HARARE – Zimbabwe’s poultry prices are set to rise following the imposition of a compulsory licence for importers by government, the African Development Bank (AfDB) warned. In order to control the influx of cheap chickens that are threatening the domestic industry, poultry importers now require a licence from the Industry ministry in addition to the…
HARARE – South Africa (SA) and Russia’s plans to establish a platinum bloc may benefit Zimbabwe, analysts said. They said the Organisation of Petroleum Exporting Countries (Opec)-style unit will uplift local platinum miners as they are mostly owned by SA-based firms and do the country good as it holds significant reserves of the commodity. Zimbabwe…
HARARE – Government is enacting a law to determine the governance and management of State enterprises, including board and chief executives’ appointments, Information minister Jonathan Moyo said. This comes on the back of gross mismanagement and misgovernance of parastatals with their management earning hefty salaries as the institutions incurred massive losses. Moyo said so far…
HARARE – Telecel Zimbabwe has unveiled a pre-paid service platform that will discount call tariffs by as much as 37 percent across all networks. The service, Telecel Go, which significantly reduces call costs below the regulatory standard charge, has been allowed a three-month run pending Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) approval for…
HARARE – Tocacco prices have slumped 15,13 percent to average $3,18 per kg this season compared to around $3,75 last year. This comes as Zimbabwe has auctioned tobacco worth $203,7 million since the opening of the 2014 selling season mid-February. The figure, according to statistics from Tobacco Industry and Marketing Board (Timb), is one percent…
HARARE – Innscor Africa’s meat processor Colcom is tipped to more than double its year to June 2014 profits to $4,8 million on the back of refurbishments and an expansion programme, analysts projected. Colcom recorded a $2,2 million profit in the half year to December 2013. Stock broking firm, EFE Securities (EFE), said Colcom’s interim…
HARARE – Zimbabwe collected a total of $133, 7 million in mining royalties last year, missing its $245 million target, the African Development Bank (AfDB) said. In its February 2014 report, the regional bank said the country missed the projected figure because of depressed global prices. The collections were marginally lower than 2012’s $134,4 million….
HARARE – AfrAsia Bank Zimbabwe (AfrAsia)’s managing director Tineyi Mawocha has resigned. His resignation, under yet unclear circumstances, is barely three months after his appointment. Sekai Chitemerere, AfrAsia Zimbabwe Holdings Limited (AZHL)’s corporate communications head, confirmed the development. “…Mawocha resigned … to pursue other personal interests,” she said. However, efforts to get his comment were…
HARARE – SABMiller’s Zimbabwean unit Delta Corporation (Delta) has received an excise duty reprieve from government, a development analysts say will grow the beverages maker’s bottom line. Last Friday, Harare suspended duty on bottler grade sugar for six months. Delta, along with fellow juices maker Schweppes Zimbabwe Limited, will be allowed to import a maximum…
HARARE – Tax collector, Zimbabwe Revenue Authority (Zimra), has warned of a tough economic environment ahead as government faces shrinking revenue inflows. Gershom Pasi, the authority’s commissioner-general, told Parliament yesterday that despite surpassing the 2014 first quarter revenue target — yet to be disclosed — by two percent, Zimra is likely to miss tax income…
