finance

‘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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