Business

Business

THE Association of Cotton Value Adders of Zimbabwe (ACVAZ), a grouping of all stakeholders involved in the cotton value chain, is bullish about national seed cotton output this year, which would in turn push cotton lint production upwards. ...

STATE-OWNED telecoms operator, TelOne, has stepped up efforts to curb increased network vandalism and copper cable thefts by installing security alarms on the copper cable infrastructure. ...

NMB BANK says it will broaden its target market to the “mass market, previously not catered for” by the institution and help boost financial inclusion in the country. ...

National cement demand has surged since the second half of last year, driven by a reported bubble in mortgage and construction activity, amidst mounting supply-side challenges related to foreign currency shortages for the procurement of spare parts. ...

SEED CO Zimbabwe won a double at 2018 Harare Agricultural Show, which ended on Saturday, the 108th time the exhibition has been held. ...

SINO Zimbabwe Cement Company (Sino-Zim), a Gweru-based cement manufacturer, says it sources 85% of its raw materials and inputs from local suppliers, but faces challenges in obtaining foreign currency to procure imports. ...

THE CEO Africa Roundtable would like to see action on some of the “toxic elements that characterise the business environment”. ...

STANBIC Bank (Stanbic) has called for currency reforms and measures to support industrial growth, foreign currency generation and price stability in order to put an end to “turbulence in the operating environment”, currently fuelled by unsustainable budget deficits. ...

THE Zimbabwe Tourism Authority (ZTA) will from Thursday to Saturday hold the 11th edition of the Sanganai/Hlanganani World Tourism Expo at the Zimbabwe International Exhibition Centre in Bulawayo. ...

METBANK has agreed to provide financial backing to small-scale miners under a strategic alliance agreement with the Zimbabwe Miners’ Federation (ZMF). ...

ZIMBABWE’S gold output is projected to surpass the 2018 annual target and is already marginally above last year’s total with four months to go, according Fidelity Printers and ...

GERMANY believes that President Emmerson Mnangagwa’s government marks a new beginning for Zimbabwe and is eager to explore areas of economic cooperation with the country. ...

ECONET Wireless Zimbabwe (Econet) yesterday launched EcoCash scan and pay service, a big mobile commerce milestone in the country, which will enable users to scan and pay with their smartphones at the point of sale. ...

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. ...