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MBCA cedes 7,5pc shares to workers

Customers filling out bank slips at an MBCA branch MBCA Bank — the local subsidiary of South African banking group Nedbank — says it has commenced the implementation of an employee share ownership scheme that will result in its workers ultimately taking up a 7,5 percent stake of the local …

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Africa labour experts meet in Victoria Falls

Mr Ngoni Masoka Leonard Ncube in Victoria Falls LABOUR experts from Africa are meeting in Victoria Falls for a weeklong conference aimed at tackling challenges facing workers and addressing issues of forced labour on the continent. The 43rd edition of the African Regional Labour and Administration Centre (ARLAC) governing council …

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Torre rebrands, plans ZSE listing

Kiyapili Sibanda, Business Reporter EARTH moving equipment supplier Torre Zimbabwe has rebranded into Kanu Equipment after bringing in a new investor with plans to list on the Zimbabwe Stock Exchange (ZSE). The ZSE last witnessed a listing last year after close to nine years of initial public offering drought going …

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Zimplats pockets $6,6m export incentive

Oliver Kazunga, Senior Business Reporter ZIMBABWE’S largest platinum producer, Zimplats, has realised $6,6 million in export incentives, boosting the miner’s profit after tax to $16,2 million in the half year ended December 31, 2016. The Reserve Bank of Zimbabwe introduced a 2,5 percent bond notes export incentive scheme for large …

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Kariba station upgrade on course

Oliver Kazunga, Senior Business Reporter CONSTRUCTION work to expand Kariba South Power Station’s generation capacity is progressing well with the first unit expected to start contributing 150 megawatts to the national grid before Christmas, an official said yesterday. When complete, the expansion programme will see Kariba Hydro Power Station adding …

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Zimbabwe: Govt in Drive to Revive Steel Industry

GOVERNMENT has put in motion a comprehensive strategy to establish a robust steel making industry with discussions in progress for the resuscitation of ailing companies within the sub-sector. The strategy, crafted in line with Government’s economic blueprint, the Zim-Asset, will see the development of a steel making industry in the …

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Zimbabwe: Growers Look Forward to Better Prices

By Tatenda Charamba Tobacco farmers yesterday said they were expecting fair prices this marketing season to enable them to reinvest in the production of the lucrative crop. This comes as the 2017 tobacco selling season is expected to open on March 15. Deliveries will start on March 6, while contract …

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Zimbabwe: Tobacco Farmers Lavish Praise On Timb

By Runyararo Muzavazi The increase in the number of tobacco auction floors has triggered cut-throat competition among the players in the sector, a situation that farmers say has brought great improvement in service delivery and the marketing of their crop. Zimbabwe has a total of three licensed auction floors and …

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Zimbabwe: Rains to Persist

Rainfall activity is expected to continue throughout the week, although precipitation levels have decreased from a high of about 223mm to about 50mm in some parts of the country, the Meteorological Services Department (MSD) has said. Speaking to journalists yesterday, a meteorologist with the department Mrs Chenai Sithole attributed the …

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Zimbabwe: Zetdc Sued Over $80k Debt

By Daniel Nemukuyu Zimbabwe Electricity Transmission and Distribution Company (ZETDC), a subsidiary of ZESA Holdings, could lose its property after it failed to settle a debt of $79 457 to a local motor spares firm. Clover Leaf Motors (Pvt) Limited supplied spares and repaired vehicles for ZETDC, but the power …

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