Markets

Markets

Mozambique looks to revive gas deals stalled by unrest

By AFP Global energy giants were quick to halt their Mozambican gas projects when jihadist violence erupted on their doorsteps. After months of calm, reviving those multi-billion-dollar projects is a much slower job. TotalEnergies CEO Patrick Pouyanne visited Maputo on Monday, saying he was optimistic about the $20-billion project. “A lot of progress has been

Global Law Firms Unite For China-Zimbabwe Lithium Deal

Law.com LAW firms from around the world are advising as Chinese company Zhejiang Huayou Cobalt acquires Arcadia Lithium Mine in Zimbabwe, majority-owned by Australian-based Prospect Resources, in a deal worth $422 million. Prospect says the transaction highlights the benefits flowing from the Special Economic Zone status of Arcadia Lithium Mine, with its potential to “put

Bitcoin Remittance Revolution: Will Africa Lead The Way?

Moneyweb AFRICA might just as well be the new home of Bitcoin. Mobile phone penetration, weak national currencies, and restrictive monetary policies are some of the key drivers for the rise of Bitcoin remittance market in Africa. The African continent has many opportunities for widespread Bitcoin adoption. One of those opportunities is remittance fueled by

Zim’s Beef Herd Recovers From Recent Droughts

By Alois Vinga ZIMBABWE’s beef herd has registered significant increases from the drought effects experienced in recent years due to availability of stock feed and grazing pastures. Latest statistics from the Reserve Bank of Zimbabwe (RBZ) reveal the performance of the cattle industry, measured from formal sector slaughters, had improved significantly. Formal sector cattle slaughters

Zim Set To Export Oranges To China

By Thandiwe Garusa ZIMBABWE has signed a deal with China to export fresh citrus fruits to the Asian giant. The Chinese Embassy has confirmed the deal. “The sweet and juicy Zimbabwean citrus will join the Chinese market as the citrus export protocol has just been signed,” it said. “We are implementing President Xi’s pledge that

Zimbabweans put the country on the map in world of wine

By theguardian.com Like many young Zimbabweans before and since, Tinashe Nyamudoka left the economic chaos of his country to find work and a better life for himself in neighbouring South Africa. When he left in 2008, Nyamudoka had never tasted wine. Now, he ranks among southern Africa’s top sommeliers and has his own wine label with

Zimbabwean Heads Africa List Of Women To Watch In Banking & Finance

The Angaza Awards WOMEN to Watch in Banking and Finance program has announced the list of Top 10 women shaping Africa’s financial services sector. The list was compiled following a 3 month entry period which saw professionals from Kenya, Côte d’Ivoire, Mauritius, Nigeria, Rwanda, South Africa, Uganda, Zambia, and Zimbabwe submit applications. Kenyan WallStreet and

Incentives Push Gold Output By 55,5%: RBZ

By Alois Vinga THE Reserve Bank of Zimbabwe (RBZ) has hailed the Gold Incentives Scheme (GIS) introduced by the government last year for increasing the precious mineral’s output and deliveries by 55,5%. Small-scale miners also maintained the lead in production ahead of large producers. In a statement Wednesday, the RBZ governor, John Mangudya applauded producers

Boom For Kariba Hotel, Tourism Operators During Festive Season

By James Muonwa, Mashonaland West Correspondent THE just-ended Christmas holiday saw a rebound of the hotel and tourism industry in Kariba that had experienced a battering due to successive Covid-19 pandemic lockdowns. According to industry sources, occupancy levels at registered hotels and lodges were at 100%. This resulted in desperate accommodation seekers resorting to paying

RBZ governor John Mangudya

RBZ Maintains Policy Rate At 60%

By Alois Vinga THE RESERVE Bank of Zimbabwe (RBZ) Monetary Policy Committee (MPC) has maintained the bank policy rate at 60% amid other measures aimed at reinforcing macroeconomic stability. In a statement released after the MPC meeting Wednesday, RBZ governor John Mangudya defended the decision to maintain the interest rate. “In light of obtaining macroeconomic stability, the

