HARARE – China has become the largest foreign investor in Zimbabwe after the emerging Asian giant poured more than $200 million into the country in 2014, latest figures show. This comes as the southern African country attracted a total of $545 million last year in foreign direct investments — a 36 percent surge from $400…
HARARE – Zimbabwe’s annual inflation rate is expected to improve in the last two months of the year from the current negative figures on the back of increased consumer goods demand during the festive season, a local economic think-tank has said. Zimbabwe Economic Policy and Research Unit (Zeparu) executive director Gibson Chigumira yesterday told guests…
HARARE – Zimbabwe is seeking at least $60 million to complete the construction of the Harare International Airport Road, Transport minister Joram Gumbo has said. Gumbo told journalists yesterday at the official opening of the road that after completing the first phase of the road, at a cost of $15,8 million government was now mobilising…
HARARE – NMB Zimbabwe (NMBZ) is close to clinching a $40 million line of credit aimed at strengthening the bank’s liquidity position. “Our approved lines stand at $60 million from six different funders and we are negotiating for additional lines in the region of $40 million,” the finance institution’s group chief executive Benefit Washaya said…
HARARE – Zimbabwe is targeting to grow its economy by 2,7 percent next year driven by agricultural recovery and growth in the mining sector, businessdaily has learnt. The figure — described by analysts as “very optimistic” — came out in the budget strategy paper prepared by Treasury released over the weekend. “Accordingly, in 2016, overall…
HARARE – Budget airline Fly Africa Zimbabwe was last week granted an interdict by High Court judge Emmy Tsanga to resume operations. This comes after the low-cost airline’s operations were suspended last month after the company’s majority shareholder Chakanyuka Karase voluntarily submitted the carrier’s Airline Operator Certificate (AOC) to the Civil Aviation Authority of Zimbabwe…
HARARE – Zimbabwe’s trade deficit widened to $2,6 billion in the 10 months to October 2015, as the country’s economy continues to slide into recession in the absence of strong economic reforms. Latest figures released by the Zimbabwe Statistical Agency (Zimstat) yesterday showed that the country imported goods worth $4,6 billion between January and October…
HARARE – Zimbabwe has signed a three-year contract with French-based satellite provider Eutelsat Communications to build the country’s digital terrestrial television (DTT) capacity, it has emerged. In a statement released yesterday, the Broadcasting Authority of Zimbabwe (Baz) chief executive Obert Muganyura said the new service is currently being tested with the system expected to launch…
MUTARE – Confederation of Zimbabwe Industries (CZI) has called for the enactment of a law that criminalises “side-marketing” to protect agricultural financiers. Side-marketing is when a farmer decides to sell their produce outside the contractual agreement after being supplied with inputs to grow the crop. Over the last decade, many financial institutions and corporates have…
HARARE – Zimbabwean companies have been urged to increase their regional footprint by exploiting the potential vast business opportunities offered by Namibia. Zimtrade chief executive Sithembile Pilime yesterday told delegates at the presentation of the Namibia Market Survey in the capital that of the total trade recorded last year, Zimbabwe had exported goods worth $8,8…
