Solar energy producers in Zimbabwe granted tax relief for five years

ZIMBABWE – As part of its policy to encourage investment in solar energy, the Zimbabwean government plans to exempt investors from paying taxes for a period of 5 years in addition to the exemption of import duties on solar power equipment into Zimbabwe. The Zimbabwean government wants to take its strategy of attracting investment from solar energy producers in the country a step further. The country’s Minister of Energy said the government was looking into the possibility of exempting solar energy investors from taxes for a period of five years.…

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Agri-tech startup Farmhut wins US$100,000 grant funding from Hult Prize

ZIMBABWE – Zimbabwean agri-tech startup Farmhut, has secured US$100,000 in grant funding after being selected as one of the winners of the annual Hult Prize competition. Farmhut is an AI-powered marketplace connecting farmers to markets that pay fair prices for  their produce and enables farmers to grow their business fast throughout the year, and ensures  consumers get fresh, local, and sustainably-grown food from small producers in their local area.  The company has been selected as one of 11 winners of this year’s Hult Prize, an annual, year-long competition that crowd-sources ideas from…

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Zimbabwe’s Gweru Airport, PLM Middle East sign US$176m development deal

ZIMBABWE – Zimbabwe’s Gweru Airport and PLM Middle East, a retail specialist agency, have announced a strategic partnership for airport development with a US$176 million investment plan at the 2021 Arab Aviation Summit (AAS), the region’s leading aviation and tourism industry event held at Al Hamra International Exhibition & Conference Centre in Ras Al Khaimah. The eighth edition of the summit bought together experts to discuss the impact of the pandemic on the industry, the aftermath, and the road to recovery for a stronger future, under the theme, ‘Arab Aviation…

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China’s Tsingshan Group to build iron ore mine and steel plant in Zimbabwe

ZIMBABWE – China’s Tsingshan Holding Group is set to start developing an iron ore mine and a carbon steel plant in Zimbabwe from May 2021, the Southern African country’s information minister has revealed, three years after the firm first announced the investment deal. Tsingshan signed a US$1 billion outline agreement with Zimbabwe in June 2018 to build a two-million-tonne-a-year steel plant and has been carrying out exploration and seeking more mineral concessions. The Chinese company, through its Zimbabwean subsidiary Afrochine, already produces ferrochrome, which will also be used in the…

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Afreximbank approves US$70m to finance Beitbridge expansion in Zimbabwe

ZIMBABWE – Pan-African multilateral trade finance institution African Export-Import Bank (Afreximbank) has approved US$70 million to finance the expansion and upgrade of the Beitbridge border post in Zimbabwe to boost intra-Africa trade. The Beitbridge border post between Zimbabwe and South Africa is the busiest border crossing in Southern Africa, with an average of 25,000 people and 500 trucks crossing the border every day. The border post’s upgrade will significantly reduce waiting periods that have hampered and slowed trade across Southern Africa, causing haulage operators to use longer, less efficient alternative…

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Cellular network operator NetOne picks Huawei to upgrade its network

ZIMBAMBWE – NetOne, Zimbabwe’s first cellular network operator and mobile branch of Zimbabwean incumbent telecom operator TelOne, has picked Chinese technology company Huawei to carry out the modernization of its telecom network. The operation, which is part of the strategic cooperation between the two countries, is financed up to US$400,000 by China. This is phase 2 of NetOne’s network modernization operation, which aims to improve broadband access throughout the Southern African nation. ‘The successful implementation of this project will drive the development of related industries, improve Zimbabwe’s digitalization and modernization, and…

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Satellite operator Eutelsat, TelOne partner to roll out broadband connectivity in Zimbabwe

ZIMBABWE – Eutelsat Communications, a European satellite operator and TelOne (Pvt) Limited, one of Zimbabwe’s Internet Service Providers, have signed a master service agreement to bring high quality satellite broadband to Zimbabwe. Under the terms of the multi-year agreement with Eutelsat’s broadband division, Konnect Africa, beginning in March 2021, TelOne (Pvt) Limited will leverage the operational flexibility and power of the Eutelsat Konnect satellite to bring connectivity to households and businesses located in remote and rural locations across Zimbabwe. Eutelsat Konnect is a new-generation, High Throughput Satellite offering unprecedented operational…

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Investment fund Jua Kickstarter doubles its size to US$2m

ZIMBABWE – The Jua Kickstarter Fund, founded by Zimbabwean businessman Adam Molai to provide African entrepreneurs with capital to kickstart or expand their enterprises, has doubled to US$2 million in size In December last year, the industrialist Adam Molai had launched the US$1 million Jua Kickstarter Fund to provide successful applicants with funds to launch or grow their businesses, as well as mentoring and guidance. Molai, who has successfully started several enterprises across Africa and whose TRT Investments had US$125 million of assets under management as of the end of 2019, says a desire…

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Emirates increases flights to Harare and Lusaka

ZIMBABWE – United Arab Emirates largest airline and flag carrier Emirates says it is increasing flights between Zimbabwe, Zambia and Dubai beginning next month as efforts to increase connectivity bringing the number of flights to four times a week. “Emirates will increase its flights between Harare Lusaka and Dubai to four times a week from February 6 and the expanded schedule of services will offer better connectivity for customers in Zimbabwe and Zambia to Emirates’ growing destination network via Dubai of more than 100 destinations,” said Emirates in a statement.…

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Econet Wireless subsidiary DPA to install electric car charging stations in Zimbabwe

ZIMBABWE – Econet Wireless group subsidiary Distributed Power Africa (DPA), will build charging stations for electric cars in Zimbabwe, a new business for DPA which mainly supplies solar energy to industrial and commercial customers. The aim of the project is to encourage Zimbabweans to adopt less polluting electric cars and the company thus supports the Zimbabwean government’s policy in favour of electric mobility.  According to DPA, its DC stations have the capacity to charge the Vaya Nissan Leaf (24 kWh battery) to 80% in less than 30 minutes. The company…

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