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Hwange Colliery to get new board

Ishemunyoro Chingwere Business Reporter The Minister of Mines and Mining Development, Winston Chitando, has nominated six people Government wants appointed into the Hwange Colliery Company board. The nomination came at a time when Government is working towards resuscitating the 119-year-old coal miner, which is confronted with a myriad of problems, …

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City’s tomato paste plant starts operations

Dumisani Nsingo, Senior Business Reporter SONDELANI Ranching has launched its $2 million state-of-the-art tomato processing plant for the production of tomato paste in Bulawayo. Turning Matabeleland Green co-director Reverend Patson Netha said the plant, which has the capacity to process 150 tonnes or over 1,5 million tomatoes started operating last month. …

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Micro-finance firm raises $5 million capital

Business Reporter Micro-financE firm Untu Capital, has raised its targeted $5 million in an issuance of tradable bonds after successfully issuing the third and final tranche of $2 million on the Financial Securities Exchange (Finsec). Bonds are a debt instrument offered to the market to raise capital. Initially, Untu Capital …

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Complex shareholding stalls Zimre bundling

Tawanda Musarurwa Business Reporter A complicated shareholding structure in Zimre Holdings Limited’s regional subsidiaries is stalling the group’s move to consolidate all of its operations in new offshore company, Emeritus International Reinsurance Company. ZHL is in the process of a monolithic rebranding of its reinsurance operations under the Emeritus Reinsurance …

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‘Original Mazoe back in July’

Business Reporter Schweppes Zimbabwe expects the original Mazoe to be back in shops by end of July as the firm needs time to prepare and print labels for the distinct original brand, managing director Charles Msipa has said. Mr Msipa told journalists on Friday that the company had listened to …

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IPEC targets 7 percent insurance penetration

Enacy Mapakame Business Reporter The Insurance and Pensions Commission (IPEC) is targeting insurance penetration to reach 7 percent by 2022 compared to the current 4,7 percent on the back of an anticipated economic growth. Zimbabwe remains in top five in the region in terms of insurance penetration. The growth will …

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ED to commission Hwange project

Africa Moyo Business Reporter President Mnangagwa is on Wednesday expected to preside over the ground-breaking ceremony for the expansion of Hwange Thermal Power Station, which is estimated to cost $1,5 billion. The expansion project will see two more generating units, 7 and 8, being constructed with each generating 300MW of …

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Zim to launch second leather industry strategy

ZIMBABWE is set to launch its second leather industry strategy next month, which is expected to boost production in the region, a Common Market for Eastern and Southern Africa (Comesa) official has said. BY TARISAI MANDIZHA Speaking on the sidelines of the third Comesa Diplomatic Conference on Competition and Trade …

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Buyanga’s AMG buys Pagliari for R100 million

Businessman  Frank Buyanga’s African Medallion Group (AMG) has just closed a Rand 100 million acquisition of Pagliari Group (Pagliari), a former subsidiary of Rand Refinery (RF) and supplier of high-quality gold products. Frank Buyanga The development also comes as the South African-based company has offered its assets to capitalise Zimbabwe’s …

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Stick to Standard Irrigation Methods, Farmers Told

By Martha Leboho A senior agronomist has urged wheat farmers here to stick to standard irrigation methods and to avoid water-logging their plants in a bid to enhance productivity and ensure quality yields. The provincial crop and animal officer Mr Peter Chamisa said in a recent interview that water logging …

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