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
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
By Staff Reporter THE Grain Millers Association of Zimbabwe (GMAZ) reports that wheat stocks in the country have “drastically” reduced amid fears this could impact on the availability of bread in the country. GMAZ Media and PR Manager Garikai Chaunza said in a statement Saturday the country’s milling group was in the process of consulting
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
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
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
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.
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
By Alois Vinga OVER 300 Chinese business and leisure tourists are expected in the country this Thursday in a development indicating significant recovery of the country’s hospitality sector. Briefing the media on the landmark visit Wednesday evening, Tourism Minister Prisca Mupfumira said the visit was clear testimony efforts to revive the sector were beginning to
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
By Alois Vinga NATIONAL Trade and Development Agency, Zimtrade has called on Apiculture farmers in Zimbabwe, to target exporting honey to the European Union markets, where demand for the product is very high. The State trade agency said this would also give the farmers access to foreign currency. In a statement, the export facilitation organisation
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,
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
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
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
By Alois Vinga FIRST Mutual Holdings Limited (FMHL), plans to strengthen its Botswana unit in a bid to spread risk, group chief executive officer Douglas Hoto has said. Hoto told newzimbabwe.com Business, that the move has been motivated by factors centered on risk diversification. “The motive is to diversify the local country risk because Botswana
By Alois Vinga FIRST Capital Bank Zimbabwe (FCB) managed to register a 157 percent surge in revenue from the purchase of Treasury Bills, the financial institution said Monday. The bank said it had also posted a profit of RTGS$ 24.3 million after tax in the 2018 financial year. First Capital managing director, Samuel Matsekete confirmed
Matabeleland North Correspondent VICE President Kembo Mohadi Friday said government was concerned about exorbitant rates charged by hotels and tour operators for accommodation and other leisure activities which make the country an expensive tourist destination. This is despite the country being named one of the best trending destinations in the world by various tourism organisations
Bulawayo Correspondent THE price of clear beer has gone up again, hardly a month after Delta Corporation Limited increased the asking price of the commodity by 100 percent following the company’s decision to sell some of its products in US dollars. According to the new prices, a 375 ml green bottle now costs RTGS$2.50, up
By Alois Vinga CONFEDERATION of Zimbabwe Industries (CZI) president, Sifelani Jabangwe has implored government to urgently launch an investigation to establish the reasons prompting inefficiencies in the newly introduced interbank forex market. The system was introduced by the central bank February this year after government had climbed down on its fixed exchange rate of 1:1
