Day: October 6, 2017

Industry pins hope on US$600 mn nostro facility              

The business community is pinning hopes of increased production on a US$600 million nostro stabilisation facility that is now being drawn down by the central bank.                Assurances by the Reserve Bank of Zimbabwe governor that the monetary authorities have started accessing the US$600 million facility from regional financier Afreximbank have brought optimism to industry of increased viability. Bakeries Association of Zimbabwe president, Mr Ngoni Mazango said industry needs foreign currency to operate at break-even levels.                          The nostro stabilisation facility is also critical in addressing high production costs affecting firms, said DZL marketing executive Mrs Tracy Mutaviri.                         Zimbabwe’s manufacturing sector...

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Govt finalises ZINARA probe                              

An independent committee of experts has been set up to look into operations of the Zimbabwe National Roads Administration (ZINARA) as part of efforts to increase efficiency.    In order to bring closure to forensic audit findings on ZINARA, the government today set up an independent committee to complete investigations in the parastatal in the next two months.       The Minister of Transport and Infrastructural Development, Dr Jorum Gumbo said the outcome of the audit report indicate the need to restore sanity and increase viability on ZINARA.         The audit report recommended a need for enhanced efficiency to unlock value in the...

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Insukamini dam command fisheries programme restocked

The command fisheries programme at Insukamini dam was restocked amid a clarion call by Environment, Water and Climate Minister, Cde Oppah Muchinguri-Kashiri for the province to maintain clean and safe environments. This emerged during an outreach programme in Lower Gweru. The amount of waste being generated and accumulating in the streets, open spaces and in river banks in both urban and rural communities of the Midlands Province are a threat to both the environment and the health of the people. Cde Muchinguri-Kashiri said citizens hold the responsibility of creating safe and clean surroundings. She donated more than 200 citrus...

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Diesel, steel headache in Masvingo Natpharm project

Refusal by Masvingo fuel companies to supply diesel on a non cash basis and relying on steel imports from neighbouring South Africa have been cited as major challenges in the ongoing Natpharm project in the area. Health and Child Care Minister, Dr David Parirenyatwa has however expressed confidence the project will be completed by April 2018. The huge project expected to warehouse drugs for Masvingo and surrounding areas is currently contending with 2 major challenges, diesel and steel. Dr Parirenyatwa who was on a routine progress check of the ongoing project was told that local suppliers of fuel are...

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Accountants urged to shun corruption

Accountants have been challenged to shun corruption and fight all forms of white collar crimes and contribute to economic development. Anti corruption commissioner, Dr Cathy Muchechetere made the call during the Southern Africa Association of Accountants (SAAA) in Harare. 59 accountants were conferred with diplomas after completing their accounting studies. Guest speaker at the 2017 SAAA, Dr Muchechetere implored accountants to be professional and contribute to economic development. She said corruption is a vice which needs to be stopped to avoid derailing economic future and prosperity. There is need to uphold ethical values and professionalism noted SAAA Council president,...

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New A1 permits to provide security of tenure

Government has embarked on an exercise to issue A1 permits to resettled farmers, a new development which will enable all land beneficiaries to safeguard their allocated land for life. The Ministry of Land and Rural Resettlement has intensified land mapping and data collection exercises for production of farm layouts and new A1 permits. Five teams are on the ground and with funds permitting 22 teams will be dispatched to all provinces to carry out the exercise which will see resettled farmers being registered to get new permits. Apart from protecting and allowing the farmers to invest with confidence, it...

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All set for national youth assembly

Zanu PF youth leaders from the ten country’s provinces will converge in Harare tomorrow for the annual national youth assembly to deliberate on the state of Youth League ahead of the December conference. The Zanu PF Secretary for Youth League, Cde Kudzai Chipanga told ZBC News that all is set for the annual national youth assembly slated for tomorrow with a number of committees now ready to brainstorm on socio-economic and political issues affecting the youth. The high level meeting is also expected to finalise on fund mobilisation for about 150 youths who will attend the world 19th edition...

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Abuse of social media can be managed: Bukhari

Pakistan says the abuse of social media can be managed through the enacting of legislation that addresses such challenges. This comes as Pakistan and Zimbabwe are mooting cooperation in the field of media, education and information communication technology (ICT). Pakistan Ambassador to Zimbabwe, Mr Riaz Bukhari met with the Minister of Information, Media and Broadcasting Services Dr Chris Mushohwe to discuss on the possible areas of cooperation with the view of furthering the existing social economic relations. The Pakistan Ambassador said his county has put in place legislation to deal with cyber security and promotion of development through technology....

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Govt reaffirms commitment to protect local industry

The first draft of the local policy content which will stipulate percentage thresholds for goods that will qualify as locally produced to support domestic production is expected to be complete by the first week of December. Government and industry are in agreement that the formulation of a local content policy represents an opportunity to grow the local industry and help reduce the country’s huge import bill which stood above US$5 billion last year. In June last year, government started a journey to protect the local industry through the crafting of statutory instrument 64 with impressive success, however industry still...

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Govt hails Masvingo waste recycling project

A waste recycling project championed by women in the Mucheke suburb of Masvingo has drawn the attention of government which has stepped in to provide more resources. It all began as a waste collection exercise which then gave birth to a business idea which is now bearing fruit. The women were given a stand in Mucheke suburb by the Masvingo Town Council. While working with the Environmental Management Authority (EMA) they started making bricks, baskets and many other products which are being sold. Environment, Water and Climate Minister, Cde Oppah Muchinguri-Kashiri lauded the project and pledged full support to...

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