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Project Crystal to rescue Hippo Valley

Fradreck Gorwe Zimbabwe Stock Exchange listed sugar producing company – Hippo Valley Estates – is geared to pursue a game-changing turnaround strategy code named “Project Crystal.” The holding company, Tongaat Hulett, promulgated the strategy meant to reduce costs, increase value and reposition all sub-Saharan operations and bring them back to …

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Telcos Revenue Up

By Tawanda Musarurwa Combined revenues for the country’s three mobile telecommunications companies rose by 121 percent from $375 million to record $828,8 million as upward adjustments in tariffs shielded the sector from inflationary pressures. This was revealed in the latest Postal and Telecommunications Regulatory Authority (Potraz)’s sector report for the …

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Emirates Doubles Export Cargo

The volume of export cargo carried by aviation giant, Emirates Airline’s cargo division SkyCargo from Zimbabwe, nearly doubled to 2 000 tonnes between 2017 and 2019, a senior official said. Figures released by the global airline show that Emirates’ cargo division transported 2 009 tonnes of goods from Zimbabwe from …

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Mobile money transactions double in Q3

MOBILE money transactions grew 91% to $11 888 760 224 in the third quarter of the year owing to the increase in the cost of goods and services as well as users. BY BUSINESS REPORTER According to the newly-released Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) 2019 third-quarter report, …

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Invictus signs 500MW gas to power plant MoU

INVICTUS Energy Limited (IEL) has entered into a non-binding memorandum of understanding (MoU) with local energy firm Tatanga Energy (Private) Limited for a 500-megawatt (MW) ‘Gas to Power Plant’ estimated to cost about US$800 million. BY TATIRA ZWINOIRA Tatanga Energy was established in 2016 by a group of local finance …

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Starafricacorporation sugar production declines 10%

Sugar manufacturer, Starafricacorporation Limited (SL) posted a 10,5% decline in refined sugar tonnes produced for its Goldstar Sugars Harare (GSSH) business to 32 047 tonnes for the half year ended September 30, 2019 due to power cuts. BY MISHMA CHAKANYUKA The decrease in manufactured sugar was from a comparative period …

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Govt Licenses Zim-China Joint Venture to Construct 50mw Thermal Power Plant

Zimbabwe, currently grappling severe power shortages, has licensed a joint venture between Zimbabwean and Chinese investors to establish a 50 megawatts coal-fired power plant. Energy regulator the Zimbabwe Energy Regulatory Authority (ZERA) announced the joint venture Zimbabwe Zhongxin Electrical Energy Private Limited (ZZEE) with Zhongxin Electrical Energy Private Limited on …

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Euronext wheat eases

PARIS. — Euronext wheat futures edged lower on Wednesday as a pullback in Chicago encouraged the Paris market to consolidate below a two-week high struck earlier this week. Physical premiums in western Europe were steady, however, with support from export demand and logistical difficulties linked to strikes in France over …

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