Markets

Markets

Govt Grants UK-Based Premier Exclusive Prospecting For Lithium In Fort Rixon

Creamer Media AIM-LISTED Premier African Minerals has been granted an exclusive prospecting order (EPO) over an area that encompasses the Zulu lithium and tantalum claims in the Fort Rixon district of Zimbabwe for a period of three years. “I am deeply appreciative of the Zimbabwe government for the granting of this substantial EPO and Premier will reciprocate

Harare Rentals Shoot Up As Bogus Estate Agents Rip-Off Tenants

By Staff Reporter A LEADING investment company director has said houses for rental in urban areas, especially Harare are now very expensive to lease and this will adversely affect economic growth and stability. Noel Mavura, the founder of an investment firm, African Investment Hub, in a statement Friday, urged the Estate Agents Council of Zimbabwe

Tobacco Farmers’ Group Praises Govt Increasing Forex Retention

By Staff Reporter THE Tobacco Farmers Union of Zimbabwe (ToFUZ) has hailed authorities for agreeing to increase the foreign currency retention cap from 50% to 60 % ahead of the 2021 tobacco selling season. Also among the measures introduced by the Reserve Bank of Zimbabwe and the Agriculture ministry, there shall be no compulsory liquidation

Adopt Foliar Fertiliser To Boost Output, Agritex Urges Farmers

By James Muonwa, Mashonaland West Correspondent BOTH commercial and subsistence farmers can enhance agricultural output on farms in the wake of new technologies at their disposal to boost productivity and profitability, an agriculture expert has said. Agricultural Technical Extension Services (Agritex) acting director, Stancilae Tapererwa said there was need for farmers to adapt to emerging

RBZ governor John Mangudya

RBZ Auction Bid Rates Remain Within Stable Margins

By Alois Vinga RESERVE Bank of Zimbabwe (RBZ) foreign exchange auction bidding rates being offered by traders this week continued to navigate within stable margins as total allotments to industry reached US$37 million. A trading update released at the close of business Tuesday showed that at the main auction platform, the highest bid rate offered

Zim’s Processed Food Sector Records 18 % Export Growth

By Alois Vinga ZIMBABWE’s processed food sector has recorded 17.9 % export growth amid calls by the country’s export development agency, ZimTrade for local players to take advantage of abundant opportunities in the segment. The country already enjoys favourable trade and or political relations with most of the top importers of the products and this

ZUKBC chairperson Kennedy Mwedziwendira

Zim UK Business Chamber Launches Platform For Entrepreneurs

By Business Reporter A GROUP of leading entrepreneurs have come together to create a business platform to support UK-based Zimbabwean business people. The Zimbabwe UK Business Chamber (ZUKBC) will be launched this Saturday, 27 February 2021, and it is a non-profit and apolitical, membership-based organization. According to ZUKBC chairperson Kennedy Mwedziwendira, the organization will play

Victoria Falls

Tourism Sector Seeks Priority In Covid-19 Vaccination

Xinhua THE Zimbabwe tourism sector is seeking for its members to be prioritized in the first phase of the Covid-19 vaccination program that is underway in the country. “As much as the port entry people have been included over and above health workers, I feel that the people going through those ports of entry spend

Govt Approves Amendments To The Insurance Bill

By Robert Tapfumaneyi THE government has approved amendments to the Insurance Bill 2020, which seeks to repeal the Insurance Act and introduce best practices in Zimbabwe’s insurance sector. This, according to the insurance sector, will play an important role in socio-economic development. Information Minister Monica Mutsvangwa confirmed the development Tuesday during the post-Cabinet media brief.

Investor Accuses SeedCo Major Shareholder Of Unfairly Freezing Out Locals  

By Alois Vinga AFRICA’s leading independent non-bank financial services group, Imara Capital has accused a major shareholder of elbowing out local investors and acquiring a controlling stock for far below the real value of stock held by SeedCo at the Zimbabwe Stock Exchange (ZSE). The seed manufacturing giant, SeedCo International Limited (SCIL) recently acquired 78%

ToFUZ executive president Believe Tevera (right)

Tobacco Farmers Group Confronts TIMB, Outline Demands Ahead Of Auctions

By Staff Reporter THE Tobacco Farmers Union of Zimbabwe (ToFUZ) has written to the Tobacco Industry and Marketing Board (TIMB) demanding assurances farmers would be spared from perennial payment hurdles and other logistical inconveniences when sales on the golden leaf return later this year. In a correspondence covering a broad range of issues affecting his

RBZ governor John Mangudya

RBZ Allotments Hit US$39 Million Amid Economic Growth Slant

By Alois Vinga RESERVE Bank of Zimbabwe (RBZ) Foreign Exchange Auction platform allotments Tuesday reached a record high of US$39 million indicating sustained confidence in the market while sustaining economic growth priority. An update released at the close of trading showed that a total US$35.6 million was allotted on the main auction with raw material

ZITF acting General Manager Nick Ndebele

ZITF Organisers Speak On The Holding Of 2021 Event

By Mbekezeli Ncube ORGANISERS of the Zimbabwe International Trade Fair (ZITF) have put plans in motion for this year’s edition despite continued Covid-19 induced uncertainties over the resumption of the global trade showcase. ZITF was last year forced to cancel the often week-long event owing to an unprecedented lockdown period that stretched right to the

Property Sector Bemoans Paltry Mortgage Loans

By Alois Vinga THE property sector has bemoaned the paltry 2.21% for mortgage loans extended by financial institutions in 2020 last year saying such a trend is partly contributing to the depression of its market. Details contained in the Zimbabwe Property Market Report (ZPMR) for 2020 describes the situation as unfortunate for the real estate

Zim’s Yearly Exports Grow To US$4.4b

Alois Vinga ZIMBABWE’S annual exports for 2020 defied Covid-19 pandemic and grew to a record US$4.4 billion on the backdrop of a raft of economic reform measures, the country’s trade facilitation body, Zimtrade has reported. Predictions by the World Trade Organization (WTO) last year had projected “world trade is expected to fall by between 13

Dubai Sees Growing Interest From Zimbabwe Agribusiness Companies

mediaoffice.ae Dubai is seeing growing interest from Zimbabwean agribusiness companies that are keen to leverage the emirate as a strategic hub for boost trade, industry experts said during a recent webinar. The virtual forum, organised by Dubai Chamber’s representative office in Mozambique in cooperation with DEAT Capital, DP World and Dubai Exports, examined existing trade

Resilience Building Fund To Boost Beitbridge Agric Production

Fresh Plaza A PARTNERSHIP between the Zimbabwean government and the United Nations Development Programme (UNDP) is set to transform agriculture production in the Beitbridge district. A consortium of stakeholders including; International Rescue Committee, CESVI, Bio Hub, Matobo Research Institute and CIMMYT are running various projects under the Program for Growth and Resilience (PROGRESS). CESVI’s Area

Agriculture Minister Anxious Masuka

Agric Minister Masuka Woos UAE Investors To Partner Zim’s US$8.2b Agribusiness

By Alois Vinga AGRICULTURE Minister, Anxious Masuka Thursday convinced investors from the United Arab Emirates to be part of Zimbabwe’s highly ambitious $8.2 billion agribusiness project stressing the country was now a favourable investment destination. He made the pitch during the United Arab Emirates (UAE) – Zimbabwe Food and Agribusiness Virtual Forum, which is a