Category: Business

Mining stakeholders push for release of mines

A newly established trust is set to ease the plight of people who were affected by mine closures by pushing for the release and the return of underutilised claims to the former miners and the community in a move likely to increase the volumes of gold deliveries to the Fidelity Printers and Refiners. Zimbabwe could be losing millions of dollars in potential revenue as big mining giants are holding on to claims for speculative purposes while some mines are said to be closing viable operations in what some former owners claim to be actions aimed at sabotaging the country’s...

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Masvingo launches its branding project

Masvingo Province has launched its branding project expected to attract investors, in line with the national branding process meant to market Brand Zimbabwe. The process to create the Masvingo brand started in March this year, with various stakeholders coming together for the project. The launch of Brand Masvingo includes the creation of a website, brochure, video and the provincial brand statement which all highlight the business opportunities in the province. Masvingo Minister of State for Provincial Affairs, Josiah Hungwe urged the people of Masvingo to tap into the business opportunities. “We want the people of Masvingo to benefit from their...

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Grocery imports decline

The Reserve Bank of Zimbabwe says the value of consumer goods imports has since January dropped to $401 million from $610 million same period last year.                         The appetite for grocery imports by Zimbabweans is seemingly dropping on the back of a rebound in locally manufactured goods.    The trend, according to the RBZ data, has led to productive imports overtaking the consumer goods imports in the first six months. While the drop in consumer imports is a positive element, it has, however, exerted pressures on the foreign exchange requirements by industry to sustain local demand, said an economist Mr Ignatious...

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Chilean Gold Milling Plant commissioned

The Minister of Foreign Affairs and International Trade Retired Lieutenant General Dr Sibusiso Moyo has commissioned the Chilean Gold Milling Plant in Mberengwa marking a shift from the traditional method of mining to the more efficient and technologically advanced way of extracting the precious mineral. After a thorough assessment on the environmental impact of gold panning in Mberengwa and the traditionally accustomed method in extraction of the pick and shovel, Mr Moyo had to lure investors to assist in the sector. Through the mantra Zimbabwe is open for business, the Chinese donated a gold milling plant at a mine...

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Fastjet launches Hre-Byo flight

The new dispensation’s Zimbabwe is Open for Business mantra is gaining momentum with low cost Pan African airline, Fastjet spreading its flying wings by making its maiden Harare to Bulawayo trip today. Officiating at the occasion to mark the airline’s maiden flight, Director of Aviation and Rail Transport in the Ministry of Transport and Infrastructural Development, Mr Allowance Sango, who was standing in for Minister Joram Gumbo, said the airline’s achievement was necessitated by the government’s liberalisation of skies. “The opening up of the Harare-Bulawayo route and others is indeed testimony to Zimbabwe’s commitment towards full implementation of the...

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