IFAD to invest US$67m in SACP to sustainably transform small-scale farming sector

ZIMBABWE – The International Fund for Agricultural Development (IFAD) has announced support for a new US$67.43 million investment programme that seeks to increase productivity and rural incomes for 78,000 vulnerable rural households in Zimbabwe. The Smallholder Agriculture Cluster Project (SACP) will increase productivity and household incomes by sustainably transforming the small-scale farming sector and increasing farmers’ participation in market-oriented and climate-smart value chains. It will provide technical assistance, matching grants and infrastructure investments to agricultural production groups (APGs), rural micro-enterprises and value chain lead enterprises that can take advantage of…

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BancABC unveils co-branded cards to drive digital payments and e-commerce in Zimbabwe

ZIMBABWE – BancABC Zimbabwe has launched a  new suite of co-branded Mastercard and Zimswitch payment cards for its customers which will enable customers to make safe and seamless digital, domestic and international payments including e-commerce transactions. BancABC is the first bank to launch Mastercard and Zimswitch co-branded cards, following a partnership between the national payment switch and the global payment technology company announced last year. “We are delighted to be the first to market with this solution. It is thanks to the collaborative partnership between Mastercard, a global financial services…

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Liquid and Microsoft partner to launch a video conferencing platform

ZIMBABWE – Pan-African technology group, Liquid Intelligent Technology, has partnered with Microsoft Corporation to launch a videoconferencing platform, OneVoice, which will allow Microsoft Teams to dial a landline or mobile phone. The new product comes at a time internet-based calling is gaining in popularity as people conduct more of their business online through platforms like Microsoft Teams, Zoom, WhatsApp and FaceTime as a result of the Covid-19 pandemic. Through the OneVoice platform, Liquid will allow Microsoft customers around the world to integrate telephone plans in Zimbabwe, Zambia, Kenya, South Africa,…

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Caledonia Mining advances multi-asset strategy with Zimbabwe acquisition

ZIMBABWE – Caledonia Mining has entered into an agreement to purchase the mining claims over the Maligreen project, a property situated in the Gweru mining district of Zimbabwe, from privately-owned Pan African Mining, for US$4 million in cash. Caledonia noted that Maligreen is a substantial brownfield exploration opportunity with significant historical exploration and evaluation work having been conducted on the property over the last 30 years. This includes an estimated 60,000 meters of diamond core and percussion drilling, 3.5 t of bulk metallurgical test work, and aeromagnetic and ground geophysical surveys. As of August 31, Maligreen is estimated to host a National Instrument…

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Agribusiness firm InspiraFarms opens regional office in Harare

ZIMBABWE – InspiraFarms is expanding its presence across Africa with the establishment of a regional office representation for Southern Africa, based in Harare, Zimbabwe. InspiraFarms’ team designs first-mile, on-farm pre-cooling cold chain and food handling solutions, which are made up of the best European technologies. Zimbabwe has become a key market for InspiraFarms, with the Zimbabwean horticultural sector growing rapidly in response to the increasing demand for fresh fruit and vegetables in the European Union (EU), UK, Middle East, Far East and regional markets. The expansion in demand is also…

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VFEX signs MoU with Dubai Exchange

ZIMBABWE – The Victoria Falls Stock Exchange (VFEX), a subsidiary of Zimbabwe Stock Exchange (ZSE), has signed a Memorandum of Understanding (MoU) with the Dubai Gold and Commodities Exchange (DGCX), the region’s leading derivatives exchange, to strengthen bilateral co-operation as well as exchange knowledge around commodities trading. As part of the agreement, the DGCX will extend technical support, knowledge and skills to VFEX with the ultimate aim of establishing an international commodities exchange in Zimbabwe, according to a ZSE statement. Additionally, VFEX will seek support from the DGCX in framing…

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Deutsche Bank severs ties to Standard Bank’s Zimbabwean unit

ZIMBABWE – Deutsche Bank has cut correspondent banking ties with Standard Bank Group’s Zimbabwean unit, dealing a body-blow to one of the few remaining international banking providers operational in the southern African nation, reports Blomberg. Stanbic Bank Zimbabwe, as the local unit is known, is the latest lender to have its US dollar correspondent banking services – which are key to facilitating foreign currency exchange and payments – terminated by an international bank.  “Deutsche Bank was no longer able to support the clearing of a few of our US dollar-based…

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Hybrid solar system powers Tanganda Tea Company in Zimbabwe

ZIMBABWE – South African renewable energy company, Blockpower, has announced the completion of the second phase of the installation of 4.6 MWp/1.44 MWh hybrid solar plus storage system for Zimbabwe’s Tanganda Tea Company (TTC). The system will provide power to the company’s agricultural estates in the Chipinge District of Zimbabwe. Tanganda Tea Company Limited is the largest producer, packer and distributor of tea products in Zimbabwe and additionally operate several estates which also cultivate coffee, macadamia nuts and avocadoes. Due to the inconsistent power supply in Zimbabwe, Blockpower was tasked to come up…

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Econet taps into Ericsson’s learning services digital platform

ZIMBABWE – Econet Wireless Zimbabwe (Econet) and Ericsson have announced a partnership to implement Ericsson’s Learning Services Digital Platform for Econet’s employees. Econet will have access to Ericsson’s premium e-learning content service, All Access Plus. The partnership with Ericsson enables Econet to utilize the Learning Services Digital Platform ensuring unlimited and uninterrupted access to Ericsson’s e-Learning content available in the global Ericsson training library.   As a knowledge library, All Access Plus is updated regularly and includes more than 200 interactive training and videos, podcasts, and white papers. This partnership gives…

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Qatar Airways debuts Harare-Lusaka route

ZIMBABWE – Qatar Airways has launched its first flight to Harare and Lusaka bringing connectivity and enhancing trade between the Southern Africa region and the Middle East The three-times a week Harare service will be operated by the airline’s state-of-the-art Boeing 787 Dreamliner featuring 22 seats in Business Class seats and 232 seats in Economy Class. Businesses and traders are set to benefit from the airline’s cargo offering carrying more than 30 tonnes of cargo per week. Qatar Airways group chief executive Akbar Al Baker said the coming in of…

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