Category: Business

ZSE records mixed note

Trading on the Zimbabwe Stock Exchange ended on a mixed note with gains being recorded in key listed counters. The industrial index gained by 0.85 percent to close at 517.02 points while the mining index gained by 0.03 percent to close at 134.48 points. Gainers included ZBFH 14.29 percent up to close at 40.00 cents, Natfoods was 8.54 percent up to close at 750.00 cents, Hippo rose by 7.06 percent to close at 168.00 cents and FML was 6.60 percent up to end at 21.32 cents. On the losers Axia was 1.52 percent down to close at 28.50 cents,...

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Zim out of deflation

Zimbabwe is now out of deflation, providing opportunities for increased business activities after recording a 0,78 inflation rate in September this year. Deflationary conditions that had made it difficult for business to operate at profitable trends on the back of limited buying power are now out as prices have increased by 0,78 percent between September last year and the same month this year. “The current inflation rate is therefore important towards attracting investment as it is an indication of stable economic conditions,” an economist, Professor Albert Makochekanwa said. “Indeed this is the best thing for the nation. Now there...

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Zim diamonds big sale on cards

Zimbabwe will soon proceed with the sale of the 1,4 million carats of diamonds stockpiled by the Zimbabwe Consolidated Diamond Company (ZCDC) since March this year after the finalisation of the selling modalities by the government. A report compiled by the Minister of Mines and Mining Development, Cde Walter Chidhakwa for presentation to global mining investors states that ZCDC has been stockpiling its diamond production since March preparing for a big sale. According to the report, modalities for the sale are now at an advanced stage with financial and marketing structures having already been established. The move has resulted...

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Mberengwa miners engage council

The Mberengwa Miners Association has met the Mberengwa Rural District Council to present its grievances and iron out sticking issues bethel miners and the rural authority. Petitioning their grievances, the miners’ representatives urged the local authority to work hand in hand with the miners since mining is one of the country’s economic drivers. Mberengwa Miners Association Secretary, Mr Nyenji said the rural district council should give miners first priority in their budget allocation in terms of their developmental projects, adding that the council should also have proper communication with the miners. In response, Mberengwa RDC representative, Mr Bawu Shumba pointed out that the reason why there is a delay in finishing up the projects of development which miners are yearning for is that some miners are not paying their mining levy which is slated at $10 per year. All being said and done, the conflict between these two partners is mainly caused by lack of proper communication between the authority and the...

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Govt disburses fund to women’s mining projects

The government has disbursed $166 500 to 18 small scale women’s mining projects dotted around the country as part of its efforts to empower them. 18 small scale mining projects run by women have benefited from the government’s 2017 Women’s Development Fund meant to capacitate them and ensure they contribute meaningfully to the economy. Beneficiaries of the fund totalling to $166 500 applauded the government for the initiative which they said will benefit them and the communities they live. Minister of Women Affairs, Gender and Community Development, Cde Nyasha Chikwinya said those who benefitted from the projects will be...

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