Day: March 10, 2017

ZSE records further losses

The Zimbabwe Stock Exchange (ZSE) mainstream index recorded further losses to end the week on negative ground. The industrial index lost a marginal 0.02 points to settle at 135.36 points. Axia (axia.zw) shed 0.48 cents to close at 6.50 cents, financial services company CBZ eased 0.05 cents to trade at 10.20 cents while milk processor  Dairiboard inched down 0.02 cents to close at 5.00 cents. On the upside Old Mutual (oml.zw) advanced by 0.25 cents  to 347.25 cents while Econet (eco.zw) added 0.13 cents to trade at 13.13 cents. Ariston (aris.zw) was 0.07 cents stronger at 0.42 cents. Week on week industrial index gained 0.88 points (0.65%). The mining index was flat at 53.66 points. Bindura (bind.zw), Falgold (falg.zw), Hwange (hccl.zw) and RioZim (rioz.zw) remained unchanged from previous trading levels at 3 cents 1 cent, 3 cents and 33.55 cents respectively. Week on week mining index lost 2.02 points...

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US dollar creates more problems: Dr Mlambo

The Reserve Bank of Zimbabwe (RBZ) deputy governor Dr Khuphukile Mlambo said the decision to use the United States dollar as the main currency despite the multi currency regime had created a lot of problems than expected. Dr Mlambo was addressing students at a workshop organised for economics students from seven high schools at Petra High in Bulawayo. While the major source of liquidity is exports, the Zimbabwean economy has persisted to be import dependant, a problem that the government has tried to deal with through the SI64. Dr Mlambo also noted that the foreign investment climate was very poor in that it is costly to produce in Zimbabwe through the United States dollar when the trading will be done in Rands which is softer, resulting in the influx of foreign products into the country. Confederation of Zimbabwe Industries president Mr Busisa Moyo echoed calls for the country to come up with measures to increase the use of the Rand if the local economy is to tick. Event organiser Mr Jenias Sibanda revealed that the seminar was meant to try and promote the economics subject while ensuring the economics students got an understanding of current issues affecting the country’s economy. Schools that took part included CBC, Girls College, Masiyephambili, Maranatha, Eastview, Petra and Kyle College from Masvingo with issues such as the state of Zimbabwe’s industry and monetary policy...

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Senegal, Zambia clash in U20 AFCON final

Senegal and Zambia will battle for gold in the final of the CAF under 20 Africa Cup of Nations being hosted by Zambia. It will be a battle of south versus west when Senegal clash against Zambia in the final of the under 20 Africa Cup of Nations on Sunday. Zambia will be representing Southern Africa after an extra time goal earned them a ticket to Sunday’s final. Zambia who are yet to taste defeat face arguably their biggest test against a strong Senegal side that edged Guinea courtesy of a 13th minute strike on Thursday. Sunday will be Senegal’s second consecutive U20 Africa Cup of Nations final. After losing to Nigeria, Senegal will be looking to this time come out tops and land the Africa under 20 crown. Standing in the way of Senegal will be a strong Zambia side that has been impressive on home soil. Edward Chilufya ensured Zambia earned a place in Sunday’s final and the hosts will be looking to capitalise on home advantage when they clash against Senegal. While all eyes will be on Sunday’s final in Ndola, South Africa and Guinea will square off in a battle for bronze in a third and fourth place play off on...

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Bulawayo-Gwanda highway accident victims identified

The Zimbabwe Republic Police (ZRP) says 13 people who died on the spot in an accident which occurred at the 8 kilometre peg along the Bulawayo-Gwanda highway early morning yesterday have been identified. In a statement to ZBC News, police spokesperson Chief Superintendent Paul Nyathi said the deceased are Agnes Ngwenya  aged 55, Danisani Masukume 40, Esther Moyo Mangena 21, Gift Sibanda 43, Gladys Nyathi 65, Grace Ndemera 48, Gracious Sibanda 41, Luke Sibanda 65, Margaret Dube 46, Rebecca Dube 65, Sinikiwe Mangena 32, Sovia Sibanda 37 and Yvonne Machingauta 31. Chief Superintendent Nyathi said the ZRP would like to express its deepest sorrow to families who lost their relatives and wish a speedy recovery to the injured. He added that the police continue to urge motorists to exercise extreme caution when travelling at night as it is difficult to observe the condition of the road due to poor...

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Presidential scholarship scheme to be extended to Asian countries

Information, Media and Broadcasting Services Minister Dr Christopher Mushohwe says plans are in the offing to honour President Robert Mugabe’s long and close friendship with former Malaysian Prime Minister Mahatir Mohamed through the establishment of an educational programme which extends the Presidential scholarship programme to the Asian country. This was revealed when Minister Mushohwe held bilateral talks with the visiting Vice Chancellor of University Utara Malaysia at his offices in Harare this Friday (today). During the meeting Minister Mushohwe explained to the visiting University Utara Vice Chancellor Mohamed Mustafa Ishak the origins of the Presidential scholarship programme which began in 1995 at Fort Hare University in South Africa through the friendship between two of Africa’s dozens of Pan-Africanists, Cde Mugabe and the late South African President Nelson Mandela. The scholarship which has since spread to other universities in South Africa has churned over 20 000 professionals who are now forming part of Zimbabwe’s civil service. The University Utara Vice Chancellor said his institution which specialises in educating managers said he is willing to partner with Zimbabwe in that aspect and said the deliberations should be handled by the Malaysian embassy in Harare. Vice Chancellor Mustafa Ishak came to Zimbabwe at the invitation of the National Defence College where he presented a lecture early this...

