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RBZ licenses deposit taking microfinance institutions
Business Reporter GETBUCKS Financial Services will soon start offering deposit taking services to the market following the issuance of a deposit-taking microfinance licence by the Reserve Bank of...
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Power projects on course: Undenge
Samuel UndengeConrad Mwanawashe Business Reporter Zimbabwe is on course to deliver an additional 720 megawatts during the next two years as the country intensifies efforts to increase power supply,...
View ArticleTIMB, Agritex assess tobacco crop ahead of marketing season
Elita Chikwati Agriculture Reporter The Tobacco Industry and Marketing Board and Agritex are conducting a crop assessment in all tobacco growing areas that will be used to prepare a crop estimate for...
View ArticleAvoid unplanned overdrafts
Sanderson Abel An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. In this situation the account is said to be “overdrawn”. If there is a prior...
View ArticleWorld stocks drop, Europe shrugs off oil slide
LONDON. — World stocks fell for the fifth straight day yesterday, anchored near their lowest level in more than two years with investors rattled by the slump in oil prices and a surge in offshore...
View ArticleBarclays forecasts more bearish oil outlook
NEW YORK. — With oil prices rapidly sliding toward sub-$30 territory, investments banks are racing to cut their forecasts to reflect the dire start to 2016.In a note late Monday, Barclays became the...
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Wilmar seeks $7,6m to recapitalise Olivine
Olivine has suffered from the high cost of finance and the liquidity crisis and frequent machine breakdowns as its equipment has outlived its lifespanTinashe Makichi Business Reporter Wilmar...
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Banks’ return on fixed term deposits declines: RBZ
Reserve Bank of ZimbabweBusiness Reporter Local commercial banks were providing an annual return as high as 17 percent on fixed term deposits in 2015, although this was a marked decline compared to the...
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Horticultural firms push for mandatory accreditation
Martin Kadzere Senior Business Reporter Horticultural companies are pushing for compulsory accreditation of fruit and vegetable exporters to ensure they comply with international food safety...
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African sunshine now tradable on bond market
NEW YORK. — Africa’s off-grid solar industry has been turned into an asset class for the first time, bundling contracts for thousands of the sun-powered rooftop electricity systems to sell as...
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Getbucks targets working man
MyBucks Global CEO Dave van Niekerk at the Getbucks head office in PretoriaHappiness Zengeni in Pretoria Financial technology company MyBucks parent company of the soon-to-be listed GetBucks Zimbabwe...
View ArticleNestle faces lawsuit over child slaves
New YORK. — The world’s largest food producer is to be sued over allegations that it used child slaves to harvest cocoa in the Ivory Coast in Africa. Nestle SA has lost its bid to throw out a court...
View ArticleHorizon Ivato expands shop
Business Reporter HIGH demand for hardware products has forced Horizon Ivato Supermarket to create extra space at its 6 000-square-metre premises at the Longcheng Plaza with construction of a new upper...
View ArticleMFIs cash in on ‘January disease’
Microfinance institutions (MFIs) across the country are cashing in on the proverbial “January disease” as parents battle to raise funds to pay schools fees as well as cover other pressing domestic...
View ArticleImplement CAADP to restore food security
Dr Gift Mugano The issue of food insecurity and low productivity is not a Zimbabwean problem alone but a continental one. The African Union (AU) recognised the challenges of food insecurity and low...
View ArticleOil price tumble hits jobs
LONDON. — Oil prices tumbled to within a whisker of $30 a barrel on Tuesday, extending a savage new year sell-off as BP axed thousands of jobs and Brazil’s Petrobras cut tens of billions of dollars in...
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Emirates upgrade services on Zimbabwe, Zambia route
Business Reporter Global airliner Emirates says it will enhance its on-board experience and increase capacity on its Zimbabwe and Zambia route with the deployment of a larger Boeing 777-300ER aircraft...
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ZAS adopts climate resilience concept
Building climate resilience systems will mitigate the effects of drought on cropsCurrently, climate resilience efforts encompass social, economic, technological, and political strategies that are being...
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Indigenisation: Non-compliant firms risk losing licences
Minister Patrick ZhuwaoTinashe Makichi Business Reporter Foreign-owned companies operating in reserved sectors of the economy are at risk of losing their licences if they fail to comply with the...
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Chinese firm to set up agric demo centres
A Chinese company has signed a deal with the Zimbabwean Government to set up eight satellite agricultural demonstration centres and experimental farms across the country in the next ten years for...
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