Ecobank rolls out $150m letter of credit lines
Ecobank Zimbabwe has rolled out over $150 million worth of letters of credit lines into the Zimbabwean market in the last eight months as the bank moves to support the economy. BY BUSINESS REPORTER...
View ArticleGovt fuels gold sector chaos
Government is fuelling corruption tendencies in the gold mining sector by failing to give miners the value of their product, Finance and Economic Development deputy minister Terence Mukupe has said. BY...
View ArticleDavipel opens state-of-the-art snack manufacturing, milling plant
Davipel Group of Companies has opened a state-of-the-art maize grit and snack manufacturing plant in the country. The $12 million plant comes at a time when the country is geared up for expansion in...
View ArticleGovt programme: Major boost for Harare roads
The Emergency Road Rehabilitation Programme (ERRP) is a Government of Zimbabwe programme that was initiated in order to rehabilitate the country’s road network that had been extensively damaged during...
View ArticleStructured finance
Structured Trade Finance (“STF”) is a growing form of finance which aims at circumventing some of the funding challenges identified in our article last week. STF involves the creation of instruments...
View ArticleRBZ Avails $20 Million for Wheat Imports
The Reserve Bank of Zimbabwe has released $20 million needed by millers to pay for the wheat they are importing from Canada and Germany. The $20 million is part payment for the 200 000 metric tonnes of...
View ArticleArmy Kicks Out Zanu-PF Youths From Foreign-Owned Gold Mine
The Zimbabwe National Army has moved to dislodge hordes of Zanu PF youths who had invaded a gold mine owned by a foreign company in the Midlands. This comes after some Zanu PF bigwigs in the province...
View ArticleRBZ Releases $20 Million for Wheat Imports
The Reserve Bank of Zimbabwe has released $20 million needed by millers to pay for the wheat they are importing from Canada and Germany. The $20 million is part of the payment for the 200 000 metric...
View ArticleEcobank to Source More Funds for Critical Imports
Ecobank Zimbabwe, a unit of Togo-based Ecobank Transnational Inc, is arranging a $45 million line of credit to fund importation of critical raw materials, an official has said. Zimbabwe is grappling...
View ArticleAgritrade to Contract 5 000 Farmers
Tobacco contractor, Agritrade is planning to support over 5 000 small scale farmers in the next cropping season from 4 000 after recording its best season this year. This comes when Zimbabwe’s tobacco...
View ArticlePos Machines Population Rises
Zimbabwe’s point-of-sale (POS) machine population increased by 18,3 percent in the first quarter of the year to 70 960. For the same period, there was also a marginal increase in the country’s number...
View ArticleEconet payroll moved to Ecocash
ECONET Wireless Zimbabwe has started paying its staff through EcoCash in what the telecommunications giant says is to spare its employees from the hassle of spending time in bank queues. BY BUSINESS...
View ArticleJapan Provides $21m for Road Project
By Africa Moyo Japan has extended a $21 million grant aid to Zimbabwe for the improvement of steep gradients on the Makuti-Chirundu section of the North-South Corridor. Finance and Economic Development...
View ArticleRBZ Releases $20m for Wheat Imports
By Livingstone Marufu The Reserve Bank of Zimbabwe (RBZ) has released $20 million requested by millers to import wheat from Canada and Germany in an effort to supplement national wheat stocks. The $20...
View ArticlePresident Reopens Eureka Gold Mine – Delta Gold Pours in $60m – Operation to...
By Farirai Machivenyika and Levi Mukarati President Mnangagwa yesterday officially reopened Eureka Gold Mine in Guruve, which is expected to produce at least 1,5 tonnes of gold annually when it reaches...
View ArticleGovt Programme – Major Boost for Harare Roads
The Emergency Road Rehabilitation Programme (ERRP) is a Government of Zimbabwe programme that was initiated in order to rehabilitate the country’s road network that had been extensively damaged during...
View ArticleZcdc Commits to Communities
By Abel Zhakata Zimbabwe Consolidated Diamond Company (ZCDC) is embarking on a robust social responsibility drive to allow communities to benefit meaningfully from mining operations in Chiadzwa and...
View ArticleBe Patient, Says VP Chiwenga
By George Maponga Vice President Constantino Chiwenga yesterday urged Zimbabweans to be patient with the new administration led by President Mnangagwa as it deserves more time to fully complete its...
View ArticleWhat You Need to Know About Internet Addiction
By Sacrifice Chirisa Ten years ago, the only people who spent a majority of their leisure time on the computer were paid members of the technology industry. Today, however, surfing the Web has become a...
View ArticleDavipel Opens State-of-the-Art Snack Manufacturing, Milling Plant
Davipel Group of Companies has opened a state-of-the-art maize grit and snack manufacturing plant in the country. The $12 million plant comes at a time when the country is geared up for expansion in...
View Article