Zimplats says it is already compliant with Zimbabwe’s beneficiation requirements and will not be affected by the imposition of the punitive 15 percent levy on unprocessed platinum exports from next year, according to chief executive Alex Mhembere.
Binga North Member of Parliament Prince Sibanda said President Robert Mugabe’s speech at the official opening of Parliament was totally irrelevant as he did not address any issues that affect ordinary Zimbabweans.
Deputy Energy Minister Tsitsi Muzenda said oil producers refused to sell fuel to retailers because they owed them huge sums of money resulting in panic buying as people thought the country had run out of fuel.
Botswana-listed retail group, Choppies says revenue at its Zimbabwe operations grew by 17 percent in full year ended June 30 despite a sluggish economy underlined by chronic shortages of cash.
Simbisa Brands reported a net income of $6.3 million, up from $5 million last year driven by an eight percent growth in revenue. Revenue grew from $146.6 million in the same period last year to $158.9 million as the group opened up new stores across the region. In Kenya, Simbisa opened 8 new counters and closed four, bringing the total to 121 as at June 30.