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Econet buys lithium-ion batteries from Tesla

By Farai Matiashe Zimbabwe’s biggest telecommunications company, Econet Wireless, has turned to lithium-ion batteries to power its base stations in the wake of incessant power shortages currently rocking the country. The power utility company, Zesa Holdings, early this year, introduced 18-hour-long loadshedding schedules to contain the situation, as its electricity generation plummeted due to low water levels in Lake Kariba, the country’s largest source of power, whose water levels have been depleted by an El Nino-induced drought. Zesa Holdings, which relies on power imports from neighbouring countries, as of July this year owed South Africa’s Eskom $23 million in unpaid bills and at the moment Eskom is providing 400 megawatts to Zimbabwe, which is not enough to restore the situation to no...

High excise duty threatens Afdis

BY MISHMA CHAKANYUKA WINES and spirits maker African Distillers Limited (Afdis) expects product affordability challenges going forward owing to an upsurge in excise duty charged on its goods. Excise duty is a tax designed to discourage the purchase of particular goods. If you import goods from abroad, you might need to pay a few different types of taxes or duties. In 2010, government introduced specific excise duty rates based on the level of absolute alcohol content in order to equal the playing field between imported and locally-produced products. “Post year-end, the government changed duty structures, effectively doubling excise duty on company products. Affordability is likely to be a challenge going forward,” company chairman Pearson Gowero said in a statement accompanying Afdis’ fina...

Samaita honours Leonard Dembo

Mutare-based sungura artiste Brian Samaita said he is happy with the response to his latest album titled “Ndafunga Dembo”. The post Samaita honours Leonard Dembo appeared first on Nehanda Radio. NehandaRadio

Xtra Large heads for split

Urban Grooves outfit Xtra Large could be headed for an acrimonious separation after one member of the duo announced a split that shocked his partner. The post Xtra Large heads for split appeared first on Nehanda Radio. NehandaRadio

Falcon Gold records $27m loss

BY MTHANDAZO NYONI MINING giant Falcon Gold’s woes continue to mount after its total comprehensive loss for the six months to March 31, 2019 skyrocketed by 1 519% to $27 million. According to its unaudited interim consolidated results of operations for the six months ended March 31, 2019, Falgold’s losses amounted to $27 million against $1,7 million reported in the same period last year. It recorded a net working capital deficit of $11 million, up 68% in the comparable period and negative equity of $44 million. “The group continues to incur losses. The increase in total comprehensive loss is mainly due to foreign exchange losses amounting to $23 917 228,” the group’s chairperson, Ian Saunders said. The group produced 1 849 ounces of gold in the period under review, with an average sale pri...

Experts, govt deliberate on smart cities

BY Thomas Mupfuka THE Zimbabwe Institute of Geometrics (ZIG) will next week hold a conference expected to bring together experts to deliberate on Sustainable Development Goal 11, which seeks to promote smart cities. Delegates will be drawn from financial houses, research houses, tertiary institutions, government departments and private sector players. ZIG president Wilson Mhuri said the indaba was expected to come up with solutions that will help deal with waste management issues, corruption, and provision of services by the country’s local authorities. “We intend to bring together various professionals from all over the world, especially those working around the built environment in cities to discuss and/or share solutions on various challenges in our cities. This will be a chance to put ...

YouTube ‘creators’ fret over impact of new child protection rules

Samuel Rader quit his job three years ago to work full time on his YouTube channel, “Sam and Nia,” featuring videos of his family life. The channel created by the Texas-based couple — with videos of their Hawaii vacation, setting up their backyard pool and other content about “Christian family life” — has become one of the stars of the Google-owned video service with some 2.5 million subscribers. But the future is now uncertain for “Sam and Nia” and other YouTube “creators” as a result of a settlement with US regulators that will make it harder to get ad revenues from videos and channels directed at children. The post YouTube ‘creators’ fret over impact of new child protection rules appeared first on Nehanda Radio. Neh...

Sanganai/Hlanganani Expo opens on high note

BY NKULULEKO SIBANDA / WINSTONE ANTONIO THE 2019 edition of the Sanganai/Hlanganani World Tourism expo kicked off in Bulawayo yesterday with players in the sector describing it as much better than previous editions. Tourism Business Council of Zimbabwe (TBCZ) president Paul Matamisa told journalists that this year’s event was an improved affair, commending the organisers, the Zimbabwe Tourism Authority (ZTA) for putting together a successful exhibition. “We are happy that the expo has started and we are very much gratified that we are finally here for this year’s fair,” Matamisa said. “We are here to witness a much improved fair than all those that have been held in the past. We are particularly happy because we appreciate that a lot of energy has been put towards what we are going to be w...

Power cuts choke Cafca cables demand

BY MISHMA CHAKANYUKA ZIMBABWE Stock Exchange-listed cable manufacturer, Cafca Limited says future cable demand is unpredictable owing to the impact of prolonged power cuts in the country. Zimbabwe has been facing acute power shortages lasting 18 hours a day as the power utility company, Zesa Holdings, cited several challenges, which include foreign currency shortages, breakdown of equipment, unpaid debt and severe reduction of water levels at Lake Kariba. Last month, Zesa increased electricity charges from 9,86 cents (US1 cent) per kilowatt hour (kWh) to 27 cents/kWh (3 US cents), in a bid to cover the power shortage gap. “The impact of the chronic power shortage in the country makes it difficult to predict future demand for cable,” Cafca secretary Caroline Kangara said in the group’s trad...

No stroll in the park for new MPC, RBZ boards

No stroll in the park for new MPC, RBZ boards BY FIDELITY MHLANGA The new Monetary Policy Committee (MPC) and Reserve Bank of Zimbabwe (RBZ) boards face a daunting task in dealing with the country’s monetary problems and bring the much-needed stability and confidence in the market. These problems range from the cash crisis, banks’ liquidity crunch and land bankability. On Tuesday, Finance minister Mthuli Ncube appointed RBZ and MPC boards chaired by central bank governor John Mangudya to have oversight over monetary matters. Other members of the RBZ board are Kumbirai Katsande, Zvinechimwe Churu, Busisa Moyo, Matilda Dzumbunu, Edwin Manikai, Lindiwe Sibanda, Emma Fundira, Caleb Fundanga, Belinda Musakwa and Jerry Parwada. Economist Kipson Gundani said the appointments were in line with the...

Idols star Thami Shobede dies

Singer and Idols SA runner-up Thami Shobede has died at age 31, his record label Gallo Record Company confirmed. Shobede died at Kalafong Hospital in Pretoria yesterday morning. The post Idols star Thami Shobede dies appeared first on Nehanda Radio. NehandaRadio

Jah Prayzah resumes local shows

AFTER starving local fans of shows, musician Jah Prayzah, who is fresh from a One Africa Music Festival performance in New York, has scheduled a series of shows across the country with Zvishavane and Kwekwe lined up for this weekend. The post Jah Prayzah resumes local shows appeared first on Nehanda Radio. NehandaRadio