HARARE – African countries must not overstate the extent of Chinese investment on the continent as China is investing very little, a United Nations (UN) official said. Speaking to delegates at the recently-held African Media Leaders Forum in South Africa last week, UN Economic Commission for Africa Executive Secretary Carlos Lopez said African leaders had…
HARARE – Zimbabwe’s largest sugar producer Tongaat Hullet says its operating profit for the half-year to September 2015 declined to $19 million compared to $32 million recorded in the same period last year. The group’s chief executive Peter Staude said despite the slump in profits, Tongaat’s domestic market sales volume levels have been maintained despite…
HARARE – Zimbabwe must introduce tax reforms as a way of promoting investment, enhancing inclusive growth and poverty reduction, the United Nations has said. The United Nations resident coordinator, Bishow Parajuli, last week said one of the concerns the international organisation has on Zimbabwe was inadequate public and private investments. [GoogleAd] “Zimbabwe has introduced structural…
HARARE – Cotton farmers will on November 16 start getting price adjustments on the crop they sold to merchants following the completion of grading at the ginneries, the Cotton Ginners Association of Zimbabwe (CGAZ) said. In a notice posted yesterday, the association said the grading process was almost complete after merchants had paid farmers an…
HARARE – Zimbabwe’s largest financial services group CBZ Holdings has won the trophy for the Best Governed Company on the Zimbabwe Stock Exchange for the second year running, while NMB Bank was awarded the trophy for the Best Governed Banking Institution. The Zimbabwe Investment Authority won the inaugural State Enterprises and Parastatals Best Corporate Governance…
HARARE – The Zambezi River Authority (ZRA), jointly owned by Zimbabwe and Zambia with the mandate to run Kariba Dam administration, says it is moving to further reduce the allocation of power generation water supplies to the two countries, as the power generation situation for the two countries increasingly gets desperate. In a statement released…
BULAWAYO – Hwange Colliery Company Limited (HCCL) has indicated its interest to venture into coal-bed methane production in Lubimbi in Matabeleland North. The move is being touted as the coal miner’s diversification strategy. This was revealed in a tender notice published yesterday where HCC sought partnership with interested bidders with technical and financial capacity to…
HARARE – Zimbabwe’s annual broad money supply growth rate rose from 3,5 percent in August 2015 to 4,5 percent in September this year, statistics released by the central bank show. Referred to as M3, broad money is the most inclusive indicator of money supply in the economy but measures funds held by formal banking…
HARARE – Apparel retailer Truworths Zimbabwe (Truworths) says it will focus on effective management of credit risk to minimise trade receivable costs and improve cash flows. This comes as the country’s moribund economy is eating into corporates’ profits as a result of debt-laden consumers, already battling high unemployment and spending warily while the majority…
HARARE – Zimbabwe’s largest seed producer, SeedCo, yesterday donated two computers to the Meteorological Services Department in an effort to capacitate farmers with reliable weather data. SeedCo managing director Dennis Zaranyika told stakeholders attending a media luncheon in the capital yesterday that the computers will go a long way in ensuring that farmers are equipped…
