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Senior Business Reporter INDUSTRY and Commerce Deputy Minister Chiratidzo Mabuwa is in Bulawayo for a marathon tour of the city’s industries today where she will meet top performing entities with the view of assisting them in attracting investment and exports. Once the industrial hub of the country, Bulawayo has in the past few
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TO support issuing banks in Africa in expanding their trade finance operations, the African Development Bank (AfDB) has entered into a $40 million risk participation agreement (RPA) with Spanish banking group Banco Santander. The facility would tackle critical market demand for trade finance in Africa by
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Business Editor ZIMBABWE could turn into an investment destination of choice if the proposed labour law reforms sail through, a leading Bulawayo-based labour law expert Davis Ndumiso Sibanda said. The labour legislation “is under stress”, he said, and has been partly blamed for stifling investment as evidenced by the rampant
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Midlands Reporters KWEKWE City Council has floated tenders to embark on a bio-fuel project that will result in the production of diesel additives from the city’s waste material. Similarly Gokwe Town Council is mulling setting up a bio-gas project aimed at minimising power consumption by residents as well as countering
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Martin Kadzere Harare Bureau THE cabinet has approved principles of the proposed amendments to the National Incomes and Pricing Commission Act to pave way for the creation of the National Competitiveness Commission Act, Industry and Commerce Minister Mike Bimha said. This will lead to the formation of National Competitiveness
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Harare Bureau The Zimbabwe Revenue Authority surpassed its revenue collection target for the first quarter of the year by five percent after gross collections came in at $896,6 million against a target of $850 million. However net collections fell by 6 percent after the authority was left with $803,2 million against a target of $850
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Prosper Ndlovu Business Editor— THE business community has expressed readiness to embrace the 50 cents bond coins when they start circulating in the market next week. The Reserve Bank of Zimbabwe (RBZ) yesterday assured the transacting public that the 50 cents bond coin would be in use starting next Tuesday. The new coins come at a time
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Fairness Moyana Hwange Correspondent HWANGE Colliery Company’s divisionalisation thrust has taken real shape with the medical and estates departments becoming fully stand-alone entities, which carry their own costs and obligations. The strategic move has resulted in the departments having separate payroll services and accounts structures. The
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Business Reporter THE government has availed $670,000 to finance business projects for university and college graduates under the Graduate Entrepreneurship and Employment Promotion Programme (GEEPP). Higher and Tertiary Education, Science and Technology Development Minister Oppah Muchinguri-Kashiri
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THE national airline, Air Zimbabwe, says it expects its passenger numbers to grow by over seven percent this year, higher than the industry average, with new routes driving the growth. Last year the airline transported 186,365 passengers on its regional network and the domestic markets. However, acting chief
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Senior Business Reporter ZIMBABWE Stock Exchange-listed firm, Padenga Holdings says increased business from its crocodile operations will have a positive impact on cost of sales this year driven by the current excellent crop of grower reptiles. Company chairman Alexander Calder revealed in a statement accompanying the group’s
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Molline Gagare Business Reporter— THE wholesale, retail and motor repair industries are the largest employers contributing 61 percent of job opportunities in the informal sector countrywide compared to 13 percent by the manufacturing industry, a survey has shown. The informal economy, popularly known as the Small to Medium Enterprises
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Oliver Kazunga Senior Business Reporter BULAWAYO-based textile firm, Archer Clothing, has recruited 160 additional workers as it moves to boost production targeting exports to neighbouring South Africa. Paramount Garments, a Harare-based firm now in charge of Archer, says it will go ahead with the revival of the giant clothing company despite the
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THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has defended prices being charged for mobile data and internet services despite concerns from the public that telecoms players are inflating the costs to make up for reduced revenue from voice services. Potraz acting director general
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