Month: February 2017

Industrial counters recover from losses

Activity  on the local stock market showed signs of  improvements  on the back of blue chip counters that set the tone for a rebound in the mainstream industrial  index  gaining 0.30 points to close at 135.31 points while the mining or resources index dropped by 7.26 cents to 56.47 cents. Gainers included Barclays which was 0.03 cents up to 2.50 cents after releasing 2016 audited financials, ZBFH gained by 0.18 cents to 6.40 cents. Hippo was 0.75 cents up to 37.50 cents while PPC rose by 0.01 cents to end at 60.00 cents and mash was 0.01 cents up to close at 2.01 cents. Meikles shed  0.01 cents to 9.90 cents, Innscor  was 0.01 cents down to close at 46.90 cents and Old Mutual share price dropped by 0.25 cents to end at 344.75 cents. Bindura shed 0.56 cents to end at 3.44...

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Govt meeting implementing partners on urban tolling

The roll out of urban tolling in Harare is set to gain greater traction with players involved in the implementation of the programme meeting government on modalities this week. The state of the country’s roads, particularly those in the capital, recently declared a state of disaster, has continued to be a cause for concern with the motoring public complaining of increased costs of servicing their motor vehicles. Local Government, Public Works and National Housing Minister Saviour Kasukuwere says the influx of second hand vehicles has seen the increase of vehicles on the country’s roads, traffic jams as well as road carnage. Experts argue that if properly managed, urban tolling is the solution to road rehabilitation and...

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ARLAC urged to implement labour principles

The government says the recognition of worker’s rights is central to national, regional and international development as it is an enabler of stability and economic sustainability. This was said by the Permanent Secretary in the Ministry of Public Service, Labour and Social Welfare Mr Ngoni Masoka at the ongoing 43rd Africa Regional Labour Administration Centre (ARLAC) Governing Council Meeting and High Level Symposium on Fundamental Principles and Rights at work  in Victoria Falls. Mr Masoka said African countries should be commended for the high number of ratifications, while further progress in additional ratifications should still be encouraged. He said the relatively high number of African cases that come before the International Labour Conference Committee on the Application of Standards every year shows that many African countries are facing challenges in domesticating the principles and provisions of these conventions in law and practice. The platform is going to afford labour experts an opportunity to discuss pertinent issues, share notes on best practices and improve labour administration across the continent. The 4-day meeting is being attended by delegates who include ministers and senior government officials  from 19 member countries and the International Labour...

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ZimTrade engages Tanzania firms

ZimTrade is hosting a business delegation representing eight firms in the agricultural sector from Tanzania, with a view to generate more exports and further business synergies. The visit by eight firm’s representatives from Tanzania is part of the ongoing engagement between the two countries with a view to boost trade in various sectors of the economy. The buyers will engage in one-on-one meetings with Zimbabwean suppliers in Harare and Bulawayo with the objective of negotiating supply contracts and generating export orders and they will have the opportunity to conduct factory tours of Zimbabwean manufacturers. ZimTrade chief executive officer Mrs...

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Met anticipates more floods

The Department of Civil Protection says the number of damaged homesteads has increased to 2 579 from the 2 333 homesteads across the country. This comes as the Meteorological Services Department is still anticipating more floods. Acting director Mrs Sibusisiwe Ndlovu said 240 more cases of destroyed homesteads have been recorded today bringing the total number to 2 579. She said they are on high alert and the Air Force of Zimbabwe (AFZ) is still in Masvingo as a contingent measure to air lift victims in case of another disaster. Meanwhile, the Met department says there are high chances of recording more floods as they are still anticipating normal to above normal rains in some parts of the country. The Department of the Civil Protection has warned the public against the use of hotline numbers saying it must be used for emergency services and not to make false report. The police, the AFZ and other stakeholders are working in partnership to ensure prompt reactions in order to save victims on...

