We can’t formalize informal sector:RBZ

We can’t formalize informal sector:RBZ

By Ndafadza Madanha RESERVE Bank of Zimbabwe (RBZ) deputy governor Kupikile Mlambo says attempts to formalize the informal sector are likely to be unsuccessful. Mlambo’s sentiments come at a time when government is engaged in concerted effort to formalize the informal sector to enhance revenue generation. “You cannot formalize the informal sector because they are there for a reason but you can create linkages with the formal sector,” said Mlambo while addressing a Confederation of Zimbabwe Retailers Indaba. He said as part of the efforts to draw the informal sector…

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Tourism sector upbeat on export incentive

Tourism sector upbeat on export incentive

By Ndafadza Madanha  PLAYERS in the tourism sector are upbeat that the 5 percent export incentive extended to them by the Reserve Bank of Zimbabwe (RBZ) will help in restoring competitiveness and bolster foreign currency generation. Zimbabwe Council of Tourism (ZCT) president, Tich Hwingwiri said the incentive will cushion operators once foreign currency receipts improve. “We welcome the incentive which will cushion operators once the foreign receipts increase significantly. Destinations that attract foreign visitors such as Victoria Falls and cities such as Harare will benefit more compared to the other destinations…

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Carnival set for September …but are the Samba Queens coming or not?

Carnival set for September …but are the Samba Queens coming or not?

By Daniel Chigundu TOURISM and Hospitality Industry Minister Walter Mzembi says the 2017 edition Harare International Carnival will be held on the 9th of September as a precursor to the World Tourism Day (WTD). Initially there had been doubts whether the deemed controversial celebration of diversity will be held this year as the Zimbabwe Tourism Authority (ZTA) had indicated that it was facing financial challenges to fund the event. However government came in and pledged finances to clear debts accrued from previous editions and injected more for this year’s edition….

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Let’s sufficiently market our peace and security: Mzembi

Let’s sufficiently market our peace and security: Mzembi

By Daniel Chigundu TOURISM and Hospitality Industry Minister Walter Mzembi has called on Sub-Saharan Africa and Zimbabwe to efficiently market their peace so that they can attract tourists who have been put-off by conflicts elsewhere. Sub-Saharan Africa and Zimbabwe are generally peaceful and have not had wars for as many years unlike other regions in the continent. Addressing the media Minister Mzembi said peace and security are important enablers of tourism that need efficient marketing as no tourist would want to go to places that have conflicts. “We are reminded…

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PPC Zimbabwe reaches out to builders …move meant to encourage quality work

PPC Zimbabwe reaches out to builders …move meant to encourage quality work

By Daniel Chigundu PPC Zimbabwe has started reaching out to builders with a view to promote right use of cement and encourage quality work by builders. Addressing builders drawn from Tynwald and Madokero for a Builders Workshop, PPC Zimbabwe technical support specialist Nickie Runganga said builders are key in the development of a nation and his company has made is their responsibility to educate them on good practice. “We as PPC Zimbabwe have therefore made it our social responsibility to educate builders on the correct building practices so that we…

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Command mining under consideration: Mnangagwa

Command mining under consideration: Mnangagwa

By Ndafadza Madanha GOVERNMENT will not rush to introduce the command mining programme until it has structured a model that will ensure its viability and success. Speaking in Bulawayo recently Vice President Emmerson Mnangagwa said talk of the command mining concept was still a discussion contrary to claims that government was on the verge of introducing it structured along the command agriculture model. “No guarantee of the roll out we still are still discussing and we shall be meeting with the responsible ministries to see how small scale miners can…

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IDCZ eye OEMs

IDCZ eye OEMs

By Ndafadza Madanha THE Industrial Development Corporation of Zimbabwe (IDCZ) is currently in negotiations with a number of original equipment manufacturers to partner in the assembly of motor vehicles. IDCZ public relations advisor Derrick Sibanda said the organization had returned its subsidiary Willowvale motor industry to its pre1990 status as a multi contract assembler enabling it to pursue negotiations with OEMs to assemble vehicles locally. OEM is a company that makes a part or system that is used in another’s company end product. Willowvale motor industries recently entered into a…

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Dairibord Q1 revenue drops

Dairibord Q1 revenue drops

By Ndafadza Madanha DAIRIBORD says revenue for the first quarter was down two percent against the corresponding period FY16 owing to incessant rains that affected the country. Giving a trading update at the company AGM, group CEO Anthony Mandiwanzira said the company had recorded improved profit margins while operating cost were trending lower than the prior year. He said the company’s manning levels were also 10 percent down from December, with US$866 thousand spent on rationalizing costs against a budget of US$1 million. Mandiwanzira was optimistic the reduced overheads and…

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Govt. please speak with one voice

Govt. please speak with one voice

By Ndafadza Madanha WHOEVER said  “If a house is divided against itself, it cannot stand.” surely had the ruling Zanu-PF government in mind. The double speak and contradictory policy pronouncement by government officials’ in particular Cabinet ministers is now a serious cause for concern. Recently the minister of Industry and Commerce Mike Bimha was quoted saying that SI64 which restricted the importation of certain goods will be scrapped only for him to somersault a few days later and indicate the SI was here to stay. Bimha’s case is not an isolated case but they are many…

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CZI wants more Rands in circulation

CZI wants more Rands in circulation

By Michael Gwarisa CONFEDERATION of Zimbabwe Industries (CZI) President Busisa Moyo says industry has never called for the adoption of the Rand but rather pressed for more solutions to cushion industry from the prevailing cash crisis. Moyo’s sentiments come hot on the heels of President Robert Mugabe’s proclamation that Zimbabwe would never join the rand union as was being pushed by other sections of the economy. In an interview with The Business Connect, Moyo said there was a misunderstanding over industry’s position regards rand adoption. “I think sometimes we misunderstand…

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