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Net claims on Government up 77% year-on-year: RBZ data

00Net claims on Government up 77% year-on-year: RBZ data  HARARE – There was a 77% increase of claims on Government in the nine months to September against the comparable year ago period but the monthly growth has slowed, latest data from the Reserve Bank of Zimbabwe shows. According to the September monthly report, net claims…

Zim forecast to produce lower platinum in F17 as total mineral revenue remains flat in Q3

00Zim forecast to produce lower platinum in F17 as total mineral revenue remains flat in Q3 HARARE – Global refined platinum production is forecast to rise by two percent in 2017 with all regions except Zimbabwe expected to sustain or increase production levels, according to the World Platinum Council third quarter report. “With the exception…

NSSA ups NicozDiamond stake to +40% putting an end to the Zimre of old

00NSSA ups NicozDiamond stake to +40% putting an end to the Zimre of old HARARE –The National Social Security Authority has increased its shareholding in NicozDiamond to above 40% in a move that many analysts say pushes towards the end of the once-mighty Zimre Holdings group. NSSA took its shareholding to around 43% from 28.15%…

Capacity utilisation increases to 47.4% in 2016

00Capacity utilisation increases to 47.4% in 2016 Below we share the summarized results of the 2016 manufacturing sector survey, conducted by the Confederation of Zimbabwe Industries. Capacity Utilisation The country’s weighted capacity utilisation increased from 34,3 percent realised in 2015 to 47,4 percent this year. This is the first increase in capacity utilisation since 2011….

Foreign currency shortages threaten power imports, as ZESA warns of massive load shedding

00Foreign currency shortages threaten power imports, as ZESA warns of massive load shedding HARARE, ZESA Holdings says it is being allocated $1.5 mln per week against its $5 mln requirement for power imports. Group chief executive officer Eng Josh Chifamba told a parliamentary committee on Mines and Energy that the allocated funds are not enough…

Govt secures $25.5 mln grant for smallholder irrigation

00Govt secures $25.5 mln grant for smallholder irrigation HARARE – Government has secured a $25.5 mln grant from the International Fund for Agricultural Development (IFAD) aimed at supporting Zimbabwe’s Smallholder Irrigation Revitalization Programme (SIRP). Finance and Economic Development Minister Patrick Chinamasa in statement said the financing agreement, which was approved in September 2016, will be…

Familiar Story: The end of dollarization in Ecuador – The crisis has begun

00Familiar Story: The end of dollarization in Ecuador – The crisis has begun This story was published in June 2015 and yesterday economist and senior Fellow & Director of the TroubledCurrencies Project Prof Steve Hanke on his Twitter account said that “Socialist policies are sinking Ecuador and the  fall in competitive ranking. Dollarization is the…

Chengetedzai engaging potential issuers over ZSE’s debt securities market

00Chengetedzai engaging potential issuers over ZSE’s debt securities market HARARE – Chengetedzai Depository Company says it has started engaging potential issuers regarding on-boarding of eligible over-the-Counter (OTC) securities for the Zimbabwe Stock Exchange (ZSE) Debt securities market. However, the ZSE Debt Market Rules which will govern the market are yet to be gazetted by the…

ZIA approves $666 mln investment projects in ten months to Oct

00ZIA approves $666 mln investment projects in ten months to Oct HARARE – The Zimbabwe Investment Authority approved projects worth just over $666 million in the year to October with China, Mauritius and South Africa remaining the dominant source countries. Latest figures from the authority shows that the bulk of the projects approved are in…

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