Karimatsenga relives career, eyes youth development

Karimatsenga relives career, eyes youth development

By Simbarashe Musaki FORMER Kambuzuma Utd FC and Underhill FC midfielder Stany Karimatsenga was so good and incredibly brilliant in the middle of the park and was renowned for his powerful long kicks, which earned him the nickname Chivhiri (wheel) during his heydays, as a professional footballer. The BusinessConnect in its quest to bring back a flood of memories regarding the country’s yesteryear football stars vestige Karimatsenga’s rise to the public eye. Karimatsenga whose role model was the legendary Caps Utd FC forward, Stewart ‘Shutto’ Murisa was born on September…

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Millions in need of humanitarian assistance

Millions in need of humanitarian assistance

By Nomthandazo Gabi ONE percent (%) of rural households received cash transfers from the Government, whilst in urban areas, the proportion that received COVID- 19 transfers (mobile money) rose from 3-10% as authorities moved to cushion vulnerable members of society as the COVID- 19 pandemic exposed millions to hunger. ZimStat reported the above statistics in its report: “Monitoring COVID- 19 impact on Households in Zimbabwe 2020”- in rounds 1 and 2, which were reportedly triggered by a large reduction in the share of rural households food aid, which fell from…

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Informal traders feel hard done

Informal traders feel hard done

By Edward Mukaro INFORMAL traders have called upon authorities to explain the selective application of the law upon selection of sectors allowed to open for business during the 30- day COVID- 19 induced lockdown. The Government recently announced intervention measures meant to curb the spread of COVID- 19 and it among these measures that informal traders have cried foul, as since the advent of the pandemic and the subsequent lockdowns that have followed have all forbidden informal traders to go about their business, despite the fact that the sectors employ…

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RBZ to dispose Tuli Coal

RBZ to dispose Tuli Coal

By Wellington Zimbowa THE country’s central bank is set to entirely dissociate from its coal mining subsidiary Tuli Coal (Pvt) Limited as well, as breaking Fidelity Printers and Refiners (Private) Limited into two separate entities. Reserve Bank OF Zimbabwe (RBZ) governor Dr John Mangudya in a recent press statement revealed that the central bank’s entire interest in Tuli Coal is set to be sold out to the government. He added that Fidelity Printers’ unbundling into to separate units will see one focusing on gold refining and with the other on…

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Business rallies for sustainable development practices

Business rallies for sustainable development practices

By Wellington Zimbowa THE Business Council for Sustainable Development Zimbabwe (BCSDZ) is optimistic over its achievements in the year 2020, in its drive to achieve sustainable development and business operations by corporates in the country. “The year 2020 has been successful in mainstreaming sustainable development in industrial operations since 1993. “In the year 2020, the association carried out activities and capacity building in Chemical Leasing – a new business model of selling functions of chemicals rather than quantities. We also offered technical training to our members in the areas of…

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BNC sales dip by 15%

BNC sales dip by 15%

By Wellington Zimbowa BINDURA Nickel Corporation (BNC) says nickel concentrate sales for the half-year ended 30 September 2020 recorded a 15% dip to 2 566 tonnes from 3 002 tonnes sold in the same period the preceding year, due to temporary market access glitches during the period April to June 2020 pending new intervention strategies following the termination of the Glencore Off-take Agreement. BNC reported a revenue of US$25.0 million, which was 12% lower than the US$28.3 million achieved the same period in the prior year due to a decline…

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Insurtech services drive Cassava growth

Insurtech services drive Cassava growth

By Nomthandazo Gabi DIVERSIFIED digital technology group, Cassava Smartech Zimbabwe Limited’s, Insurtech services arm has recorded revenue increase of about 131% for the third quarter ended 30 November 2020 compared to the prior quarter, buttressed by growth in short term insurance business, which registered a 165% increase in the prior quarter. However, the life business recorded a decline in terms of policies underwritten following the suspension of dome EcoCash services for premium payments by community groups. Improvement in banking services was recorded in the third quarter, to close at 81%…

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Vehicle licence fees increase justified?

Vehicle licence fees increase justified?

COMMENT WHILE the Minister of Finance might have pulled a masterstroke by the introduction of the Foreign Exchange Auction System, which ultimately stabilised the exchange rate, business and citizens alike had hoped that prices for basic needs would stabilize, but the market has proven otherwise. As curtains fell on 2020, most citizens would have hoped for a calm year, but before even before a week had elapsed the Zimbabwe National Roads Authority (ZINARA) has made price adjustments for vehicle licensing. The move comes at a time when most motorists will…

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Shell companies bleeding economies

Shell companies bleeding economies

By Edward Mukaro ZIMBABWE, like most developing nations in the Southern African Development Committee (SADC) and the globe at large, needs to do more to expose and bring to a halt the shady deals that have eroded the global economy, through the use of ‘shell companies commonly referred to as ‘Anonymous Companies’. Shell companies are generally used to circumvent high labour jurisdictions, to avoid social contributions and indeed to avoid and evade tax through aggressive planning. In an exclusive interview with The BusinessConnect, prominent economic and development analyst Dr Davison…

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Zim dedicated to fighting illicit business practices – FATF

Zim dedicated to fighting illicit business practices  – FATF

By Edward Mukaro ZIMBABWE has committed to actively work with international body, Financial Action Task Force (FATF) to counter illegal financial activities such as money laundering, terrorist financing and proliferation financing to counter to address strategic deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolving swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. This list is often externally referred to as the ‘grey list’. For all countries identified as high-risk, the FATF calls on all…

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