BUSINESS NEWS

By Grace Chekai

Indigenous Petroleum Association of Zimbabwe (IPAZ) has requested the Government through Reserve Bank of Zimbabwe (R.B.Z) to increase the threshold for Letters of Credit (LCs) which they are allocated as a group.

By Business reporter

MINISTER of State for Masvingo Provincial Affairs, Ezra Chadzamira is reportedly pushing for the termination of the Cold Storage Commission (CSC) Boustead Beef deal after the investor, has seemingly failed to revive the company, Harare Post can report.

by Patience Rashai

The launch of the National Venture Capital Fund (NVCF) has been earmarked for April as Government steps up efforts to capacitate good entrepreneurship and innovation by SMEs.

by Derick Tsimba

The Reserve Bank of Zimbabwe (RBZ) and the Tobacco Industry and Marketing Board (TIMB) in a joint press statement have allayed fears regarding delays in payments, saying they will implement measures to ensure that tobacco growers are paid timeously for the 2020 tobacco selling season, the Harare Post can report.

by Rudo Saungweme     

CAPS Pharmaceutical is set to re-open a plant that manufactures drips in June this year, a development that will lessen burden on  Government`s largely owned Nat Pharm Pharmaceutical of importing drugs.

Dr Claver Nyuki

The Reserve Bank of Zimbabwe (RBZ) and the Tobacco Industry and Marketing Board (TIMB) assured tobacco farmers yesterday that this upcoming tobacco season, they will retain 50% of their sales in foreign currency which will not be liquidated.

By Grace Chekai

…as the rail utility finds suppliers of critical equipment

In a move designed to prevent total collapse of National Railways of Zimbabwe (NRZ), the rail utility has come up with a comprehensive recapitalization program, Harare Post can report.

By Rungano Dzikira

The Reserve Bank of Zimbabwe (RBZ) has set its target on achieving its proposed five year de-dollarisation programme saying that it was achievable once the economy stabilises its exchange rate and contain inflation.

By Rungano Dzikira

The Reserve Bank of Zimbabwe (RBZ) has introduced a managed floating exchange rate system, a move meant to arrest the run-away parallel foreign exchange market which has since been determining the exchange rate, likewise curbing the rate of inflation.

By Chiedza Muswe

Cabinet has resolved that chrome mining claims will be reallocated to other companies which will receive mining claims to sustain and expand ferrochrome production.

Derick Tsimba

ZimTrade, Zimbabwe’s national trade development and promotion body is undertaking a market survey in Mozambique to facilitate penetration of Zimbabwean products on the Mozambican market, The Harare Post can report.

by Rungano Dzikira

The Ministry of Energy and Power Development is working on an operating framework for fuel retailers to curb malpractices in the sector as it moves to protect consumers against the black market.