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Mass exodus into SA
“Can South Africa take such an additional burden at this time?”ECONOMIST Eddie Cross has claimed that the tightening economic situation in Zimbabwe has triggered a mass exodus of Zimbabweans into South...
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Zim farmers lament costs of power
farmers urge more investment in sustainable energyTHE government should channel more funding in research and investment into sustainable energy sources as electricity costs in Zimbabwe are prohibitive...
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LIVE UPDATES: State of the nation address
The last State President Mugabe made a State of the Nation Address was in 2007.THE Financial Gazette is providing live updates of President Robert Mugabe’s State of the Nation address.He is expected to...
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IMF warns Zim on slowing growth
IMF’s resident representative Christian BeddiesTHE International Monetary Fund (IMF) on Wednesday warned of the risks associated with Zimbabwe’s slowing economic growth rate now pegged 1,5 percent,...
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Timber plantations require 25yrs to recover
Our timber has a 25 year rotation framework before a new circle is introduced. MUTARE — The country’s ailing timber sector needs 25 years to regain its lost status, an expert has said. Timber Producers...
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‘Scrap tourism tax’
Tourism Minister Walter MzembiPARLIAMENT has implored government to completely scrap off the 15 percent Valued Added Tax (VAT) on foreign tourists introduced by Finance and Economic Development...
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Zim’s housing crisis far from over
The scene is reminiscent of the country’s 2005 Operation Restore Order that directly affected 700 000 people.RUBBLE of broken farm bricks, coated by dried up cement mortar lies strewn over an area as...
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Govt abandons indigenisation
Ministerof Youth, Indigenisation and Economic Empowerment Chris MushohweGOVERNMENT has abandoned its populist indigenisation policy in a desperate attempt to lure offshore capital required to revive...
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World Bank says it has funded US$1,6 bln worth of development projects since...
Guang Zhe ChenTHE new World Bank country director for seven SADC member countries, including Zimbabwe, arrived in the country on Thursday for the first time on a two day working visit.Guang Zhe Chen...
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FBC records US$8,2m profit
FBC Holdings chief executive officer John MushayavanhuFBC Holdings registered US$8,2 million after tax profit in the half-year to June 2015, a 21 percent increase from the same period last year. The...
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Zimplats suffer US$74m loss
Zimplats declared a final dividend of US$13 million, equating to 12,08 cents per share.ZIMPLATS suffered a US$74,3 million loss in the full year to June 30, 2015 compared to a US$97,1 million profit...
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Bakhresa gets 100pc of Blue Ribbon; but indigenisation review in 5 years
Indigenisation Minister Chris MushohweTANZANIAN multi-national Bakhresa Group is set to acquire the entire shareholding of Blue Ribbon Industries after creditors approved its proposed US$40 million...
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Bindura Nickel Corporation restructures its board at AGM
Kalaa Mpinga though eligible did not seek re-electionBINDURA Nickel Corporation restructured its board today at its annual general meeting to reflect the interests of its Chinese shareholder, China...
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Govt finds suitors for CAPS
CAPS was once one of the largest pharmaceutical companies in sub-Saharan AfricaGOVERNMENT is said to have secured a potential investor for the troubled drugs maker, CAPS Holdings, for an undisclosed...
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Banks ride economic storm
Reserve Bank of Zimbabwe buildingTHE country’s banking industry exhibited significant resilience against multifaceted challenges posed by the prevailing difficult environment during the first half of...
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Petroleum industry hit hard by taxes
Energy and Power Development permanent secretary, Partson MbiririPLAYERS in the petroleum sector have expressed disquiet over government’s tax regime, which they say is punitive and should be revised...
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Former minister in tender saga
Paul MangwanaFORMER Cabinet minister, Paul Mangwana, has been caught up in a tender storm after his law firm was engaged by several municipalities to collect outstanding debts owed by ratepayers under...
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GMB to pay US$14million to farmers in two weeks – RBZ
GMB has paid $90 million to farmers for the 2014/15 agricultural season crop and there is balance of $14 millionMUTARE -The Grain Marketing Board expects to pay farmers $14 million in arrears for the...
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State-owned Zarnet acquires SAP provider
Minister of Information Communication Technology, Postal and Courier Services Supa Mandiwanzira.THE state-owned Internet service provider, Zarnet has acquired a majority shareholding in local software...
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‘Unscrupulous dealers sell imported grain to GMB,’ central bank says
Central bank governor John MangudyaMUTARE- Central bank governor John Mangudya says maize imports have become a breeding ground for corruption, with licenced importers now reselling the grain to the...
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