Business
Govt to provide guarantees for critical economic sectors
THE Government is considering providing guarantees to the private sector this year related to the ongoing disbursements of the Special Drawing Rights (SDRs) facilities, The Herald Finance and Business can reveal. The Treasury’s latest Public Debt Report highlights three facilities; the US$7,5 million Tourism Facilities Services Development and Upgrading Revolving Fund, the US$20 million Small […]
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CUT blossoms into export powerhouse with ZimTrade’s help
Chinhoyi University of Technology (CUT), once solely focused on education, is now making waves in the world of international trade thanks to a fruitful partnership with ZimTrade, Zimbabwe’s national trade development and promotion organisation. Collaboration between the two is transforming the university into a vibrant hub of innovative agriculture, with exports of rock melons already […]
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Business law: Breach, dispute resolution in contracts
Introduction Breach and disputes in contracts including commercial contracts are common in everyday life. In this article I look at providing for breach and disputes in contracts or agreements. Breach Many times I have encouraged clients to pay attention to the provisions on breach in contracts or agreements. There is a tendency to overlook this […]
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Meikles register 5% room occupancy increase
Meikles Limited recorded a 5% jump in room occupancy in the third quarter ended 30 November 2023. The company presented its third quarter trading update. “Room occupancy grew by five percentage points to 42% for the quarter from 37% achieved last year. The average room rate, in USD terms, was 13% above last year and, […]
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Zulu project to restart production next month
Premier African Minerals has maintained late February as the deadline for production-restart at its Zulu lithium and tantalum project in Matabeleland South Province. In November last year, the Zimbabwe-focused diversified mining group announced that plant operations at Zulu had been partially suspended to allow for civil construction to commence in preparation for the installation of the […]
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Zim’s agric labour practices charm world tobacco stakeholders
A PRESENTATION on the country’s agriculture labour practices (ALP) got plaudits at this year’s Tobacco Workers Conference (TWC) in Knoxville, Tennessee in United States with stakeholders recommending them for upcoming events such as the Cooperation Centre for Scientific Research Relative to Tobacco (CORESTA) annual conference. This was said by the Tobacco Industry and Marketing Board […]
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First batch of Cyber City villas on sale
Zimbabwe Cyber City’s luxury villas are now on sale, with prices ranging from US$520 000 to US$1,1 million, as shown in a flyer distributed by Pam Golding Properties. Work began on the first phase of Cyber City, a US$500 million mixed-use development envisioned as Africa’s first “smart city,” in Mount Hampden last year. The initial […]
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Pensions industry foreign currency assets in 42pc jump
Total foreign currency assets for the pensions industry jumped 42 percent to US$326 million during the nine months to September 30, 2023, compared to US$228 million recorded in the same period in the prior year. This comes as businesses and transactions are largely skewed towards US dollars as opposed to local currency. The Reserve Bank […]
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Coal exports, power generation hit new highs
Worldwide electricity generation from coal hit record highs in 2023, while thermal coal exports surpassed 1 billion metric tons for the first time as coal’s use in power systems continues to grow despite widespread efforts to cut back on fossil fuels. Coal-fired electricity generation was 8 295 terawatt hours (TWh) through October, up 1 percent […]
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Tobacco farmers want early start to 2024 marketing season
WITH 50 percent of the harvested irrigated tobacco now ready for marketing, farmers have called for an early start of the marketing season to avert potential storage losses with the Tobacco Industry and Marketing Board (TIMB) indicating that it was still going through the farmers’ representations and was also still to licence buyers. TIMB public […]
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