Funding hamper renewable energy projects

Funding hamper renewable energy projects

By Daniel Chigundu THE Renewable Energy Association of Zimbabwe (REAZ) says government should work hard to ensure companies operating in the country’s renewable energy sector have access to cheaper funds. Funding for capitalisation is expensive in Zimbabwe and those few institutions that are lending are doing so at ridiculously short term rates,  making it unsustainable for business. Zimbabwe is said to have an abundance of renewable energy resources in the area of solar and hydroelectric energy, wind and biogas, but companies operating in the sector are not able to fully…

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Cresta Hospitality eyes Pastor Chris

Cresta Hospitality eyes Pastor Chris

By Daniel Chigundu CRESTA HOSPITALITY Group says it has engaged Christ Embassy church with the view of hosting some of the delegation that will be on Pastor Chris Oyakhilome’s entourage when he comes to Zimbabwe. Pastor Chris, arguably one of the leading Christian preachers in the world is said to be coming to Zimbabwe for Worship, healing and communion service set for the National Sports Stadium on the 7th of May. The maverick Nigeria Pastor who is famed for drawing huge crowds when he host his crusades in such countries…

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Ministers are fair game

Ministers are fair game

By Ndafadza Madanha  LAST week Local government, Public works and National housing minister Saviour Kasukuwere made headlines for the wrong reasons when he launched a diatribe against the state media for carrying negative stories about him. In his moment of madness aptly captured on video and distributed on social media, Kasukuwere launched a tirade against specific characters from the state media using unprintable words not worth publishing but suffice to say, they are not expected from a supposedly “Honorable” figure. Kasukuwere like any citizen is entailed to express displeasure when…

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Lifeline for Zim Fish Farmers

Lifeline for Zim Fish Farmers

By Ndafadza Madanha  LOCAL Green house supplier, GreenCon has launched a revolutionary product that is targeted for fish farmers. The product dubbed “Fish in Tank” is housed in green house/tunnels enabling intensive fish production. Fish will grow in a tank contained in a greenhouse allowing them to grow at optimum levels and enhancing the viability of the venture. “We have decided to launch the fish in a tank owing to the high demand for sea food growing. In Zimbabwe we consume about 1.3m kg of per annum yet in Zambia…

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Agribank posts US$4.8 million profit

Agribank posts US$4.8 million profit

By Michael Gwarisa AGRO financial services concern Agribank registered a US$4.8 million profit for the period ended 31 December 2016 at the back of a myriad of cost containment strategies the bank adopted over the period under review. The profit according to the bank’s Chief Executive Officer Sam Malaba is a massive improvement from the US$6.3 million loss that was recorded in 2015. “The positive performance marked an indication of the solid turnaround for the bank premised on the implementation of a range of turnaround initiatives following the capitalisation of…

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Export incentive buoy Padenga earnings

Export incentive buoy Padenga earnings

By Ndafadza Madanha CROCODILE breeder Padenga holdings recorded a 26 percent in operating profit FY2016 on the back of increased volumes in skin sales and the 5 percent export incentive scheme introduced by the central to support exporters. Addressing an analyst briefing Padenga CEO Gary Sharp said the company had received $1.3m as export incentive. Operating profit was US$12.6m against US$9.9m recorded in 2015 while 47 909 crocodiles were culled representing a four percent increase against the corresponding period. The company which has operations both in Zimbabwe and USA, said…

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TelOne data centre to rake in US$2m

TelOne data centre to rake in US$2m

By Ndafadza Madanha TELONE ‘s new data centre is expected to rake in US$2m a month according to ICT, Postal and Courier Services minister Supa Mandiwanzira. The data centre built at a cost of US$4m under the first phase of the national broad band project will help companies cut costs and concentrate on core businesses. A data centre is a centralized location where large amounts of data are collected, stored, processed, distributed and accessed. “The data centre was built at a cost of US$4m and its capacity is huge and…

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Mangudya dismisses TB criticism…chides bankers on interest rates

Mangudya dismisses TB criticism…chides bankers on interest rates

By Ndafadza Madanha RESERVE bank of Zimbabwe (RBZ) governor John Mangudya says concern over the issuance of treasury bills (TBs) is unnecessary as the practice is common practice world over. His remarks come at a time when some market watchers have intimated that the issuance of TBs was crowding out the private sector and could have a negative impact on the economy. However, Mangudya said the criticism was largely “textbook economics” as the majority of TBs was intended to bolster the country’s production capacity. “Issuance of TBs is a common…

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A new gospel giant is born

A new gospel giant is born

By Michael Gwarisa GOSPEL music fans are in for a treat courtesy of one vibrant and young gospel sensation Willard Muzaeni whose latest album Nhaka Yekukunda has taken the market by storm. Having started his musical carrier at a very young age, Muzaeni has grown into a force to reckon with in the music industry as evidenced by the maturity he has exhibited throughout his musical journey. In an exclusive interview with The Business Connect entertainment, Muzaeni said his latest offering Nhaka Yekukunda has opened up new opportunities and doors he never…

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