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Shepco Group plans $2 million capex

BY MTHANDAZO NYONI SHEPCO BMA Fasteners, a division of Shepco Group, is planning to invest about $2 million into the factory, but their main challenge was the unavailability of raw materials locally, an official has said. Shepco Group chief executive Shepherd Chawira told NewsDay that following the demise of Zisco …

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Investors keen on Mat’land – CZI

BY MTHANDAZO NYONI THE Confederation of Zimbabwe Industries (CZI) says investors have shown a lot of interest to invest in Bulawayo and help restore the city to its status as the country’s manufacturing hub. Once the country’s industrial hub, Bulawayo, has suffered chronic de-industrialisation effects over the past two decades, …

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First Capital keeps intact loan book

BY THOMAS MUPFUKA FIRST Capital Bank, formerly Barclays Bank Zimbabwe’s managing director, Sam Matsekete, says the bank’s loan book has not been affected by the floating of the quasi-bond note currency as most of their borrowings were in local currency. Speaking on the sidelines of the bank’s analysts briefing for …

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Mauritian investors eye Zimbabwe

Africa Moyo Senior Business Reporter MAURITIAN companies are in Harare to explore business opportunities, citing an improved investment climate since the coming in of President Mnangagwa. Head of delegation Uttum Rughoobur, who is the Economic Development Board (Mauritius)’ senior investment executive – Logistics, Air and Sea, told The Herald Business …

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Govt moves to boost gold deliveries

Ishemunyoro Chingwere Business Reporter THE Ministry of Mines and Mining Development is stepping up efforts to boost gold deliveries to the state buying entity, Fidelity Printers and Refineries (FPR), in a bid to shore up deliveries and beat this year’s target. Government this year set a 40-tonne gold delivery target …

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Nedbank Mutare Branch Bank Tellers in U.S.$80,000 Fraud

Mutare — Three Nedbank Zimbabwe employees stationed at a bank branch here Thursday appeared before a Mutare magistrates’ court facing charges of swapping depositors US dollar bank balances with electronic money (RTGS). The suspects, Stella Nyabadza, Yuhzel Mumba and Stanley Mabiza reportedly prejudiced the bank of more than US$80 000. …

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‘Zim not reforming fast’

BY Fidelity Mhlanga The World Bank says Zimbabwe is not reforming fast enough to improve its ease-of-doing business. Authorities in the southern African nation together with the World Bank are working on a reform agenda which seeks to improve transparency, efficiency and regulation. According to the latest World Bank annual …

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Belarus companies to exhibit at ZITF

BY MTHANDAZO NYONI THE Belarusian Chamber of Commerce and Industry will bring in four companies to exhibit at the Zimbabwe International Trade Fair (ZITF) this year as the east European country makes its debut at the fair. In a statement yesterday, the Republic of Belarus said it will introduce its …

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Shepco Group plans $2 million CAPEX

by Fungai Nyaungwa The ZSE rebounded further during the week-ended April12, 2019 on moderate buyers’ aggression leading to a 1,74% uplift in total market capitalisation to $16,548,17 million. The bulls dominated the bears, as all equity benchmarks ended the week in the black. The All Share Index and the Top …

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US-China trade talks spur stock markets

Progress in the US-China trade talks helped propel world stock markets to a 6-month high on Friday and steered investors away from save havens such as the Japanese yen. In early European trades, the pan-region Euro Stoxx 50 futures, German DAX futures and London’s FTSE futures each rose about 0,1 …

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