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Rand flat as dollar remains under pressure

The rand was flat against major currencies on Friday morning as the dollar remained under pressure after the US Federal Reserve increased interest rates on Wednesday but indicated it would not speed up the pace of tightening in 2017. Standard Bank trader Oliver Alwar said the “rand traded like the …

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Improve product standards, SMEs urged

Government says small and medium enterprises (SMEs) should work with the Standards Association of Zimbabwe to get guidance on improving product quality. The standardisation of products produced by SMEs is expected to enhance growth of business in the fast growing sector. Speaking at an awards ceremony for SME operators during …

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Zim diamonds saga rages on

Former Finance minister Tendai Biti says diamond producers operating in Marange were a “cabal of looters” and could have spirited away over $14 billion in seven years. NDAMU SANDU & MTHANDAZO NYONI Biti made the claims as experts called for a fiscal and regulatory regime to govern diamond operations and …

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SMEs warm up to secondary bourse

Small to medium enterprises (SMEs) say the setting up of a junior bourse will help companies raise equity funding. TATIRA ZWINOIRA The Zimbabwe Stock Exchange (ZSE) is in the process of setting up a secondary bourse, the Zimbabwe Emerging Enterprising Market (Zeem), meant to cater for SMEs. SME Association of …

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In the money: Policy inconsistency scaring away investors

The International Monetary Fund (IMF) has warned that United Kingdom’s economic growth is at the risk of the uncertainty arising in the run-up to the referendum on the country’s European Union (EU) membership this June. Telling CNN this last week, IMF’s chief Christine Lagarde echoes that “uncertainty is bad in …

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Mobile money innovation critical for revenue collection

I was listening to the radio recently when one presenter expressed their affection of the new Zimbabwe Revenue Authority (Zimra) system. They talked about how the web-based approach is so convenient that one can actually register his/her company for tax purposes and get tax clearance certificates without visiting any Zimra …

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‘Set up fund to rescue companies’

As companies continue to go through difficult times while some go under due to the prevailing harsh economic environment, experts believe there is need for the establishment of a fund to rescue troubled, but viable and critical companies. VICTORIA MTOMBA A number of companies have either been placed under judicial …

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Zanu PF fights weaken economy: Analysts

ZANU PF’s internal fights have devastating consequences for Zimbabwe’s economy. MTHANDAZO NYONI The latest effects have seen the local bourse losing more than $1 billion in 2015. Mugabe-gives-his-speech-Pic-Shepherd-Tozvireva1 Zanu PF is embroiled in vicious internal fights pitting two factions — one reportedly led by Vice-President Emmerson Mnangagwa and the other, …

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