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Restrictive economic environment hits Afdis

BY MTHANDAZO NYONI SPIRITS and wine maker African Distillers Limited (Afdis) says it has not resumed cider exports into the region due to the prevailing restrictive economic environment. The currency distortions are making it hard for Afdis to price its products. Afdis had been exporting into the region after it …

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Caledonia records 200% profit increase

BY Staff Reporter CALEDONIA Mining Corporation reported an increase in after-tax profit to US$9,3 million in the first quarter compared to US$3,1 million last year due to foreign exchange gains and the profit on disposal of a subsidiary, the combined effect of which outweighed a lower gross profit. Gross profit …

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Using Request for Quotations procurement method

Request for Quotations (RFQ) is by far one of the most popular methods of procurement used in public procurement. The RFQ method of procurement is provided for under section 34 of the Public Procurement and Disposal of Public Assets (PPDPA) Act (Cap 22:23), and it entails a process in which …

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Govt drafts National Quality Policy

Kudakwashe Mhundwa and Kumbirai Tarusarira Business Reporters Government has drafted the National Quality Policy (NQP) which seeks to establish a national accreditation body and a market surveillance unit to assess the quality of products produced in local industries, as it moves to ensure that products meet conformity standards of both …

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Investor Protection Fund hits $15m mark

Enacy Mapakame Business Reporter The Securities and Exchange Commission of Zimbabwe’s Investor Protection Fund (IPF) has grown to $15 million, since it was established in 2009 to compensate investors in the event of losses. The growth in the IPF helps boost investor confidence on the market. The fund levels are …

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‘Chaka-Chaya neEcoCash’ promotion back, bigger

Business Reporter The multimillion dollar “ChakaChaya neEcoCash” promotion is back. Now in its third successive year, this year’s promotion is offering more prizes, including cash, houses, a Cape Town cruise, property stands, goats and cows — not to mention a trip for two to the Africa Cup of Nations (AFCON) …

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Pursue mutually beneficial partnerships: Envoy

Ishemunyoro Chingwere Business Reporter The Ambassador of the Caribbean islands of Antigua & Barbuda to Nigeria, Brigadier-General Dr Wallace Williams, has warned businesses to be worry of exploitative partnerships as the country opens up to investment after years of isolation. Zimbabwe, under the new dispensation, is looking up foreign direct …

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Gold slips from peak

Gold prices steadied yesterday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar. Spot gold was steady at $1 296,49 an ounce by 0808 GMT. US gold futures edged 0,1 …

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SA rand steady

South Africa’s rand steadied in early trade yesterday, as optimism surrounding trade talks between Washington and Beijing boosted market sentiment. At 0615 GMT, the rand traded at 14,2425 per dollar, not far from its New York close of 14.2550 on Tuesday. “The rand has remained surprisingly steady, trading in a …

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Caledonia lauds Govt on gold price

Tawanda Musarurwa Toronto Stock Exchange-listed and Zimbabwe-focused mining firm, Caledonia Mining Corporation says it is encouraged by efforts being made by the Government in improving the country’s business environment including the recent setting of a new gold support price. Last week, Fidelity Printers and Refiners (a subsidiary of the Reserve …

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