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Business Reporters— MOBILE phone operator, Telecel, has introduced a free money transfer service through its Tele-cash facility as it moves to attract an increased client base. Telecel spokesperson Francis Chimanda told Business Chronicle the slashing of charges on Tele-cash transactions came into effect last Friday. “The review of
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Harare – Zimbabwe will next month receive the first tranche of $38 million from Brazil under a $98 million loan facility agreed between the two countries last year to fund acquisition of agricultural equipment, Acting President Joice Mujuru said yesterday. Acting President Mujuru, who was addressing delegates at
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Masvingo Business Correspondent SUGARCANE farmers have urged the government to tighten controls on sugar imports saying the country has enough of the product to meet local demand. Zimbabwe Sugarcane Farmers Development Association (ZSFDA) chairman, Edmore Veterai said while government has banned agricultural imports, foreign
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Chronicle Correspondents PREPARATIONS for this year’s annual agricultural shows in Gwanda, Hwange and Chiredzi are at an advanced stage with exhibitors looking forward to a fruitful interaction and clinching business deals. The three shows begin on Thursday next week stretching up to the weekend with Gwanda hosting the
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ELECTRONIC trading on the Zimbabwe Stock Exchange (ZSE) commences next month with three counters initially taking part in the historic trade. The company responsible for the project, Chengetedzai Depository Chengetedzai said on Monday three listed companies, CBZ Holdings, Cottco Holdings and FBC
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Business Reporters Bulawayo-based fast moving consumer goods company United Refineries Ltd says capacity utilisation has increased to 65 percent on cooking oils from as low as 30 percent boosted by a $15 million capital injection from a new investor. Grindrod has invested more than $15 million into the business so far which has
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THE Reserve Bank of Zimbabwe (RBZ) has said it was working with the government to place the Infrastructure Development Bank of Zimbabwe (IDBZ) and the Small Enterprises Development Corporation (Sedco) under its supervision. The two entities, which fall under the Ministry of Finance and that of Small and
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Harare Bureau FBC Bank has secured a $60 million three-year term syndicated loan facility jointly arranged by Standard Chartered Bank and its partners to support trade, manufacturing and key projects in the economy. The facility carries a comprehensive guarantee from African Export-Import Bank and was jointly arranged
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Harare Bureau ALPHA Omega Dairy expects to increase production of its Munandi Lacto fourfold to two million litres per month from next month following the arrival of new equipment to be commissioned “soon”. Currently Alpha Omega’s Munandi Lacto is driving the company’s volumes pushing over about 500,000 litres
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Prosper Ndlovu Business Editor THE country’s pricing model should be reviewed downwards to increase domestic industrial competitiveness following revelations local commodities were costlier compared to other countries in the region, analysts have said. On Monday, the Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya,
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HIGH costs of fertilisers are negatively affecting production of crops among communal and small holder farmers throughout the country, an official has said. Compound D is ranging from $30 to $39 per 50kg bag while Ammonium Nitrate (also known as top dressing) ranges from $36 to $39 per 50kg bag. Fertiliser
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Tonderai Rutsito THE Midlands State University has unveiled a centralised system that digitalises all services offered to students, among them the e-Sadza system. e-sadza is a very smart, simple and fast system that flawlessly bills students for meals eaten in the university’s canteen and it serves at least one student per every 10
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THE euro extended its slide yestersday, hitting its lowest level in a year against the dollar as expectation grew that the European Central Bank will act soon to counter low growth and inflation. Government bond yields around the world remained under pressure and stock markets were buoyant on the prospect of
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IMPERIAL Holdings Ltd (IPL), owner of South Africa’s biggest car-dealership network, said full-year profit declined 10 percent as the South African economy slowed and the rand weakened. Earnings per share, excluding one-time items, fell to 16.25 rand in the year ending June 30 from 18.05 rand a year earlier, the
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