Author: ZBC News Online

Bob select team to travel to Germany

A 40 member delegation comprising two basketball teams and a football squad will be travelling to Germany for a schools sports festival. It is exciting times for players that shone at the Bob 93 Sports Festival and were selected to compete at a schools sports festival in Hamburg, Germany. Speaking at an event to confirm the participation of three teams in Hamburg, Bob 93 Sports Festival chairman Tendai Zhakata said efforts to send the teams abroad emanate from a desire to develop budding athletes. One of the players who will be travelling for the Germany event Jacob Dinha could not hide his joy at the prospect of gaining much needed exposure. The Bob select team, is set to assemble for camp next week ahead of its departure scheduled for the 12th of April. The Bob select team is expected to spend 10 days in Germany from the 14th to the 24th of April. The Bob 93 Sports Festival organisers will next week hold a send off dinner which will also be used as a platform to fundraise for the...

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Banks to slash lending rates starting tomorrow

Zimbabwe’s banking institutions are with effect from tomorrow (1 April 2017) required to ensure that lending rates will not exceed 12 percent  per year to  boost credit to productive sectors of the economy. Concern is being raised that the lending rates which are hovering at 18 percent per year are still higher with all banks being directed by the Reserve Bank of Zimbabwe (RBZ) to ensure that the rates will not exceed 12 percent  with effect from the 1st of April this year. The directive is expected to provide relief to local companies that have been experiencing challenges in accessing loans for recapitalisation, says a commercial legal expert Mr James Makiya. “It is with great concern that the directive is coming at the best time,” said Mr Makiya. The financial sector has also been directed by the monetary authorities to ensure that  bank charges will not exceed three percent with effect from April 1 this year, a move an economic commentator Mr Wellington Koke says is important in restoring savings. “Savings are critical in unlocking the value of investments to boost capital inflows,” he said. The central bank governor Dr John Mangudya said in the 2017 monetary policy statement affordable credit is important to improve output and must be provided to large and small scale businesses and individuals to enable them to invest in productive sectors that increase jobs,...

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PSL holds club licensing workshop

The Castle Lager Premier Soccer League has held a club licensing workshop for all the premiership clubs to safeguard the credibility and integrity of the league and its competitions. All the 16 premiership clubs were represented as well as the division regional chairpersons, PSL board of governors and ZIFA board members attended the workshop facilitated by PSL chief executive officer Kennedy Ndebele. Among the issues discussed during the workshop include general management of the game, technical development, communications, principle of the game and the club licensing system. Ndebele said the objective of the workshop is to improve the level of professionalism within the football family in line with the Confederation of African Football (CAF) principles and guidelines. Vice-chairman of the ZIFA first instance body which is spearheading the club licensing and ZIFA northern region division one chairman Willard Manyengavana said only two clubs Caps United and Ngezi Platinum Stars had so far been awarded club licenses. The workshop is also aimed at promoting the sporting values in line with the principles of fair play, ensure a safe environment, transparency, ownership and control of clubs, disciplinary issues among other...

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ZSE ends week on high

Trading volumes on the Zimbabwe Stock Exchange (ZSE) ended on a high note this week despite the liquidity or cash-flow challenges hindering the smooth flow of deals. With ZSE listed counters such as Simbisa, African Sun, Meikles and Padenga among others also posting above market expectation full year financials activity has been on a high note this week. The industrial index closed the week on a high note after adding 0.21 points to settle at 138.96 points, while the mining or resources index was up by 4.62 points to close at 56.56 points. Old Mutual led the movers with a 2.81 cents gain to close at 356.18 cents and Seedco put on 2.00 cents to trade at 95.00 cents. PPC went up by 0.50 cents to 63.50 cents while CFI Holdings was 0.10 cents higher at 12.15 cents. Trading in the negative, Dawn  came off 0.05 cents to trade at 1.25 cents while  CBZ, Mashonaland Holdings and Rainbow Tourism Group each inched up by 0.01 cents to close at 9.99 cents, 2.00 cents and 1.19 cents. Week on week, the industrial index increased by 1.88 points. On the minings or resources, RioZim advanced by 5.95 cents to end at 40.00 cents while Bindura, Falgold and Hwange remained unchanged. Week on week mining index added 4.93...

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ZUSA games roar into life

The Zimbabwe Universities Sports Association (ZUSA) games roared into life today (Friday) at the University of Zimbabwe with calls on universities contributing towards the development of Zimbabwean sport. The role of universities has been instrumental in developing top athletes across the globe. Despite the existence of vibrant university programmes in other countries, Zimbabwe continues to lag behind due to a standpoint that views sport as insignificant at university level. ZUSA president Life Chemhere says the attitude colleges take towards sport is a fundamental part of efforts to transform the sports industry. Chemhere made the remarks after the commencement of the ZUSA games which got underway at the University of Zimbabwe this Friday. Zimbabwe Rugby Union president Nyararai Sibanda was the guest of honour at the official opening ceremony held in the capital. Hosts UZ, Chinhoyi University, National University of Science and Technology, Midlands State University and Lupane State University and Bindura University of Science Education make part of the 13 participants at this year’s...

