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Foreigners tussle in nasty turf wars

BY MISHMA CHAKANYUKA CONFEDERATION of Zimbabwe Retailers (CZR) president, Denford Mutashu says fights for business control among foreign companies in Zimbabwe was affecting investment prospects in the retail sector. “It has come to our attention that there is a section of foreign-owned businesses that has since ignored its primary mandate …

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RBZ seeks to raise $300m through TBs

BY TAFADZWA MHLANGA GOVERNMENT is seeking to raise another $300 million through Treasury Bills (TBs) to finance its programmes, a month after issuing a sovereign paper with the same amount. In a statement yesterday, the Reserve Bank of Zimbabwe (RBZ) invited financial institutions to subscribe to TBs with half-year maturity …

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Drought-hit Zimbabwe readies mass wildlife migration

by business reporter Zimbabwe is planning an enforced mass migration of wildlife away from a park in the country’s south, where thousands of animals are at risk of death due to drought-induced starvation. At least 200 elephants have already died at two other parks due to lack of food and …

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Top hotelier eyes Bulawayo

BY MTHANDAZO NYONI NEGOTIATIONS between the Bulawayo City Council (BCC) and international hotel group, Radisson Group, for construction of an upmarket hotel in the second city have started in earnest. Radisson Hotel Group, which has more than 1 400 hotels worldwide, recently approached the local authority through Mkhuze Global Investments …

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Sino Africa Sues Mining Firm Over ‘Death Trap’ Operations

By Mary Taruvinga SINO Africa Huijin Holdings (Private) Limited has dragged Yibang Investments Private Limited to court on allegations of encroaching into its mining claim while posing life threatening dangers to their workers and general public due to dangerous mining methods. Also cited as a respondent in the urgent chamber …

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Cyclone Idai Workers Cry Foul Over Unpaid Dues

By Paidashe Mandivengerei Construction workers who were hired to rebuilt classroom blocks and other structures destroyed by the Cyclone Idai disaster in March this year are up in arms with government which has failed to pay them for their services. The harsh tropical storm barrelled through Chimanimani and Chipinge areas …

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Arden Capital should do more to redefine itself

Business Reporter Brainworks Capital shareholders recently approved the change of the group’s name to Arden Capital Limited. Normally, a name change signals a fresh start and this was to be expected given the history of the company and the changes that occurred within its management and shareholding structure. According to …

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Alibaba in new sales record

Chinese e-commerce giant Alibaba set a new sales record on Singles Day, the world’s largest 24-hour shopping event. Gross merchandise value (GMV), a figure that shows sales across Alibaba’s various shopping platforms, surpassed last year’s 213,5 billion yuan record (nearly $30,5 billion) yesterday afternoon, and kept rising through the rest …

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Afdis to localise wine

Afdis says it plans to localise popular wine brands to prop up product volumes which have been seriously waning lately. The spirits making firm’s ingenuity follows dismissal volumes performance by Afdis as aggregate demand slumped by 50 percent in the first quarter to September 2019 across all segments with a …

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