finance

Government pushes horticulture hubs

AGRICULTURE permanent secretary John Basera says the government intends to scale up production efficiency in the horticulture sector through the creation of networks around centres of excellence. Basera told the media this week after touring Selby Enterprise Farm on the outskirts of Harare that modernisation was critical for the sector to increase its exports. “We…

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ARDA takes over irrigation schemes

AGRICULTURE minister Anxious Masuka says the government has transitioned the management of 287 out of a total of 450 irrigation schemes to the state-owned Agricultural Rural Development Authority (ARDA). According to Masuka, this is being done to overhaul their governance systems, and ensure that they are run as viable businesses. He said agricultural development should…

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Government prioritises border efficiency

THE government is by next year aiming to fully operationalise the Zimbabwe Electronic Single Window (ZESW), which integrates all state agencies to ease border clearance processes in line with import, export, and transit-related regulatory requirements. The facility seeks to fully transform border posts from analogue to digital to enhance revenue collection and processing passage of…

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Government seeks to accelerate tourism reforms

TOURISM minister Mangaliso Ndlovu says Zimbabwe needs to accelerate ease-of-doing business reforms in the sector to capitalise on the post Covid-19 recovery and growth that the industry is currently experiencing. This comes as the government revealed that the tourism sector was on a rebound, with tourist arrivals increasing by 93 percent in Q1:22 as the…

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Zimbabwe’s fourth ETF launches today

MORGAN & CO, a local investment bank, is set to launch the country’s fourth Exchange Traded Fund (ETF) today. ETFs are managed funds that track the performance of a specified security, which include, but are not limited to equity indices, commodities and currencies. This fund will run under the theme “Made In Zimbabwe” and according…

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ZNCC congress set to offer currency solutions

THE forthcoming Zimbabwe National Chamber of Commerce (ZNCC) conference is set to offer solutions to the country’s currency crisis, amid rising prices of basic commodities. The congress set for June 29 to July 1, 2022, will be held at Elephant Hills in the resort city of Victoria Falls. “We have three major highlights. Number one,…

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Tanganda’s exports increase 14 percent

TANGANDA Tea Company says its exports increased to 3 747 tonnes for the six months to March 31, 2022, a 14 percent increase on prior year’s 3 278 tonnes. In a statement accompanying the group’s financial results, chairman Herbert Nkala said in spite of dry weather in December last year and February this year, the…

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Ariston’s profit surges 111 percent

ARISTON Holdings recorded an inflation adjusted profit after tax of $103 million for the six months to March 31, 2022, a 111 percent increase from $49 million achieved in the prior year. In a statement accompanying the group’s financials, Ariston’s chairman Alexander Jongwe said the group’s revenue declined to $634,8 million from $734,8 million. “Loss…

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Mastercard partners Ecobank on agric digitisation

MASTERCARD and Ecobank Group have partnered to connect millions of smallholder farmers in Sub-Saharan Africa to Mastercard’s Farm Pass — a digital platform that makes it safer and easier for farmers to sell their produce at a fair price. Under the partnership, Ecobank will extend the reach and impact of the Mastercard Farm Pass platform…

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ZB restructures its business

ZB Financial Holdings (ZB) says it will restructure its business to fit a new model that the group unveiled on Monday. The financial services group said it had embarked on a digital transformation programme that will see a new operating model under the mantra “One Digital ZB”. The digital transformation was done by Rubiem Consulting…

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