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Colliery eyes 10 000t coking coal exports

Hwange Colliery Company Limited Oliver Kazunga/Fairness Moyana, Business Reporters HWANGE Colliery Company Limited (HCCL) will soon start exporting coking coal to regional markets with about 10 000 tonnes of the product set to be shipped to South Africa per month. South Africa has a huge appetite for coking coal as …

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Farmers urged to embrace mechanisation

Harare Bureau AGRICON Equipment, one of the country’s leading assemblers and suppliers of high tech agriculture equipment and implements says local farmers should embrace mechanisation to enhance efficiency and maximise yields and incomes from the farms. Agricon is the official agent of CASE, the world’s leading manufacturer of agriculture and …

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Raw milk output drops 12,7pc

Oliver Kazunga, Senior Business Reporter ZIMBABWE’s raw milk output dropped by 12,7 percent in February to 4,39 million litres compared to 5,03 million litres during the same period last year, official data shows. Statistics from the Dairy Services Department indicate that retailed milk went down to 532 075 litres from …

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‘RioZim operations under threat’

Auditing firm Ernst & Young Chartered Accountants Zimbabwe (EY) has raised a red flag over RioZim’s operations despite the listed resources firm registering a $2,5 million profit last year. Lovemore Chihota (centre) “The group’s current liabilities exceeded its current assets by $30,8 million,” EY said in a statement accompanying RioZim’s …

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WFP launches five-year plan to end hunger in Zimbabwe

By Own Correspondent Bishow Parajuli is UN Resident Coordinator and UNDP Resident Representative in Zimbabwe THE United Nations World Food Programme (WFP) and the Zimbabwean government on Monday jointly launched a US$253 million five-year plan to build resilience, end hunger and boost nutrition in Zimbabwe. The country strategic plan, running …

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Funeral assurers gross premium income up 6pct in 2016

HARARE, April 4 (The Source) – Funeral assurers reported a 6 percent increase in gross premium income to $38,6 million in the full year to December 2016 from $36,5 million previously as a result of new business arising from mobile insurance, according to the regulator. The Insurance and Pensions Commission (IPEC) …

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Mandiwanza’s dark mood reflects Dairibord’s travails

By Simbarashe Zishiri, HARARE, April 4 (The Source) – You can write or think whatever you like, Dairibord chief executive Anthony Mandiwanza somberly told assembled analysts and the media at the group’s presentation of its financial results for 2016 last Wednesday. He had just announced a net loss of $5,4 …

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SMEs pay 20pc of tax revenue — Zimra

Business Reporter Small to Medium enterprises now make up about 70 percent of registered taxpayers, contributing about 20 percent to tax revenue, according to the Zimbabwe Revenue Authority. Zimra acting commissioner general Happias Kuzvinzwa recently said the current contribution by the sector was a reflection that SME’s had become key …

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Sadc needs comprehensive power strategy

Minister Undenge Conrad Mwanawashe Business Reporter Southern African requires a comprehensive energy strategy covering development of new generation plants and transmission projects to evacuate electricity from sources to ensure sustainable supply to cover the 6 000MW operational power deficit the bloc is facing. The operational deficit comes at a time when …

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