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Cottco to Introduce New Seed Variety

Cottco is set to introduce a new seed variety as it seeks to ramp up production from 140 000 tonnes to 504 000 tonnes per year and generate US$2 billion in revenue from next year, the Deputy Minister of Lands, Agriculture, Climate and Rural Resettlement Cde Douglas Karoro has said. …

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WorldRemit records surge in diaspora remittances

INTERNATIONAL money transfer service, WorldRemit, has seen a 40% surge in customers sending money to Zimbabwe for cash collection through ZB Bank. In a statement, country director of Zimbabwe and head of sub-Saharan Africa at WorldRemit, Pardon Mujakachi said diaspora contributions are vital to upholding the education of children across …

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Factories’ pre-Brexit rush boosts UK economy

LONDON. — Britain’s economy got a sharp one-off boost in the first three months of 2019, official figures showed on Friday, as manufacturers rushed to deliver orders before a Brexit that never came. Gross domestic product grew at a quarterly rate of 0,5 percent in the first quarter of 2019 …

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Southern Africa talks tough on ivory trade

Ten years after wildlife watchdog CITES forced a ban on commercial ivory sales, elephant range states in Southern Africa have grown increasingly impatient and their willingness to keep up their end of the bargain may finally be waning out. Zimbabwe, together with Angola, Botswana, Namibia and Zambia, last week said …

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Inflation to retreat: Economist

Renowned economist and Africa Economic Development Studies (AEDS) executive director Dr Gift Mugano has predicted a decline in inflation as the year progresses towards mid-year owing to slackening demand due to customers’ limited buying power. Basic commodities prices have lately been skyrocketing beyond the reach of many ordinary Zimbabweans but …

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IDC spins off WMI, Deven

State-controlled Industrial Development Corporation (IDC) has started the process to dispose of its controlling shareholding in struggling automobile firms, Willovale Motor Industries (WMI) and Deven Engineering, as Government’s parastatal and State enterprises reform gathers pace. Finance and Economic Development Minister Mthuli Ncube said last year that privatisation of struggling State …

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Cottco moots setting up own farms

The Cotton Company of Zimbabwe intends to start developing own commercial farms, targeting at least 100 000 hectares across the country to anchor production and support cotton value chains, managing director Pious Manamike said. Currently, Cottco is administering Government’s multi-million dollar inputs programme meant to support vulnerable households. The programme …

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Mass Arrests At Zinara Over Corruption, CEO Resigns

SOME 19 employees at the Zimbabwe National Roads Authority (Zinara) on charges of fraud, while acting chief executive officer Mathlene Mujokoro and audit manager Shadreck Matengabadza have been forced to resign. With more arrests expected, those set to appear in court are being charged with misappropriating US$210 000. Zinara public …

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Zimbabwe Assesses Pension Value Losses

By Martin Kadzere The Insurance and Pension Commission has started engaging stakeholders on compensation framework for policy holders and pensioners whose savings were wiped off during the conversion of values from Zimbabwean dollars to US dollars a decade ago. This comes at a time when Government said it would “assess” …

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President Reassures Nation On Prices

By Farirai Machivenyika President Mnangagwa has assured the nation that Government will — without fail — address the various economic challenges being faced by the generality of the people. He said this while addressing mourners gathered at the National Heroes Acre yesterday for the burial of Cde Mishack Ntundu Velaphi, …

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