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African Sun to reduce debt
AFRICAN SUN has entered into a sale agreement for Dawn Properties’ linked units with Lengrah Investments, a related party. This will result in the hotel group disposing of 406 466 976 Dawn Properties’...
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Banks start opening yen, yuan accounts
Mr MushayavanhuBusiness Reporter SOME local banks have started opening accounts for transacting in the Japanese yen, Chinese yuan, Australian dollar and Indian rupee following the expansion of the...
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‘Beneficiation is non-negotiable’
MINISTER CHIDHAKWABusiness Reporter Discussions around beneficiation of minerals should not be on whether this should be done or not, but how it can be achieved, Mines and Mining Development Minister...
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Olivine seeks US$32m funding
Business Reporter Olivine Industries Limited requires about US$32 million to increase capacity and retool its plant, a company official said. The fast foods consumer goods manufacturer’s production...
View ArticleLearn to live for today
Zachary Aldwin Milkshake in the Boardroom I attended the funeral of a 35-year-old man whose life was cut short this past weekend. This was a case of a light snuffed out in the middle of what was by all...
View ArticleDuty free vehicle imports for safari operators
Did you know that in order to stimulate growth in the safari industry, the Minister of Finance and Economic Development has introduced a suspension of duty on specified new motor vehicles imported or...
View ArticleZim,Turkey perfect trade partners
Victoria Ruzvidzo Business Focus Over the years I have regarded Turkey as a quiet and almost insignificant player in the world economy but my recent trip to that country debunked these notions and...
View ArticleUS$22m bid for Homelink
Martin Kadzere Senior Business Reporter A CONSORTIUM of local and foreign investors has made a bid of US$22 million for Homelink Private Ltd, with the company’s management and OK Zimbabwe also said to...
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Nicoz Diamond invests US$1,2m in Mozambique
Business Reporter NICOZ Diamond has invested US$1,2 million as start-up capital in Mozambique and anticipates to realise good fortunes by the end of the year. Managing director Mrs Grace Muradzikwa...
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Maximise mineral revenue: WB
Ms PiffarettiBusiness Reporter ZIMBABWE needs to invest proceeds from mineral exports to diversify its industrial base for sustainable economic growth. This way the country can avoid potential eventual...
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Mauritian entity eyes Allied Bank stake
Allied Financial Holdings has secured an investor that will inject US$30 million to enable the group’s banking arm to meet regulatory minimum capital thresholdsGolden Sibanda Senior Business Reporter...
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CABS mortgage tenure up to 20 years
Business Reporter THE country’s largest building society by assets and market share, CABS has increased its mortgage tenure from 10 to 20 years with effect from March 1. CABS managing director Mr Kevin...
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Mwana share price rises
Golden Sibanda Senior Business Reporter Mwana Africa says it has achieved major milestones in terms of operations and the financial performance of its Zimbabwe subsidiaries and this is reflecting in...
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WhatsApp to introduce voice on
Tonderai Rutsito Business Correspondent “We’re going to introduce voice on in the second quarter of this year, we think we have the best voice product out there, we use the least amount of bandwidth...
View ArticleCarefully assess strings attached to aid
Abel Nerumedzo In the Money Africa’s greatest and oldest enemy from time immemorial has been the lack of funding to finance Industrial development and evolution. Africa is endowed with abundant natural...
View ArticleMbizi Game Park is the place to be
Isdore Guvamombe Tourism Matrix Confident in the camouflage of their stripes, zebras pose, heads aligned, stripes merging and flowing in motion, displaying their magnificent God-given colours. No...
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Huge industries are never gonna come back!
One of the trucks at Olivine Industries; the FMCG company requires at least US$32 million to recapitalise, US$4 million of which would be used to re-toolHappiness Zengeni My Two Cents! Olivine requires...
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Larfage aims for sales growth
Cement maker Lafarge is expecting to improve revenue by 10 percentLafarge Cement expects full year revenue to improve by 10 percent from the US$67,6 million reported last year. According to the group,...
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Employment for rural communities
Hon Mudarikwa SimbaneutaConrad Mwanawashe Business Reporter GOVERNMENT, through the Ministry of Youth, Indigenisation and Empowerment has joined hands with the International Labour Organisation and...
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Caps Holdings empire crumbles
Business Reporter ST Anne’s Hospital, a subsidiary of pharmaceutical group Caps Holdings, could become a subject of a hostile takeover bid by “a suitor” said to be linked to its former landlord...
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