerce president Tamuka Macheka said that his organisation was deeply concerned about the existence of different
By Alois Vinga CASSAVA Smartech’s subsidiary, Ecocash is enjoying almost 100% dominance of mobile money transactions and continues to maintain a lead ahead of other service providers. The Postal Telecommunications Regulatory Authority’s report entitled Consumer Satisfaction Report observes that Ecocash platform is conducting almost 99% of the total money transfer services. The stats prove that
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
By Alois Vinga THE Reserve Bank of Zimbabwe (RBZ) says almost US$9 million was traded by individuals and Non-Governmental Organisations (NGOs) on the interbank market in five consecutive days last week. The development could come as a sign government’s controversial move to abandon the multi-currency regime for the local dollar was bearing fruit. Addressing guests
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
