zimbabwe targets 2,5 million tourist arrivals
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By Funny Hudzerema
HARARE - The Ministry of Tour-ism and Hospitality Indus-try is targeting 2, 5 million tourist arrivals by year end. This it said will be achieved through the implementation of a number of projects aimed at encouraging tourists to visit Zimbabwe.
Minister of Tourism and Hos-pitality Industry Engineer Walter Mzembi said the target will be achieved if the whole country works together to advertise Zimbabwe as the best tourist destination in Africa.
We are hoping that we can cross the 2, 5 million mark in terms of arrivals and progress
within the context of the $5 bill ion economic paper to $1, 5 million in terms of revenue.
This will be spearheaded by the National Tourism Master Plan which will be assisting in measuring and monitor-
ing ways which promote the inflows of tourists, he said.
During the first quarter of
News Update as @ 1530 hours, Tuesday 12 January 2016Feedback: firstname.lastname@example.orgEmail: email@example.com
Zimbabwe targets 2,5 million tourist arrivals
2015 a total of 390 000 tour-ists visited Zimbabwe.
The refurbishment of the Victoria Falls airport will also assist in increasing the num-ber of arrivals in the country.
By 2017 we will be around 3 million arrivals if we work hard as we are doing now tagging Victoria Falls into consideration thus why we build it to lend arrivals and to see them out so it will be a game charger, he said.
He added that his Ministry of tourism is discussing with the Reserve Bank of Zimbabwe to accept the rand in the tour-
ism sector by scratching the 15 percent value added tax for foreign accommodation since the number of tour-ists from Namibia and South
Africa were decreasing.
Currently the ministry of tourism is implementing a number of projects which include the construction of
Tourism Special Economic Zones and the implementa-tion of Tourism Master Plan aimed at increasing tourist arrivals in the country..
By Tawanda Musarurwa
HARARE - Mining conglomerate Caledonia Mining Corporation has granted long term incentives to its directors Messrs Steve Curtis, Mark Learmonth, Caxton Mangezi and Dana Roets, through a Omnibus Equity Incentive Plan.
The Omnibus Equity Incentive Plan was approved by the company's shareholders in May last year.
Mr Curtis is Caledonias president, chief executive and director, while Mr Learmonth is chief financial officer and vice president, Mr Roets is the chief operating officer and Mr Mangezi is general manager and director of Blanket Mine.
According to the group, the Long Term Incentive Plan (LTIP) awards are made in the form of Restricted Share Units (RSU's) and Perfor-mance Share Units (PSU's), which will be settled in cash, reflecting the prevailing Caledonia share price at the maturity of the award.
The company said no shares will be issued as a result of the LTIP
"The awards are intended to create a high degree of alignment between the remuneration of Caledonia's senior management team and the interests of shareholders. Accord-ingly, 80 percent of the award value for each Participant is made up of PSU's.
"The final number of PSU's which vest on maturity of the award will be adjusted to reflect the actual perfor-mance of the Company in terms of three criteria: progress on the sink-ing of the Central Shaft; gold pro-duction and production costs.
"In the case of all three criteria, if actual performance is less than 70 percent of target, no PSU's will vest; if actual performance is greater than 70 percent of target, the num-ber of vesting PSU's will be adjusted pro rata on a linear basis.
"In the case of Central Shaft pro-gress, adjustment will be to a maximum of 100 percent of target whereas adjustments with respect to gold production and costs will increase on a linear pro rata basis reflecting the extent to which actual performance exceeds target, sub-ject to a maximum of 200 percent of the initial target," said the Toronto
Stock Exchange and London-listed Caledonia in a statement.
The total annual LTIP award for Messrs. Learmonth, Mangezi and Roets is 20 percent of basic salary; the total annual LTIP award for Mr Curtis is 30 percent of his basic sal-ary.
Commenting on the introduction of the Plan, Caledonia chairman Mr Leigh Wilson said:
"Caledonia has set in place an objective and transparent incentiv-isation system for its senior man-agement team which closely aligns the interests of shareholders and the performance of management.
"Management is now clearly incenti-vised to deliver on the core aspects of the Revised Investment Plan which we announced to the mar-ket in November 2014 - these core aspects being gold production, cost control and progress on sinking the Central Shaft."
Caledonia's main interest is a 49 percent stake in the Gwanda-based gold producer, Blanket Mine.
Mr Steve Curtis
Caledonia awards long term incentive awards to 4 directors
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HARARE - Microfinance insti-tution, Hillthru Enterprises, has established several branches across the country as it seeks to sustain a market (small business enterprises) that is typically seen as high-risk area by major banks.
The MFI currently has 18 branches spread across all cor-ners of the country Harare, Bulawayo, Mutare, Gweru, Masvingo, Chipinge, Chiredzi, Gutu, Zvishavane, Rusape, Beitbridge, Gwanda, Kwekwe, Gokwe, Lupane, Marondera, Chimanimani and Hwange.
Hillthru Enterprises CEO Mr Taguma Mazarire said the fact that it remains one of the few MFIs with a headquarters in Masvingo is a clear demonstra-tion that they have a special focus on the small business niche in outlaying areas.
Typically most MFIs are based in the country's two main cities
- Harare and Bulawayo.
According to an RBZ report last year, of the main cities, Harare had the highest numbers of MFIs with 124, followed by Bul-
awayo with 41, Mutare with 28 and Gweru 27.
Mr Mazarire said the company has grown on the backbone of accountability, responsibil-
ity, transparency and reliabil-ity, and that the firm is fully in compliance with the Core Client Protection Principles.
Hillthru Enterprises is fully in compliance with the Core Cli-ent Protection Principles and we actually go an extra mile to make sure our clients are happy and that all the regulations con-cerning protection of clients are adhered to.
The strategies we institute in regard to regulations concern-ing the protection of clients include Fair pricing of loans and transparency in terms of charges, prevention from over indebtedness, maintaining of privacy, as well as fair and respectful treatment, he said.
MFIs, especially in the con-text of the present state of the local economy, fill a needed gap within the financial ser-vices industry by offering small loans, or micro-loans, to people unable to access conventional loan services.
MFI spreads wings across Zimbabwe
By Elita Chikwati
HARARE - The Tobacco Indus-try and Marketing Board and Agritex are conducting a crop assessment in all tobacco growing areas to come with a crop estimate for the 2016 marketing season as well as determine the opening dates for the season
TIMB public relations manager, Mr Isheunesu Moyo said their officers were on the ground in all provinces to assess read-iness of the farmers for the season.
The crop estimate will ena-ble us to prepare adequately for the season. Most farmers who had an irrigated crop are reaping and curing but the crop quality has been affected by hot weather and this may affect the quality of the crop, he said.
Mr Moyo said TIMB was going to use the e-marketing tech-nology to improve the market-ing system. The introduction
of e-marketing at Zimbabwes auction floors is aimed at increasing transparency in the tobacco business especially the selling of the crop.
India is facilitating the soft-ware and the hardware while the other equipment will be obtained from local compa-
nies. Tobacco production has been on the increase for the past years with farmers switching from crops such as maize and cotton to the lucra-tive golden leaf.
Farmers have however been complaining about the ceiling price of $ 4, 99 per kilogramme
at the auction floors while con-tract floors offer prices above $5 per kg.
According to contractors, the prices at the contract floors are higher to incentives the farmers and also reward them for not side marketing the crop.
TIMB, Agritex conduct crop assessment
HARARE - Low activity was the order of the day as only three counters managed to trade today.
The mainstream industrial index lost a