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PPC turns to solar as power cuts bite

IN anticipation of rising energy costs and the challenge of sustainable supply across Africa, regional cement maker PPC is considering implementing solar photovoltaic (PV) at its factories starting with its factories in Bulawayo and Colleen Bawn (West Nicholson). BY MTHANDAZO NYONI In its 2019 environment and energy supplementary report, PPC …

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Zimbabwe after Mugabe: Dashed hopes and economic chaos

WHEN Robert Mugabe (pictured) was deposed as Zimbabwe’s President in 2017, Karen Sundirai was convinced the country would quickly recover from years of economic turmoil and authoritarian rule. Reuters Nearly two years later, the 36-year-old bank teller speaks of dashed hopes and expresses reverence for Mugabe, who died on Friday …

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Dairibord Capital Expected to Fall

By Melody Chikono Milk and dairy products producer Dairibord Zimbabwe’s working capital position is projected to deteriorate with margins softening from 2019 as a result of limited access to foreign currency on the interbank market with the company unable to pass on the cost of goods to the consumer without …

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Gold Deliveries Decline

Gold deliveries to Fidelity Printers and Refiners plunged sharply in June this year, owing to a lack of confidence among small-scale miners — the biggest producers — following government’s decision to outlaw the multi-currency system. Kudzai Kuwaza A schedule of deliveries seen by the Zimbabwe Independent shows that the total …

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Legacy Debts Haunt Firms

By Melody Chikono The viability of several companies is under serious threat as a result of legacy debts denominated in foreign currency following far-reaching currency reforms by government in June. Some half-year financial results for 2019 show that delays by the Reserve Bank of Zimbabwe (RBZ) and banks in settling …

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Let’s Stop Xenophobic Insanity

By Dumisani Muleya For South Africa to address the recurrent problem of xenophobia and afrophobia, the answers — ironically — partly lie in the experiences of the countries currently complaining bitterly over the attacks on foreign nationals there, mainly Nigeria. Historically and theoretically, xenophobia has its roots in colonialism: how …

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Bat Fails to Repatriate U.S.$15 Million

By Nyasha Chingono The country’s biggest cigarette manufacturing company, British American Tobacco (BAT) Zimbabwe, says it failed to repatriate US$15,1 million in offshore dividends during the previous financial year, compounding its liabilities, as the foreign currency crisis worsens, the Zimbabwe Independent can report. This comes after BAT Zimbabwe registered its …

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Zimnat, Access Finance Seal Deal

Insurance services firm, Zimnat, says it has struck a partnership deal with bureaux de change operator, Access Finance, for provision of key services to their clients. Under the arrangement, Zimnat customers can now obtain bureau de change services at selected Zimnat branches across the country. “The establishment of bureau de …

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Civil Servants Start Receiving COLA Payments

By Africa Moyo and Farirai Machivenyika GOVERNMENT has started paying cost of living adjustments (COLA) to civil servants, with health workers becoming the first group to receive their dues yesterday. The health workers’ COLA was agreed on after a Health Service Bipartite Negotiating Panel (HSBNP) met on August 28, 2019. …

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