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Zimbabwe: Municipal Worker Slapped With Three-Year Jail Term

By Tafadzwa Zimoyo A Chitungwiza Municipality worker was sentenced to three years in prison for teaming up with his two accomplices to rob a man of his Samsung Galaxy Z2 mobile phone and $200 cash. Evans Nakiwe (26) was convicted on his own plea of guilty when he appeared before …

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Zimbabwe Banks Won’t Lend to Black Farmers, Land Minister Says

By Desmond Kumbuka and Brian Latham (Bloomberg) —  Most Zimbabwean banks aren’t lending to black farmers settled on formerly white-owned land because they’re concerned that the 99-year leases won’t be honored or may be challenged, Lands Minister Douglas Mombeshora said. Only three of Zimbabwe’s 11 registered banks have lent money to new black farmers, Mombeshora told …

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Datlabs challenges hit Adcock Ingram profit

BULAWAYO, February 22 (The Source) – South African pharmaceutical group Adcock Ingram says its businesses in Zimbabwe and Kenya have continued to under perform, cumulatively incurring a trading loss of $69,000 in the six months to December, 2016. The Johannesburg listed company has interests in flagging Bulawayo-based pharmaceutical manufacturer and …

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BAT after-tax profit down 45 pct on weak sales

HARARE, February 22 (The Source) – Cigarette maker BAT’s after-tax profit plunged 45 percent to $8.48 million in the full year to December 2016, down from $15.4 million previously after a sharp decline in sales, the company announced on Wednesday. BAT registered a 25 percent decrease in revenue from $45.3 …

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Govt leaves maize prices flat at $390 per tonne

HARARE, February 22 (The Source) – Government has pegged the prices of maize and small grains at $390 per metric tonne, same as last year, the Minister of Agriculture Joseph Made told Parliament on Wednesday. Zimbabwe, a former regional breadbasket turned perennial food importer, has planted 1.2 million hectares of …

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