Business

StarAfrica’s Sugar Production Down 4 000 Tonnes Due to Power Shortages

By Alois Vinga LISTED sugar producer, StarAfrica Corporation Limited (SACL) production went down 3 744 tonnes in the firm’s first half ended September 30 2019 owing to choking electricity shortages obtaining nationwide. Speaking during the presentation of financial performance recently, SACL chairman, Joseph Mutizwa said power shortages affected productivity. “Our …

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Humans Have Longer Life Expectancy Than Their Money

By Carin Smith One of the consequences of people increasingly living longer, is that it has changed the number of working years compared to those eventually spent in retirement. Pension funds today should be investing for a “horizon” of 80 years or more, as technology and medical research advances at …

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Tanganda records tea export increase

By Enacy Mapakame Zimbabwe’s biggest grower and producer of tea and coffee, Tanganda Tea Company Limited — a subsidiary of Meikles Limited — says bulk tea exports marginally increased although production suffered a significant decline during the half year to September 30, 2019. According to Meikles group executive chairman John …

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Government to capacitate Ipec

By Ishemunyoro Chingwere Government is committed to capacitate the Insurance and Pensions Commission (IPEC) so that it plays a critical role towards achieving growth of the insurance penetration rate to about 20 percent, Finance and Economic Development Minister Professor Mthuli Ncube has said. Minister Ncube said this while addressing IPEC …

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‘Vic Falls best investment destination

By Ishemunyoro Chingwere South African television personality and entrepreneur, Maps Maponyane, says is impressed by the number of projects underway in the resort town of Victoria Falls adding Zimbabwe is currently the best investment destination in the region. Mr Maponyane arrived in Victoria Falls on Saturday at the invitation of …

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Positive Outlook for Gold

Gold looks set to end the year with double-digit gains and is likely to maintain its upward trajectory in 2020. At press time, the yellow metal is trading at US$1 477 per Oz, representing 15,25 percent gains on a year-to-date basis. Anything above 13, 2 percent would be the biggest …

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Black market driving Zim business: Survey

BY MISHMA CHAKANYUKA The black market for foreign currency is driving business in the country, with nearly all businesses and travellers in Zimbabwe obtaining their requirements from the illegal market, a survey by the Anti-Corruption Trust of Southern Africa (ACT-SA) has shown. The government set up an interbank market in …

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Increased Investor Appetite in Power Generation

By Africa Moyo Deputy News Editor There is increased investor appetite in taking up electricity investment projects, in a development likely to extinguish power shortages in the future. With the US$1,5 billion Hwange Thermal Power Station expansion programme underway, which will see an additional 600MW being fed into the grid …

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