Business

Nhimbe Fresh Struggles to Crack Blueberries Exports

NHIMBE Fresh Produce, Zimbabwe’s leading horticultural firm is struggling to navigate the web of bureaucracy to get an import protocol to export blueberries to China. Chief executive Mr Edwin Moyo told The Herald Finance & Business that the import protocol would pave way for China to do quality checks before …

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Zim Exports Shrug Off Covid-19, Jump 20pc

Zimbabwe’s exports have continued to defy global Covid-19 trade restrictive measures with the country registering a 20,3 percent increase in export earnings in November 2020, from US$439 million in October, national statistical agency, Zimstats said. The jump in foreign receipts was largely attributed to tobacco exports, which peaked towards year …

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Econet Seen Narrowing Losses

ECONET Wireless is seen narrowing losses this financial year before returning to profitability next year as stability in the exchange rate is expected to reduce foreign currency exchange looses, a research firm has said. During this financial year, which ends in February, profitability is likely to remain under pressure as …

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Stanbic Intensifies Safety Against Coronavirus

Leading financial services institution, Stanbic Bank, is banking on its top-notch innovative mobile and internet platforms to ensure its clients are well served throughout the 30-day lockdown. Having just been awarded Best Bank by The Banker in December last year for innovative products that mitigated against its clients and employees …

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Annual Inflation Eases

ZIMBABWE’S annual inflation eased to 348,59 percent in December 2020, compared with 401,66 percent in the previous month, according the Zimbabwe National Statistics Agency (Zimstats). The 348,59 percent figure is above the 300 percent target that fiscal and monetary authorities had projected earlier, but significantly lower than what the International …

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SADC to Promote Skills Transfer

THE Southern African Development Community (Sadc) has adopted a new Labour Migration Action Plan to promote skills transfer and match labour supply and demand for regional integration. The action plan was adopted through the employment and labour sector in the region and in line with Article 19 of the Sadc …

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Nyanhongo Appointed Stanbic Chief

Stanbic Bank has appointed Mr Solomon Nyanhongo as its chief executive with effect from January 1, 2020. He takes over from Joshua Tapambgwa who has been at the helm of the bank for the past 13 years. Mr Nyanhongo joined Stanbic in 2003 as a senior manager, Finance. He was …

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New Forex Rules to Lift Mining

The Chamber of Mines of Zimbabwe (CoMZ) has welcomed the removal of a statutory requirement that compelled exporters to sell their foreign currency earnings in 60 days, saying this will go a long way in affording miners the leeway to plan. The new measures, announced by the Reserve Bank of …

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Ipec to Enforce Compliance On Forex Returns

The Insurance and Pensions Commission (IPEC) is working on enforcing insurance companies’ compliance on the submission of US dollar returns for their foreign currency denominated business. This comes as only three short term insurers submitted foreign currency denominated returns for the nine months to September 30, 2020. The insurance sector …

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