The refurbished Bulawayo SME Centre

ILO, Govt Refurbish Bulawayo SMEs Centre For US$130 000

By Alois Vinga THE International Labour Organisation (ILO) in partnership with the government, have refurbished Bulawayo Small and Medium Enterprises (SMEs) centre at a cost of US$130 000 amid expectations the model project will spread across the country. The global labour organ partnered with the Bulawayo City Council (BCC), National University for Science and Technology

The Palm River Hotel

New US$25m Luxurious Hotel Opens In Vic Falls

By Matabeleland North Correspondent VICTORIA FALLS: A new multi-million dollar luxurious hotel, built for US$24.6 million through a partnership by Old Mutual Zimbabwe and Spencer’s Creek was officially opened in this resort city Wednesday. The Palm River Hotel has 73-rooms comprising a presidential suite, executive and honeymoon suites, 60 deluxe rooms, and standard. There are also

Botswana’s Mack Air Partners Zim’s CATS For Safari Ops

Agencies BOTSWANA’S Mack Air and Zimbabwean charter carrier Central Air Transport Services (CATS) have announced a new codeshare partnership for the launch of a new daily safari service between Victoria Falls and Hwange National Park, both in Zimbabwe, in April 2022. “As tourism growth continues to improve across Southern Africa in a post COVID environment, it is important for

The all-new beastly Nissan Navara truck was launched in Harare on Tuesday last week

The All-New Nissan Navara Is Sexy, Tough, Aggressive

By Andrew Kunambura AT they very first sight of it, a female colleague let out an involuntary scream which left everyone, including herself, perplexed: “Oh, It’s sexy,” she exclaimed, most probably in her awe enthralled stupor after being mesmerized by this beautiful beast. In so doing, she broke an insipid silence which left everyone turning

Glow Petroleum Opens A US$1,5m New Fuel Station In Vic Falls

By Matabeleland North Correspondent VICTORIA FALLS: One of the country’s leading fuel dealers, Glow Petroleum has opened a new fuel station in this resort city after investing US$1,5 million into the project. This becomes Glow Petroleum’s 42nd  branch in Zimbabwe. Glow owner Aaron Chinhara partnered with Victoria Falls businessman Ozias Marange on the project, which will

Zimbabwe May Embrace Bitcoin As Legal Tender

Agencies ZIMBABWE has been paying attention to the increasing demand for crypto among its people, which it views as a possible avenue for growth. The country has also been receptive to regulating the entire sector. Zimbabwe’s government is considering utilizing Bitcoin (BTC) as a legal payment option to meet this growing demand and harness the

Rwandan Firm Secures 2 000ha In Zimbabwe For Chilli Production 

The Times Rwanda GASHORA Farm led by Diego Twahirwa, an agribusiness entrepreneur has secured 2000 ha of land in Zimbabwe, in a bid to increase chilli produce. Twahirwa intends to outgrow 2000 hectares of spice this season, under the deal. The agreement was reached between Shumbatafari, one of Zimbabwe’s leading agribusiness firms and Gashora Farm,

Vangelis Haritatos Deputy Agriculture Minister

Horticulture Sector Embarks On Unique Export Plan

By Staff Reporter THE Zimbabwean Horticultural Development Council (HDC) last Thursday and Friday hosted an investment forum. It is the first of its kind to track development trends and opportunities in Zimbabwe and to provide insights and analysis with the aim of attracting foreign direct investment into Zimbabwean horticulture. The government aims to increase agriculture’s

Industry Minister Sekai Nzenza

Industry Ministry Holds Workshops Establishment Of Zambia/Zim Agro-Industrial Parks

By Staff Reporter THE Economic Commission for Africa (ECA), the Common Market for Eastern and Southern Africa (COMESA) and the Industry Ministry organised workshops in Harare and Bulawayo on the establishment of agro-industrial parks between Zambia and Zimbabwe. The agro-industrial parks are under the joint-industrialisation programme between the two countries. The objectives of the workshops were to sensitise

Govt Moots Compulsory Insurance For Small-Scale Farmers

By James Muonwa AGRICULTURE financiers need security on investment in agricultural activities of small-holder farmers in light of various climate-induced disasters, an expert has said. Agricultural Finance Corporation (AFC) Holdings acting chief executive, Francis Macheka said insurance against the vagaries of inclement weather gives financiers a guarantee of recouping their investment in times of calamities,