September inflation rises 0,78 percent

Business Reporter September inflation rose to 0,78 percent following prices increases as foreign currency shortages continued to affect the retail sector but the full effect of the recent wave of price increases will only be felt in the October figures where it is expected to close above 1 percent. According to the Zimbabwe National Statistics Agency…
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SI 64 saves Zim $2bn

Business Reporters Zimbabwe saved over $2 billion in potential import expenses following the introduction of import control measures under Statutory Instrument 64 of 2016, Vice President Emmerson Mnangagwa said yesterday. Government last year introduced SI-64, effectively banning the importation of certain products without prior clearance in a bid to support local industry, which had suffered from…
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Delta lager volumes recover

Business Reporter DELTA Corporation lager volumes continued to show recovery for the second consecutive quarter spurred largely by improved disposable incomes in the agriculture and small scale mining sectors. In a trading update for the September quarter, Delta said lager beer volumes jumped 11 percent for the quarter and half year to September 2017, driven by…
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‘Declare entire Byo an SEZ’

Oliver Kazunga Senior Business Reporter INDUSTRY and commerce executives in Bulawayo have called on the Government to declare the entire city an industrial Special Economic Zone (SEZ) as opposed to adopting a sectoral approach. Contributing during a pre-budget dialogue symposium organised by The Chronicle yesterday, participants said the focus on leather and textile SEZ was narrow arguing…
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Afreximbank to bailout Zim

Taurai Mangudhla and Livingstone Marufu AFRICA’S trade finance bank, the African Export and Import Bank (Afreximbank), has made commitment to bailout Zimbabwe with about $1 billion to stabilise the economy. The Afreximbank on Saturday evening signed a memorandum of understanding with the Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya, for a $600 million…
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Cotton production up 150 percent

Business Reporter ZIMBABWE’S cotton production increased 150 percent this year, largely driven by Government’s free input support programme, according to official statistics. Cotton output increased to 70 000 tonnes, up from 28 000 tonnes produced during last season, latest figures from the Agriculture and Marketing Authority show. AMA has not yet declared the selling season closed…
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Ndudzo leaves IDC . . . as Kumalo takes over

Walter Muchinguri LONG serving Industrial Development Corporation of Zimbabwe Limited general manager Mr Michael Ndudzo, has left the institution after 26 years of service. IDC board chairman Mr Herbert Nkala said Mr Ndudzo had proceeded on normal retirement. Motec Holdings (Pvt) Limited group chief executive Mr Benjamin Kumalo has since replaced him. “The IDC board…
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ZCDC invests $30m in kimberlite mining

Livingstone Marufu Business Reporter THE Zimbabwe Consolidated Diamond Company (ZCDC) has invested $30 million in kimberlite mining and plant equipment from South Africa in a bid to exploit minerals for sustainability and growth. Of the total amount, $15 million is for mining equipment from South Africa and another $15 million is for setting up of the…
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Oil producers to fortify in 90 days

Livingstone Marufu Business Reporter OIL producers have finally agreed to fortify their cooking oil within 90 days with over 50 percent of the producers having already complied with the Government mandatory fortification programme, Oil Expressers Association of Zimbabwe (OEAZ) president Busisa Moyo said yesterday. Fortification entails adding minute levels of vitamins and minerals to foods during…
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Zamara to expand into Africa… To partner AAS Zim to grow southern Africa market

Business Editor Kenya’s largest pension fund administrator Zamara is planning to expand into Africa, north of the Limpopo, over the next five years, using the East African country and Zimbabwe as focal points. In Zimbabwe, Zamara will partner Atchison Actuarial Services (AAS), a subsidiary of Cormaton Consultants (Pvt Limited), a fund administration company. The two firms…
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