A digital copy of the BH24 (04 December 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
'Financial sector indigenisation measures to spur economic growth'Zimpapers Group (1980)
The Reserve Bank of Zimbabwe announced new financial sector compliance credits that are aligned with guidelines for implementing indigenisation and economic empowerment policies. Under the measures, financial institutions can earn empowerment credits by meeting objectives such as lending 20% of their portfolio to agriculture and energy or lending to small businesses. The credits contribute to the 51% indigenisation threshold required by law. Observers believe the measures will encourage banks to support economic growth sectors in line with indigenisation goals. The alternative is for institutions to pay an empowerment levy, though this is subject to rebates from specified activities.
Mimosa Platinum, a platinum mine in Zimbabwe owned by South African company Aquarius Platinum, increased platinum production by 2% in the first half of 2015 compared to the same period last year, but saw revenues decrease 32% to $99 million due to lower metal prices. While costs decreased slightly, earnings fell sharply due to the large drop in platinum prices. The mine produced 60,214 ounces of platinum group metals in the first half of 2015.
Govt losing millions on “suspiciously priced products,” claims BATZimpapers Group (1980)
The Zambian government has approved a new sliding scale for mine royalties on copper production that will range from 4-6% depending on copper prices. This aims to keep mines open and prevent further job losses as copper prices remain low. Royalties were previously fixed at 9% for open pit mines and 6% for underground. The new system is intended to balance government revenues with encouraging investment in the mining industry, which is struggling with low prices and high costs.
- A leading Zimbabwean think tank, ZEPARU, forecasts that Zimbabwe's inflation rate will rise slightly from -2.47% in December 2015 to -2.10% by March 2016. This is based on the assumption that policy measures from the 2016 national budget are implemented and the South African rand stabilizes.
- The RBZ is mobilizing long term affordable financing for gold and diamond miners to increase production and export earnings from these sectors. Gold production has been rising in recent years while the diamond sector has underperformed.
- Total Zimbabwe plans to invest $10 million in capital expenditure in 2016 as it looks to maintain service quality across its network of over 100 gas stations in the country.
The document discusses the impact of neoliberal policies in Malaysia and increasing income inequality. Some key points:
1) Wages and salaries make up a declining share of Malaysia's GDP, dropping from 28% in 2005 to an estimated 21% in 2020 under ETP projections, indicating a shift away from labor.
2) Income inequality in Malaysia has been worsening, with the top 20% of households earning nearly 7 times more than the bottom 40%. The GINI coefficient also shows Malaysia has high inequality.
3) Projections of job creation under ETP show most new jobs will be low-paying, with over 8 million workers estimated to earn less than RM3,000 monthly even with wage
'Financial sector indigenisation measures to spur economic growth'Zimpapers Group (1980)
The Reserve Bank of Zimbabwe announced new financial sector compliance credits that are aligned with guidelines for implementing indigenisation and economic empowerment policies. Under the measures, financial institutions can earn empowerment credits by meeting objectives such as lending 20% of their portfolio to agriculture and energy or lending to small businesses. The credits contribute to the 51% indigenisation threshold required by law. Observers believe the measures will encourage banks to support economic growth sectors in line with indigenisation goals. The alternative is for institutions to pay an empowerment levy, though this is subject to rebates from specified activities.
Mimosa Platinum, a platinum mine in Zimbabwe owned by South African company Aquarius Platinum, increased platinum production by 2% in the first half of 2015 compared to the same period last year, but saw revenues decrease 32% to $99 million due to lower metal prices. While costs decreased slightly, earnings fell sharply due to the large drop in platinum prices. The mine produced 60,214 ounces of platinum group metals in the first half of 2015.
Govt losing millions on “suspiciously priced products,” claims BATZimpapers Group (1980)
The Zambian government has approved a new sliding scale for mine royalties on copper production that will range from 4-6% depending on copper prices. This aims to keep mines open and prevent further job losses as copper prices remain low. Royalties were previously fixed at 9% for open pit mines and 6% for underground. The new system is intended to balance government revenues with encouraging investment in the mining industry, which is struggling with low prices and high costs.
- A leading Zimbabwean think tank, ZEPARU, forecasts that Zimbabwe's inflation rate will rise slightly from -2.47% in December 2015 to -2.10% by March 2016. This is based on the assumption that policy measures from the 2016 national budget are implemented and the South African rand stabilizes.
- The RBZ is mobilizing long term affordable financing for gold and diamond miners to increase production and export earnings from these sectors. Gold production has been rising in recent years while the diamond sector has underperformed.
- Total Zimbabwe plans to invest $10 million in capital expenditure in 2016 as it looks to maintain service quality across its network of over 100 gas stations in the country.
The document discusses the impact of neoliberal policies in Malaysia and increasing income inequality. Some key points:
1) Wages and salaries make up a declining share of Malaysia's GDP, dropping from 28% in 2005 to an estimated 21% in 2020 under ETP projections, indicating a shift away from labor.
2) Income inequality in Malaysia has been worsening, with the top 20% of households earning nearly 7 times more than the bottom 40%. The GINI coefficient also shows Malaysia has high inequality.
3) Projections of job creation under ETP show most new jobs will be low-paying, with over 8 million workers estimated to earn less than RM3,000 monthly even with wage
A digital copy of the Business News 24 (18 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (26 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
- The Zimbabwe Stock Exchange registered increases in turnover and volume traded in February, rising 38.4% and 54% respectively from the previous month. However, the market value maintained a downward trend.
- While activity increased on the stock market last month, the ZSE's market capitalization is already down 11.42% for the year. Market watchers forecast the market will recover only 15% this year.
- The change in fortunes on the stock market provides hope that stocks may offer moderate returns after large losses in recent years, though economic challenges remain.
A digital copy of the Business News 24 (25 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The Canadian government released its first budget under Prime Minister Paul Martin which includes significant future spending commitments. However, some members of Canada's business community are worried that the budget does not do enough to maintain the country's competitiveness in the global economy through tax incentives and other measures. While the budget was received positively by some groups, others such as the Canadian Manufacturers & Exporters Association believe the government's competitiveness agenda is not being implemented quickly enough. There is debate around whether the tax reductions and other measures in the budget will be sufficient to attract investment and keep Canada competitive internationally over the long term.
Econet Wireless is working to enhance its tap and go payment system to allow for electronic airtime vending by June, in preparation for an upcoming ban on airtime vouchers. The CEO of Econet said they are working on strategies like improving the tap and go system to ensure their 25,000 airtime vendors are not left stranded by the ban. They aim to have all vendors able to dispense electronic vouchers by June.
The document provides information about Wealth Today, a financial planning company based in Australia. It discusses Wealth Today's services and credentials, the current state of household finances and debt in Australia, and introduces the LIFT program which aims to help clients terminate their mortgages while building wealth and securing their financial future and retirement lifestyle. The document promotes the benefits of Wealth Today's holistic advice approach over traditional broker models that focus only on loans and debt.
