Day: October 5, 2017

VP Mnangagwa reacts to VP Mphoko’s statement

On the 4th of October 2017, the Honourable Vice President, Cde R. P. Mphoko, writing in his capacity as the then Acting President of the Republic of Zimbabwe, issued a PRESS STATEMENT dated the 3rd of October 2017 in response to a ZBC News item wherein he purported, inter alia, that I, Vice President of the Republic of Zimbabwe, E.D. Mnangagwa; “had said for the first time in public I admitted that I was poisoned in Gwanda on August 12, 2017; the day of President Mugabe’s Youth interface Rally in Matabeleland South”. Following issuance of the PRESS STATEMENT, it...

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ZSE market cap up to US$12 bn

The total value of shares on the Zimbabwe Stock Exchange has increased to an average of US$12 billion by end of trading today on the back of an increase in investors’ participation. The industrial index rose by 2.61 percent to end at 444.27 points while the mining index was unchanged at 140.71 points. Gainers included Turnall 14.29 percent up to 1.44 cents, African Sun share price rose by 13.08 percent to 5.10 cents, Mash was 11.11 percent up to end at 8.00 cents and Econet share price was 10.07 percent up to close at 106.56 cents. Losers included NMB 5.56 percent down to 8.50 cents and FBC was 0.25 percent down to end at 24.25...

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ZEC national blitz to commence next week

The national blitz of the biometric voter registration (BVR) commences on the 10th of this month to ensure those who want to vote in the 2018 harmonised elections are captured on the voters roll following the delivery of the last batch of biometric kits last week. The blitz is a follow up to the launch of BVR by the first citizen President Robert Mugabe on the 18th of last month at State House. The blitz will last for 72 days and it will be held in four phases with each kit spending 16 days at the established centre. The...

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Calls for accountability in youth funding

Youths who will benefit under the newly launched EmpowerBank should go through intensive financial literacy programmes. The youths at least should have traceable documentation as beneficiaries of the fund and priority should be given to the youths in order for the bank to be a success.  Issues to do with high interest rates, stick monitoring measures and security of tenure should be addressed to avoid abuse of the youth fund. While the launch of the EmpowerBank is designed to offer financial services tailor made to the unique needs of the youth, indigenous entrepreneurs, the need to equip them with...

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Vic Falls room occupancy surges  

Hotel operators in the resort town of Victoria Falls have recorded a strong performance during the just ended third quarter with room occupancy level surging to 70 percent on the back of improved tourist arrivals and the UNIVISA initiative. The domestic tourism industry’s rebound continues with the latest figures for the country premier tourists’ destination Victoria Falls showing a commendable performance during the third quarter of 2017. Room occupancy level rose from 61 percent in 2016 to 70 percent for the quarter under review. On the other hand the average daily rate also surged from US$139 to US$146 in...

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Govt reduces mineral earnings targets

The government has revised downwards its mineral exports targets from US$3 billion to US$2.6 billion with chrome expected to meet its expected earnings while gold output was affected by the incessant rains experienced during the beginning of the year. In an interview with ZBC News on the sidelines of a stakeholders mining indaba held in Bulawayo, the  Minister of Mines and Mining Development Cde Walter Chidhakwa said as of the 15th of September, Zimbabwe had raked in US$1.6 billion in mineral exports. He however said, the government’s target of US$2.6 billion is anchored on ferrochrome which has met its...

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Rural communities in Masvingo forge towards resilience

The United Nations team in Zimbabwe concluded a three-day field visit form the 2nd to the 5th of this month to UN-supported humanitarian, community asset and resilience building projects in Masvingo, Mwenezi and Chivi districts in Masvingo Province. The UN team delegation led by the UN Resident Coordinator and UNDP resident representative, Mr Bishow Parajuli included UNICEF representative, Dr Mohamed Ayoya, IOM chief of mission, Ms Lily Sanya, UNDP country director, Mr Georges Van Monfort and WFP deputy country director, Mr Niels Balzer. During the visit, the UN team met with the provincial administrator, district administrators and representatives of...

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High default rates threaten empowerment policies

Youths are a key component of economic growth, however they are facing challenges in terms of access to credit lines to increase production and start viable projects that have the potential to increase employment, national economic growth rates among other key indicators. Experts therefore contend that high default rates, prohibitive lending or borrowing terms, collateral requirements have resulted in youths failing to get access to the loans. Zimbabwe’s economy needs active youths participation to increase value in key productive sectors. With official data showing youths account for more than 50 percent of the population, the current high interest regime and limited bankable projects have resulted in banks developing a cautious approach in funding youth projects, said an economist Mr Ignatious Matuingamire. But taking into consideration that loans are a key source of business for the banks tight lending or borrowing terms have also created challenges for the youths, according to a businessman Mr Shepherd Kembo. With the government forging ahead in establishing empowerment funding policies youths are experiencing several challenges in accessing low cost capital in Zimbabwe, said another businessman Mr Bernard Kasekete. The country is in need of local or domestic investments to create sources of additional financial inflows, increase employment opportunities, improve production, generate the much needed  foreign currency, to the extent that it is high time urgent  policies are put in place to solve funding challenges...

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Rhinos eye Chibuku finals

Black Rhinos will this weekend clash with Harare City in what promises to be an intriguing battle at Rufaro Stadium. In 1987 Stanford Stix Mtizwa scored a brace that ensured Black Rhinos overcame Caps United 2-0 in the Chibuku Super Cup final at Rufaro Stadium. Fast forward 20 years and the man popularly known as Stix is hoping to guide Black Rhinos to another Chibuku final. Given the club’s rich history Mtizwa said the army men will be a tough team to beat from the last 8 going forward. The soft spoken gaffer is however weary of the challenge...

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Second Asia African Youth Festival held  

Zimbabwe was honoured to lead the African delegation during the second edition of the recently held Asia African Youth Festival where youths from Africa unequivocally supported President Robert Mugabe’s vision of economic empowerment, value addition and beneficiation. The second edition of the festival took place last week in Beijing. The nine member delegation which comprised of Zanu PF youths, representatives from the China-Zimbabwe Youth Forum was led by the Zanu PF national secretary for external relations, Cde Anastancia Ndhlovu. The festival aims to promote the spirit of solidarity, companionship and co-operation among African and Asian countries. In an interview Cde Ndhlovu said African countries have begun to realise the need for the continent to exploit its abundant resources in line with President Mugabe’s vision, the ZIM ASSET and the African Union agenda 2063. The festival also created an opportunity for African countries to support fully the one China policy, imploring youths to embrace the various opportunities presented by the People’s Republic of China. Cde Ndhlovu commended China for being an all weather friend to Zimbabwe revealing that the mutual bilateral relationship has benefited both parties. The Asia African Youth Festival aims at strengthening and promoting Asian and African countries and to build a new pattern of wide ranging-multi level and all dimensional...

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