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About US$113 million was allotted to 2 579 businesses in May with US$94.5 million going to 682 large firms and US$18.5 million to 1 897 small and medium enterprises. Total forex paid out in May amounted to US$641 million with US$517 million coming from foreign currency accounts and only US$10.3 million from the interbank market.
MAJOR manufacturers and suppliers of key and popular brands in Zimbabwe are now demanding payment exclusively in US dollars for at least 22 commodities, industry players say. This sets the stage for potential and immediate forced dollarisation in an economy where the vast majority of formerly employed workers earn a rapidly depreciating local currency. Secretary…
THE Competition and Tariff Commission (CTC) has said Government must incentivise oil expressers to venture into contract farming of sunflower
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The Reserve Bank of Zimbabwe yesterday released the list of 2 036 companies that received US$1.6 billion under the country’s foreign currency auction system this year. The largest beneficiaries were Varun Beverages, Blue Ribbon Foods, United Refineries, Dairibord Zimbabwe, Cangrow Trading, Willowton Group, Treger Products, Olivine Industries, Surface Wilmar and Sable Chemical industries. The top...