Northcourt H1 2019 Nigerian Real Estate Market Review reportAyo Ibaru
The document provides a review of the Nigeria real estate market in the first half of 2019. Some key points covered include:
- The Access Bank and Diamond Bank merger created the largest bank in Africa by customer base.
- MTN Nigeria listed on the Nigerian Stock Exchange, becoming the second most capitalized firm.
- The National Housing Fund bill proposed new levies that experts believe would increase costs and discourage real estate investment.
- The signing of the African Continental Free Trade Agreement has the potential to boost trade and economic growth across the continent if countries can quickly industrialize and implement supporting infrastructure.
Stable results in times of change
Folksam and its subsidiaries ended 2015 with yet another strong quarter in respect of both non-life insurance and life insurance. At the same time, the period was characterised by preparations for 2016 onwards. I am very pleased that we finally are operating according to the new Solvency II regulations, an initiative that has required extensive effort. We still need to fine-tune the working methods, but essentially this change means that we are now a more modern financial company compared with the situation before the start of the year.
Although Folksam is still financially strong, we face a number of challenges. The uncertainty in the world economy and China places a question mark over things. We saw lately the stock market turbulence in early 2016 that began in China and quickly spread. And low interest rates are continuing to make their presence felt. Folksam, like all industry stakeholders, therefore have to be satisfied with lower levels of return compared with the last few years.
Sales in respect of both non-life insurance and life insurance are growing according to plan, but they are also driving costs. This is also true of our many development projects. This is why we are now focusing more extensively on ensuring that we can recover the effects of the various initiatives.
We have many things to look forward to in 2016. We are making major progress with regard to our digital presence, and we are launching a new folksam.se. The web is key to our strategy, which involves meeting customers in the places where they want to be met. We were also able to describe our partnership with TeliaSonera last autumn, which will make it possible to connect a newly developed WiFi solution into vehicles and help drivers to "Drive Safely". This will give our car insurance customers feedback on how safely they drive and allow us to reward them by means of discounts on their car insurance, for instance. This is a solution that has it all: it reduces the number of accidents and saves lives while also helping to benefit both customers and the environment. When we sum up 2015, customers will again share in our bonus interest programme. We will be issuing around SEK 545 million to around 2.5 million customers for the financial year.
We are now, with undiminished vigour, continuing our efforts to become the pension savings and insurance company for the many, with the best offers available in the industry. Our aim – to have the happiest customers in the industry – still stands.
Pleasingly, we are most definitely on the right path. And heading in the right direction.
Jens Henriksson
CEO and Group President
The Reserve Bank of Zimbabwe is spearheading the revival of an Economic Crimes Court to curb white-collar crimes like externalization of foreign currency and corruption in the financial sector. The RBZ governor said plugging economic leaks through such a court is needed given limited revenues from resources like diamonds. Reviving the court would allow faster handling of economic crimes cases involving minerals so assets can quickly be released to the state.
The document provides a business plan summary for a proposed medical services management company called The Medical Group (TMG). TMG aims to offer management services that allow doctors to access more revenue from government health programs like Medicare. Specifically, TMG will organize doctors into a management group to retain walk-in patients, double Medicare reimbursement for such patients, and obtain a Medicare contract. TMG expects to provide this access to managed care organizations while taking advantage of an underserved market of walk-in patients. The business plan outlines TMG's services, strategy, market analysis, competitors, and financial requirements to launch the new company.
This document summarizes several financial and employment topics relevant for UK businesses and individuals in October 2012. It discusses the beginning of auto-enrollment pension requirements for large employers, a small increase to the national minimum wage, plans for a new government-backed business bank, and upcoming changes to state pensions and child benefits that may prompt individuals to review their retirement plans.
- Financial performance in 2009 was sound across most of BancABC's operations, with the exception of BancABC Zambia. Profits increased significantly in Mozambique and Botswana.
- Total income increased 10% to BWP 392 million, however earnings declined to BWP 58 million due to a 54% increase in operating expenses, largely from costs associated with Zimbabwe dollarization and retail banking expansion.
- Impairment charges increased 15% to BWP 51 million primarily from BancABC Zambia where loan quality deteriorated. The balance sheet grew 11% to BWP 4.4 billion as customer deposits increased 19% to BWP 3.4 billion, positioning the bank for improved
ABC Holdings Limited is the parent company of banks operating in Sub-Saharan Africa, including Botswana, Mozambique, Tanzania, Zambia and Zimbabwe. The Group saw total income increase 26% to BWP1.374 billion for the year ended 31 December 2013 due to continued expansion into retail and SME banking. However, impairments on loans also increased substantially by 137% to BWP328 million. As a result, attributable profit increased 49% to BWP198 million. Key banking subsidiaries like BancABC Botswana and BancABC Zimbabwe saw double-digit growth in attributable profits, while BancABC Mozambique and BancABC Tanzania struggled with higher impairments.
A digital copy of the Business News 24 (07 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The document summarizes key points from the UK's 2012 Autumn Statement. It reports that:
1) GDP growth forecasts for 2012 and beyond have been downgraded, unemployment is expected to peak higher than previously predicted, and public debt will continue increasing until 2016/17 before declining.
2) The deficit is continuing to fall faster than expected, reaching 6.9% of GDP in 2012 compared to 11.2% in 2010, aided by higher than predicted private sector job growth.
3) Measures announced aim to strengthen the economy through investment, taxes and supporting business, including reducing the main corporation tax rate and increasing the Annual Investment Allowance.
A digital copy of the Business News 24 (25 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The April 2019 Africa Market Update covering the economies of Ghana, Nigeria, Kenya, Tanzania, Uganda and Rwanda is out. This issue comes against the backdrop of significant developments in West Africa with Ghana set to wind up the International Monetary Fund's Extended Credit Facility program this month and the Cedi having come under pressure in Q1 2019. Nigeria has also witnessed the first monetary policy adjustment in over two years with a surprise dovish signal. We look at what this means for the macroeconomic environment. This issue also includes our latest commentary with the Africa Report and DealMakers Africa.
This document provides a summary of pension disclosures from FTSE 100 companies as of March 31, 2015. Key findings include:
- The total pension deficit among FTSE 100 companies was estimated to be £89 billion as of March 31, 2015, a deterioration of £30 billion from the previous year.
- Only 54 FTSE 100 companies still provide defined benefit pensions to more than a small number of employees.
- Total deficit funding contributions were £6.5 billion last year, down from £7.3 billion the previous year.
- Underlying reduction in ongoing defined benefit pension provision is estimated to be around 15% in the last 12 months.
- Several companies significantly changed their pension asset allocations,
Minerva: Brand Identity and Marketing PlanningMilli Benfenati
Development of a web marketing strategy in order to provide Italian SME operating in the fashion business with creative ideas for penetrating Russian market
A digital copy of the Business News 24 (18 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (26 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
- The Zimbabwe Stock Exchange registered increases in turnover and volume traded in February, rising 38.4% and 54% respectively from the previous month. However, the market value maintained a downward trend.
- While activity increased on the stock market last month, the ZSE's market capitalization is already down 11.42% for the year. Market watchers forecast the market will recover only 15% this year.
