Zim faces massive load-shedding •$43m power import arrears cited •Eskom threatens action in 8 days

Felex Share Senior Reporter— Zimbabwe might experience massive load-shedding starting next week if Zesa Holdings fails to settle an outstanding power import bill of $43 million owed to Eskom of South Africa and Hydro Cahora Bassa (HCB) of Mozambique. Eskom supplies Zimbabwe with 300 megawatts, while HCB chips in with 50 megawatts. Related stories…… Power…
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$90m package for SMEs unveiled

Zvamaida Murwira Senior Reporter— Vice President Emmerson Mnangagwa yesterday launched a $90 million funding package to capacitate upcoming businesses across all sectors and help formalise their operations to ensure they contribute to the mainstream economy. This comes as Government enhances efforts to stimulate economic growth through small to medium enterprises. The $90 million package was…
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$20m facility for Bulawayo firms

Golden Sibanda Senior Business Reporter GOVERNMENT, through the ministries of Industry and Mines, will this week unveil nearly $20 million funding facility meant to capacitate three Bulawayo-based companies to manufacture equipment for small-scale miners. Industry and Commerce Minister Mike Bimha said his ministry together with his Mines and Mining Development counterpart, Walter Chidhakwa, will launch the…
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Bakers mull bread price increase

Conrad Mwanawashe Business Reporter BAKERS have hinted on an increase in the price of bread and other flour products following a rise in the prices of bread flour of between 10-25 percent as a result of nostro liquidity challenges. The nostro liquidity challenges have caused banks to sell euros, British pounds and South African rands to…
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RBZ eases foreign payments bottleneck

Happiness Zengeni and Conrad Mwanawashe The Reserve Bank of Zimbabwe has moved to ease foreign payments bottlenecks after it drew-down $100 million on the $150 million African Export-Import Bank loan facility yesterday. The central bank said apart from the Afreximbank facility, the release of the funds was made possible by export earnings from the sale…
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