Mthuli condemns populace to more suffering

Mthuli condemns populace to more suffering

By Tendai Sahondo FINANCE and economic development minister Mthuli Ncube’s mid-term policy measures have heightened the suffering of hard pressed Zimbabweans as the prices of basic commodities have shot up beyond the reach of many. Zimbabweans who had been expecting the review to provide some measure of relief were bitterly disappointed as the policy pronouncements made last week only added salt to wounds. Triggering the escalation has been the unprecedented hike on fuel prices owing to the introduction of 45% and 40% excise duty per litre of petrol and diesel,…

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Appoint competent board members on state owned says Masunda

Appoint competent board members on state owned says Masunda

By Malcolm Meja Addressing business analysts and journalists in the capital today at the Bindura Nickel Corporation (BNC) analyst briefing, BNC Chairman Muchadeyi Masunda revealed that the listed firm faces risk of losing revenue owing to state owned logistics and power utility companies being run by incompetent individuals. BNC just like any other business institution in the country faces multiple risks as an entity if the prevailing economic conditions continue to deter. The mining firm is facing logistical and power supply constraints that will affect revenue inflow if they persevere….

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Poor nickel prices halt BNC smelter completion

Poor nickel prices halt BNC smelter completion

By Tendai Sahondo Bindura Nickel Corporation (BNC) has halted progress on its highly anticipated Nickel smelter as prevailing global nickel prices do not justify its completion, BNC MD Batirai Manhando has said. Speaking at an analyst briefing today, Manhando said the project which is currently 83% complete will be stalled until prices shore up to more sustainable levels of at least $15 000 per nickel tonne. “The fundamentals of completing the smelter project are not in place. We decided instead to recapitalise our operations and re-deepen Trojan mine. We continue…

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Ethical Leaf Tobacco sleeping with the devil

Ethical Leaf Tobacco sleeping with the devil

By Tendai Sahondo Ethical Leaf Tobacco is currently engaged in a questionable business alliance with dodgy Dubai based firm, Premier Leaf Tobacco (PLT) that was expelled from Malawi for unethical dealings and conniving with players in the industry to sabotage the Malawian economy. The firm which was declared an enemy of the state by deceased Malawian president, Bingu Wa Mutharika has since found a new home in Zimbabwe and a partner in ELT. This emerged during a parliamentary portfolio committee on Agriculture, Climate, Water, and Rural Resettlement which sought to…

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Not business as usual: Econet

Not business as usual: Econet

Staff reporter Leading mobile network operator, Econet, announced to its users it won’t be business as usual going forth as power cuts, increased fuel prices and high inflation rates continue to affect its operations. Econet released a statement on Sunday pleading with its customers to stand with them as they face high fuel cost, fluctuating inflation rates and plummeted voice call tariffs challenges. There have been outcries of dropping calls, cross-linking of voices and poor connectivity from users prompting the statement from the service provider. Zimbabwe Mobile Network Operators have…

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Agric Show dates moved a week back

Agric Show dates moved a week back

By Malcolm Meja The Zimbabwe Agricultural Society (ZAS) has announced that the Zimbabwe Agricultural Show will be moved to a week earlier from the previously announced dates. Earlier this year ZAS announced the annual Agric show was to be held from 26th to 31st August 2019. The show will now be held from 19-24 August 2019. Addressing journalists at a press conference today, ZAS Chief Executive Dr Masuka said, the sudden adjustment is owed to the need to realign its calendar to accommodate both its national and international stakeholders. Additionally,…

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All set for Zim Food and Culture Festival

All set for Zim Food and Culture Festival

PREPARATIONS for the inaugural Zim Food and Cultural Festival which kicks off this Thursdays (23 May) are said to be at an advanced stage. The festival which is a brainchild of First Lady Auxillia Mnangagwa seeks among other things to promote and restore cultural diversity, unite locals, bridge the cultural divide and more importantly promote domestic tourism. Scheduled for Harare Gardens from the 23rd to the 25th of May, the festival is centred on celebrating Zimbabwe’s authentic and unique cultural lifestyle through showcasing various traditional foods, languages, arts, music, crafts,…

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RTG Pursing an asset-light model to raise revenue.

RTG Pursing an asset-light model to raise revenue.

By Malcolm Meja Diversified tourism solutions group, Rainbow Tourism Group (RTG) will pursue an asset-light growth model in raising revenue for the group. The strategy will work hand in glove with the prevailing rooms portfolio to grow the groups diversification strides. This year the firm created two tour operating arms specializing on inbound and outbound travel. Exotic Travel International (ETI) a subsidiary based in the New York, United States and Heritage Expeditions Africa, the local arm that will sell packages for destinations around the country and the region. The two…

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Huge interest in 2019 fair

Huge interest in 2019 fair

By Staff Reporter THE 60th edition of the Zimbabwe International Trade Fair (ZITF) has attracted huge interest from both local and foreign exhibitors with space uptake hitting 100 percent. According to ZITF chair Ruth Ncube the company has availed additional space to meet demand and as per tradition the first three days will strictly be reserved for business to business trading. “Our targeted 2019 available space was taken up at 100%. Further to that we availed 5% additional space (2648m) to accommodate the overflow. 532 direct local exhibitors have booked…

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ZITF golf to benefit Idai reconstruction

ZITF golf to benefit Idai reconstruction

By Daniel Chigundu THE Zimbabwe International Trade Fair Company (ZITF) says proceeds from its 2019 edition of Charity Golf Challenge will be channelled towards Cyclone Idai reconstructions efforts. Government is currently sourcing funds from various sectors of the economy including the outside world in a bid to reconstruct infrastructure that was damaged by the ravaging Cyclone Idai. The cyclone which swept across five provinces across the country with the hardest hit districts of Chimanimani and Chipinge in Manicaland experiencing severe destruction of infrastructure and livelihoods.. Some of the infrastructure in…

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