NICKEL was Zimbabwe’s largest foreign currency earner during the 11 months to November 2020, as its exports grew by US$282 million to US$1,38 billion, official data shows. Figures released by the Zimbabwe National Statistics Agency last week showed that combined exports of nickel ores, concentrates and mattes surpassed major contributors — platinum and gold, which…
Zimbabwe’s Foreign Affairs and International Trade minister Sibusiso Moyo has succumbed to Covid 19, in Harare. He was 61. Moyo’s death yesterday comes as several other high-profile Zimbabweans, including cabinet ministers, are reeling from the deadly disease with people like Kombo Moyana, the first black Reserve Bank of Zimbabwe (RBZ) governor, Ellen Gwaradzimba, Manicaland…
THE government says its failure to meet its obligations to the United Nations (UN) was a result of foreign currency shortages which were compounded by the Covid-19 outbreak. This comes as Zimbabwe last week lost its voting rights in the General Assembly of the United Nations over a US$81 000 debt, which David Musabayana, the…
ZIMBABWE focused gold miner, Caledonia Mining Corporation (Caledonia), says Blanket Mine — its flagship operation in the country — produced 15 012 ounces of gold during the final quarter of 2020, pushing it to a record haulage of 57 899 ounces for the year. The mine produced 55 182 ounces of gold in 2019. In…
ZIMBABWE’S fertiliser manufacturers say they need allotments of at least US$500 000 per week to import raw materials and ramp up production to plug a shortage of the product in the market. Ordinarily, manufacturers can meet demand for basal fertiliser while only 30 percent of the country’s top-dressing fertiliser demands are met locally, with the…
AGRICULTURE minister, Anxious Masuka, says Zimbabwe is considering to partner China-owned defence company China National Aero-Technology Import and Export Corporation (CATIC) to fight an outbreak of the fall armyworm. “We have the devastating fall armyworm that is now prevalent throughout the country. In some instances, because of the weather, we only get a sun break…
THE world has been changing at an alarming rate and technology has disrupted the way business is being done. The global economy has evolved into the 4th industrial revolution (Industry 4.0) while the Internet of Things (IoT) has taken centre stage. This disruption has created opportunities for countries like the United States of America (US),…
SEEDCO International (SCIL) has made an offer to acquire all shares in SeedCo Limited (SCL) to complete a merger of the two companies. This comes after SCIL shareholders approved the proposed transaction, which is meant to strengthen its listing on the Victoria Falls Stock Exchange (VFEX), on December 31, 2020. SCL shareholders are being offered…
THE government has through Finance Act 2 of 2020 gazetted a new Valued Added Tax Withholding Tax (VAT WHT) rate, which will see its agents withholding 100 percent of VAT charged to them. This is with effect from this year. VAT WHT is collected by persons who have been appointed agents by the Zimbabwe Revenue…
THE twin challenges of a deadlier second regional wave of coronavirus, and last week’s travel warnings from some of Zimbabwe’s biggest international source markets, will have a devastating effect on the local tourism industry this year, experts have warned. Speaking to The Financial Gazette this week, the experts expressed fears that this double whammy would…
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