Business
Audits of ZiG money supply once a year: RBZ
ZIMBABWE should use its own currency to achieve higher levels of economic growth while the supply of the Zimbabwe Gold (ZiG) will always match increases in gold and cash reserves, with audits of money supply expected to be conducted at least once a year, Reserve Bank of Zimbabwe Governor, Dr John Mushayavanhu, has said. In […]
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Energy investments cushion Zimbabwe from extensive load shedding
THE completion of the 600MW Hwange Thermal Power Station Units 7 and 8 project last year and the increasing private sector investment in renewable energy has cushioned Zimbabwe from extensive load shedding, at a time when power generation at the giant Kariba Hydro- Power Station has been crippled by low water levels due to drought. […]
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Airline, more major firms show confidence in ZiG
MAJOR companies, including an airline, are through with the necessary technicalities allowing them to accept payments in ZiG, with Reserve Bank Governor Dr John Mushayavanhu assuring Parliament yesterday that the Central Bank has enough reserves to back the new currency. ZiG continues to show its viability as the exchange tender of choice with more industry […]
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Challenges in disputes over valuation of shares
Godknows Hofisi Introduction I have written several articles on the valuation of businesses or shares or on disputes involving the same. In this article I give some insights on some challenges that may be encountered when attempting to resolve disputes on the valuation of shares. Challenges These may include the following: Lack of understanding of […]
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Proton Bakers to set up manufacturing plant in Bulawayo
PROTON Bakers has unveiled plans to set up a new manufacturing factory in Bulawayo as it expands the business with a focus on consolidating market footprint in the southern region. The Marondera-headquartered firm is pushing close to 40 000 loaves per day in Bulawayo. To further expand its reach, chief operations officer Mr Simba Bodzo […]
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Whopping US$1 million in prizes at OK grand challenge promotion
Renowned retail chain, OK Zimbabwe (OK) launched its 35th edition of the iconic OK Grand Challenge Jackpot Promotion at OK Mart in Harare yesterday. The promotion runs from April 3 to June 1st. OK boasts of 52 OK stores, 9 Borne Marche stores and 8 ok Mart and a stand-alone liquor store. This places the […]
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Mazowe Mine managers seek corporate rescue
Senior managers of Metallon Corporation’s Mazowe gold mine have filed a new application for corporate rescue with the High Court, about three years after a previous bankruptcy protection order was overturned by a higher court. Saddled with an alleged debt of US$25 million, primarily accumulated salary arrears, the managers contend that Mazowe Mine, said to […]
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3 investors eye sugar industry
THREE potential investors have expressed interest in tapping into investments in the country’s sugar industry amid plans to set up a new milling plant in the Lowveld, which could break the Tongaat Hulett-dominated monopoly in the sugar-producing industry. Government is working on facilitating the widening of the sector, as it believes this would result in […]
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Tobacco marketing season opens amid high hopes for better prices
Precious Manomano-Herald Reporter Farmers have started delivering tobacco to the two licenced auction floors ahead of the opening tomorrow, with high expectations for better prices this season. Deliveries of the contract crop start on Thursday. Tobacco growers were affected by poor rains and those who have a good crop expect better prices on the back […]
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TIMB sets 2024 tobacco marketing modalities . . . 32 buyers get licences
EXACTLY a week before the start of the 2024 tobacco marketing season, the Tobacco Industry and Marketing Board (TIMB) has announced the licencing of 32 contractors to buy leaf from farmers and spelt out strict modalities to curb side marketing. March 13 has already been set as the opening of the auction floors, with the […]
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