- The change in fortunes on the stock market provides hope that stocks may offer moderate returns after large losses in recent years, though economic challenges remain.
A digital copy of the Business News 24 (25 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The Canadian government released its first budget under Prime Minister Paul Martin which includes significant future spending commitments. However, some members of Canada's business community are worried that the budget does not do enough to maintain the country's competitiveness in the global economy through tax incentives and other measures. While the budget was received positively by some groups, others such as the Canadian Manufacturers & Exporters Association believe the government's competitiveness agenda is not being implemented quickly enough. There is debate around whether the tax reductions and other measures in the budget will be sufficient to attract investment and keep Canada competitive internationally over the long term.
Econet Wireless is working to enhance its tap and go payment system to allow for electronic airtime vending by June, in preparation for an upcoming ban on airtime vouchers. The CEO of Econet said they are working on strategies like improving the tap and go system to ensure their 25,000 airtime vendors are not left stranded by the ban. They aim to have all vendors able to dispense electronic vouchers by June.
The document provides information about Wealth Today, a financial planning company based in Australia. It discusses Wealth Today's services and credentials, the current state of household finances and debt in Australia, and introduces the LIFT program which aims to help clients terminate their mortgages while building wealth and securing their financial future and retirement lifestyle. The document promotes the benefits of Wealth Today's holistic advice approach over traditional broker models that focus only on loans and debt.
Northcourt H1 2019 Nigerian Real Estate Market Review reportAyo Ibaru
The document provides a review of the Nigeria real estate market in the first half of 2019. Some key points covered include:
- The Access Bank and Diamond Bank merger created the largest bank in Africa by customer base.
- MTN Nigeria listed on the Nigerian Stock Exchange, becoming the second most capitalized firm.
- The National Housing Fund bill proposed new levies that experts believe would increase costs and discourage real estate investment.
- The signing of the African Continental Free Trade Agreement has the potential to boost trade and economic growth across the continent if countries can quickly industrialize and implement supporting infrastructure.
Stable results in times of change
Folksam and its subsidiaries ended 2015 with yet another strong quarter in respect of both non-life insurance and life insurance. At the same time, the period was characterised by preparations for 2016 onwards. I am very pleased that we finally are operating according to the new Solvency II regulations, an initiative that has required extensive effort. We still need to fine-tune the working methods, but essentially this change means that we are now a more modern financial company compared with the situation before the start of the year.
Although Folksam is still financially strong, we face a number of challenges. The uncertainty in the world economy and China places a question mark over things. We saw lately the stock market turbulence in early 2016 that began in China and quickly spread. And low interest rates are continuing to make their presence felt. Folksam, like all industry stakeholders, therefore have to be satisfied with lower levels of return compared with the last few years.
Sales in respect of both non-life insurance and life insurance are growing according to plan, but they are also driving costs. This is also true of our many development projects. This is why we are now focusing more extensively on ensuring that we can recover the effects of the various initiatives.
We have many things to look forward to in 2016. We are making major progress with regard to our digital presence, and we are launching a new folksam.se. The web is key to our strategy, which involves meeting customers in the places where they want to be met. We were also able to describe our partnership with TeliaSonera last autumn, which will make it possible to connect a newly developed WiFi solution into vehicles and help drivers to "Drive Safely". This will give our car insurance customers feedback on how safely they drive and allow us to reward them by means of discounts on their car insurance, for instance. This is a solution that has it all: it reduces the number of accidents and saves lives while also helping to benefit both customers and the environment. When we sum up 2015, customers will again share in our bonus interest programme. We will be issuing around SEK 545 million to around 2.5 million customers for the financial year.
We are now, with undiminished vigour, continuing our efforts to become the pension savings and insurance company for the many, with the best offers available in the industry. Our aim – to have the happiest customers in the industry – still stands.
Pleasingly, we are most definitely on the right path. And heading in the right direction.
Jens Henriksson
CEO and Group President
The Reserve Bank of Zimbabwe is spearheading the revival of an Economic Crimes Court to curb white-collar crimes like externalization of foreign currency and corruption in the financial sector. The RBZ governor said plugging economic leaks through such a court is needed given limited revenues from resources like diamonds. Reviving the court would allow faster handling of economic crimes cases involving minerals so assets can quickly be released to the state.
The document provides a business plan summary for a proposed medical services management company called The Medical Group (TMG). TMG aims to offer management services that allow doctors to access more revenue from government health programs like Medicare. Specifically, TMG will organize doctors into a management group to retain walk-in patients, double Medicare reimbursement for such patients, and obtain a Medicare contract. TMG expects to provide this access to managed care organizations while taking advantage of an underserved market of walk-in patients. The business plan outlines TMG's services, strategy, market analysis, competitors, and financial requirements to launch the new company.
This document summarizes several financial and employment topics relevant for UK businesses and individuals in October 2012. It discusses the beginning of auto-enrollment pension requirements for large employers, a small increase to the national minimum wage, plans for a new government-backed business bank, and upcoming changes to state pensions and child benefits that may prompt individuals to review their retirement plans.
- Financial performance in 2009 was sound across most of BancABC's operations, with the exception of BancABC Zambia. Profits increased significantly in Mozambique and Botswana.
- Total income increased 10% to BWP 392 million, however earnings declined to BWP 58 million due to a 54% increase in operating expenses, largely from costs associated with Zimbabwe dollarization and retail banking expansion.
- Impairment charges increased 15% to BWP 51 million primarily from BancABC Zambia where loan quality deteriorated. The balance sheet grew 11% to BWP 4.4 billion as customer deposits increased 19% to BWP 3.4 billion, positioning the bank for improved
ABC Holdings Limited is the parent company of banks operating in Sub-Saharan Africa, including Botswana, Mozambique, Tanzania, Zambia and Zimbabwe. The Group saw total income increase 26% to BWP1.374 billion for the year ended 31 December 2013 due to continued expansion into retail and SME banking. However, impairments on loans also increased substantially by 137% to BWP328 million. As a result, attributable profit increased 49% to BWP198 million. Key banking subsidiaries like BancABC Botswana and BancABC Zimbabwe saw double-digit growth in attributable profits, while BancABC Mozambique and BancABC Tanzania struggled with higher impairments.
A digital copy of the Business News 24 (07 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The document summarizes key points from the UK's 2012 Autumn Statement. It reports that:
1) GDP growth forecasts for 2012 and beyond have been downgraded, unemployment is expected to peak higher than previously predicted, and public debt will continue increasing until 2016/17 before declining.
2) The deficit is continuing to fall faster than expected, reaching 6.9% of GDP in 2012 compared to 11.2% in 2010, aided by higher than predicted private sector job growth.
3) Measures announced aim to strengthen the economy through investment, taxes and supporting business, including reducing the main corporation tax rate and increasing the Annual Investment Allowance.