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Govt to deal with land barons

In order to deal decisively with the issue of land barons, government says they will follow up on all cases people have been blamed for illegally selling land. Land barons and some unscrupulous cooperatives have continued to scuttle government efforts to avail land to ordinary Zimbabweans. The Ministry of Local Government, Public Works and National Housing is currently holding a strategic review workshop in the capital with the ministry highlighting that the huge appetite for land is constantly attracting individuals bent on cashing in on desperate home seekers. Government, through the Urban Development Cooperation (UDCORP) has sought to ensure that there is sanity in the housing sector. UDCORP has been hailed for the work that it is doing in areas such as Caledonia, Harare South and Gimboki in...

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Dairy industry output continues to increase

Milk production has continued on an upward trajectory, building up on annual growth of 15 percent recorded last year. Fortunes of the dairy industry continue to increase with milk producers recording more output in January. Output stood at 5 537 000 litres, a 0.39 percent increase compared to 5 516 000 litres produced during the same period last year. Chief dairy officer in the Ministry of Agriculture, Mechanisation and Irrigation Development Mr Addmore Waniwa said the heavy rains had negative impact on milk volumes but upward growth is still on course. Industry players are confident of continued growth this year with the focus being on increasing milk volumes so as to attain economies of scale. Last year the dairy sector launched a five year strategy on milk self sufficiency aimed at boosting production and ending import substitution by 2020 against a national demand of 120 million...

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Boxing extravaganza send off for Manyuchi

Oriental Quarries Boxing Promotions is set to give Charles Manyuchi a send off by staging a boxing extravaganza which will see 9 Zimbabwean boxers taking part at an event slated for Zambia. Manyuchi is set to fight Qudratillo Abduqaxarov of Uzbekistan in Singapore. The bout will be a title defence for Manyuchi who is the current WBC Welterweight silver champion. The all night boxing extravaganza will be held a day before Manyuchi departs for Singapore. Local Zimbabwean company Mr T35 is also organising an international night boxing bonanza on the day that Charles Manyuchi returns from Singapore. Manyuchi who became the WBC silver weight title holder after overcoming Russia’s Dimitry Mikhaylenko, is on a path of realising a vision of having a crack at the prestigious WBC welterweight gold title which is currently held by Amir...

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Mokoomba set to launch album in March

Internationally recognised and Zimbabwe’s top afro-fusion band Mookomba is set to scale to new heights following  a highly successful pre-release album tour of Europe to market and assess songs that will be included in the group’s new album titled ‘Luyando’. Mokoomba, one of the most exciting afro-fusion musical outfit recently toured seven European countries where the group’s fans had a chance to listen to some of the songs that will be included in the group’s forthcoming album to be released on the 24th of March. The band manager Marcus Gora said the pre-release tour of the album ‘Luyando’, a Tonga name for ‘Rudo’ in Shona saw the fans giving a standing ovation to the Zimbabwean music outfit for producing interesting songs with Belgium and Denmark recoding sold out concerts. Gora said the group is now working on increasing its visibility in the country by staging a number of music concerts adding that a love song ‘Nyaradzo’ has become a favourite with people who attended the group’s music concerts. The album will have songs that are sung in Tonga, Nyanja, Luvule, Ndebele and Shona makes the new album unique as it caters for the country’s different cultures. This outfit that emerged from Victoria Falls has a unique sound that has taken the world music scene by storm after winning international awards despite being less visible at the local music...

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GMB urged to pay farmers early

Farmer unions have urged the Grain Marketing Board (GMB) to ensure maize growers are paid early this season following announcement of the producer price last week. Farmer unions have welcomed the recent pronouncement by the Ministry of Agriculture, Mechanisation and Irrigation Development that the GMB will continue buying maize at US$390 per tonne as in the past two years. Zimbabwe Commercial Farmers’ Union (ZCFU) executive director Mr Jeremiah Tevera said the price allows maize farmers to remain viable highlighting that GMB has to mobilise funds to pay early for grain deliveries. Zimbabwe Farmers Union (ZFU) executive director Mr Paul Zakariya also welcomed the maize producer price but stressed the need for farmers to increase yields in order to end reliance on pricing. The GMB is currently paying farmers within 14 days marking a significant improvement from the delays experienced in previous years. A bumper maize harvest is expected this season after government invested close to a billion dollars to finance grain production under the command farming programme and the Presidential Inputs...

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