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Harare Bureau SUSPENDED Allied Timbers Zimbabwe chief executive Joseph Kanyekanye has denied corruption charges raised against him and has accused the company’s chairman of usurping executive authority and “acting wrongly with insufficient facts.” Kanyekanye alleges that the decision by chairman Emmanuel Fundira
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Walter Muchinguri Harare Bureau Kariba-based Lake Harvest, the largest fish producer in Africa, has set its sights on two new export markets. The company, which produces a bream called the Nile Tilapia or Oreochromis niloticus, wants to add DRC, Angola and Mozambique to its export destinations. Lake Harvest is exporting about 80 percent of its
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Harare Bureau THE government has thrown its weight behind Zimbabwean candidate Thomas Zondo Sakala for the post of African Development Bank (AfDB) president in elections set for May this year. Incumbent AfDB president Donald Kaberuka, steps down in May after serving the continental financial institution for
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Harare Bureau THE National Social Security Authority expects to inject more than $10 million into various projects countrywide including capitalisation of a new building society as part of a 10-year development plan. This year, NSSA is focusing on housing development in Masvingo, a commercial centre in Chipinge and the
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Tinashe Makichi Harare Bureau Zimbabwe Coalition on Debt and Development (Zimcodd) yesterday said failure by Zimbabwe to make meaningful adjustment on fuel prices means that the possible ripple effects of the declining global oil prices cannot be realised as noted in other countries like South Africa. On January 10 this year, Energy and
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Golden Sibanda Harare Bureau— THE Zimbabwe Asset Management Company (Zamco), formed by the central bank to rid local banks of bad loans, has to date taken over $65 million worth of non-performing loans (NPLs). Reserve Bank of Zimbabwe governor John Mangudya yesterday said the exercise was critical in view of the fact
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Charity Ruzvidzo Business Reporter MORE than 300 small and medium enterprises (SMEs) have so far been registered in Bulawayo as the process to formalise the informal sector continues. The registration exercise started early this month and is a countrywide process aimed at enhancing the SMEs contribution to the Gross
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Oliver Kazunga Acting Business Editor BEVERAGES manufacturer Delta Corporation says its revenue for the quarter ending December 31, 2014 was down 10 percent on the back of weakening demand for its product mix. In a trading update yesterday, the company said this was caused by the underperforming economy. “The
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Oliver Kazunga Acting Business Editor TROUBLED insurance broking firm, Navistar Insurance Brokers, says it is close to raising $400,000 needed to pay off creditors before the regulator can consider lifting its suspension to resume operations. The company, which was placed under judicial management in 2014, had its operating licence
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Fortious Nhambura in Utrecht, Netherlands Inadequate funding of tourism marketing programmes is hampering Zimbabwe’s efforts to penetrate international tourist markets, Zimbabwe Tourism Authority chief executive Karikoga Kaseke has said. Speaking at the close of the Vakantibuers Travel and Tourism Fair in Utrecht, Netherlands, Kaseke
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GENERAL Motors (GM) Zimbabwe recorded an increase in sales for the year to December 2014 as the company market share rose to 20 percent. This comes as the firm’s authorised local dealer, Autoworld, secured the highest market share by the third quarter of last year with Isuzu sales grabbing 11.4
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Tinashe Makichi Harare Bureau The total value of transfers and transaction on mobile money services for the nine months to September 2014 increased by about 36 percent to $403 million from $296 million recorded in the previous quarter. Latest statistics released by the Postal and Regulatory Authority of Zimbabwe for the third
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Lovemore Zigara Business Correspondent ZVISHAVANE-BASED platinum miner, Mimosa Mining Company has poured more than $1,4 billion into the economy over the last five years in various investments and initiatives, a senior company executive has announced.
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Charity Ruzvidzo Business Reporter ECONET Wireless Zimbabwe chief executive officer (CEO) Douglas Mboweni recently scooped a top international award for business leadership.
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