A digital copy of the Business News 24 (25 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The April 2019 Africa Market Update covering the economies of Ghana, Nigeria, Kenya, Tanzania, Uganda and Rwanda is out. This issue comes against the backdrop of significant developments in West Africa with Ghana set to wind up the International Monetary Fund's Extended Credit Facility program this month and the Cedi having come under pressure in Q1 2019. Nigeria has also witnessed the first monetary policy adjustment in over two years with a surprise dovish signal. We look at what this means for the macroeconomic environment. This issue also includes our latest commentary with the Africa Report and DealMakers Africa.
This document provides a summary of pension disclosures from FTSE 100 companies as of March 31, 2015. Key findings include:
- The total pension deficit among FTSE 100 companies was estimated to be £89 billion as of March 31, 2015, a deterioration of £30 billion from the previous year.
- Only 54 FTSE 100 companies still provide defined benefit pensions to more than a small number of employees.
- Total deficit funding contributions were £6.5 billion last year, down from £7.3 billion the previous year.
- Underlying reduction in ongoing defined benefit pension provision is estimated to be around 15% in the last 12 months.
- Several companies significantly changed their pension asset allocations,
Minerva: Brand Identity and Marketing PlanningMilli Benfenati
Development of a web marketing strategy in order to provide Italian SME operating in the fashion business with creative ideas for penetrating Russian market
El documento describe un proyecto de investigación sobre las prácticas de comunicación, coordinación y colaboración de los jóvenes en medios digitales. El proyecto incluye tomar fotos del grupo de trabajo, crear un mapa mental de la red de aprendizaje usando Freemind, y diseñar una encuesta sobre el uso de redes sociales y correo electrónico.
Este documento describe los principales componentes de un ordenador como la carcasa, puertos, lectores y ventiladores. Explica los tipos de ordenadores como de sobremesa, torre, portátil y tableta. También detalla los conectores como ATX, SATA y molex, así como los dos principales fabricantes de microprocesadores (Intel y AMD) y sus gamas. Por último, habla sobre la refrigeración de los procesadores y características de discos duros, SSD y tarjetas de memoria.
O documento apresenta três especialistas para executar um projeto de métricas digitais, com funções específicas: o empreendedor, o analista de métricas e o técnico. Apresenta também as quatro etapas do método: planejar, preparar, analisar e agir. Fornece exemplos de situações típicas e soluções para cada etapa do processo.
Доклад Вадима, специалиста по контекстной рекламе digital-агенства TitanSoft, на ежегодной выставке "Interner Expo 2015"
Больше кейсов здесь: https://titansoft.ru/portfolio
Наш познавательный блог: http://blog.titansoft.ru/
Productivity Solutions Limited (PSL) is a consulting firm that provides solutions to improve productivity, efficiency, resource management, and cost reduction. PSL uses techniques like time study, process mapping, and statistical analysis to evaluate processes. They provide measurement tools, training programs, project management, and software solutions. PSL aims to deliver honest, balanced reports and sustainable improvements through experienced directors who manage all projects.
This document discusses evaluating the feasibility of cloud technology planning. It begins by stating that requirements gathering is the first step, which involves understanding the current problem or opportunity, the proposed investment, the company's current state, and where it needs to be. It then discusses identifying the business need, common business outcomes like revenue growth and cost reduction, and considering factors like security, availability and performance when refining requirements and evaluating solutions. Key success factors and constraints are also important to define for any new initiative.
Este documento describe el cambio climático, sus causas, evidencias y posibles consecuencias. Explica que la ONU creó el IPCC para estudiar el tema y concluyó que las actividades humanas son la principal causa del calentamiento global reciente. También analiza factores que afectan el clima como la composición atmosférica, corrientes oceánicas y orientación geográfica de las regiones.
El internet es un medio de comunicación que permite compartir información conectando diferentes dispositivos como computadoras. Requiere del uso de un computador y puede clasificarse según la audiencia (público, extranet o intranet), su estructura (abierta, cerrada o semicerrada) y dinamismo (interactivo o estático). A pesar de estar relacionados, el internet difiere de conceptos como páginas web y motores de búsqueda que son herramientas para acceder a su contenido.
This document discusses different forms and genres of factual programming and documentaries. It begins by describing common elements found in a newsroom, such as a professional presenter, desk, papers, and backdrop screen. It then lists different types of television shows like social, infotainment, reality, educational, wildlife, special interest, makeover, magazine, discussion, review, and chat shows. The document also examines documentary genres including investigative, ethnological, expository, observational, interactive, and docu-drama. It concludes by comparing the BBC News to the fictional TV show The Newsroom, noting their similar production processes but fictional nature of relationships on The Newsroom.
El documento explica la diferencia entre un medio didáctico y un recurso educativo. Un medio didáctico es cualquier material elaborado específicamente para facilitar el aprendizaje, mientras que un recurso educativo es cualquier material que se utilice con fines educativos aunque no haya sido diseñado para ello. También describe los componentes, funciones y evaluación de los medios didácticos.
El documento proporciona una introducción a la música, definiendo sus elementos fundamentales como la melodía, armonía, métrica y ritmo. Explica que existen 12 notas musicales y describe varios ritmos musicales populares de América Latina como el vallenato, joropo, merengue, cueca, salsa, reggaetón y champeta.
The document reports on the escalating public row between South Africa's Hawks police unit and Finance Minister Pravin Gordhan, as the Hawks threatened legal action against the minister, causing the South African rand currency to crash through 16 to the US dollar level. The fight between the Hawks and Gordhan erupted after the unit sent him questions about a "rogue" SARS tax agency unit just before the budget, and analysts are concerned that Gordhan's departure could damage the economy as it faces recession risks.
Hwange Colliery Company reported a substantial loss of $115 million for the 2015 fiscal year, much higher than the $37.8 million loss in the previous year. The large loss was mainly due to recognizing a $69.1 million liability to the Zimbabwe Revenue Authority (ZIMRA) covering the past six years. Administrative costs also increased substantially, in part due to adjusting for the ZIMRA liability. Going forward, the company expects a $7.5 million coal pre-financing facility to help implement a new business plan and increase monthly coal production targets.
The National Bakers Association of Zimbabwe (NBAZ) has lobbied the Ministry of Finance and Ministry of Industry and Commerce for better terms on the second phase of the Distressed Marginalized Areas Fund (DIMAF 2), specifically an interest rate lower than 10% and a loan term of at least 5 years. NBAZ president Mr. Givemore Mesoemvura said that many bakeries defaulted on loans from the initial DIMAF due to the high interest rates and short terms. He is requesting a 7% interest rate and 5 year term for bakeries accessing DIMAF 2 funds.
A digital copy of the BH24 (05 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (09 September edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (07 October edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the BH24 (12 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (31 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the BH24, Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the BH24 (04 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
Delta, a Zimbabwean beverages company, reported a 7% decline in revenue and a 12% decline in profit for the fiscal year ended March 31, 2016 compared to the previous year. Management attributed the lower performance to weak economic conditions in Zimbabwe that constrained consumer demand. Specifically, drought, cash shortages, delayed wages, and job cuts hurt demand for Delta's products. The company also faced increased competition from cheaper brands as consumers sought more affordable options. Delta's board declared a dividend but revenue, profit, and volume declined across the company's beer, sparkling beverages, and sorghum beer segments for the fiscal year.
