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Govt promotes renewable energy investment

GOVERNMENT is considering a number of incentives to attract investment in renewable energy as part of efforts to ease power challenges that the country is facing, a Cabinet Minister has said. Energy and Power Development Minister, Fortune Chasi, said Government was focusing on promoting investment in renewable energy. “This is …

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Interbank trades hit US$5m daily

Ishemunyoro Chingwere Business Reporter Over US$5 million is now being traded daily on the interbank foreign exchange market as business confidence on the platform continues to grow. President Mnangagwa revealed these statistics in his key note address at the Heroes Day commemoration in Harare yesterday. The President said Government is …

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Referral system costs Zim US$400m annually

ZIMBABWE has been losing US$400 million annually through the referral system, at a time the nation was in dire need of the foreign currency, Finance and Economic Development minister Mthuli Ncube has said. BY MTHANDAZO NYONI Referral, according to World Health Organisation, can be defined as a process whereby a …

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Direct market access: Summary highlights

Direct Market Access (DMA) enables traders to submit buy or sell orders directly to the order book of an exchange. In the traditional method of placing a trade, your securities dealer requests quotes from market makers and then presents the best quote, at any one time. Equities are one of …

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Decades of unprecedented negative financial yields

Something is occurring in the global credit markets that is quite likely unprecedented in financial history. The amount of negative yielding bonds has recently registered an all-time high – pushing beyond $12 trillion and now above the previous record set in 2016. Lenders are paying borrowers for the ‘‘privilege’’ of …

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How has SA’s agric sector performed?

We can have different views about the agricultural policies that the South African government adopted since the dawn of democracy, but the one thing we can all agree on, I hope, is that the sector has grown tremendously. Importantly, this expansion was not driven by a few sectors but has …

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‘Lithium offtake talks ongoing’

Tawanda Musarurwa Senior Reporter ASX-listed mining group, Prospect Resources, says offtake discussions for lithium from its Arcadia project are underway and will continue for the life span of the mine. This comes as a low iron petalite report from leading market analysis firm Benchmark Mineral Intelligence recently, confirmed premium pricing …

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High costs take toll on Carousel

Prosper Ndlovu recently in Gaborone, BOTSWANA A combination of escalating production costs and ageing machinery has eroded the viability of Edgars Stores’ manufacturing unit, Carousel, resulting in the business trimming its workforce to about 400 from a peak of 1 500. Although the company still produces high quality products with …

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Tough rebate conditions for firms

Business Reporter Beneficiaries of electrical manufacturers rebate facilities will have to provide full particulars of all the benefits achieved in the use of the facility, failure to do which shall see the rebate immediately withdrawn and a penalty imposed, according to a Government Gazette published last Friday. In his 2019 …

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