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Capex for Zim platinum sector to reach $132m in 2017

HARARE  –  Zimbabwe’s capital expenditure in the platinum sector rose 12 percent to $66 million in 2016 and should double this year, according to the Thomson-Reuters’ GFMS Platinum Group Metals Survey 2017 Last year, the capital expenditure for the sector was largely driven by the re-development work at the country’s …

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German envoy urges Zim to deal with investment policy inconsistencies

HARARE  –  German Ambassador to Zimbabwe, Dr  Thorsten Hutter yesterday said Government should address policy  inconsistencies for it to attract new investment. Appearing before the Parliamentary Portfolio Committee on Foreign  Affairs, Dr Hutter said German companies are keen to invest in Zimbabwe  but policy inconsistencies were a hindrance. “Zimbabwe is …

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CBZ income up 7pct to $38mln in Q1 on increased business

HARARE, May 11  (The Source) – CBZ Holdings’ income in the first quarter to March increased 7 percent to $37,7 million, driven by a surge in business in the three month period. In an update after the group’s annual general meeting on Thursday, chief executive Never Nyemudzo said business volumes …

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Competition watchdog probes Zesa, CAFCA barter deal

HARARE, May 11 (The Source)- Zimbabwe’s competition watchdog has opened an investigation into a case of suspected anti-competitive behaviour between the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) and CAFCA. ZETDC is a subsidiary of power parastatal Zesa. Cable maker CAFCA entered into a barter trade deal with ZETDC whereby …

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BAT Q1 performance flat, expects stronger H2

HARARE, May 11 (The Source) – Cigarette maker BAT said its first quarter performance was generally flat compared to the comparative period last year, but expects a strong second half anchored by investments in the company’s core brands, which enjoy close to 70 percent market share. BAT chief executive Clara …

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Innscor seeks to delist Colcom

Business Reporter INNSCOR Africa Limited group plans to delist one of its divisions, Colcom Holdings from the Zimbabwe Stock Exchange (ZSE). Colcom has been listed on the ZSE since 1993. In a cautionary statement, Colcom company secretary Mr Andrew Lorimer said yesterday that directors have received notification from its major …

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Zim-Asset brings smiles to Umzingwane

Former educationist Mr Alson Mbuyazwe shows off a maize cob from his field where he is expecting to harvest more than 15 tonnes at a field day held at his homestead in Terrelyne area, Umzingwane District on Tuesday Kiyapili Sibanda, Business Reporter THE Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim-Asset) …

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Seychelles clears way for Mzembi

Minister Walter Mzembi SEYCHELLES has withdrawn its candidate Alain St Ange from elections to choose the next secretary general of the United Nations World Tourism Organisation (UNWTO). The elections, in which Tourism and Hospitality Industry Minister Walter Mzembi is participating, are on in Madrid, Spain, tomorrow. Seychelles, an African Union …

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8 000 SMEs utilise open window

Minister of Small to Medium Enterprises and Co-operative Development, Sithembiso Nyoni Lovemore Zigara, Midlands Correspondent OVER 8 000 small to medium enterprises (SMEs) have taken advantage of the window opened by the Government to register their business with the Zimbabwe Revenue Authority (Zimra) and formalise their operations. Finance and Economic …

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Q1 miss. . . Byo power station misses upgrade deadline

Bulawayo Thermal Power Station Oliver Kazunga, Senior Business Reporter THE $87 million Bulawayo Thermal Power Station rehabilitation project has missed the first quarter 2017 commencement deadline. The Government secured $87 million lines of credit from India last year for the refurbishment of the thermal power plant, which was built 60 …

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