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Blessing Shumba to release DVD album

Mutare based popular gospel musician Blessing Shumba is set to release a DVD album ahead of the Easter holiday. NAMA award winner and leading gospel musician Shumba who has recently topped the Zimbabwe Coca-Cola Radio Zimbabwe top 50 twice, is working on a musical DVD for the album Calvary. The Mutare based singer told the ZBC News that the DVD album is in the final editing stages and it is scheduled for release on the 12th of next month. Some of the songs on the album are ‘RaJesu Idzvene’, ‘Eli Hossana’, ‘Anoziva Chakanaka’, ‘Chikomborero’, ‘Matatenda’, ‘Zvapera (simba remuchinjikwa)’ and ‘Mwari Munodeiko’. Shumba who is studying for a three year Diploma in Theology at the Mutare Schools of Preaching became a house hold name after producing his first album Ishe Wazvose in 2009. His other albums include ‘Ndimwari’ (2011), ‘Shongwe’ (2012) and ‘NdiJesu’...

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ZDF university signs MOU with Malaysian university

The Zimbabwe National Defence University partnership with University Utara Malaysia has been sighted as a key development that will spur the military college’s growth. Zimbabwe Defence Forces Commander General Constantino Guveya Dominic Nyikadzino Chiwenga hosted the University Utara delegation headed by Professor Mohamed Mustafa Ishaki at a restaurant in Harare where he said collaborative programmes between the two institutions will greatly help the local university to achieve academic excellence. General Chiwenga said the Zimbabwe National Defence University is poised for tremendous growth through transcontinental collaborations such as the one that culminated in a memorandum of understanding (MOU) by the aforementioned two universities. University Utara Malaysia delegation headed by Professor Mohamed Mustafa Ishaki said the MOU is a historic development for the Malaysian education system as no such agreement had been reached before. General Chiwenga said the academic exchange programmes and MOUs are aimed at stimulating the new defence university to became a cradle of academic excellence and develop the overall geo-strategic thinking in the Zimbabwe Defence...

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Zanu PF Harare Province verification process begins

Zanu PF Harare Province says it is commencing the audit and verification exercise of its membership database to mobilise its support base and strengthening party structures ahead of the 2018 general elections. The verification process starts tomorrow in all cell and wards. The Zanu PF Harare Province leadership has started the process of mobilising its support base and strengthening of its structures. Speaking to ZBC News Harare Province Political Commissar Cde Shadreck Mashayamombe said the verification process is starting this Saturday (tomorrow) in preparation for the 2018 elections. He said they have deployed teams to monitor the exercise in different cells and wards, with the process expected to be complete by month end. He added that the figures will give the party a true picture of where it stands ahead of the 2018 general elections and implored party members to be in party structures. The verification process is being done in preparations for the 2018...

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Govt rolls out electronic traffic management system

The government is rolling out an electronic traffic management system (ETMS) that will see a reduction in the number of police check points on the country’s roads, curb corruption and ensure that motorists comply with traffic regulations. Home Affairs Minister Dr Ignatius Chombo told a media briefing in Harare that they are aware of complaints over the ever increasing number of road blocks and the sometimes questionable behaviour of officers manning the police check points which have been criticised as excessive. Dr Chombo said his ministry is working on a number of initiatives among them the introduction of an ETMS that is anticipated to bring transparency and accountability in enforcing traffic laws. The initiative is being implemented in partnership with a private entity Univern Enterprises under a public private partnership model. The ETMS has already been linked to the vehicle theft squad and to various entities within the Ministry of Transport and Infrastructural Development says Dr Chombo. Electronic traffic management system is an integrated computerised traffic system that can also record accidents, generate dockets and compile data...

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Tobacco e-marketing to bring sanity, competition

The Tobacco Industry and Marketing Board (TIMB) and farmers’ representative say the introduction of e-marketing during the 2017 marketing season is expected to bring competition and transparency in the industry. The 2017 tobacco marketing season which kick start next week will usher in a new era as the TIMB introduces e-marketing which will replace the conventional way of selling the golden leaf. As farmers come face to face with new technology, questions have been raised on the sudden implementation of e-marketing which some experts say the technology could cause congestion and inconveniences on part of both the farmers and auction floors. However, TIMB boss Dr Andrew Matibiri has demystified the anxiety shown by some farmers and experts saying the e-marketing system will curb unfair practices by merchants and bring efficiency and competition to the advantage of the farmer. on the issue of how farmers will move their crop in the face of impassable roads, a tobacco expert Mr David Machingaidze advised farmers to form groups and engage reliable transporters. To avoid congestion in view of the new marketing formula, there is need for TIMB to introduce a method whereby farmers deliver properly graded quality leaf crop in an orderly manner. The e-marketing system has been successfully used in India and expectations are high that if farmers embrace the new technology all the chaos and corruption which rocked the tobacco...

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