A digital copy of the BH24 (08 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the BH24 (29 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
Rio Tinto named its top copper executive Jean-Sebastien Jacques as its new CEO, replacing Sam Walsh who led the company's iron ore expansion. Jacques oversaw negotiations to expand Rio Tinto's Oyu Tolgoi copper mine in Mongolia and will help the company boost copper production as demand is expected to increase. The appointment of Jacques signals Rio Tinto's increased focus on copper at a time when the mining industry is adjusting to China's economic shift away from heavy industry and commodities like iron ore.
A digital copy of the BH24 (3 February 2016 edition). Zimbabwe's premier online business platform published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (22 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
Zimpapers, Zimbabwe's largest media group, reported an after-tax profit of $2.7 million for the full year ending December 31, 2015, compared to a $11.4 million loss in the previous year. This turnaround was due to cost cutting measures that reduced administrative costs by $6.4 million and selling/distribution costs by $3.7 million. Revenue remained flat at $40 million. The newspaper and commercial printing divisions contributed to the improved performance.
Similar to Govt negotiating with Old Mutual to unlock $5,1m under Youth Fund (20)
Air Namibia is advertising new flight routes from Harare, Zimbabwe to Accra, Ghana and Lagos, Nigeria starting on June 29, 2018. Customers are encouraged to book flights soon to avoid disappointment as seats are selling out. Contact information is provided for booking individual flights or group fares by telephone, email, online, or through a travel agent.
In this edition, you will be enlightened on the cornerstone of international aviation which is the Bilateral Air Service Agreement, commonly referred to as BASA, Africa’s plan for a common airspace and taken on a tour of the Eastern Highlands and the new sky
Treasury directs ZINARA to disburse 70pc of funds for rehabilitationZimpapers Group (1980)
- The Zimbabwean equities market extended gains from the previous day, with the industrial index rising 1.32% to 95.28.
- Major stocks like Delta Beverages, Innscor, Econet, Colcom, CFI and Nampak saw share price increases, helping drive the overall market upward.
- Only Barclays and Old Mutual saw share price declines on the day.
- The mining index remained flat at 26.24 as several mining stocks stayed unchanged from their previous closing prices.
The article discusses the Zimbabwe Consolidated Diamond Company (ZCDC), which has been operating without a proper legal framework. The permanent secretary in the Ministry of Mines admitted that unlike other state entities, no act of parliament established the ZCDC. It was instead registered as a company under the Companies Act. There are also concerns about the improperly constituted board of the ZCDC and some controversial decisions that have been made. The parliamentary committee questioned the legitimacy of the board's actions in firing employees and replacing them.
The World Bank says Zimbabwe can use the Rapid Results Approach (RRA) to help expedite solutions to its current cash shortage problems. The RRA is a method used to accelerate organizational change through 100-day goal-setting. The government has completed two phases of an RRA program focused on improving ease of doing business. The World Bank country manager says Zimbabwe can transition more quickly to e-commerce by applying the RRA methodology to address cash shortages and encourage electronic payments. The article provides details on Zimbabwe's cash shortage challenges and measures already taken by the central bank to address the problem and incentivize electronic payments and exports.
Nigeria's central bank announced it will abandon its 16-month peg of the naira to the U.S. dollar and move to a "purely market-driven" system of foreign exchange trading starting next week. Economists estimate the naira's fair value under a float would be between 280 to 300 naira per dollar, compared to the current black market rate of around 370, and the change aims to ease severe dollar shortages caused by lower oil revenues. The central bank will still be able to inject dollars and influence the exchange rate within its foreign reserves, but will no longer target a specific
Nigeria's central bank announced it will abandon its 16-month peg of the naira to the U.S. dollar and move to a "purely market-driven" system of foreign exchange trading starting next week. Economists estimate the naira's fair value under a float is between 280 to 300 naira per dollar, compared to the current black market rate of around 370, and the change aims to ease severe dollar shortages caused by low oil prices. The central bank will still be able to inject dollars and influence the exchange rate within reserves, but no longer has an explicit target rate for the
The Credit Reference Bureau of Zimbabwe is set to be fully operational by July 31st, with a Czech firm having made significant progress in setting up the necessary soft infrastructure at a cost of $1.8 million to the Reserve Bank of Zimbabwe. The CRB will enhance borrower verification and help banks assess credit risk and reduce non-performing loans. A number of consultative meetings have been held with banks to define the necessary data to be collected and reports generated by the new system.
The National Railways of Zimbabwe (NRZ) requires $400 million in short-term funding for recapitalization. This funding will go toward acquiring new machinery and rehabilitating existing infrastructure to increase the railway's carrying capacity from the current 3.4 million tonnes to 7.6 million tonnes. The funding will also be used to procure 15 new locomotives and 1000 new wagons, as securing this funding would allow NRZ to improve services, increase revenues, and return to profitability.
SeedCo, a listed seed producer in Zimbabwe, reported a 3% increase in profit after tax for the fiscal year ending March 31, 2016 compared to the previous year, despite challenges from drought, low commodity prices, and reduced government programs. The company's turnover remained unchanged at $96 million year-over-year. SeedCo was able to increase efficiency and offer competitive pricing, which helped increase its gross margin by 7% during the period. The company plans to focus on growing its ultra-early maize seed varieties to meet increasing demand given changing weather patterns.
Zimbabwe's corporate governance weaknesses have contributed to its poor ratings in international surveys, according to an official. Improving corporate governance could significantly boost Zimbabwe's rankings. The official noted that past governance failures have resulted in the current negative perceptions, and that while some methodology reservations exist, the ratings still factor into potential investors' considerations. The government is working to enhance corporate governance in the public sector through various initiatives.
The Confederation of Zimbabwe Industries has urged the government to introduce Local Content Regulation for all sectors of the economy in order to boost local production. The regulation would give preference to local producers over imports for some goods and services. It would also require manufacturers to include a minimum percentage of local inputs in their production. A CZI economist said the regulation could increase competitiveness by promoting local products first and supporting local employment and procurement.
Isabel dos Santos, the billionaire daughter of Angola's President, has been appointed as the new CEO of state energy firm Sonangol and has pledged to overhaul the company to improve efficiency and margins amid low oil prices. She plans to split Sonangol into three units and increase transparency to international standards in order to generate more revenue for Angola, which relies heavily on oil exports. Dos Santos aims to offset the "huge" economic impact of depressed oil prices through the reforms at Sonangol.
The Zimbabwe Flight Crews Association said that the government is not adequately protecting Air Zimbabwe and is instead licensing competitors to service the same routes as Air Zimbabwe, hurting its ability to compete; they argue the national airline should have first right of refusal on routes. Captain Ottis Shonai stated that new airlines have been given licenses to fly the same routes as Air Zimbabwe, which does not happen elsewhere, and that Air Zimbabwe needs route protection from the government as other national airlines receive.
