Business

Business

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

RBZ Governor John Mangudya

RBZ Auction Allotments Increases To US$35m

By Alois Vinga THE RESERVE Bank of Zimbabwe (RBZ) has managed to sustain foreign currency supplies allotting a total US$34.6 million this week. Since the auction kicked off this year, amounts allotted have been much higher compared to last year’s figures. The central bank has been allotting amounts hovering around US$35 million signifying increasing confidence

Finance Minister Mthuli Ncube

Covid-19: US$500b Needed To Jump Start African Economies

By Business Reporter AFRICAN ministers for finance have unanimously agreed that at least US$500 billion will be required to jump start their economies battered by the Covid-19 pandemic. This came out during a recent virtual meeting for the ministers, which was convened by the United Nations Economic Commission for Africa (UNECA) and the International Monetary

Caledonia Mining Injects US$60m Into Shaft Sinking At Blanket Mine

Mining Review THE Blanket gold mine can truly be classified as a survivor. Formal mining operations started in the early 1900s. More than a century later, Blanket is still going strong with +1 Moz having been produced over its life from both fresh ore and tailings. Located 15 km north-west of Gwanda in Zimbabwe in

Nine lives...Henrietta Rushwaya

Henrietta Rushwaya Re-Instated As Zimbabwe Miners Boss

By Mbekezeli Ncube SCANDALOUS Zimbabwe Miners Federation (ZMF) President Henrietta Rushwaya, arrested last year after attempting to smuggle 6kg of gold to Dubai, has been reinstated as the organisation’s top boss after she was suspended last year. The nine-lives ex-ZIFA boss was suspended by the federation’s committee a few days after the arrest as they

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

Economists Bemoan Zim’s Profiteering Indiscipline

By Alois Vinga TWO top economists have bemoaned the high level of indiscipline manifesting through unjustified price hikes which go far beyond input costs. The two added moral suasion for national good is the only way forward in addressing this long-term problem. The comments come when prices of most basic commodities have risen astronomical due

SeedCo Exits ZSE

By Alois Vinga LISTED seed manufacturing giant, SeedCo International Limited (SCIT) has finally acquired 78% stake in its local unit SeedCo Limited (SCL) enabling the company to implement its exit from the Zimbabwe Stock Exchange (ZSE). Recently, SCIL said the rationale for the offer was premised on a strategic response to the changes in the

Vic Falls Border Still Open To Importers, Traders – Zambia Authorities

By Staff Reporter ZAMBIA’S revenue authority has moved to clarify the neighbouring country’s new import and export policy which sees the Victoria Falls border post still open to non-commercial cargo, vehicles below 16 tons, hawkers, individual traders and tourists. In a statement Monday, Zambia Revenue Authority Corporate Communications Manager Topsy Sikalinda said Zambians and Zimbabweans

BNC Registers 9 % Tonnage Increase

By Alois Vinga LISTED miner, Bindura Nickel Corporation (BNC) has registered a 9 % tonnage output increase among other major improvements in the last quarter of 2020. This week, the group’s company secretary, Conrad Mukanganga revealed that there has been a 20% improvement in development metres achieved at 355 metres. “Tonnes mined increased by 9

Finance Minister Mthuli Ncube granted the tax exemption

Great Dyke Investments’ Half Decade Tax Holiday Challenged

By Alois Vinga DARWENDALE platinum miner, Great Dyke Investments’ five-year tax reprieve granted by government recently, now hangs in the balance following an urgent chamber application filed against the controversial policy directive. The mining entity is a joint venture between Russia’s Vi Holdings and Zimbabwe’s Landela Mining Venture (Pvt) Limited and is investing US$3 billion

Zambia president Edgar Lungu

Zambia Ban On Car, Grocery Exports Via Vic Falls Border

By Matabeleland North correspondent Victoria Falls: Zambia’s Revenue Authority (ZRA) has announced it will ban exportation of a cocktail of goods including vehicles, household items and groceries through Victoria Falls Border starting on 1 March. The decision by the neighbouring country is expected to hit hard especially on Victoria Falls residents who before the lockdown

Bid To Save Greyhound From Collapse

SABC Greyhound bus service has acceded to the union’s request to halt plans to close its operation. The bus company will now apply for the Commission for Conciliation, Mediation and Arbitration (CCMA) facilitation of Section 189. Earlier this week, Greyhound owners Unitrans announced that its Greyhound and Citiliner bus operations will stop on the 14th

Denford Mutashu

Lockdown: Retailers Group Appeals For Increase In Business Hours

By Alois Vinga THE Confederation of Zimbabwe Retailers (CZR) has urged President Emmerson Mnangagwa to intervene and save businesses in the wake of tough Covid-19 lockdown measures on companies. In an update Thursday, CZR president Denford Mutashu bemoaned that local businesses and the general public bore the brunt of the pandemic in an environment where

Ariston Holdings Banana Production Up 65 % Due To Good Rains

By Alois Vinga LISTED agricultural concern, Ariston Holdings has registered a 65 % surge in banana production alongside good yields on other crops on the backdrop of a good rainy season. Presenting a trading update for the first quarter ended December 31 2020, Ariston Holdings company secretary Aquiline Chinamo said good rains have spurred the

Nampak Suffers Volumes Decline

By Alois Vinga PAPER and packaging group, Nampak Zimbabwe suffered significant volumes decline across its business units attributed to the harsh Covid-19 impact on the local economy in the past year. Presenting the group’s performance for the period ended September 30 2020, the group managing director, John Van Gend said the pandemic’s impact took a

Multichoice Zimbabwe Promises Sumptuous DStv February Viewing

By Alois Vinga MULTICHOICE Zimbabwe has urged viewers not to miss the opportunity to view great content on M-Net which ranges from new series, returning favourites to reality shows and blockbusters. Speaking to NewZimbabwe.com Tuesday, MultiChoice Zimbabwe, publicity and public relations manager Liz Dziva said after hitting the ground running last month, this February will

CFI Remains Under ZSE Suspension

By Alois Vinga AGRO-INDUSTRIAL group, CFI Holdings Limited remains under the Zimbabwe Stock Exchange trading ban but is optimistic that authorities will grant permission allowing the group’s shares to resume trading. ZSE suspended the company’s shares in 2018 after failure to comply with listing requirements. According to the listing rules, a company is obligated to