Mnangagwa Business Politics 

Mugabe vs Mnangagwa and us all!

Many have said it, and it is much true that our politics is the politics of the stomach, they have said bring principles to a hungry man on one hand, and a bag of mealie-meal on the other hand, the man will choose the mealie-meal a thousand times the choice is repeated. The English say, once beaten twice shy, I guess we have to qualify that, and say it only applies not to a hungry man, because if hungry he will wag his tail marching towards the beating so long…

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website Business Local News News Politics 

Mnangagwa Unveils Pretty-Ugly Website

Many business decisions start with search engines today, and if you do not have your own website, you are only reaching about 6% of your market.The design of your website is more important for conversions than you think. You can implement any conversion boosting tactic in the world, but if it looks like crap, it won’t do you much good. Design is not just something designers do. Design is marketing. Design is your product and how it works. President Mnangagwa has a formidable online presence, and he is once again…

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SMM Business Editor's Choice Local News 

Shabanie Mashava Mine (SMM) reopening is a joke: Workers

Workers of Shabanie Mashava Mines SMM say the proposed reopening of the mine is a joke adding that they are tired of hearing the same story over and over again. This came out at a Mines and Energy Parliamentary Portfolio Committee hearing held in the mining town at Nyaradzai Hall. A representative of the workers said a committee led by the Chindori Chininga came and promised that the mine will be resuscitated but the later has since passed away and there is still no sign of the mine reopening.The mine’s…

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John Mangudya Business 

Zim banks running out of cash again?

Central bank governor John Mangudya presents the Monetary Policy Statement at the Reserve Bank of Zimbabwe yesterday Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says withdrawals are now averaging $5,5 million a day, showing that more depositors will find it harder to access money from banks. The $5,5m worth of withdrawals is from the 19 banking institutions in the country that include commercial banks, building societies and savings bank. Considering that 30% of the population are banked, these numbers are paltry, as evidenced by the fact that many depositors…

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‘Farmers should contend with $300 daily pay-out’

THE Tobacco Industry Marketing Board (TIMB) will not crucify the central bank if it fails to pay $300 per day to tobacco farmers, as there are other pressing cash demands in the economy. TIMB chairperson, Monica Chinamasa told journalists yesterday during a tour to assess tobacco floors’ preparedness ahead of the opening of the marketing season next Wednesday that the Reserve Bank of Zimbabwe (RBZ) was doing its best. “I have a lot of faith in RBZ. If they say $300, they will do their best to look for $300,…

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Millennium Footwear Business 

Millennium Footwear records uptick in local demand

ONE of the country’s leading exotic leather shoe manufacturer, Millennium Footwear, has pushed up capacity utilisation to over 40% due to increase in local demand, the company’s director, Stuart Simali, has said. Established in 2000, the Bulawayo-based company has grown in leaps and bounds, having started as a small company manufacturing only sandals and moccasins. “At the time of inception, we used to make sandals and moccasins. We are currently making shoes from exotic leathers which include elephant, crocodile, ostrich, buffalo and giraffe to make casual, safari, classic shoes and…

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Truworths flourishes back to profitability

TRUWORTHS Zimbabwe overturned its loss making position registering a profit after tax of $548 095 for the half year ended January 7, 2018 on the back of increased sales. In the comparative period ended January 7, 2017 Truworths recorded a loss of $986 888. In its financial report for the period under review, Truworths said the gross profit margin improved to 50,5% based on the increase in sales. “The gross profit margin improved to 50,5% (2017: 38,1%) due to increased sales at full margin. Trading expenses excluding trade receivable costs…

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Nelson Chamisa Business Editor's Choice Elections Local News News Politics 

Chamisa to do away with bond notes

MDC Alliance presidential candidate Nelson Chamisa has said his administration will bring an end to cash shortages and scrap bond notes once elected into office. He told a campaign rally in Victoria Falls last Friday that Zimbabwe’s “bond note” currency – introduced by toppled despot Robert Mugabe’s government in November 2016 as part of a desperate bid to stave off a cash flow crisis, have failed. The bond notes are supposed to be traded 1 – 1 with the US dollar but are trading at anything up to 1-1,3. Zimbabwe…

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Wicknell Chivayo Business Editor's Choice Local News News 

Wicknell Chivayo faces imminent arrest

The noose is tightening around dubious businessman Wicknell Chivayo, who is now facing a real prospect of doing jail time again, after the Zimbabwe Power Company (ZPC) ominously told Parliament yesterday that it had finished its internal probe and had since reported him to both the police and the Zimbabwe Anti-Corruption Commission (Zacc). This comes after Chivayo, who is referred to by his close associates as Sir Wicknell, was controversially awarded a $200 million tender for the Gwanda Solar Project – but has done nothing meaningful to date, except putting…

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ZANU-PF Business Editor's Choice International Local News News Politics 

ZANU-PF throws away Mugabe policies

Zimbabwe’s ruling party, Zanu-PF, plans to improve its chances at the country’s national elections later this year by disposing of former president Robert Mugabe’s ‘look east’ policy towards China and Russia in favour of policies favoured by opposition parties. Citing three senior party officials, Bloomberg News said the country also wanted to breathe new life into Zimbabwe’s agricultural sector, and reverse its black economic empowerment policy of indigenization in which ownership of foreign companies is transferred to locals, all except diamond and platinum firms. Source: Byo24

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