Government has released $500,000 in funding to support the hosting of this year's Sanganai/Hlanganani World Tourism Expo in Bulawayo after the Zimbabwe Tourism Authority faced financial challenges and was contemplating postponing or cancelling the event. The acting ZTA chief executive said the funds will ensure the expo is a success. Over 160 local tourism companies and 28 international exhibitors from countries like Botswana, South Africa and India have registered to participate. International buyers from Europe, Asia, Africa, the Americas and the Middle East are also expected to attend the expo from June 16-18, 2016.
Fastjet Zimbabwe recorded $0.3 million in revenue since commencing operations in October 2015, with an operating loss of $4 million, as the new airline began flights between Harare, Victoria Falls, and Johannesburg. The performance in the first few months of operations was described as "encouraging" by Fastjet, with 91% of flights arriving on time. However, the Zimbabwe operation was not included in Fastjet's key performance indicators for 2015 as it only became operational in October.
- The Beitbridge Hotel in Zimbabwe, owned 40% by the National Social Security Authority (NSSA), has incurred over $2 million in losses since opening in 2014 and has now been closed by majority owner Rainbow Tourism Group.
- An audit before construction found the hotel would be loss-making, but NSSA insisted it proceed anyway. NSSA's investments are under scrutiny as costs for the Beitbridge Hotel ballooned from an initial $3 million budget to over $49 million.
- The closure puts focus again on NSSA's investment strategies that have put pensioners' funds at risk through apparent non-viable projects like the Beitbridge Hotel.
Standard Chartered Bank plans to launch mobile and online banking platforms in 8 African countries including Zimbabwe in the first half of 2016. The bank aims to grow long-term retail banking revenues in Africa 3-4 times faster than regional economic growth. This strategy contrasts with European rivals retreating from Africa due to falling commodity prices and weak currencies. StanChart is expanding its physical presence as well by adding branches in Nigeria, as it seeks to protect and grow its market share on the continent.
Tongaat Hulett's sugar production in Zimbabwe declined 7.4% to 412,000 tonnes for the year ending March 31, 2016. Sales also declined, falling to 403,000 tonnes compared to 491,000 tonnes the previous year. The company reported its Zimbabwe division's financial performance was negatively impacted by lower sugar production and export underperformance. Looking ahead, Tongaat Hulett forecast sugar production could rise up to 12% to 1.15 million tonnes in the new financial year depending on rainfall.
Industry, Finance ministries working on Zimbabwe tariff order for EPA Zimpapers Group (1980)
The Zimbabwean government is working to establish the necessary legal framework to fully implement an Economic Partnership Agreement (EPA) signed with the European Union in 2009, which establishes a free trade area between the EU and Zimbabwe. The EPA grants duty-free access for trade between the EU and Zimbabwe, and Zimbabwe is expected to progressively liberalize 80% of imports from the EU by 2022. Government officials are working with the Ministry of Finance to gazette a Zimbabwe tariff order to pave the way for implementing the trade agreement.
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Govt negotiating with Old Mutual to unlock $5,1m under Youth Fund
1. By Funny Hudzerema
HARARE -The Ministry of Youth, Indig-
enisation and Economic Empowerment
is negotiating with Old Mutual and its
banking division CABS to unlock $5,1
million under the Youth Fund, which
had been withheld after borrowers
failed to refund initial loans.
In 2011 Government allocated $10
million towards the youth empower-
ment programme, which was accessed
through loans via CABS, but of that
money only $4,9 million was utilised..
Speaking at a National Economic
Empowerment Strategy conference
Youth, Indigenisation and Economic
Empowerment Minister Patrick Zhu-
wao said:
“Government allocated $10 million to
the youth fund and $4,9 million was
loaned and the remaining $5,1 million
was locked after the youth failed to pay
back the loans.
“As the Ministry of Youth, Indigeni-
sation and Economic Empowerment
we are negotiating with Old Mutual to
unlock the remaining $5,1 million so
that it can be to be accessed by the
youth to start their projects,” he said.
Of the $4,9 million loaned out, only
$1,7 million has been paid back, the
minister said.
He said the law will be applied to
defaulters of the initial tranche of loans.
“Government negotiated the loans
from the banks offering state secu-
rity as collateral to the youths and the
banks are demanding their money
from the Government, so this has
forced us to apply laws to the default-
ers starting next year,” he said.
“The financial institutions have
requested the ministry to allow them
to take the normal procedures towards
recovering their facilities and we have
allowed them to start next year,” he
said.
He added that those who have not
repaid the money must negotiate with
the banks and make commitments to
the banks on how they will pay back
the loans.
During the time the youth fund was
allocated to the youths, banks say the
levelofnon-performingloansincreased
to 97 percent.
Minister Zhuwao said those who are
not complying with the laws must
know that Government provided secu-
rity for them and their properties can
and will be attached.
In the 2016 National Budget Finance
Minister Patrick Chinamasa allocated
$2 million towards youth projects; this
means that at least $7,1 million can be
availed to the youth if the Youth Fund
is restored.
This will be in addition to the $10 mil-
lion Localised Empowerment Accelera-
tion Facility (LEAF) that was launched
last month.●
News Update as @ 1530 hours, Friday 04 December 2015
Feedback: bh24admin@zimpapers.co.zwEmail: bh24feedback@zimpapers.co.zw
Govt negotiating with Old Mutual to unlock $5,1m under Youth Fund
Minister Patrick Zhuwao
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4. BH24 Reporter
HARARE - Listed telecoms giant
Econet Wireless Zimbabwe says it
will get the bulk of a new loan facil-
ity that has been extended to parent
company Econet Global by the China
Development Bank and Chinese mul-
tinational telecommunications equip-
ment and systems company ZTE Cor-
poration.
Out of the $500 million loan facil-
ity that has been granted to Econet
Global, the local entity could get over
$300 million.
The telecoms firm has since said it
plans to extend business opera-
tions in the mobile financial services,
banking, insurance and e-commerce
sectors to cushion it against falling to
telecoms revenues.
Econet Zimbabwe has to date
invested in excess of $1,2 billion in
the country, and the new $300 million
investment, which the company said
"would help consolidate its market
position and also introduce new ser-
vices" will take the firm's total invest-
ment to over $1,5 billion.
Said Econet Zimbabwe CEO Mr Doug-
las Mboweni:
"With this facility we will take our
investment to well over $1,5 billion.
This shows our commitment to the
country."
He added that the deal had been
negotiated at group level because
that is where the expertise lies to
raise such significant amounts of
money.
Business has not all been rosy for
Zimbabwe's largest mobile phone
operator by subscribers, with the
firm reporting a 52 percent decline in
after-tax-profit to $23 million for the
six months to August 31, 2015.
The depressed performance was
on the back of waning aggregate
demand as well as the consequences
of voice tariff cut by the Postal and
Telecommunication Regulatory
Authority of Zimbabwe (POTRAZ),
as well as taxes on airtime sales and
mobile handsets.
The tough times have also been
reflected in a raft of cost-cutting
measures that the company has
implemented during the course of the
year.
