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Xenophobia worries industry

Golden Sibanda Senior Business Reporter The Confederation of Zimbabwe Industries (CZI) has expressed concern over the recent outbreak of xenophobic attacks in Durban, South Africa, saying local business were at risk given that they use the Durban port for key imports. Violent attacks by South Africans on foreigners living and …

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Govt to deepen financial inclusion

Africa Moyo Senior Business Reporter GOVERNMENT will continue to work towards promoting financial inclusion to ensure every citizen has access to banking. This was said by Finance and Economic Development Minister Professor Mthuli Ncube yesterday in an interview with The Herald Business. Prof Ncube’s sentiments come as Zimbabwe joined the …

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Ndlovu Speaks On Currency Rate

The formal RTGS$ rate to the US dollar will converge with the parallel market rate in the short term and halt the inflationary pressure being exerted on the economy, according to Industry and Commerce Minister Mangaliso Ndlovu. The interbank rate opened on February 22 at a rate of 1: 2.5, …

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Credit to Zim’s Private Sector Up 9 Percent

Despite recurrent currency instability in the country, Zimbabwe’s financial institutions have seen their credit facilities extended to the private sector register an annual growth of 9.12 percent in what players hope could help resuscitate local industry. This is according to the latest Reserve Bank of Zimbabwe economic monthly update. The …

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Zinara Pays Us$589k to Non-Existent Firm

The Zimbabwe National Roads Administration (Zinara) paid out over half a million United States dollars to a non-existent company between 2012 and 2013 under its “special projects arrangement”, investigations have revealed. An audit by Grant Thornton shows that cumulatively, Zinara paid Bermipools US$589 748, 94 in two years. Grant Thornton …

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It’s Right Time to Engage Zim – EU

Zimbabwe stepped up its re-engagement efforts with the European Union on Saturday after the EU’s managing director for Africa Mr Koen Vervauke met senior Government officials to deliberate on several issues to boost relations. Mr Vervauke, who is one of the top EU diplomats in Africa, held talks with Justice, …

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Farmers urged to venture into berries

Zimbabwean farmers should venture into farming berries and take advantage of the existing market opportunities for the product, an industry official has said. A senior expert consultant, Kees Van’t Klooster, who recently visited the country under a long-standing memorandum of understanding between ZimTrade and Netherlands’ PUM which provides expert advice …

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