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Zvishavane rehabilitates roads

Patrick Chitumba Midlands Bureau Chief Zvishavane Town Council has completed the rehabilitation of 10 kilometres of roads in Mandava and Makwasha high density areas at a cost of $1,2 million. Town secretary Tinoda Mukutu said the local authority was now moving to the second phase of the road rehabilitation programme …

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FBC records $14,8m after tax profit

Business Reporter Banking group FBC Holdings Limited (FBCH) reported a 54 percent jump in after tax profit to $14,8 million in the half year to June 30, 2018 as non- interest income increased during the period on the back of increase in plastic money usage. Profit before tax rose 58 …

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Sino Zim Cement gets ISO certification

Munyaradzi Musiiwa Midlands Correspondent GWERU-based cement manufacturing company Sino Zimbabwe Cement Company has been certified by the International Organisation for Standardization (ISO). The global standards body is non-governmental international organization with a membership of 161 national standards bodies. Through its members, it brings together experts to share knowledge and develop …

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Why money alone can’t help beat poverty in Africa

JOHANNESBURG — Nigeria recently surpassed India to become the country with the highest number of people living in extreme poverty: 87 million. Nigeria is oil rich and boasts Africa’s fastest growing economy. Yet six of its people fall into extreme poverty every minute. This story isn’t unique to Nigeria. It’s …

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Rand rally sputters

The rand halted a four-day winning streak after US President Donald Trump tweeted about South Africa’s land politics, sparking concern the country may become the next target for US sanctions. The currency, the third-biggest decliner in emerging markets in the past three months, dropped as much as 1,9 percent against …

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Crude oil flows to Asia

Shipments of West African crude to Asia are set to reach a record high in August, driven by a surge in demand from Indian refiners, who will take more oil from the region than at any time since mid-2015. According to a Reuters survey of shipping fixtures and traders, some …

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Rand Falls

This morning, South Africa reported that consumer prices rose 5,1percent y/y in July, up from 4,6 percent y/y in the previous month. The July reading is still above market expectations of a 5,0 percent increase. On a month-on-month basis, consumer prices in the country rose 0,8 percent in July compared …

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Zinwa to exhibit at Harare Agric Show

The Zimbabwe National Water Authority (Zinwa) will next Monday join hundreds of other organisations that will be exhibiting at one of the country’s premier exhibitions, the Harare Agricultural Show. The annual showcase, which runs from Monday to Saturday next week, provides a unique platform for organisations to reconnect with their …

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Knives Out for Posb Bosses

A major labour grouping in the financial services sector, has lined up a series of demonstrations against POSB’s board and management over an array of allegations, chief among them incompetence. The Zimbabwe Banks and Allied Workers Union (Zibawu), said it was mobilising thousands of members including clients and employees to …

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Lancashire Steel Secures Investor

By Michael Magoronga Kwekwe — based company, Lancashire Steel, has secured an Indian investor, Whinstone Enterprises and is set to resume operations soon. The company suspended operations in 2010 after facing operational challenges owing mainly to the demise of Ziscosteel, its major raw material supplier. Lancashire Steel board chairman, Professor …

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