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Govt fuels gold sector chaos

Government is fuelling corruption tendencies in the gold mining sector by failing to give miners the value of their product, Finance and Economic Development deputy minister Terence Mukupe has said. BY MTHANDAZO NYONI Giving his keynote address at the CEO Africa Roundtable discussion held in Bulawayo last week, Mukupe said …

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Ecobank rolls out $150m letter of credit lines

Ecobank Zimbabwe has rolled out over $150 million worth of letters of credit lines into the Zimbabwean market in the last eight months as the bank moves to support the economy. BY BUSINESS REPORTER Ecobank Zimbabwe board chairman, Fortunate Chisango said yesterday the move was with support from its international …

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Tourism leads brand Zim campaign

At a local upmarket hotel, guests emerge with T-shirts emblazoned Zimbabwe is open for business. This is the new mantra adopted by President Emmerson Mnangagwa’s administration to lure investors after sweeping to power with military backing in November last year. By NDAMU SANDU The drive to rebrand the country has …

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President Challenges ZCDC

President Mnangagwa has challenged state diamond mining entity, Zimbabwe Consolidated Diamond Company (ZCDC) to upscale production and increase its contribution to the livelihoods of people living in the community it operates in as well as fiscal contribution. The President’s call comes hard on the heels of similar sentiments by Mines …

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Seed Co Assist Garanganga

By Ellina Mhlanga Top Zimbabwean tennis player Takanyi Garanganga finally got some recognition for his efforts when he received $5 000 from Seed Co yesterday at their plant in Stapleford to assist in his upcoming international tournaments. Garanganga has been in the country for some time, playing in the just-ended …

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Cotton Farmers Dump Private Merchants

Several cotton farmers are dumping contract schemes by private merchants saying they have long been short-changed through inadequate supply of inputs. Farmers in Checheche, one of the country’s largest cotton growing area in Manicaland Province, told this newspaper that they have for long been short-changed by private firms, which have …

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8 Tonnes of Gold Deals in Informal Market

An estimated eight tonnes of gold deals worth close to $300 million are conducted in the informal market with the precious mineral being smuggled to mainly neighbouring South Africa, a senior Government official has said. Addressing business executives at the CEO Africa Roundtable meeting held at a local hotel in …

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$5m Diamond Cash for Manicaland Folk

Government yesterday handed over $5 million for the revitalisation of the Marange-Zimunya Community Share Trust as President Mnangagwa’s administration fleshes out empowerment projects to ensure ordinary people benefit from diamond proceeds. In 2012, diamond mining companies operating in Chiadzwa, Manicaland, pledged $50 million towards the Marange-Zimunya Community Share Trust, but …

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‘Councils major debtors to ZETDC’

Sukoluhle Ndlovu Midlands Correspondent LOCAL authorities owe close to 70 percent of the more than $1 billion consumer debts to the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), an official said. Addressing delegates attending the ZETDC Southern and Western regions 2019 energy management symposium recently, ZETDC commercial director Engineer Ralph …

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Agritrade to contract 5 000 farmers

Munashe Matambo Business Reporter Tobacco contractor, Agritrade is planning to support over 5 000 small scale farmers in the next cropping season from 4 000 after recording its best season this year. This comes when Zimbabwe’s tobacco output is projected to surpass the targeted 200 million kilogrammes, hence the Agritrade’s  …

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