Business

Business / Economy ‘Cash-rich’ gold buyer invades Zimbabwe? by Staff reporter <!– –> Confusion is reigning supreme in the gold sector over the existence of a licenced gold buyer who is reportedly paying more than the official price set by the country’s repository authority, Fidelity Printers & Refiners (FPR). FPR …

TOBACCO Industry and Marketing Board (TIMB) is in trouble after it emerged that it was allowing some unlicensed companies to buy tobacco crop from unsuspecting farmers. BY FIDELITY MHLANGA TIMB chief executive Andrew Matibiri failed to provide satisfactory answers to the Justice Mayor Wadyajena-chaired Parliamentary Portfolio Committee on Agriculture on …

ZIMBABWE’S sugar industry expects to produce around 455 000 tonnes of the product this season, up 3% compared to the same period last year, Zimbabwe Sugar Association (ZSA) chairperson Muchadeyi Masunda has said. BY MTHANDAZO NYONI In a statement following “numerous enquiries” on the availability of sugar on the local …

Business / Economy Goobye interbank rate!…RBZ chief speaks on auction system by Staff Reporter <!– –> FARMERS, gold miners and other producers who have been crying foul over the 1:25 fixed interbank exchange rate have something to smile about as the Reserve Bank of Zimbabwe (RBZ) starts implementing the foreign …

MULTI-NATIONAL company Gold Leaf Tobacco Corporation (GLTC) co-owned by South Africa-based Zimbabwean tobacco mogul Simon George Wilburn Rudland, who also deals in tobacco processing, cigarette manufacturing, marketing and distribution, has proved to be a significant player in the industry. GLTC has made significant inroads into the market that was previously …

BY MTHANDAZO NYONI BLANKET Mine, one of Zimbabwe’s largest mining companies, continued with its strong financial and operating performance, registering a 146% increase in gross profit to US$10,6 million in the first quarter of this year. Blanket, which is controlled by Caledonia Mining Corporation (Caledonia), also registered a gross revenue …

THE Zimbabwe National Gazelles has launched a programme to support yet-to-be-identified small-to-medium enterprises (SMES) with an annual turnover of $1,2 million into medium-sized entities through intensive business workshops, coaching and mentoring and access to funding and markets. BY FIDELITY MHLANGA The programme is being managed by Kukura Business Accelerator (Pvt) …

ZIMBABWE’S richest man, telecommunications mogul, Strive Masiyiwa, was the leading influencer among business leaders on Facebook in the week ended April 19, 2020 beating the world’s second wealthiest man, Bill Gates, at number seven. TATIRA ZWINOIRA This was revealed in the Facebook owned, CrowdTangle, a leading content discovery and social …

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PRESIDENT Emmerson Mnangagwa’s government has sent a distress call to the International Finance Institutions for a bail package, admitting the cashless government was close to collapse and an implosion was imminent in the absence of the stimulus rescue package. By Everson Mushava According to Africa Confidential, Finance Minister Mthuli Ncube …