Business

Zimbabwe stops importation of diesel 500

Zimbabwe stopped the importation of diesel 500 from November 1, 2017, and is hoping to fully embrace D50 by March 2018. Zimbabwe Energy Regulatory Authority (Zera chief executive officer Engineer Gloria Magombo, said that the country has adequate local reserves that can last till the March 2018 deadline. The Zimbabwe Energy Regulatory Authority says it will clear all stocks of ...

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Zimbabwe airport still operational amid military coup

Local flight operators say it is business as usual for now, as speculation of coup in Zimbabwe continues. Videos posted to twitter show that entry to Robert Gabriel Mugabe (RGB) International Airport is currently being monitored by Zimbabwean military. There have been conflicting reports regarding flight operations from Harare since the Zimbabwean military started sending tanks into the capital on ...

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Kariba water pipeline for Harare

Harare City Council (HCC) is considering installing a pipeline from Kariba to supply water to Harare, rather than construct a dam, deputy mayor, Enock Mupamawonde, has advised. He argued that it is “actually way cheaper” to install the pipeline than construct a dam. Mupamawonde said the measure would ease the city’s perennial water problems, which have seen rationing and total ...

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Forex dealers back in town

Government seems to have lost the war against vendors and illegal foreign currency dealers, as most of the informal traders are trickling back into the Harare CBD, despite a massive joint police and council blitz against them. About a month ago, President Robert Mugabe ordered authorities to flush out the vendors and other informal traders from the Harare CBD, arguing ...

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Govt clarifies import relaxation

GOVERNMENT has clarified the easing of import controls on basic commodities saying the move does not render Statutory Instrument 64 of 2016 ineffective, but rather is a call for organisations with free funds to obtain licences for import permits to ensure adequate supplies during the Christmas period. Industry and Commerce Minister Dr Mike Bimha told The Herald Business that the ...

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CBZ introduces $2 monthly service fee for low cost bank account

CBZ Holdings is set to introduce a $2 monthly service fee for its low cost bank account Smartcash effective December. Smartcash account, launched in 2015, requires $5 to open and attracted no monthly service fee and minimum balance. “Dear Customer-Please note that effective 01/12/2017 the monthly account service fee for Smartcash will be US$2,” said CBZ via SMS to its ...

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Zimbabwe budget deficit to rise to $1.82 billion

Zimbabwe’s budget deficit will soar to $1.82 billion or 11.2 percent of GDP this year from an initial target of $400 million, new Finance Minister Ignatius Chombo told parliament on Thursday. President Robert Mugabe’s government is struggling to contain spending, with more than 90 percent of the budget going towards paying salaries for civil servants, which analysts say is too ...

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Delta – Coca Cola bottling discussions progressing slower than expected

Local beverage maker, Delta Corporation says discussions with Coca Cola Company’s (TCCC) intention to terminate bottling of Coca Cola beverages are progressing slower than anticipated. Delta is in discussions with TCCC so that it can continue producing Coca Cola beverages. This comes after Delta Corporation parent company SABMiller merged with AB InBev, a rival of the TCCC, in October 2016. ...

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Emirates declared Zimbabwe’s favourite airline

“Company wins travel agents’ award for 6th year running” HARARE, ZIMBABWE – Emirates, which flies daily from Harare to Lusaka and Dubai, has been voted the Best International Airline by the Association of Zimbabwe Travel Agents (AZTA) for the sixth consecutive year. Commenting on the recent award, Emirates Zimbabwe Commercial Manager Fahad Bastaki thanked the organisation for their recognition. “Emirates ...

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ZSE unmoved by Mnangagwa sacking

THE Zimbabwe Stock Exchange slowly edged on this week, unmoved by the sacking of Vice President Emmerson Mnangagwa and the ensuing political turmoil in government. The ZSE’s market capitalisation scaled the $15 billion level this week, above the country’s projected gross domestic product (GDP) for the year of $14,5 billion, pointing to an overvalued market. The projected GDP is, however, ...

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