Business

Business

THE Hospitality Association of Zimbabwe (HAZ) has urged government to, among other things, revisit visa regime issues and relax some of the requirements in a bid to open gates for potential visitors into the country. ...

CANADIAN mining group the Caledonia Mining Corporation (Caledonia) has taken a long-term view on Zimbabwe with an announcement to bulk up in Blanket Mine and plans to explore new opportunities for investment in the country’s mining sector. ...

PRESIDENT Emmerson Mnangagwa is engaging Parliament over the swearing-in of the Ninth Parliament of Zimbabwe and the appointment of a new Cabinet, as he races against time amid reports that government business was virtually at a standstill. ...

People who co-exist with kombi drivers in Zimbabwe, matatu drivers in Nairobi’s traffic jammed roads, boda-boda motorcyclists in Kampala and similar situations in African cities have always wondered if those drivers are from the same mother. ...

GOVERNMENT has passed a statutory instrument on Special Economic Zones (SEZs), which effectively brings them into full operation. ...

THE Chamber of Mines of Zimbabwe (Chamber) says the first half of the year was a difficult period for the mining sector on account of a “difficult environment”, which could continue way into the second half. ...

THE Confederation of Zimbabwe Industries (CZI) says that it plans to lobby government to scrap the 40% duty on renewable energy products and components on grounds that it has stifled investments in the sector. ...

THE Zimbabwe Revenue Authority (Zimra) surpassed its gross revenue collection target by 20,80% in July, according to a statement by the tax collector, which also showed that performance was buttressed by excise duty. ...

THE Confederation of Zimbabwe Industries (CZI) has projected average manufacturing capacity utilisation to grow between 4,5% and 6% this year, a significant recovery from last year’s dip. ...

LOCAL millers say the industry is ready to meet rising flour demand, estimated to be at its peak level, following interventions on wheat imports by the central bank to cover the local output gap. ...

ZIMBABWE will be commissioning a fresh agricultural land audit, about 15 years after the Charles Utete Commission report whose findings were never implemented, which will run alongside a review of the land tenure system. ...

NATIONAL Railways of Zimbabwe (NRZ) general manager Lewis Mukwada (LM) was recently appointed president of the Southern Africa Railways Association (Sara) for the 2018–2019 period. ...

SINCE the Reserve Bank of Zimbabwe (RBZ) announced incremental cash injections into the economy in July, bank queues have persisted; demand for foreign exchange has remained high while the parallel market has remained a major source of foreign currency for both corporates and individuals. ...

Old Mutual Zimbabwe (Old Mutual) has reported that profit after tax tumbled 40% to $53,9 million in the first half of 2018 from $89,3 million in the comparable period last year mainly due to a decline in investment return on listed equities. ...

BEITBridge Juicing (BBJ), a unit of Schweppes Holdings Africa Limited, says there is huge untapped potential for investment in citrus production in Zimbabwe. ...

Barclays Bank of Zimbabwe (Barclays) defied economic headwinds to register an after-tax profit of $13,6 million by end of June 2018 from $9,4 million over the same period last year on the back of an 89% surge in interest income and rising non-interest income. ...

THE National Railways of Zimbabwe (NRZ) moved 1 772 million tonnes of freight in the first seven months of the year, an 11% increase on its performance during the same period last year, according to an official of the railway operator. ...

The Zimbabwe Revenue (Zimra) has urged taxpayers to review their tax affairs and make voluntary disclosures in circumstances where there is any income omitted from returns submitted. ...

GOVERNMENT has called on small-scale miners to diversify their commodity portfolios and strive for international competitiveness in their operations. ...

THE outlook for Zimbabwe’s mineral commodity export earnings is less than stable as the prices of gold and platinum — the country’s top two minerals by value — face growing downward pressure from a strengthening United States dollar (USD). ...

CUMULATIVE tobacco deliveries at the country’s three auction floors yesterday hit 249,1 million kilogrammes on day 100 of the sales period, with revenue reaching $728,75 million during mop-up sales. ...

Simbisa Brands, a Zimbabwe Stock Exchange-isted (ZSE) fast foods operator, is on drive to expand the footprint of the Nando’s brand to meet growing demand for its services. ...

Input prices, which affect price competitiveness and operating margins, increased 21% in the first half of 2018 — 150% higher than the growth in volumes — and might continue in the outlook, according to Dairibord Holdings Limited (DHL). ...

Bulls Power Fuels, a new entrant in Zimbabwe’s energy industry, says it is targeting 200 000kg of liquid petroleum gas (LPG) within the next 36 months as it looks to grow market share through its subsidiary, Bulls Gas. ...

Powertel Communications, a subsidiary of the Zesa Holdings Group, has ventured into internet of things (IoT) business with new lines of services that include vehicle tracking and generator monitoring. ...

RUBBER Products Manufacturers (Rubber Products), currently under judicial management, plans to launch new products and services that will help it to move abreast with market trends and return to solvency. ...

THE year-on-year inflation rate hit 4, 29 % in July 2018 from 2, 91% in June 2017, an increase of 47.48% in the Consumer Price Index (CPI) which measures changes in the general price level, driven mainly by food and non-alcoholic beverages, according to the Zimbabwe National Statistical Agency (ZimStat). ...

ZIMBABWE faces the risk of a grave solvency crisis after government experienced a budget overrun of $2,4 billion and a staggering budget deficit of $2,6 billion in 2017, about 59% in excess of actual revenue receipted. ...

ZIMBABWE’S winter wheat production this year is projected to reach over 100 000 metric tonnes (MT) from about 20 000MT in 2017, due to command agriculture-related investments, an official of the Zimbabwe Commercial Farmers’ Union (ZCFU) has said. ...

HARARE has been ranked the sixth least liveable city in the world out of 140 nation cities due to instability, inadequate infrastructure and a poor healthcare system, faring better only against cities in conflict-ridden and highly fragile states except Nigeria, according to the Global Liveability Index (GLI) of 2018. ...