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Government red flags bureaucratic bottlenecks

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AUTHORITIES have warned that the country’s economic transformation goals risk being derailed by entrenched bottlenecks in local government systems, urging councils to urgently modernise operations and adopt private-sector friendly reforms. Addressing delegates at the just-ended Zimbabwe National Chamber of Commerce (ZNCC) annual congress in Victoria Falls, the deputy minister of Local Government, Benjamin Kabikira, said…

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Financial crime under spotlight

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THE Financial Intelligence Unit (FIU) says accountants should be at the forefront of safeguarding the country’s financial reputation by fighting money laundering, terrorist financing and the illicit funding of weapons of mass destruction. Speaking during the 25th Annual Conference of the Southern African Association of Accountants (SAAA) last week, FIU representative Regiment Gwete described the…

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Mangudya calls for ‘cost-reflective’ power tariffs

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MUTAPA Investment Fund chief executive officer (CEO), John Mangudya, has called for cost-reflective power tariffs to ensure investments in the energy sector are sustainable and economically viable. He made the call on Friday at the Zesa risk management awards. “In addressing energy security, it is crucial that we focus on mitigating investment risks associated with…

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Government fights cotton side marketing

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THE minister of Agriculture, Anxious Masuka, says they have established 600 cotton selling points to rid the industry of side marketing that is shortchanging contractors. This comes as Masuka recently assured farmers that the Grain Marketing Board (GMB) was ready to pay an outstanding US$3 million debt it owes them. Addressing the media in Harare…

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ZimTrade pushes for deep intra-African trade

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ZIMBABWE’S Trade Development and Promotion Organisation, (ZimTrade), says the country must urgently strengthen its foothold in regional markets to unlock the full potential of the African Continental Free Trade Area (AfCFTA) and reduce trade barriers within the continent. Speaking to the Daily News on the side-lines of the Zimbabwe National Chamber of Commerce (ZNCC) congress…

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South African consumer confidence recovers in second quarter

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South African consumer confidence recovered in the second quarter A quarterly index measuring consumer sentiment climbed to -10 in the three months through June from -20 in the previous quarter, FirstRand’s First National Bank said in an emailed statement on Thursday. Other factors that also contributed to the improvement include additional withdrawals form the two-pot…

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‘Economy holds strong’

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THE Reserve Bank of Zimbabwe (RBZ) says the country’s economy continues to demonstrate strong resilience supported by growth in key sectors, improved foreign currency inflows, and a steady inflation environment. Speaking at the on-going Zimbabwe National Chamber of Commerce (ZNCC) annual congress yesterday, the RBZ deputy governor, Innocent Matshe, said the developing economy was also…

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