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Willdale records 8pc revenue rise

Kumbirai Tarusarira Average price increases managed to offset a drop in volumes by the Zimbabwe Stock Exchange (ZSE) brick making firm, Willdale, after it recorded an 8 percent jump in revenue for the year ended September 31, 2019. The brick company reported turnover surge of 8 percent to $65 million …

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Small business stories that inspired in 2019

Joseline Sithole The Minister of Finance and Economic Development Professor Mthuli Ncube assured the nation that austerity measures are over and we can look forward to a better 2020 though we still have a lot of work ahead of us. According to The Herald’s sister paper the Business Weekly “. …

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‘Survival’ top priority: Huawei

Chinese telecommunications giant Huawei said yesterday that “survival” was its top priority after announcing 2019 sales were expected to fall short of projections as a result of US sanctions. The global leader in telecom networking equipment has been effectively banned by the United States from working with American firms on …

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Cassava reports maiden results post de-merger from Econet

Herald Business Zimbabwe Stock Exchange Listed entity, Cassava Smartech Zimbabwe Limited (CSZL), which has business interests in mobile money, digital banking, insurtech and on-demand services, reported revenue of ZW$946 million for the half year ended August 31, 2019. The published results are inflation-adjusted, in line with International Accounting Standard 29 …

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Oil steady

SEOUL. — Oil prices held steady on the final day of the year yesterday, heading for their biggest annual rise since 2016, supported by a thaw in the prolonged US- China trade dispute and supply cuts. Brent crude futures for March delivery LCOc1, the new front month contract, were at …

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ZCDC, Alrosa sign joint venture agreement

Bulawayo Bureau THE Zimbabwe Consolidated Diamond Company (ZCDC) and Russia’s diamond producer, Alrosa, have signed agreements to finalise the creation of a joint venture (JV) to prospect and explore minerals deposits locally. Last July, ZCDC and the world’s top diamond producer by volumes, Alrosa, signed a memorandum of agreement to …

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Afreximbank regional office construction commences

Business Reporter Construction of African Export-Import Bank (Afreximbank)’s Southern Africa Regional and Trade Centre head office in Harare is set to commence soon following the continental financial institution’s invitation of expressions of interest from contractors to build the complex. To be built on a 12 000 square meters of land …

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Delta in sharp volumes decline

Kumbirai Tarusarira DELTA Corp, Zimbabwe’s largest beverage maker, has reported a massive decline in volumes across all its segments for the quarter ended September 30, 2019 as consumers cut spending on less basic commodities on the back of reduced disposable incomes. Zimbabwe has been grappling with rocketing inflation since the …

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Econet laments lack of investment in telcoms

Kumbirai Tarusarira ECONET Wireless – Zimbabwe’s largest mobile operator – yesterday warned that lack of adequate investments in its telecoms infrastructure due to prevailing foreign currency shortages will result in deterioration in the quality of its service. Of late, there has been a growing consumer complaints about poor service delivery …

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Reach out to farmers to cut expenses, banks advised

Noah Pito Financial institutions supporting agriculture have been implored to conduct outreach programmes as a way of cutting travelling expenses for Hurungwe farmers wishing to apply for loans. Officiating at a Business Expo held at Magunje Growth Point recently, Minister of State for Mashonaland West Province, Mary Mliswa Chikoka, said …

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