BUSINESS NEWS

Afreximbank facility to avert fuel prices

A $600 million nostro stabilization facility from Afreximbank will largely support fuel and electricity imports as well as critical government obligations, sources said this week. The development will...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Chinamasa disowns Meikles debt

GOVERNMENT has disowned Meikles Limited's $90 million claim over a two-decade old Reserve Bank of Zimbabwe (RBZ) debt and has made a counter demand, saying it had overpaid the hospitality and retail g...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Zim steps up power import payments

THE Reserve Bank of Zimbabwe and ZESA Holdings have agreed that between $5 million and $10 million per week will be paid towards servicing debt arrears to South Africa's power utility, Eskom, and Hydr...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Zimra wants stiffer penalties for tax evaders

ZIMBABWE'S tax agency says it is lobbying for new legislation which will see tax evaders being handed stiffer penalties, as the country which solely relies on tax to fund its operations tries to shore...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Zim, SA to establish clinics on major highways

ZIMBABWE and South Africa have agreed to establish clinics along major highways to cater for cross border truck drivers within the region so that they can access HIV health related services.South Afri...

By Staff reporter | Published: 30 August 2017

BUSINESS NEWS

Govt ready to work with credible partners

Government says it is ready to work with credible and genuine partners in the implementation of large-scale development programmes aimed at addressing community needs.Work being done by development pa...

By Staff reporter | Published: 30 August 2017

BUSINESS NEWS

Cross borders told not to spend loan on luxuries

Potential beneficiaries of the $15 million RBZ cross border entrepreneurship facility have been warned against spending their business start up pack on luxuries.Modalities for disbursement of the $15 ...

By Staff reporter | Published: 30 August 2017

BUSINESS NEWS

Zim urged to exploit Chinese market

Players in the agricultural sector in Zimbabwe should take advantage of the huge investment opportunities in the Chinese market, an envoy said on Tuesday.Chinese ambassador to Zimbabwe Huang Ping said...

By Staff reporter | Published: 30 August 2017

BUSINESS NEWS

Cross borders traders urged to pay back loans

Cross border traders in the Midlands who will access loans under the US$15 million scheme have been warned not to be dishonest by not paying back borrowed funds.The rollout of the US$15 million loan f...

By Staff reporter | Published: 30 August 2017

BUSINESS NEWS

Cross-border traders express gratitude to Grace Mugabe

Cross-border traders have thanked President Mugabe and First Lady Dr Amai Mugabe for ensuring that they get a $15 million facility from the Reserve Bank of Zimbabwe to enhance their operations. Speaki...

By Staff reporter | Published: 30 August 2017

BUSINESS NEWS

'Political will critical for SEZs success'

POOR administration and lack of political will in Zimbabwe are some of the major threats to the success of the Special Economic Zones (SEZs) touted as one of the major economic panaceas, economic expe...

By Staff reporter | Published: 30 August 2017

BUSINESS NEWS

Zimra officials abuse electronic cargo system

Zimbabwe Revenue Authority (Zimra) officials are prejudicing Government of money running into millions of dollars in potential revenue by failing to implement laid down procedures on transit cargo, th...

By Staff reporter | Published: 30 August 2017

BUSINESS NEWS

Zim, SA sign health co-operation deal

ZIMBABWE and South Africa yesterday signed a five-year health co-operation deal to jointly fight common diseases such as malaria, tuberculosis and HIV and Aids, among others.The agreement, signed by H...

By Staff reporter | Published: 30 August 2017

BUSINESS NEWS

One million face hunger in Zimbabwe

OVER a million people in the rural areas face hunger at the peak of the coming lean season, a top World Food Programme (WFP) official has said.Chinese Ambassador to Zimbabwe Huang Ping places a stone ...

By Staff reporter | Published: 30 August 2017

BUSINESS NEWS

Govt moves to pay off Chinese contractor

GOVERNMENT has paid half of the $3 million debt owed to a Chinese contractor who constructed the multi-million dollar Beitbridge Water Treatment Plant.China International Water and Electric Corporatio...

By Staff reporter | Published: 30 August 2017

BUSINESS NEWS

ZCTU condemns Masiyiwa for ill-treating workers

The Zimbabwe Congress of Trade Union (ZCTU) on Tuesday accused business mogul Strive Masiyiwa for ill-treating workers at his companies, Econet Wireless and Steward Bank.In a statement, ZCTU secretary...

By Staff reporter | Published: 29 August 2017

BUSINESS NEWS

Zim firms comply with global accounting policies

Zimbabwe's companies are now fully compliant with global accounting principles in their financial statements thereby providing opportunities for increased investments in the economy.Institute of Chart...

By Staff reporter | Published: 29 August 2017

BUSINESS NEWS

RTGS slump drags NPS payments

The total value of transactions processed through the National Payment System (NPS) decreased 33,3 percent to $1,2 billion in the week to August 18, from $1,6 billion in the previous week, as Real Tim...

By Staff reporter | Published: 29 August 2017

POLITICS

Grace Mugabe ordered to stop evictions

THE Zimbabwe Human Rights Commission (ZHRC) has descended hard on First Lady Grace Mugabe and ordered her to stop her violent eviction of villagers and the hostile takeover of Arnold Farm in Mazowe fo...

By Staff reporter | Published: 29 August 2017

BUSINESS NEWS

Tsvangirai told to 'come down'

MDC-T vice-president Thokozani Khupe has urged party leader Morgan Tsvangirai to defer the planned second launch of the MDC Alliance in Bulawayo on Saturday and organise an urgent meeting with his top...

By Staff reporter | Published: 29 August 2017

BUSINESS NEWS

Tender for Nicoz House refurbishment

Zimre Property Investment (ZPI) will soon be going to tender for the refurbishment of Nicoz House Bulawayo into a student accommodation facility that will offer 94 beds, managing director Edson Muving...

By Staff reporter | Published: 29 August 2017

BUSINESS NEWS

Unicef warns of fake job offers

The United Nations Children's Fund (Unicef) has warned the public against fraudsters who are charging people money to apply for non-existent jobs at the UN agency.Speaking in a telephone interview, Un...

By Staff reporter | Published: 29 August 2017

BUSINESS NEWS

'Bulawayo 'lacks' creative entrepreneurs'

INDUSTRY expert and United Refineries chief executive, Mr Busisa Moyo, has challenged Bulawayo entrepreneurs to "soul search" and come up with creative business ideas that will help develop the city's...

By Staff reporter | Published: 29 August 2017

EDUCATION

Zinasu blasts 'exclusionary' loans

THE Zimbabwe National Students' Union (Zinasu) yesterday said the newly-launched Higher and Tertiary Education loan facility was exclusionary as students with parents who have no pay-cheque will not b...

By Staff reporter | Published: 29 August 2017

BUSINESS NEWS

Unpaid contributions affect pension funds

The quality of assets for stand-alone pension funds was greatly compromised as of March 31, 2017 owing to a significant proportion of unpaid contributions amounting to $407,958 million, the Insurance ...

By Staff reporter | Published: 29 August 2017

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