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Govt to set up Zimbabwe Export Council

HARARE – The Government is mulling the establishment of the Zimbabwe Export Council (ZIMEC) as a non-incorporated body to co-ordinate and spearhead the country’s national export drive . In announcing his Monetary Policy Statement last week, Reserve Bank of Zimbabwe Governor Dr John Mangudya said the proposed entity will function …

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Tobacco farmers urged to approach banks for export incentive

HARARE  –  Tobacco farmers who have not yet  received the  5 percent export incentive should approach their  respective banks to resolve the issue, the Tobacco Industry and  Marketing Board (TIMB) said on Sunday. In order to encourage tobacco farmers to increase production, as well  as promote financial inclusion, the Reserve Bank of …

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Accountability, transparency vital in mining sector

Exploitation of Marange diamonds did not translate into expected development Tinashe Makichi Mining Matrix The discovery of diamonds in Marange brought hope to the nation. Revenue from the diamond sector was anticipated to restore macro-economic stability and general social and economic development for the nation as a whole. However, the …

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How Mine ground fall dims Metallon gold output

Metallon Corporation Limited saw its gold output dropping 2% to 94 212 ounces in 2016 on the back of a fall of the ground at its major mine, How Mine, which impacted on production and power supply interruption at all the mines. BY BUSINESS REPORTER In 2015, output was 96 …

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Doctors’ industrial action spreads

THE strike by public hospital doctors, which until yesterday had remained confined to Harare Central, Parirenyatwa and Mpilo Central hospitals, has reportedly spilled over to United Bulawayo Hospital (UBH) amid fears the industrial action could spread to all the country’s provincial health centres. BY STAFF REPORTER Parirenyatwa Hospital. The doctors, …

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MFIs loans lean more towards productive sector

In the past, micro-finance institutions in Zimbabwe were known for being the saviours of financially struggling individuals, to whom they would lend small amounts at extortionist interest rates of as much as 100 percent, particularly in January when many people would have run out of money after the festive season. …

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ZSE launches viewing rights electronic platform

Oliver Kazunga, Senior Business Reporter THE Zimbabwe Stock Exchange (ZSE) has launched an electronic platform that offers subscribers viewing rights to the stock exchange’s live trading from anywhere. ZSE said the electronic platform called View Only Terminals (VOTs) gives informational efficiency in the local capital market. “The ZSE advises that …

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SAZ sounds warning on bottled water

Patrick Chitumba, Midlands Bureau Chief THE Standards Association of Zimbabwe (SAZ) has warned consumers against buying bottled water without a seal of approval by the standards body. With the proliferation of water bottling enterprises on the market, SAZ acting director general Mr Cyril Siringwani said uncertainty has gripped many consumers …

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Govt moves to revive NRZ

Minister Joram Gumbo Harare Bureau The Government has acquired 31 rail wagons worth $2.9 million as it moves to recapitalise the National Railways of Zimbabwe, a Cabinet minister has said. Transport and Infrastructural Development Minister Dr Joram Gumbo said the recapitalisation of the NRZ also included track, signalling and telecommunications …

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Insurance uptake lowest in years, says expert

Mr Ngwerume Business Reporter ZIMBABWEAN businesses and individuals have been urged to seek insurance cover to mitigate losses associated with risks and facilitate long term economic growth. Insurance expert Mr Luke Ngwerume said the country’s insurance penetration rate is at its lowest in years, at about 1.5 percent, according to …

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