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Inept Bosses Cost Zinara Us$200m

By Tendai Mugabe The Zimbabwe National Road Administration (Zinara) has suffered a financial loss in excess of US$200 million due to incompetence and lack of expertise by its senior managers to negotiate contracts beneficial to the State entity. It is believed that the managers were also helping themselves to hefty …

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Does Bitcoin Mining Fuel Climate Change?

ANALYSISBy Climate Change Jeffrey Gogo A common mainstream media narrative is how bitcoin mining consumes a lot of coal-generated electricity, thereby fuelling climate change. Much less is said about electricity usage involving legacy, monopoly financial institutions like commercial banks. This bias is confirmed by a recent study that has received …

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RBZ raises gold miners forex allowances after output halt

The Reserve Bank of Zimbabwe (RBZ) has increased the amount of foreign exchange that gold companies can retain after a shortage forced some mines to close. Metal producers in Zimbabwe have been struggling to meet production costs because of the shortage of hard currency. That forced RioZim Ltd to temporarily …

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Refocus pays dividends for Cafca

Cable manufacturer Cafca’s profit after tax grew four-fold to $3,85 million in the six months to September 30 from $726 213 last year on strong local demand after refocusing to copper products. BY TATIRA ZWINOIRA “Profitability has been improved by strong local demand and a change in sales mix from …

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Zambezi Gas doubles coal production

Zambezi Gas, a small coal miner in Hwange, has doubled production to 100 000 tonnes per month since it started operating nearly two years ago, the visiting Parliamentary Portfolio Committee on Mines and Energy was told. By VENERANDA LANGA in Hwange Its success contrasts sharply with the decline of the …

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Does bitcoin mining fuel climate change?

Climate Change Jeffrey Gogo A common mainstream media narrative is how bitcoin mining consumes a lot of coal-generated electricity, thereby fuelling climate change. Much less is said about electricity usage involving legacy, monopoly financial institutions like commercial banks. This bias is confirmed by a recent study that has received worldwide …

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Corporates lauded for CSR initiatives

Michael Tome Business Reporter DEPUTY Minister of Industry and Commerce Raj Modi has lauded local companies for partaking in Corporate Social Responsibility activities, without Government mandatory act, showing accountability to the well-being of the nation. Running under the theme “Fostering Corporate Social Responsibility in Zimbabwe to achieve a middle-income economy …

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Tens of thousands die of fake drugs in Africa

When Moustapha Dieng came down with stomach pains one day last month he did the sensible thing and went to a doctor in his hometown of Ouagadougou, Burkina Faso’s capital. The doctor prescribed a malaria treatment but the medicine cost too much for Dieng, a 30-year-old tailor, so he went …

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Funeral assurers defy IPEC directive

Golden Sibanda Senior Business Reporter JUST three out of a total of nine funeral assurance companies are compliant with regulatory minimum capital levels, which puts policyholders funds at risk in the event of an operator collapsing, the insurance industry regulator has said. Regulatory authority is worried that undercapitalised funeral assurance …

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