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Agribank Pounces On Defaulters

By Phillimon Mhlanga NEARLY 20 properties belonging to embattled companies and individuals across the country will be auctioned today in Harare to settle debts owed to State-owned financial institution, Agricultural Bank of Zimbabwe Limited (Agribank), as the bank intensifies recovery of bad debts, the Financial Gazette’s Companies & Markets (C&M) …

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SA inflation hits six-month low

Pretoria. – South Africa’s inflation rate fell to a six-month low in March after food-price increases slowed. Consumer inflation eased to 6,1 percent from 6,3 percent in February, Statistics South Africa said in a report released on Wednesday in the capital, Pretoria. The median estimate of 15 economists surveyed by Bloomberg was …

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Zimra exceeds 1st quarter target

Walter Muchinguri Assistant Business Editor The Zimbabwe Revenue Authority has exceeded its target for the first quarter this year by 6,09 percent as it continues to benefit from the new revenue enhancement measures it has been implementing. These include automation, greater enforcement and the fight against corruption. Zimra said gross collections for the …

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Yahoo bows out as public company

SUNNYVALE, California. — Yahoo is bowing out as a public company with its revenue still declining, a chronic problem that culminated in its sale to Verizon Communications. Despite the revenue downturn, Yahoo fared better during the first three months of the year than analysts had anticipated — a low bar that …

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IMF bullish on Zim growth

Minister Chinamasa Business Reporter— THE International Monetary Fund has reviewed upwards its economic projection for Zimbabwe to 2 percent from its earlier forecast of minus 2,5 percent made late last year. The latest growth forecast by the Bretton Woods institution, however, falls conservatively short of the more upbeat revised economic growth …

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Zamco mops $0,5bn bad loans from banks

HARARE – The Zimbabwe Asset Management Corporation (Zamco) has mopped up over $500 million bad loans from the country’s banks in an effort to make them attractive to foreign investors. Finance minister Patrick Chinamasa said since the Special Purpose Vehicle began operations in 2015, it has relieved local banks allowing …

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Govt appoints new CSC board

Government has announced the new Cold Storage Company board that is expected to spearhead command livestock programme and improve the national herd particularly in communal areas. Agriculture, Mechanisation and irrigation Development Minister Dr Joseph Made last week said the new board included three member from the National Social Security Authority …

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Number of rejected tobacco bales too high

HARARE – At least 40 520 bales of tobacco  have been rejected at auction and contract sales floors since the start  of the 2017 marketing season, a 28,4 percent jump from the 31 539  bales  rejected during the comparable period last year, statistics that the  regulator released show. Statistics that …

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Zim expects 1.2m diamond carats

Zimbabwe is anticipating to reach 1.2 million carats of diamonds per year once the Zimbabwe Consolidated Diamond Company (ZCDC) begins activities in all the mining concessions. This was revealed by the Permanent Secretary in the Ministry of Mines and Mining Development, Professor Francis Gudyanga in Chiadzwa. “The diamond industry is …

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ZSE maintains upward trend

The Zimbabwe Stock Exchange has maintained its upward trend, closing the day in the positive territory at 141.27 points. The industrial index gained 0.18 points to close at 141.27 points. ZB Financial Holdings gained 1.70 cents to trade at 12.70 cents, Old Mutual went up by 0.45 cents to settle …

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