Business

Business

The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says postal service is here to stay and will leverage on technology for growth. ...

The satirical novella Animal Farm has a popular saying that “all animals are equal but some are more equal than others”. This principle is very common in public procurement, where there is a requirement for all suppliers to be treated as equals and at the same time, there is equitable treatment of suppliers. ...

THE Zimbabwe Power Company (ZPC) has shut down two power stations — Bulawayo and Munyati — due to electricity oversupply in the country, an official has said. ...

Tourism and Hospitality Industry minister Priscah Mupfumira is pushing for affordable rates of tourism products and services, to boost domestic tourism as part of the 100 days action plan. ...

THE tourism sector in Zimbabwe is expected to grow by more than 20% this year, due to renewed confidence in the destination triggered by the recent change of government. NewsDay (ND) business reporter, Mthandazo Nyoni interviewed Zimbabwe Tourism Authority (ZTA) chief executive, Karikoga Kaseke (KK) about, challenges facing the industry as well as its growth prospects. Below are excerpts from the interview: ...

PRESIDENT Emmerson Mnangagwa has admitted the deteriorating state of the economy is due to decades of bad decisions made by the previous administration in which he occupied a key post. ...

NEW YORK/SAN FRANCISCO — Facebook Inc is buying a software firm that specialises in authenticating government-issued identification cards, the two companies said on Tuesday, a step that may help the social media company learn more about the people who buy ads on its network. US lawmakers have expressed alarm at Facebook’s limited ability to know who is buying advertisements, including election-related ads, on the world’s largest social network. Boston-based Confirm Inc, which is privately held, said on its website that the acquisition was the culmination of three years of work to build technology to keep people safe online. Facebook said in a statement Confirm’s “technology and expertise will support our ongoing efforts to keep our community safe.” Terms of the deal and how Facebook would apply Confirm’s software were not revealed. Confirm will wind down its operations and its employees will join Facebook in Boston, a person familiar with the acquisition said. Confirm’s website listed 26 employees earlier this month, according to a version archived by the Google search engine. It says on its website that it has more than 750 clients. Last year, Facebook said that suspected Russian agents had been paying to boost Facebook posts in the United States in an attempt to divide the electorate around the 2016 presidential election. Moscow denies the allegations. The company later said it would begin requiring organisations running election-related ads to confirm their identities. Facebook has more than six million different advertisers, and buying ads has historically required little more than a Facebook page and a credit card. Confirm says that its software allows for proof of identity for online transactions, allowing users to detect potentially fraudulent activity. Moelis & Co and Goodwin Procter advised Confirm on the transaction. Hogan Lovells advised Facebook. –Reuters ...

DELTA Beverages says the uptake of its beverages sorghum contract farming scheme (BSCFS) will decline in 2018, as some of its farmers were now attracted to the government’s Command Agriculture scheme. ...

The Zimbabwe Information and Communication Technologies (ZICT) is set to build a central database for degree holders in Zimbabwe, amid a flurry of institutions offering fake degrees. ...

NETONE has sold more than 2 000 gadgets of the company’s One-Fi gadget generating over $400 000 in the process, as demand for the one stop shop for communication services product grows. ...

PRESIDENT Emmerson Mnangagwa could turnaround the country’s economy and may deliver sufficient economic gains in the next few months, a new report by a United Kingdom-based business intelligence consultancy firm, Alaco Limited, has revealed. ...

Self-driving car pioneer, Sebastian Thrun has shifted his gaze to the skies, as his Silicon Valley online school Udacity launches what it calls the first “nanodegree” in flying car engineering. ...

THE National Railways of Zimbabwe (NRZ) has set aside a $30 million capital budget for 2018, as the ailing parastatal seeks to turnaround its fortunes, while awaiting the $400 million recapitalisation deal to sail through, an official has said. ...

THE current dry spell may impoverish most tobacco farmers who have not cushioned themselves from potential losses through insurance cover, due to insufficient resources and dishonesty by some insurance companies. ...

Rising demand for wild foods and local herbs in most African informal markets demonstrates the desire for the public to return to natural remedies. ...

The African Union Commission is set to launch the Single African Air Transport Market (SAATM) in Ethiopia next week, the first AU Agenda 2063 flagship project. ...

THE tourism sector in Zimbabwe is expected to grow by more than 20% in 2018, with tourist arrivals surpassing 2,5 million due to renewed confidence in the destination triggered by the recent change of government, an executive has said. ...

An association of Zimbabwe Stock Exchange (ZSE) listed firms are seeking a meeting with President Emmerson Mnangagwa to discuss constraints faced by the sector, where a number of players are failing to remit dividends to foreign shareholders. ...

The new public procurement instruments issued by the government elevate procurement to a strategic level. ...

ZIMBABWE’S tobacco crop is under threat, as the current dry spell has taken its toll on one of the country’s biggest forex earners. ...

A BUSINESS association has called for the transformation of the Zimbabwe Revenue Authority (Zimra) to enable it to handle large volumes of transactions. ...

Postal and telecommunication operators can now pay their licence fees in instalments after struggling to make once-off payments due to the harsh economic environment, the Postal and Telecommunications Regulatory Authority (Potraz) has said. ...

MORE than half of emigrants sent remittances to their families in Zimbabwe, a new survey by the Zimbabwe National Statistics Agency (Zimstat) has shown. ...

THE Zimbabwe Tourism Authority (ZTA) has called for a holistic approach in addressing the pricing in the sector, as the authority will not interfere with costs unless they think it is “unreasonable”. ...

Zimbabwe’s investment outlook remains gloomy with this year’s harmonised elections likely to generate uncertainties, the African Development Bank (AfDB) has said. ...

President Emmerson Mnangagwa yesterday pleaded for patience, saying his government would publish to the nation its achievements after its first 100 days in office. ...

THE Zimbabwe National Chamber of Commerce (ZNCC) says this year it will run under the theme: Enterprise Development, Corporate Entrepreneurship and Sustainable Growth, as it looks into strengthening entrepreneurial management skills through capacity building and training to foster adoption of good workplace practices in small and large enterprises. ...

Alphabet Inc’s Google is making its second attempt in less than a year to protect advertisers on its YouTube user channels from being associated with videos featuring violence, gore or bad language. ...

GOVERNMENT is pursuing both economic and political re-engagements with international partners to normalise relations with key global economic giants to reverse years of isolation, Finance and Economic Development minister Patrick Chinamasa has said. ...

RAINBOW Tourism Group (RTG) shareholders on Tuesday gave the nod to resolutions that seek to raise $22,5 million through a rights offer of ordinary shares and linked debentures to settle its debt and raise working capital. ...