But the latest loan facility should help
Econet maintain its market domi-
nance, with a current market share
of over 60 percent.●
4 news
Mr Douglas Mboweni
Econet Zim to expand on $300m loan facility
7. BH24 Reporter
HARARE -Listed seed producer
SeedCo narrowed its loss after tax to
$5,5 million in the six months to Sep-
tember 30, 2015 from $7,6 million in
the prior comparable period.
This was on the back of a rise in vol-
umes, reduced finance charges and
exchange rate gains, said the group,
which has operations in Botswana,
Kenya, Malawi, Tanzania and Zambia.
Revenue for the period amounted to
$18,7 million up from $16 million, with
at least 9 percent of the revenue com-
ing from the newly acquired division,
Prime Seeds.
Cost of sales jumped 33 percent to
$10,5 million, which management
attributed to higher insurance and
depreciation charges.
And operating expenses rose 25,8 per-
cent to $15,7 million due to the addi-
tion of Prime Seeds.
Finance income increased to $877 844
from $68 398 while finance costs came
down to $1,2 million from $2 million
in the prior year, a development that
resulted in loss before tax falling to
$5,3 million from $6,2 million last year.
During the period under review, cur-
rent bank borrowings nearly doubled
from $11,7 million to $20,6 million
while operating costs increased by 25
percent to $15,6 million. Going for-
ward, the group says it expects incre-
mental positive outturn.
"Positive prospects in the medium to
long-term are expected to come from:
quicker product release due to the
strategic technical equity partnership
with Limagrain; the acquisition of Zim-
babwe's leading vegetable seed distri-
bution company and leveraging on the
expertise of LImagrain in this new line
of business in all our markets, increas-
ing market share in East Africa with
Kenya, Tanzania and DRC all continu-
ing on an impressive growth projectile;
new proprietary product releases in the
West African market which are show-
ing promise....," said the company in a
statement accompanying the results.
The board did not declare a dividend
for the half-year, in line with group pol-
icy.●
7 news
SeedCo posts improved H1 results
9. HARARE -Despite a bump in
Friday's trades, the general
downward trend this week
meant that the mainstream
industrial index lost 3.22 (or
2,74 percent) from the prior
week.
The market today registered a
0.34 gain to settle at 114.42
lifted by the two counters that
traded in positive territory.
Beverages giant Delta rose
$0,0154 to trade at $0,7155
while clothing retailer Edgars
was up $0,0020 to close at
$0,0700.
The majority of stocks however
traded in the red, with con-
glomerate TSL lost $0,0100 to
$0,1500 and giant insurer Old
Mutual slid $0,0075 to close at
$2,1025.
Also experiencing a down-
turn was Innscor, which went
down by $0,0050 to trade at
$0,2850, and Nampak which
lost $0,0038 to $0,0155 while
SeedCo was $0,0025 weaker
at $0,8625 after the seed pro-
ducer narrowed its loss after
tax $5,5 million in the six
months to September 30, 2015
from $7,6 million in the prior
comparable period.
The mining index retreated
0.39 to close at 21.51 as Bind-
ura Nickel Corporation lost a
marginal $0,0005 to trade at
$0,0125.
Hwange, Falgold and RioZim
however maintained previ-
ous price levels at $0,0300,
$0,0050 and 0,1040, respec-
tively.
On a week-on-week basis, the
mining index was down 0.82
(or 3,67 percent) compared to
last week - BH24 Reporter ●
ZSE9
Equities markets drops 2,74pc in week
12. 12 DIARY OF EVENTS
The black arrow indicate level of load shedding across the country.
POWER GENERATION STATS
Gen Station
04 December 15
Energy
(Megawatts)
Hwange 347 MW
Kariba 468 MW
Harare 30 MW
Munyati 16 MW
Bulawayo 22 MW
Imports 0 MW
Total 852 MW
•09 December 2015 - Cottco AGM; Venue: Cotton Pavilion, Exhibition Park; Time; 12:00hrs
•09 December 2015 - Border Timbers AGM; Venue: Boardroom, Northern Tobacco (Private)
Limited Complex, 4-12 Paisley Road, Southerton; Time: 9:00hrs
•11 December 2015 - Buy Zimbabwe Awards; Venue: Rainbow Towers, Harare
THE BH24 DIARY
13. Johannesburg -Nigerian authori-
ties have reduced a fine on South
Africa's MTN Group by 25 percent
to $3.9 billion, MTN said on Friday,
going back on a decision to slash
the fine by more than a third.
MTN was handed a $5.2 billion
penalty in October for failing to
disconnect users with unregistered
SIM cards, prompting five weeks of
pleas from Africa's biggest mobile
phone company that led to the fine
being cut by 35 percent to 3.4 bil-
lion on Thursday.
But a day later, MTN issued a state-
ment saying the Nigerian Commu-
nications Commission (NCC) had
sent it a second letter in which
it said the fine had actually been
reduced by 25 percent to 780 bil-
lion naira ($3.92 billion) and not by
35 percent to 674 billion naira.
"Neither the first letter nor the
second letter sets out any details
on how the reduction was deter-
mined," MTN said, adding that
its chairman, Phuthuma Nhleko,
would immediately hold talks
with Nigerian authorities before
responding.
Nigeria has been pushing telecoms
firms to verify the identity of sub-
scribers amid worries unregistered
SIM cards were being used for
criminal activity in a country facing
the insurgency of militant Islamist
group Boko Haram.
The fine came months after
Muhammadu Buhari swept to
power in Africa's biggest econ-
omy, after a campaign in which he
promised tougher regulation and a
fight against corruption.
MTN said the NCC has given it until
the end of the year to pay the fine.
- Reuters●
regioNAL News13
Nigeria backpedals on MTN fine, cuts penalty by 25 pct $3,9bn
15. Johannesburg -South Africa's rand
was slightly on the backfoot against the
dollar on Friday and was likely to stay
under pressure ahead of sovereign
credit rating reviews from Fitch and
Standard & Poor's.
Government bonds were also quoted
weaker, with the yield for the bench-
mark instrument maturing in 2026 ris-
ing 6 basis points to 8.695 percent, its
highest since February 2014, according
to Thomson Reuters data.
By 0610 GMT the rand was at 14.3850
against the greenback, 0.14 percent
off Thursday's close of 14.3645 in New
York.
The rand hit an all-time low of 14.4950
earlier in the week after official data
showedtradedeficitwidenedsharplyin
October, underlining sluggish growth in
Africa's second largest and most indus-
trialised economy.
Traders and analysts expected fur-
ther losses on Friday should negative
reviews be forthcoming from Fitch,
which rates South Africa at "BBB" with
a negative outlook and Standard &
Poor's, which has it at "BBB-" with a
stable outlook.
Investors were also eyeing U.S. jobs
numbers which could strengthen the
case for interest rate hike in the world's
biggest economy in December, whit-
tling the appeal of high-yielding but
riskier emerging-market assets.
"It's like Guy Fawkes Day for local mar-
kets," said Rand Merchant Bank's cur-
rency analyst John Cairns.
"Risk is massive, with U.S. non-farm
payrolls this afternoon and rating
actions this evening, while global vola-
tility and risk-off are elevated."
