Business

Positive Discoveries Bode Well for Bravura Platinum Project

Resource confirmation work ongoing at Bravura Zimbabwe (Pvt) Limited’s platinum project in Mashonaland West province, is unearthing investment compelling data that is expected to give impetus to the mining venture, mine management has said. Bravura Zimbabwe (Pvt) Limited signed a platinum mining project with the Government of Zimbabwe last year …

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Covid-19 Chews Truworths Earnings

Listed clothing retailer, Truworths Zimbabwe earnings for the year to July 12, 2020, took a dip due to Covid-19 induced restrictions to trade. During the second half of the year under review the country was in a lockdown, which was effected on March 30, 2020 as part of efforts to …

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Natfoods to Maintain Growth Path

National Foods Limited (Natfoods) is projected to maintain a growth trajectory in the financial year 2021 supported by its strong business which is anchored on staples. This is despite the obtaining challenging environment, carried over from the previous financial year, worsened by Covid-19 which caused disruption to production across sectors. …

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Positive Sentiment Returns to ZSE

POSITIVE sentiment has returned on the Zimbabwe Stock Exchange (ZSE), helping to drive activity on the market, as the bourse closed in the black led by the biggest counter, CBZ. This saw three of the benchmark indices close pointing northwards during the week to Wednesday. The primary indicator, the ZSE …

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Econet Registers $6,8bn Revenue Growth

ZIMBABWE’S largest mobile network operator, Econet Wireless Zimbabwe registered a $6,8 billion growth in revenue, but slid into a $1,3 billion loss for the year to February 29, 2020, from a profit of $680 million in the prior year weighed down by foreign exchange losses. Group chairman Mr James Myers …

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Revamping Ailing SOEs Gets Top Priority From Cabinet

THE Government has deliberated extensively on ways to enhance the performance of State Owned Enterprises (SOEs) and a decision has been taken to establish an inter-ministerial committee to consider the matter. This was revealed by Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa while briefing journalists during the weekly post-Cabinet …

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Egg Imports to End Chicks Crisis

THE Confederation of Zimbabwe Industries (CZI) says it expects the acute shortage of day-old-chicks to improve significantly after the Government put in place statutory provisions for the importation of nearly 9,5 million fertilised poultry eggs. Demand for day-old-chicks, a major source of income for companies and individuals in Zimbabwe given …

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Zesa Starts Clearing Coal Producers’ $1,2bn Debt

State — owned power utility, Zesa Holdings, has started paying coal miners after the debt ballooned to over $1,2 billion over the past few months. The surging debt was beginning to affect coal supplies to Zesa’s major thermal power stations, including Hwange, with the suppliers indicating seriously incapacitation. Zesa experienced …

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Payment of Statutory Obligations in Forex Worries Miners

Local mining companies have raised concern over payment of statutory obligations in foreign currency, arguing this was putting pressure on the current forex retention level now inadequate to meet their operational requirements. According to the state of the mining industry survey commissioned by the Chamber of Mines of Zimbabwe, the …

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ZCDC Working On Diamond Value Addition Plan

An ambitious plan to ensure Zimbabwe generates more revenue from diamonds through value addition and beneficiation, has been set in motion while a massive global marketing of the gems will also be pursued from next year. Critically, revenue from the sale of diamonds will be channelled towards development of infrastructure …

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