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Insurance industry to unveil new framework

Enacy MapakameThe insurance industry will soon unveil a new policy framework as part of efforts to achieve a 20 percent insurance penetration in 2020, as espoused in the Government’s Transnational Stabilisation Programme (TSP). The TSP highlights some stringent industry licensing requirements, which hinder growth of the insurance sector in Zimbabwe. …

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Industrialists want access to forex market

Africa Moyo Senior Business Reporter THE Confederation of Zimbabwe Industries (CZI) insists the economy will not collapse so long as Government allows manufacturing firms to buy enough foreign currency to import needed inputs. Most manufacturers need some imported raw materials even when most of their costs are incurred in Zimbabwe. …

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Emirates Appoints New Head for Zimbabwe

Emirates Airline has appointed a new manager for Zimbabwe, the Dubai-based airline confirmed Thursday. Nasser Bahlooq’s appointment was one of several across its Africa and Middle East operations. Bahlooq has previously managed the airline’s commercial activities in Yinchuan, China and most recently Yangon, Myanmar, where he supported the launch of …

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U.S.$ Pricing Will Hit Demand and Lead to Job Losses – Experts

By Alois Vinga BUSINESS and economics experts have condemned pricing in foreign currency, warning that the development will reduce product demand and forcing companies to operate below capacity which will ultimately trigger job cuts. The comments at a time some retail outlets and manufacturers like Simbisa Holdings have come out …

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Companies to Collapse in 30 Days

By Melody Chikono and Chipa Gonditii Many manufacturers could be forced to halt operations if government fails to arrest the crippling currency crisis within the next 10 days as most companies are left with less than a month’s stock of raw materials, the Confederation of Zimbabwe Industries (CZI) has warned. …

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Industry engages Govt

Africa Moyo and Bernard YombayombaGOVERNMENT is working towards resolving production bottlenecks in the manufacturing sector that have seen high prices for several products and shortages in some cases. This comes as industrialists engaged Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu on Wednesday and submitted a report of the issues affecting …

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Firm launches ICT fuel management system

Ishemunyoro Chingwere Business ReporterA FUEL solutions technology company, Garage and Forecourt (Pvt) Ltd, is rolling out an ITC based fuel management system that it argues might be panacea to manual and less accurate fuel gauging and management currently dogging service stations. According to managing director Omalli Jani, the new system …

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Manufacturers favour tuckshops paying forex

Africa Moyo Senior Business ReporterGOVERNMENT’S battle to provide lowly priced products to citizens could be futile as long as manufacturers continue to deliver goods to traders in the informal sector, particularly the tuck shops in downtown Harare, which largely operate outside the tax system. Manufacturers have come under fire in …

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SA waste management firm keen to invest in Zim

Business ReporterA SOUTH African company, Mashana Business Enterprises — whose representatives met President Mnangagwa at the World Economic Forum in Davos, Switzerland last year — has approached Government with a US$327 million investment kit for waste management. The group’s representatives held meetings with Government and yesterday met stakeholders in the …

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SA rand stable

JOHANNESBURG. — South Africa’s rand held steady in early trade yesterday, with the dollar subdued and markets hopeful that an all-out U.S.-China trade war could be averted. At 0731 GMT, the rand traded at 13.8775 versus the US currency, 0,1 percent weaker compared to its previous close. The rand was …

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