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$85m PPC Harare cement plant commissioned

President Robert Mugabe today commended PPC for positively contributing to the economic growth of the country and adhering to the country’s laws. Officially commissioning the cement manufacturer’s $85 million state of the art plant in Msasa, Harare, which has an annual capacity of 700 000 tonnes and has created 87 …

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‘We’ve made industry attractive’

By Own Correspondent Confederation of Zimbabwe Industries president, Busisa Moyo BUSISA Moyo (BM) is well known for his role as president of the Confederation of Zimbabwe Industries, the country’s biggest industrial lobby group. Yet he has for many years been at the helm of one of the country’s largest fast …

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World Bank warns of gold price decline

By Own Correspondent Deputy Minister of Mines, Fred Moyo By Nyasha Chingono …Zimbabwe unfazed by forecast GOLD prices are expected to hit a two-year low, trading at under US$1 000 an ounce this year owing to projected low demand from jewelleries, industries and retailers at the back of a stronger …

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Foreign airlines hit hard by currency crisis

By Shame Makoshori, Senior Business Reporter Tourism and Hospitality Industry Minister, Walter Mzembi ….US$30 million trapped in Zim INTERNATIONAL airlines have been caught up in Zimbabwe’s foreign payments gridlock and are failing to repatriate close to US$30 million locked in domestic banks, the Financial Gazette’s Companies & Markets (C&M) can …

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Devaluing by stealth

By Own Correspondent Reserve Bank of Zimbabwe building By Eddie Cross SINCE the end of 2015, the country has seen its cash crisis escalate to the point today when banks cannot pay out clients more than a small proportion of what is in their accounts. In a “normal” economy this would …

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