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Youths critical in Zim’s economic development: VP Mphoko

Vice President Phelekezela Mphoko says youths have a special role to play in the struggle for economic independence. Cde Mphoko said this at a field day held at Umvukwe North farm in Mvurwi, Mazowe district owned by 33 year old Benedict Chagumuka. Chagumuka took over the running of the farm following the death of both his parents. This season the thriving farm boasts of 120 hectares under maize crop, 70 hectares of which is contracted under command agriculture. In his key note address Vice President Mphoko commended the young farmer for the high level of production at the farm. Cde Mphoko encouraged youths to be innovative and creative saying by constituting a large segment of the population they have a critical role to play in the country’s economic development. Chagumuka who has 15 full time employees at his farm is also into tobacco and soya-beans...

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Zim eyes tobacco value addition investments

The government  says local companies should take advantage of the increased  tobacco output to invest more into value addition  after revelations unprocessed tobacco is costing the nation millions of dollars in potential revenues. The Minister of Industry and Commerce Cde Mike Bimha told the ZBC News after the ISO certification of Savanna Tobacco in the capital on Thursday (today), the growth of the tobacco industry now depends on ability by the government to attract investors with technical expertise in the value addition of the crop to unlock more returns or profits and reduce dependency of exporting the commodity in its raw form. “We are now looking beyond to increase the value on investments,” he said. Value addition of the tobacco industry has the potential to earn the nation millions of dollars thereby enabling the government to undertake part of its fiscal obligations as well as creating sustainable growth for strategic industries, says Savanna Tobacco managing director Mr Adam Molai. “The need to unlock more value from the commodity is now of greater importance,” said Mr Molai. Value addition and beneficiation of the tobacco industry is also aimed at creating employment opportunities as well as facilitating viable returns for the tobacco growers across the...

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SAIC, ARIPO renew mou

The State Administration for Industry and Commerce (SAIC) of the Republic of China has renewed its memorandum of understanding with the African Regional Intellectual Property Organisation (ARIPO) on the provision of capital and technical expertise. The renewal of the memorandum of understanding between SAIC and ARIPO today in Harare, is aimed at increasing technical partnerships between the two organisations. The Minister of State Administration for Industry and Commerce in China Mr Mao Zhang says the agreement is important in increasing cooperation. The renewal of the agreement will also enable ARIPO to undertake its activities in a successful manner, according to the organisation’s director general Mr Fernando dos Santos. The renewal of the mou is also among other factors expected to result in the Republic of China endorsing most of the ARIPO developmental programmes in...

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Film industry a multi-billion dollar business: Mushohwe

Information, Media and Broadcasting Services Minister Dr Chris Mushohwe says the film industry is a multi-billion dollar sector which independent producers should fully embrace. Addressing Chipinge content creators who gathered at Goldfield Shopping Mall for the ongoing Zim digital content creators meeting, Dr Mushohwe said the film industry is poised for greater transformation. He said film industry is a multi-billion dollar industry which independent producers should embrace and run with. Dr Mushohwe said the digitalisation programme will rejuvenate and revive other sleeping economic sectors. Broadcasting Authority of Zimbabwe (BAZ) technical director Engineer Mathias Chakanyuka said the digitalisation programme has made great progress with two studios at Pockets Hill in Harare completed, the satellite uplink for signal distribution installed and the full digitalisation of six transmission sites. ZBC acting chief executive officer Mr Patrick Mavhura said the government has made huge investments in the digitalisation programme and content creators should live up to government’s expectations by generating adequate content. He added that through the digitalisation programme the film industry will become a major employment creator. Transmedia chief executive officer Mrs Florence Sigudu Matambo said the government has made great strides to ensure the successful implementation of the digitalisation programme and called for order and collective responsibility among the content creators. During the meeting content creators were shown the equipment which government has procured as part of the ongoing digitalisation investment....

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Mental health sector neglected: WHO

The World Health Organisation (WHO) says the mental health sector has been neglected for long despite the enactment of the mental health act in 1996, the mental health policy in 2004 and the strategic plan for mental health services designed to effectively implement all the regulations. On the 7th of April, Zimbabwe will join the rest of the world in commemorating World Health Day and this year stakeholders are focusing on key issues to tackle mental health in the country. WHO country representative Dr David Okello noted that mental health is one condition that does not take up a lot of resources, and the medication is very affordable. It has been noted that people with mental health illnesses, are not accessing health facilities or shy away due to the stigmas associated with the health conditions. Zimbabwe has two dedicated mental health institutions, Ingutsheni in Bulawayo and Ngomahuru in Masvingo and all major referral hospitals have psychiatric units to cater for mentally ill patients. Zimbabwe has a national mental health policy in place whose major aim is to harmonise mental health activities and improve quality of care of those living with mental disorders. The policy provides a framework within which mental health programmes, projects and activities are designed, implemented, monitored and...

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