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Prospect Lithium Secures $10m Export Facility

By Golden Sibanda AUSTRALIA Stock Exchange (ASX) listed Prospect Resources, says its Zimbabwean unit, Prospect Lithium Zimbabwe, has secured $10 million export finance facility from the Reserve Bank through CBZ Bank Limited. The batteries lithium miner said the loan was another building block in the financing of the Arcadia Lithium …

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We Will Deal With Cash Crisis – Prof. Mthuli Ncube

The new Minister of Finance and Economic Development Professor Mthuli Ncube has promised to deal with Zimbabwe’s prevailing cash crisis soon after his swearing in at the State House this week. Mthuli Ncube is taking over from Patrick Chinamasa who has failed to implement a working formula which resulted in …

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Jonathan Moyo Warns Mthuli Ncube

Former minister of Higher and tertiary education, Professor Jonathan Moyo has offered a piece of advice to the newly appointed Minister of Finance, Professor Mthuli Ncube warning him against announcing his plans before consulting the Zanu PF politburo and cabinet. Professor Ncube has already announced plans to phase out bond …

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Enough of Uncle Sam’s Bullying

By Isdore Guvamombe The sanctions are indeed about the US’s proclivity for regime change in order to achieve its goal to change the power matrix in Zimbabwe from Zanu- PF to the opposition MDC Alliance that will be subservient to it and give US access to our natural resources. Since …

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Imports rise 26%, forex pressures worsen

ZIMBABWE’S import bill rose 26% in the six months to July 31 this year, driven by firming demand for fuel and food. Data for January is missing. BY MTHANDAZO NYONI The growing import pressures also saw the country’s trade deficit rising 27% to $1,48 billion from $1,15 billion in the …

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Metbank to focus on mortgage financing, e-banking

METBANK says it will focus its lending business on mortgage financing and commercial banking products that promote financial inclusion under a strategic plan that will determine the direction of the institution on a five-year horizon. BY FIDELITY MHLANGA The lender’s mortgage business will prioritise property development, while its commercial banking …

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Govt rules out bread shortages

Africa Moyo Senior Business Reporter Government has ruled out the possibility of bread shortages in the country as mechanisms have been put in place to import wheat in the short-term. Further, Government wants to boost wheat cropping to secure long-term availability of flour. This was said by Lands, Agriculture and …

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Prospect Lithium secures $10m export facility

Golden Sibanda AUSTRALIA Stock Exchange (ASX) listed Prospect Resources, says its Zimbabwean unit, Prospect Lithium Zimbabwe, has secured $10 million export finance facility from the Reserve Bank through CBZ Bank Limited. The batteries lithium miner said the loan was another building block in the financing of the Arcadia Lithium Mine …

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GMB receives 900k tonnes of maize

The Grain Marketing Board (GMB) has received 896 273 tonnes of maize and 21 750 tonnes of small grains as the parastatal has come up with measures to ensure smooth deliveries of the grain to its depots. GMB general manager Rockie Mutenha, yesterday said GMB was receiving an average of …

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Zim gets new IMF representative

Business Reporter THE International Monetary Fund has a new resident representative in Zimbabwe, Patrick Amir Imam. Mr Imam, who prior to his posting to Zimbabwe was IMF representative for Madagascar, takes over from Mr Christian Beddies who has been the IMF’s resident representative in Zimbabwe since May 2014. “The International …

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