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
By Alois Vinga THE 2019 tobacco selling season kicked off in Harare Wednesday, with the highest selling price standing at US$4.50 per kilogramme, down from US$4.90 recorded on a similar day last year. Speaking to NewZimbabwe.com Business Tobacco Industry and Marketing Board corporate communications manager, Isheunesu Moyo confirmed the prices. “The selling season took off
By Alois Vinga THE Reserve Bank of Zimbabwe (RBZ) has been criticised for failing to deal with value loss in account balances and fixing an unreasonably low exchange rate in its Monetary Policy Statement (MPS). According to a statement from the Confederation of Zimbabwe Industries (CZI) the policy also failed to address issues around people’s
By Alois Vinga BOKA Floors managing director, Chido Nyakudya says the 2 percent mobile transfer tax introduced last October by government must not apply on all tobacco related transactions to avoid erosion on tobacco farmers’ incomes. “We are facing challenges with the 2 percent tax…and we are currently engaging the Finance Ministry over the matter,”
WorldRemit, a leading online international money transfer company, has seen a rapid uplift in customers sending money to Zimbabwe using its guaranteed cash pickup service. Transfers sent for cash collection at CBZ Bank locations alone have risen by 30% per month. To make it easier for people living in urban and rural areas to receive
By Alois Vinga CHROME Miners have rejected the Reserve Bank of Zimbabwe (RBZ) blanket directive on exporters to use all forex proceeds within 30 days. Speaking at a Zimbabwe Miners Federation meeting held in Harare this week, players argued that the nature of the mining industry required more planning time going beyond the stipulated timeframe.
By miningreview.com Rishon Chimboza, Mining Sector Lead at africapractice, speaks to us about what should be taking place in Zimbabwe to revive the country’s natural resources sector. Mining is a crucial industry in Zimbabwe but has potential to be so much bigger than it currently is. There are just a handful of significant mining companies in
By Alois Vinga DEPUTY Mines Minister, Polite Kambamura says that gold remittances to Fidelity Printers and Refiners (FPR) have reduced significantly since the Reserve Bank of Zimbabwe (RBZ) monetary policy announcements made last week. Briefing guests on challenges being experienced in the mining sector at a breakfast meeting held in Harare on Tuesday, Kambamura revealed
By Staff Reporter GOVERNMENT says it is in the process of engaging a baker who will produce a standard loaf of bread with 100 percent of locally produced ingredients. This comes as bread shortages persist in the country while hard-pressed local bread makers have demanded autonomy in the pricing of the staple food. Addressing a
By Alois Vinga ZIMBABWE has produced 140 000 tonnes of cotton owing to the presidential input support scheme which capacitated local farmers with resources to double their 2017 yield in 2018. This was confirmed by Association of Value Adders of Zimbabwe (AVAZ) director, Admire Masenda while speaking to NewZimbabwe.com Business this week. “Cotton output in
By Tidi Kwidini LONDON: Affirmative Action Group (AAG) president, Dr Chamu Chiwanza, is scheduled to keynote at the launch of The Shift UK, a business enterprise scheme that brings together corporate leaders to discuss key issues affecting the African continent. The Shift was established over five years ago by Dr Chiwanza, who is the patron,