- Reuters●
regioNAL News15
Rand, bonds weaker ahead of rating reviews
16. Automotive demand for platinum is
expected to reach 3.315 million oz
next year for an increase of 2 per-
cent over 2015, according to the
World Platinum Investment Council
(WPIC).
Meanwhile, jewellery sales, industrial
end uses and investment demand
are expected to deliver ‘modest’
growth in 2016.
Total mining supply is thought likely
to achieve year-on-year growth of 4
percent in 2016, with global refined
supply increasing 2 percent year on
year to 5.965 million oz.
‘The outlook is for the market to
move to balance in 2016,’ WPIC
states.
The organisation reports that the
third quarter of 2015 was ‘domi-
nated by the Volkswagen emissions
revelations’. And yet it adds: ‘While
many commentators postulated that
the scandal would inevitably mean a
reduction in platinum demand, cor-
responding to fewer diesel cars, we
do not agree. We believe the con-
sequences could include automaker,
regulator and consumer actions that
are as likely to lead to increases in
automotive uses of platinum in the
coming months and years.’
Automotive demand was up 6 per-
cent year on year in the third quarter
of 2015, primarily due to increased
platinum usage in light and heavy-
duty autocatalysts, research by SFA
Oxford reveals. It also reports that
an estimated platinum deficit of 320
000 oz in the same quarter followed
a 20 000 oz shortfall in the preceding
three months. This presents a ‘stark
contrast’ to the 240 000 oz surplus in
the third quarter of 2014.
Total platinum supply in 2015 is
expected to grow by 6 percent to
7.73 million oz, with recovery from
the 2014 strikes in South Africa
more than offsetting a 7 percent
decline in recycled platinum owing to
lower jewellery demand in China and
weaker platinum group metal prices.
Overall demand, meanwhile, is
forecast to expand slightly to 8.03
million oz as ‘stronger’ automotive,
industrial and investment demand
more than offsets a drop in jewel-
lery offtake. - Recycling Interna-
tional●
internatioNAL News16
Platinum market expected to be balanced in 2016
17. Twelve investment agreements
have been signed by China and
Zimbabwe during the State Visit
of the Chinese President Xi Jin-
ping.
President Xi and his host, Presi-
dent Robert Mugabe, witnessed
the signing by different ministers
of the agreements worth $4 bil-
lion covering aviation, energy, tel-
ecommunications, infrastructure,
and private sector ventures.
The agreements include financ-
ing for expansion of the Hwange
Power Station and a national fibre
optic broadband project, construc-
tion of a new Parliament building
and a pharmaceutical warehouse,
and provision of wildlife monitor-
ing equipment.
During the first half of next year,
the China Eximbank will begin
extending loans to Zimbabwe
of more than $1.1 billion for
the expansion of Hwange Power
Station and TelOne’s fibre optic
broadband project.
Sino-Hydro was contracted to
undertake the Hwange project
that will add 600 Megawatts of
power to the national grid, which
is struggling due to low water lev-
els at Kariba hydropower station
and recurrent faults at Hwange.
The agreements include a grant
of $65 million dollars for the con-
struction of a new Parliament
building and a pharmaceutical
warehouse.
Two of the agreements are private
sector driven. One was signed by
International Business of China
and China Africa Sunlight Energy
on the development of coal and
methane gas mines and a thermal
power station at Gwayi. The other
was signed by AVM Africa and Bei-
jing Automobile Assembly.
The agreements will add momen-
tum to the implementation of
Zimbabwe’s development plan,
the Zimbabwe Agenda for Sus-
tainable Socio-Economic Transfor-
mation (Zim-Asset).
Other general agreements
included one on economic and
technical cooperation between
17 analysis17 analysis
China-Zimbabwe cooperation reaches new high
18. 18 analysis18 analysis
Zimbabwe and China signed by
the ministers of commerce of the
two countries.
Another framework agreement on
enhancement of investment was
signed by the Minister in the Pres-
ident’s Office for Policy Coordina-
tion and Promotion of Socio-Eco-
nomic Ventures with China’s top
planning agency, the National
Development and Reform Com-
mission (NDRC).
China, as the largest developing
country, and Africa, the continent
with the most developing coun-
tries, are increasingly influen-
tial in global affairs and actively
strengthening cooperation.
A recent symposium in Harare on
China-Africa relations addressed
how this “new type of strategic
partnership” can benefit local
development while contributing
to redefining global governance
structures.
President Xi arrived in Zimbabwe
on Tuesday leading a delegation
of more than 200 people includ-
ing senior government and party
officials.
President Mugabe told journalists
that relations between Zimbabwe
and China have reached a new
high following the state visit.
“Although their stay was brief,
but the essence of the visit was
phenomenal and shall always be
remembered by us in Zimbabwe.
The Chinese and Zimbabweans
are excellent friends, friends
not just today, friends that have
established their friendship back
and our future will always be
on the path of that. We are all-
weather friends.”
President Xi thanked Zimbabwe-
ans for the warm reception, say-
ing, “I am satisfied by this visit.”
He said the consolidation of rela-
tions with Zimbabwe and other
African nations remains a corner-
stone of Chinese foreign policy,
adding that he values the impor-
tant contribution by Zimbabwe to
the solidarity and development of
Africa during the past year when
President Mugabe has held the
African Union chair.
“In conducting China’s relations
with Africa, we adhere to the
principles of sincerity, practical
results, affinity and good faith,
and uphold the values of friend-
ship, justice and shared interests.
He said the two leaders would
meet again at the Forum on Chi-
na-Africa Cooperation (FOCAC)
Summit that takes place in Johan-
nesburg, South Africa on 4-5
December.
“We are going to meet again at
the China-Africa Summit in South
Africa and I hope it will be another
resounding success.”
The FOCAC Summit at the Sand-
ton Convention Centre has the
theme “China-Africa Progressing
Together: Win-Win Cooperation
for Common Development”.
FOCAC is an increasingly influ-
ential platform that has played
in important role in enhancing
collective dialogue and practical
cooperation since it was estab-
lished at the turn of millennium
15 years ago.
In a statement on China’s Africa
Policy presented last year at the
African Union headquarters in
Ethiopia, the Premier of the State
Council of China, Li Keqiang,
pledged to promote major pro-
jects in six areas of cooperation
– industrial, financial, poverty
reduction, ecological and environ-
mental protection, cultural and
people-to-people exchanges, and
enhancing peace and security.
These are likely to be key areas
of focus for the FOCAC discussion
and subsequent Plan of Action for
the next three years 2016-2018.
The Action Plan is expected to
have a significant regional dimen-
sion for the first time, in support-
ing the regional structures that
build African unity.
The African and Chinese leaders
are planning to issue a Johannes-
burg Declaration of FOCAC.
The 2nd FOCAC Summit which
takes place on 4-5 December fol-
lowing the 6th ministerial meet-
ing will continue to improve this
mechanism for cooperation,
enrich its content and make the
platform more practical and effi-
cient. - Sardc.net●