Business

Africa open for business and needs more private investment

Africa holds enormous potential for private investors. Since the turn of the millennium, it has been among the world’s fastest growing regions. And although growth in some parts of Africa is fragile for the moment, the continent has an improving business environment, expanding internet connectivity, rising incomes, and shifting consumption patterns. These enduring trends have created an abundance of commercial ...

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Chinese development template inspires Mnangagwa

President Emmerson Mnangagwa has implored the Chinese business people to partner Zimbabwe in the new era with renewed hope of a prosperous future for all. President Mnangagwa was addressing the Sino Zimbabwe Business Forum in Beijing this morning which was attended by over 200 Chinese business people. Among them was a contingent of 70 Zimbabwean businesspeople. President Mnangagwa said Zimbabwe ...

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Call for Vic Falls re-zoning

STAKEHOLDERS who attended a recent planning meeting towards implementation of the Special Economic Zone (SEZ) in Victoria Falls have recommended re-zoning of the resort town. If adopted the move would likely see the industrial site being relocated to the proposed Ndlovu Satellite Town as part of measures to de-congest the town. ZTA chief executive Mr Karikoga Kaseke called for collaboration ...

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British Airways rejects London-Harare route plea

TOURISM minister Prisca Mupfumira recently approached British Airways (BA) regarding the possibility of direct flights between London and Harare but was turned down by the UK flag carrier, it has emerged. According to Zimbabwe Tourism Authority (ZTA) chief executive Karikoga Kaseke, BA was concerned that the route does not, presently, have enough business class potential to complement the undoubted economy ...

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Mnangagwa brings the money

President Emmerson Mnangagwa’s amnesty for illegal externalisation of money has shored up Zimbabwe’s foreign currency reserves – and has also exposed the impunity with which companies and individuals spirited away hard cash in recent years. On March 19 this year, President Mnangagwa made public a list of 1 844 firms and people who externalised an estimated $1 billion, following the ...

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Mnangagwa’s son-in law was acting as a front

A RENEWED ownership wrangle has erupted over the country’s third-largest mobile network operator, Telecel Zimbabwe, following the return of self-exiled businessman and co-founder James Makamba after 12 years in banishment, the Zimbabwe Independent has established. Makamba returned home immediately after former president Robert Mugabe was toppled in a military coup last November, paving way for President Emmerson Mnangagwa. Since his ...

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Hwange Colliery listed on Zimbabwe and London Stock Exchange – Chitando

Minister of Mines and Mining Development Winston Chitando has told parliament that despite the government of Zimbabwe owning 37% shares at the Hwange Colliery, the company is listed under the Zimbabwe and London Stock Exchange. He said it is not a Government owned entity. “Hwange Colliery is quoted on the Zimbabwe and London Stock Exchanges and Government is the single ...

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Business tackles Mnangagwa over forex list

Several companies that were last week named as having externalised foreign currency have approached government challenging the list which has strained the relationship between authorities and business. On Monday last week, President Emmerson Mnangagwa released the long-awaited list of alleged looters and externalisers which government said had failed to heed its 14-week amnesty to return millions of dollars that were ...

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Air Zimbabwe nears collapse

So bad has the financial and operational rot ravaging Air Zimbabwe become, that the flag carrier can now barely manage to ferry its domestic and international passengers – who are increasingly enduring horrendous flight cancellations and reschedulings. And although Air Zim’s fleet supposedly comprises 10 “active” aircraft – two Boeing 767s, three 737s, three MA60s and two Airbus A320s – ...

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RBZ wants more financial inclusion for women

THE Reserve Bank of Zimbabwe (RBZ) has called on women nationwide to embrace the financial inclusion programme to foster economic development in the country. Financial inclusion is meant to empower more people including marginalised groups to participate in the country’s financial services. The marginalised groups include informal traders, women and youths. Speaking on the sidelines of the Women Entrepreneurs Development ...

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