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‘Govt to take 100pc of Zupco ownership’

Michael Tome Business Reporter ZIMRE Holdings Limited has signalled a possibility of a disinvestment or a potential buy-out in Zupco by the Government. Government holds 51 percent of the transport company while Zimre has a 49 percent stake it acquired from United Transport Group, the original owners of Zupco, in …

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Tobacco sales 4 percent lower than last year

Zimbabwean farmers have so far sold 222,6 million kilogrammes of tobacco worth US$432.9 million, 4 percent lower than last year’s 231,8 million kg, figures released by the industry regulator show. Statistics released by the Tobacco Industry and Marketing Board on day 77 of sale show that during the same period …

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Old Mutual flexes for smallholder farmers

Tawanda Musarurwa Senior Business Reporter Insurance giant Old Mutual Zimbabwe says it is in the process of re-designing agricultural insurance products to cater for smallholder agriculture. Zimbabwe is still largely an agricultural-based economy, with the latest population census (2012) showing that over 60 percent of Zimbabweans are employed in the …

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Zimparks seeks investors

Tawanda Musarurwa Senior Business Reporter Government has committed to bring efficient to the Zimbabwe Parks and Wildlife Management Authority (ZimParks) by commercialising the entity. The move to restructure ZimParks is part of a broader Government strategy to reform numerous parastatals and state enterprises that have been operating inefficiently and as …

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We can make policy interventions work

The introduction of the Zimbabwe dollar (ZW$) through Statutory Instrument (SI) 142 has generated a great deal of debate, with some arguing on the legality of the SI itself, which I have little knowledge of, but I can at least comment on its economic and political substance. The chief argument …

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‘Parliamentary Committees recommendations should be taken seriously’

GOVERNMENT should implement recommendations made by Auditor-General (AG) Mildred Chiri and Parliament before allocating any funds to line ministries, a legislator has urged. BY MTHANDAZO NYONI Chairperson of the portfolio committee on Budget, Finance and Economic Development , Felix Mhona made the suggestion while addressing a budget analysis workshop for …

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Zim plans factories for 63 districts

ZIMBABWE plans to set up at least one factory in each of the country’s 63 districts as authorities attempt to improve standards of living for people in economically backward areas. BY FIDELITY MHLANGA The recently launched Zimbabwe National Industrial Policy (ZNIDP), spanning 2019-2023, intends to promote decentralisation of industrialisation initiatives …

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Zim firms hopeful after DRC sojourn

BY MTHANDAZO NYONI ZIMBABWEAN firms which recently attended the Democratic Republic of Congo (DRC)’s Mining Week say they are hopeful of generating business from the trade forum. ZimTrade director operations Phillip Phiri told journalists on the sidelines of the Zambia market survey results seminar held in Bulawayo yesterday that orders …

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Zim needs US$34bn for infrastructure: AfDB

BY FIDELITY MHLANGA Zimbabwe requires at least US$34 billion to revamp its infrastructure over the next decade, a new report by the African Development Bank (AfDB) has shown. With recurrent expenditure taking an upwards of 90% of government revenues, the southern African nation has not made any meaningful investment towards …

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NetOne dials US$10m FY18 profit

By Business Reporter State-owned mobile network operator, NetOne, recorded a US$10 million profit in 2018 from a loss position of US$77 million in the previous year driven by an increase in revenue and improved efficiency. Chief executive Lazarus Muchenje told an annual general meeting yesterday that cost containment measures resulted …

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