NEW payment system that allows the use of domestic currencies within the African Free Continental Free Trade Area (AfCFTA) could save the bloc US$5 billion in conversion costs, an official has said. AfCTA secretary-general Wamkele Mene told the media in Harare last week that the new system is being piloted in Gambia, Ghana, Nigeria, Guinea,…
ZIMBABWEAN exporters should aggregate products to meet international orders, which usually require bulk consignments, ZimTrade has said. This comes amid rising demand for the country’s products, particularly in horticulture, from countries such as the United Arab Emirates (UAE), China and Russia. The trade promotion body recently said the country was failing to meet the new…
CFI Holdings gained 5 720 percent on the Zimbabwe Stock Exchange (ZSE) on Tuesday to close at $41,12 in its first trades since 2018, following the lifting of its suspension on the market last week. The counter’s year-to-date gains are now the third highest on the bourse, after Unifreight and GetBucks ― 18 700 percent…
CALEDONIA Mining has reported record production of 18 965 ounces of gold at Blanket Mine, for the quarter ended September 30, 2021. The record gold haul pushed production at the mine during the nine months to 48 872 ounces, 14 percent higher compared to the 42 887 ounces produced during the same period in 2020.…
TELECOMMUNICATIONS service provider TelOne has entered into a partnership with Africa University to develop knowledge and skills among its executives. Speaking at the programme’s inaugural graduation ceremony in Harare last week, Information and Communications Technology (ICT) minister Jenfan Muswere said the partnership will allow the organisation to get up to speed with global trends and…
THE 2022 budget must commit resources to industrialisation, specifically by coming up with a resource envelope that value chain players can tap into. In its draft pre-budget submissions, the Confederation of Zimbabwe Industries (CZI) said though the National Development Strategy (NDS1) has identified priority value chains, there are deep and embedded challenges, which require stimulation…
SCHWEPPES Zimbabwe Limited’s subsidiary, Beitbridge Juicing Company says it has seen an increased appetite for long-term collaborations, particularly from South Africa (SA)in the wake of supply chain disruptions after the outbreak of Covid-19. Schweppes commercial and public affairs director, Unaiswi Nyikadzino told the ZimTrade exporters conference in Harare last week that the interruptions had paved…
ZIMBABWE’S cryptocurrency community has welcomed impending legislative changes for the recognition of virtual assets as “securities”, saying this would allow innovation in the financial technology space. The country currently does not have legislation covering digital assets, a situation that has arrested the development of enterprise around blockchain technology and cryptocurrency phenomena, which have gained traction…
THE release of the Pandora Papers on October 4, 2021 caused quite a tumult. Thousands of companies, and the influential people behind them, were implicated in fraudulent misrepresentations, participating in and benefitting from illicit financial flows, concealing assets for the purpose of tax evasion and tax avoidance. This begs the question, when a corporate body…
GENERAL Beltings (GB) says it plans to expand into alternative markets to capitalise on an increase in demand in its space. The rubber and chemical products manufacturer, which serves the mining and agriculture sectors, posted a profit of $12 million for the half-year to June 30, 2021 compared to $3,3 million recorded in the prior…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More