‘New mines bill double-edged sword’

THE recently gazetted Mines and Minerals Bill is set to bring the much-needed regulation of critical minerals, promote local beneficiation and incorporate environmental considerations aligned to global sustainable mining practices, experts have said. They, however, fear that the proposed licensing fees are exorbitant and could deter foreign investment into the capital-intensive sector. The Bill introduces…

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RBZ targets gold smugglers

THE Reserve Bank of Zimbabwe’s Fidelity Gold Refinery has established a gold trade enforcement unit (GTEU) to bolster the integrity of the country’s precious mineral trading. Fidelity Gold Refinery general manager Peter Magaramombe yesterday said the GTEU had been established following recent amendments to the Gold Trade Act. It is aimed at curbing illegal gold…

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Local funding for tobacco

THE government is shifting focus towards increasing locally-sourced financing for tobacco production, a development set to enhance retention and propel the restructuring and upgrading of the tobacco value chain.Latest statistics from the industry indicate that 95 percent of Zimbabwe’s tobacco production is financed through offshore loans with the country retaining 12,5 percent of the total…

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ZTA hunts for new ceo

THE Zimbabwe Tourism Authority (ZTA) has begun its search for a new substantive chief executive officer, inviting applications for the top post. The position has been vacant since December 2023 when Winnie Muchanyuka resigned under unclear circumstances. According to a vacancy notice at the weekend, the incoming chief executive officer would be responsible for leading…

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‘SME accreditation key to growth’

WITH small to medium enterprises (SMEs) constituting the backbone of the national economy, yet often lagging in formal quality and compliance systems, the government is prioritising standards accreditation as a strategic catalyst for sector-wide growth.Speaking at the World Accreditation Day held in Harare last week the Ministry of Industry permanent secretary Thomas Wushe said that…

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TSL profit 43% up on improved volumes

TSL has recorded a 43 percent profit jump to US4,3 million for the six months ended April 30, 2025 due to volume growth across most group units. This was despite a slow start to the tobacco marketing sea son. The improved volumes were able to offset the impact of a 4,5 percent decrease in to…

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CR upgrades Nedbank Zimbabwe’s credit rating

GCR Ratings (GCR), a member of Moody’s Rating Agency, has upgraded Nedbank Zimbabwe’s national scale long-term issuer rating to A+ (ZW) from A (ZW), with a stable outlook. Accordingly, the bank’s shortterm national scale issuer rating has been affirmed at A1 (ZW). “The ratings upgrade reflect the increase in competitiveness score for Nedbank Zimbabwe relative…

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The ball is in Mthuli’s court

AS FINANCE minister Mthuli Ncube prepares to present his midterm budget statement, a crucial opportunity arises to implement changes for sustained economic development. The statement must address deep-seated issues of tax burden, currency fragility, and escalating debt, and ultimately foster a predictable and conducive business environment. Central to this review must be significant changes to…

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