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Business

OM listing on JSE boon for Zim

OLD Mutual Zimbabwe Limited group chief executive officer Jonas Mushosho said the parent company will begin to unlock value now that its primary listing was moved to the Johannesburg Stock Exchange (JSE) in South Africa. BY BUSINESS REPORTER This comes as a result of Old Mutual Plc’s Managed Separation strategy …

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BancABC parent ups stake in Nigerian bank

BANCABC parent, Atlas Mara, has increased its stake in a Nigerian bank to 49%, as it seeks to cement its foothold in Africa’s largest economy. BY BUSINESS REPORTER In a notice on Tuesday, Atlas Mara said it has agreed to acquire an additional 280 956 166 shares of Union Bank …

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Zim to treble gold output

Zimbabwe will treble gold output to 100 tonnes in 12 years on the back of recapitalisation in the gold sector, the Chamber of Mines has said. BY BUSINESS REPORTER Gold output is projected at 30 tonnes this year after the increase in the gold support scheme from $74 million to …

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Southern African Trade Conference Kicks Off

By Lovemore Ranga Mataire A three-day Southern African Structured Trade Conference kicked off yesterday in Livingstone, Zambia where seasoned global and regional experts in commodity exchanges, finance, mineral and agri-business are expected to exchange ideas on how to deepen regional economic integration. The conference is being convened by the INTL …

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Mwenezi East in Drive to Rehabilitate Dip Tanks

By Walter Mswazie Zanu-PF candidate for Mwenezi East Cde Joosbi Omar has partnered communities in his constituency to rehabilitate 12 dip tanks that have been lying idle for the past 10 years. The exercise is being done using proceeds from the Constituency Development Fund. Villagers in Neshuro have heaped praise …

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Prepping your business for investment

WhilE currently “Zimbabwe is open for business”, it will be in business post the 30 July plebiscite. No matter what the outcome is, economic activity is expected to rise and it is up to you to prepare your business for the upsurge. Most of the local enterprises will require investment …

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United Refineries adopts fortification

Prosper Ndlovu Bulawayo Bureau GIANT agro-processor United Refineries Limited has adopted food fortification as part of its long-term business model in keeping with the country’s nutrition policy and global trends. Food fortification or enrichment is the process of adding micro-nutrients, essentially trace elements or vitamins, to food, which can lack …

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DRC expo: Good return for Zim firms

Own Correspondent The recently ended DRC Mining Week at which 10 Zimbabwean companies exhibited under the ZimTrade banner, kickstarted negotiations for nearly $3 million worth of business deals for Zimbabwean mining and mining inputs companies. The Expo was held in Lubumbashi from June 13 to 15 and companies have returned …

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Old Mutual Relists On ZSE

Old Mutual Limited yesterday relisted its shares on the Johannesburg Stock Exchange (JSE), undertook a standard listing on the London Stock Exchange (LSE) and secondary relistings on stock exchanges of Malawi, Namibia and Zimbabwe. The relisting is the result of Old Mutual plc’s “Managed Separation” strategy, which was announced in …

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Manufacturing sector requires $2bn: CZI

Tawanda Musarurwa Zimbabwe’s manufacturing sector requires around $2 billion in capital funding for optimum operation, the Confederation of Zimbabwe Industries (CZI) has said. CZI president Sifelani Jabangwe pinpointed the pharmaceutical sector and agro-industry as the key sub-sectors most in need of urgent funding. “In total, to kick-off all the sub-sectors …

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