Inadequate funding affects ZTA to strategies

Inadequate funding affects ZTA to strategies

By Daniel Chigundu ZIMBABWE Tourism Authority (ZTA) which is tasked with the important duty of marketing the country’s tourism destinations says it has been left with no choice but to re-strategize following inadequate budget allocations. ZTA had submitted a budget proposal of $21 970 567 which comprised government funding of $11 590 000 while the remainder is meant to come from the tourism levy. However, in its 2019 National Budget, the government only allocated them $5.5 million where the $5 million is directed towards operations while the $500k is to…

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Local firm to lure “diaspora dollars” for castor bean production

Local firm to lure “diaspora dollars” for castor bean production

By Ndafadza Madanha LOCAL firm Life Brand Agric Services is targeting the niche Zimbabwe diaspora community to be part of its castor growing program in the country. Remittances by Zimbabweans in the diaspora as of 2017 stood at US$780m and the company believes the money can be channeled to investments in the agriculture sector. Under the program Zimbabweans in the diaspora are required to invest US$3000 in the project and can anticipate returns in excess of US$10 000 per annum. The company seeks to rope in 80 000 households to grow 150…

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Zim pitches for investment in Germany

Zim pitches for investment in Germany

By Ndafadza Madanha ZIMBABWE is keen on attracting investment in the agriculture sector in order to increase productivity according to a senior government official currently in Berlin scouting for prospective investors. Deputy Minister of agriculture Douglas Karoro, who is in Germany attending the Global Forum for Food and Agriculture, took the opportunity to outline some potential investment opportunities in the agribusiness sphere to delegates. Karoro said the agriculture sector which grew by 12.4% in 2018 and is projected to grow by 9,4% in 2019 owing to the EL Nino induced…

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Zimbabwe is still a safe destination: Mutsvangwa

Zimbabwe is still a safe destination: Mutsvangwa

INFORMATION, Publicity and Broadcasting Services Minister Monica Mutsvangwa has urged tourists and locals to ignore last week’s events, adding that their security is guaranteed. Zimbabwe was last week engulfed by violent protests which were triggered by the government’s decision to increase fuel prices at a time when people are facing a lot of challenges economically. The protests, however, ended up forcing business to close down for almost a week before the security forces came in to calm the situation. However, speaking at the launch of the Tour Africa-New Horizon Project…

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Deal to bring 350 Chinese tourists monthly

Deal to bring 350 Chinese tourists monthly

By Daniel Chigundu ENVIRONMENT, Tourism and Hospitality Industry Minister Prisca Mupfumira says Zimbabwe will be receiving about 350 Chinese tourists monthly courtesy of the newly launched Tour Africa-New Horizon project. The project is a brainchild of Mr He Liehui the president and manager of Touch Road International Holdings Group and is a collaboration between Ethiopian Airlines, Tanzania and Zimbabwe. Speaking at the launch, Minister Mupfumira said China is working on strengthening hard infrastructure, soft infrastructure and cultural ties in 65 countries and that has necessitated the launch of the project….

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We are not on strike: Zimra

We are not on strike: Zimra

By Daniel Chigundu The Zimbabwe Revenue Authority (Zimra) has dismissed social media claims that its workers have embarked on an industrial action due to incapacitation caused by the economic meltdown in the country. Most workers in the country have circulated their notice for industrial action demanding better wages and cushion from the unreasonable transport prices. Among those statements that have circulated includes one that purports to be from Zimra workers. However, the country’s chief revenue collector disputed the alleged industrial action through a statement. “Contrary to reports that are circulating…

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TSP to assist SMEs formalisation

TSP to assist SMEs formalisation

By Daniel Chigundu THE Transitional Stabilisation Program (TSP) October 2018 to December 2020 says it endeavours to remove all the bottlenecks that have been making it difficult for small to medium enterprises (SMEs) from formalising. According to the FinScope MSME Survey Zimbabwe 2012, there are about 3.5 million SMEs in the country and only 15 percent of them are formalised. SMEs have since become the mainstay of Zimbabwe’s economy in the past decade accounting for more than 80 percent of employment while at the same time covering about 70 percent…

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Crisis, as Delta Corporation rejects Bond Notes

Crisis, as Delta Corporation rejects Bond Notes

By Daniel Chigundu GIANT beverages manufacturing firm, Delta Corporation has advised its wholesale and retail customers that it will now be selling its products in US Dollars beginning Friday (4 January 2019). Delta which accounts for the majority of beverages in the country both alcoholic and sparkling needs about US$40 to US$60 million per year to import raw materials from such countries as Swaziland. However, due to the prevailing economic hardships in the country, the company has been failing to get enough foreign currency to import the raw materials leading…

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