finance

Mining business confidence wanes

DESPITE recording subdued capital spending prospects and reporting a decline in the mining business confidence index, the sector is optimistic of better prospects in 2023. According to the State of the Mining Industry report released this week, key risks to the outlook for 2023 identified by mining executives include fragile power supply, high-cost structure, foreign…

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CBZ launches custodial trustee services

CBZ Bank (CBZ) has launched custodial trustee services to offer a wide range of services to both institutional and individual traders on the Zimbabwe Stock Exchange (ZSE) and Victoria Falls Stock Exchange (VFEX). With the new initiative, CBZ managing director Lawrence Nyazema said the financial institution seeks to position itself to partner with capital markets…

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Dubai seeks greater ties with Zimbabwe

THE Middle East’s business hub, Dubai, says it wants to grow business relationships with Zimbabwe, as it views Africa as a continent ready to fulfill its potential. Dubai International Chamber’s Middle East and Africa regional manager, Khalid Al Ali, told a national exporters conference in Harare that his home city’s success story was due to…

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Boost for local chilli exporters

ZIMTRADE says growing global demand for spices, coupled with dwindling supply from traditional source markets, presents an opportunity for local producers to increase chilli pepper exports into the world market. In a new note, the trade development and promotion body said demand was projected to go up due to consumers’ inclination towards organic and natural…

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Simbisa plans further stores roll-out

SIMBISA Brands (Simbisa) has set an ambitious target for its more developed markets — Zimbabwe and Kenya — to increase revenue streams through delivery channels and grow market share through new store openings. The African-focused restaurant company, which operates in nine African countries, owns and runs a portfolio of brands targeting consumers across all income…

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Talks on Old Mutual suspension show ‘promise’

OLD Mutual Zimbabwe (OM) chief executive Sam Matsekete says engagements with the government over the suspension of trading of the financial services group’s shares on the Zimbabwe Stock Exchange (ZSE) are showing “promise”. Fungibility of the OM’s shares on the ZSE was suspended in July 2019 — along with that of Seed Co International (Seed…

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Climate-smart agriculture to boost productivity

THE adoption of climate-smart agriculture will help boost productivity in the country and shield farmers against the ravaging effects of climate change, a leading economic advisory and investment firm has said. This comes as changing weather patterns have already affected Zimbabwe’s food security situation, as well as more than 60 percent of Zimbabweans who depend…

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