Business

Treasury Projects $390bn Revenue

Government projects revenue collections for 2021 to reach $390,8 billion, representing 16,4 percent of the country’s total Gross Domestic Product (GDP). Presenting the 2021 National Budget yesterday, Finance and Economic Development Minister Professor Mthuli Ncube, said this will be underpinned by the anticipated increased economic activity especially in mining and …

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Company Eyes Beitbridge Commercial Flights

TOPPICK Investments, which has invested US$2,5 million in Beitbridge, has approached the Government for authorisation to spruce up the district airstrip and introduce commercial flights from the border town, Victoria Falls and Harare. The company’s director, Mrs Saliwe Marema, said the initiative was part of their bigger plan to transform …

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Mining Capitalisation Critical

THE Government has allocated $1, 4 billion to the Ministry of Mines and Mining Development as it seeks to better coordinate the envisaged growth expected in the mining sector in 2021. Presenting the 2021 National Budget, Finance and Economic Development Minister Professor Mthuli Ncube, said the mining sector is projected …

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Investor Injects Us$1,5m Into New Hwange Lodge

A LOCAL investor has invested US$1,5 million towards construction of a new upmarket lodge in Matetsi area — 40km outside Victoria Falls. The new facility, Motsamai Safari Lodge, will cater for both domestic and international clients and is a sister unit to Motsamai Lodge in Bulawayo, which is run by …

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Econet Marginally Adjusts Bundle of Joy Tariffs

Econet Wireless Zimbabwe (Econet) this week marginally adjusted its voice bundle tariffs in a bid to guarantee continued delivery of acceptable service to its customers. The telecommunications giant, which has invested over US$1,3 billion in infrastructure since 2009, told customers in a notice that it would “review its Bundle of …

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Edgars Forecasts Growth Into Q4

Listed clothing retailer, Edgars Stores Limited forecast to maintain growth trajectory into the fourth quarter of its financial year on the stability of the macro-economic conditions. Following implementation of the Covid-19 induced lockdown, businesses such as clothing retailers suffered from lost trading hours as they were not deemed essential service …

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Nds1 Zeroes in On Value Chains

The National Development Strategy (NDS1), the Government’s new economic policy through to 2025, is targeting rebuilding Zimbabwe’s once vibrant industrial base, after decade long economic challenges that caused many firms to fold, with the majority of those that survived relocating to Harare. Prior to year 2000, the NDS1 document says, …

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Cimas Introduces More Forex Medical Aid Packages

CIMAS Medical Aid Society has introduced three new foreign currency medical aid packages, intended to give those able to pay for medical aid from a domestic nostro account access to healthcare services. The company said membership contributions for the three new packages, dubbed ‘Secure Packages’ will be paid from the …

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Forex Currency Allotments At Auction Reach Record U.S.$32m

Foreign currency allotments at yesterday’s auctions reached a record US$32,95 million, with both the main auction and the SME auction setting new allotment records in their sector, while the Zimbabwe dollar remained stable, easing a marginal 0,12 percent to trade at $81,81 to the US dollar. Despite the minute weekly …

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