Business

HARARE – Construction firm Masimba Holdings Limited (Masimba) says the new government must implement sound and clear policies that are conducive to business and attractive to investors. “We urge the government to prioritise the implementation of sound policies and incentives to promote the key sectors of agriculture, mining, infrastructure and social services,” said Canada Malunga,…

HARARE – Zimbabwe will for the first time play hosts to Orischart Islamic Expo to be held in Harare, between November 6 and 10, 2013. Terrence Mhlope, one of the event organisers, said the Expo will firmly establish its position as a pre-eminent platform for leaders in the Islamic finance and investments industry in Zimbabwe…

HARARE – Newly appointed Finance minister Patrick Chinamasa says sanctions imposed on Zimbabwe by Western countries — which he alleges had bled the economy — gave the country impetus to rely mainly on domestic tax revenue collections for survival. “The government had to prudently and frugally use tax revenue for the provision of social services…

HARARE – Zimbabwe’s gold deliveries went up 15,07 percent to 1 189,28 kg in July from 1 033,49 kg recorded in previous month. Statistics from the African Development Bank (AfDB) revealed that gold deliveries by primary producers grew by 13,36 percent to 934,06 kg from 823,98 kg, while deliveries by small-scale producers grew by 21,82…

HARARE – Newly appointed Finance minister Patrick Chinamasa has urged Zimbabweans to be innovative in order to further increase industrial capacity utilisation and boost production. Chinamasa told a taxpayer appreciation commemorations day yesterday that the country had lost a lot of ground in industrialising and had been reduced to a warehouse of other countries’ manufactured…

HARARE – Zimbabwe’s declining long-term deposits is associated with depositors’ speculation on the possible return of the local currency after elections, the African Development Bank (AfDB) has said. The southern Africa nation ditched its local currency in 2009 after being rendered worthless by hyper-inflation with the government opting for more stable foreign currencies led by…

HARARE – Zimbabwe will once again be on the spotlight when the country hosts the 5th annual Zimbabwe Mining and Infrastructure Indaba from September 25 to 27 this week. The indaba — to  be officially opened by the incoming Mines and Mining Development minister, Walter Chidhakwa — will be running under the theme “Re-defining Africa:…

HARARE – Canada-based New Dawn Mining Corporation (New Dawn) says its future in Zimbabwe remains uncertain due to indigenisation regulations and continued deteriorating economic and business climate in the country. The Zimbabwe-focused junior gold miner said that a major underlying factor contributing to the company’s current difficulties has been the more than two-year delay in…

HARARE – Zimbabwe’s financial system saw a marginal growth of electronic transactions in the year to June 2013, on the back of increased uptake on plastic money and electronic transfers statistics released by the African Development Bank (AfDB) revealed that the value of transactions processed through the Zimbabwe Electronic Transfer Settlement System (ZETSS) slightly surged…

HARARE – Zimbabwe may be a difficult place for mining firms to invest new capital at the moment, but those with their feet already atop its rich soil are sticking around. They think it is better to brave the current political uncertainties and regulatory constraints than quit, the country’s high tax regime notwithstanding. In fact,…