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RBZ raps banks over imports priority list

Harare Bureau THE Reserve Bank of Zimbabwe has rapped banks for not strictly adhering to the import priority list in allocating foreign currency, describing their conduct as “indiscipline” and a “failure” of the market to make positive impact on the economy. RBZ governor Dr John Mangudya said the fact that …

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Zesa rejects chrome miners’ tariff request

Golden Sibanda, Harare Bureau Zesa Holdings has rejected a proposal by chrome miners for a further reduction of the power tariff levied on the industry by between 40 and 55 percent citing high operating costs. Consumers of electricity pay an average of 9,83 cents per kilowatt hour, but strategic economic …

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RBZ ultimatum to building societies

RBZ Governor John Mangudya Senior Business Reporter THE Reserve Bank of Zimbabwe (RBZ) has given building societies up to March 31, 2017 to submit detailed plans on housing development projects they intend to embark on between now and next year. In the 2017 Monetary Policy statement presented last week, RBZ …

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Minister calls on farmers to take advantage of ZITF

ZITF Business Reporter THE Government has called on farmers to participate at the upcoming Zimbabwe International Trade Fair (ZITF) and take advantage of the trade showcase to penetrate the export market. This year’s trade fair will be held from April 25 to 29 under the theme, “Harnessing Linkages for Industrial …

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‘2017 trade deficit to fall 35 percent’

Desire Sibanda The Government is anticipating a 35 percent decline in the country’s trade deficit to $1,537 billion by the end of this year. The 2016 trade deficit figure reached $2,833 billion, which was higher than previously  estimated despite a number of interventionist measures implemented during the course of last …

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Will the road network cope with grain movement?

Conrad Mwanawashe Bumper Harvest IN the last few months I had the privilege of travelling to different parts of the country starting with the Eastern Highlands, Manicaland and Mashonaland East and was struck by the deplorable state Zimbabwe’s roads are in. From the tea estates in the Eastern Highlands in …

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Satellite-based flood monitoring boosts disaster response

Jeffrey Gogo Climate Story SINCE last October, torrential rains have pounded much of Zimbabwe, causing rivers, including Save, the country’s biggest, to overflow, with dozens of dams spilling, and thousands of acres of cropland swamped. By the first week of February, more than 100 people had died, over 1 000 …

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