Parly warns Geiger International over contempt

Parly warns Geiger International over contempt

By Daniel Chigundu TRANSPORT and Infrastructure Development Portfolio Committee has warned Geiger International that they risk facing contempt charges for failing to appear before Parliament without giving reasons. Geiger International won the tender for the dualisation of the accident-prone Beitbridge-Masvingo-Harare which is valued at a cost of about US$2.7 billion. Former President of Zimbabwe Robert Mugabe did the ground-ceremony in May this year but work is yet to begin on the road 971-kilometre road. Parliament had summoned the Austrian company to come and give feedback on the progress with regards…

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Finance costs hamper Star Africa

Finance costs hamper Star Africa

By Ndafadza Madanha FINANCE costs continue to weigh down on the profitability of sugar concern Star Africa. Though the company recorded a 63 percent increase in income for the six months ending September it could not help avert a US$1.3m loss before tax. “In the six months ended 30 September 2017, the company achieved a 63 percent increase in turnover which totaled $23.2m compared with $14.3m recorded in prior year. The EBITDA amounted to 1.9million which is not only better than a negative of 0.3m in prior year but is…

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