GWERU-based ferrochrome processor Zimbabwe Alloys (ZimAlloys) says it requires US$16.3 million to restart two of its biggest furnaces. Managing director, Deric Dube, recently told The Financial Gazette that the funds would be raised through a phased approach. “At the moment, we don’t have virgin ferroalloy production; the ferroalloy that we trade and produce at the…
NEWLY-APPOINTED cabinet secretary Martin Rushwaya is expected to drive government’s economic agenda by sharpening policy coherence and helping the country to attract investments, analysts say. This comes as President Emmerson Mnangagwa has unveiled quite a number of key programmes, including the creation of the Mutapa Investment Fund, to shore up and reform certain aspects of…
Namibia has suspended imports of live poultry, birds and poultry products from South Africa following the spread of highly pathogenic avian influenza (HPAI) in the neighbouring country. The suspension is in effect until further notice, the agriculture ministry said in a statement released on Wednesday. South Africa is facing a major bird flu outbreak that…
PIPING products manufacturer, Proplastics, says its new investment of a 500mm production plant contributed 47 percent to total revenue during the half year ended June 30, 2023. The new production line, which has increased’ production capacity, manufacturers large bore PVC diameter pipes. The facility is expected to improve production capacity to 15 000 tonnes per…
SMALL scale miners have decried the inconsistencies in the Rural District Councils (RDC) taxing regimes saying it has grossly impacted their operations.
THE Zimbabwe Revenue Authority (Zimra) says its new Tax and Revenue Management System (TaRMS) is a game-changing solution for both domestic resource mobilisation and ease of doing business for taxpayers and agents. The new system will be implemented in three phases beginning next month, with the full system set to be in place by August…
BETA Holdings says construction of its new brick making plants in Mt Hampden and Melfort is almost complete as the group targets to boost production capacity. The projects are worth a combined US$6 million and are expected to increase production by 180 million bricks per year. In a statement this week, the brick-maker said it…
THE Zimbabwe Energy Regulatory Authority (Zera) says it expects a five percent annual increase in liquefied petroleum gas (LPG) usage despite a decline of 2,16 percent in the first half of the year. LPG consumption depreciated to 29,87 million kilograms (kg) in the first six months of 2023 from 30,53 million kg in the comparative…
THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says it is anticipating the import prices of bandwidth, network equipment and software to go down following the local currency’s recent appreciation against the US dollar. This comes as the economy has enjoyed currency stability over the past months after a protracted period of volatility. In…
THE Confederation of Zimbabwe Industries (CZI) president Kurai Matsheza says regulatory requirements have become a huge cost to business. Speaking during a business interface with newly-appointed Industry minister Sithembiso Nyoni, Matsheza said a recent CZI study found that meeting regulations was piling on business costs. “The regulatory environment (is weighing on) the ease of…
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