BUSINESS NEWS

Confusion reigns over Harare-Beitbridge dualisation

Confusion is reigning over the $1 billion dualisation of the Harare-Beitbridge highway as conflicting statements have emerged on the granting of tax concessions o the contractor, Geiger International....

By Staff reporter | Published: 15 September 2017

BUSINESS NEWS

RBZ rejects upwards review of forex retention

RBZ has rejected a request from platinum and chrome producers to have their foreign currency retention threshold increased from 20 percent, but assured them of timely disbursements of hard currency up...

By Staff reporter | Published: 15 September 2017

BUSINESS NEWS

Transit traffic drops on e-tracking system

THE Zimbabwe Revenue Authority (Zimra) says transit traffic has dropped by 60% since the introduction of the Electronic Cargo Tracking System (ECTS), showing many were involved in transit smuggling.Th...

By Staff reporter | Published: 15 September 2017

BUSINESS NEWS

Vehicle scandal rocks Traffic Safety Council

Traffic Safety Council of Zimbabwe (TSCZ) managing director Obio Chinyere is embroiled in a scandal for allegedly selling a company vehicle in contravention of laid down procedures.An internal audit c...

By Staff reporter | Published: 15 September 2017

BUSINESS NEWS

Zimbabwe in national branding exercise

Government has embarked on a national branding exercise, with six key pillars expected to improve the battered image of the country, Minister of Tourism and Hospitality Industry, Walter Mzembi, has sa...

By Staff reporter | Published: 14 September 2017

BUSINESS NEWS

Business courts elusive Mugabe

US President Donald Trump's first big meeting, three days after his inauguration, was with the chief executives of America's 12 largest corporations. A decidedly pro-business president, Trump used the...

By Staff reporter | Published: 14 September 2017

BUSINESS NEWS

Forex payments backlog nears $600m, says RBZ

ZIMBABWE'S international payments backlog has surged by over 200 percent to $570 million, from $186 million in May, central bank governor John Mangudya has said, as the country's foreign exchange shor...

By Staff reporter | Published: 14 September 2017

POLITICS

'Business interface with Mugabe fruitful'

THE Confederation of Zimbabwe Industries (CZI) has described its meeting with President Robert Mugabe last week as fruitful, despite criticism that the business delegation failed to robustly engage hi...

By Staff reporter | Published: 14 September 2017

BUSINESS NEWS

Emergency passports suspended over forex

THE Registrar General's (RG) department has suspended issuing emergency passports, as ongoing foreign currency shortages continue to affect key public and commercial operations.Zimbabwe is grappling w...

By Staff reporter | Published: 14 September 2017

BUSINESS NEWS

Ray Goba appointed Prosecutor-General

President Mugabe has with immediate effect appointed Advocate Ray Hamilton Goba as substantive Prosecutor-General (PG) following the dismissal of Mr Johannes Tomana on account of gross incompetence a...

By Staff reporter | Published: 14 September 2017

BUSINESS NEWS

Zesa escalates power imports

AN escalation of imports by ZESA Holdings resulted in a 444 percent surge in electricity purchases to $221 million last year, as the country's power utility sought to close the generation gap and aver...

By Staff reporter | Published: 14 September 2017

POLITICS

Zim indigenization amendment hopes dashed

HOPES that the Indigenisation and Economic Empowerment Act would be amended before next year's elections were this week dashed after President Robert Mugabe skirted the law in his legislative agenda f...

By Staff reporter | Published: 14 September 2017

BUSINESS NEWS

CZI to probe forex allocation to firms

THERE is a need to investigate the reasons behind some industry players failing to access the foreign currency allocated to them by the Reserve Bank of Zimbabwe.The Confederation of Zimbabwe Industrie...

By Staff reporter | Published: 14 September 2017

BUSINESS NEWS

30 under-performing parastatals resist audit

At least 30 parastatals and State enterprises were not audited last year for various reasons which will be revealed by Accountant-General Mr Daniel Muchemwa when he tables a comprehensive report befor...

By Staff reporter | Published: 14 September 2017

POLITICS

Mugabe gobbles $10m on UN trip

OPPOSITION parties and civic groups have expressed outrage at reports that President Robert Mugabe's delegation of more than 70 people to the forthcoming United Nations General Assembly will blow ove...

By Staff reporter | Published: 14 September 2017

BUSINESS NEWS

Vehicle road accidents fund on the cards

PRESIDENT Mugabe has bemoaned the continued loss of lives in road traffic accidents and said a Motor Vehicle Accident Fund is on the cards as a measure of relief to survivors and families of victims.S...

By Staff reporter | Published: 13 September 2017

BUSINESS NEWS

SecZ eyes diaspora

The Securities Exchange Commission of Zimbabwe (SECZ) has set its eyes on the diaspora as it accelerates its campaign to lure investors on the capital markets.The push to lure the diaspora will be aid...

By Staf reporter | Published: 13 September 2017

BUSINESS NEWS

Forex shortages, imports weigh down companies

ALL economic sectors in Zimbabwe are facing serious challenges, chief among them the lack of access to foreign currency and influx of cheap imports, the Confederation of Zimbabwe Industries (CZI) has ...

By Staff reporter | Published: 13 September 2017

BUSINESS NEWS

Zim determined to introduce health insurance

Despite the dwindling formal sector that has traditionally been the anchor of the country's economy, government, through the ministry on Health and Child Care, is determined to soon introduce a Nation...

By Staff reporter | Published: 12 September 2017

BUSINESS NEWS

Fast food outlets comply with kaylite ban

More than 83 percent of the conventional supermarkets, fast food outlets and retail shops have complied with the directive on the ban on the use of kaylite (polystyrene) food packaging.The problem is ...

By Staff reporter | Published: 12 September 2017

OPINION

Parastatals need complete overhaul

IN response to Mugabe to blame for parastatal mess: ZCTU: Your report that the Zimbabwe Congress of Trade Unions (ZCTU) blames President Robert Mugabe for the collapse of State-owned companies is spot...

By Staff reporter | Published: 12 September 2017

BUSINESS NEWS

Cost of living up 0.52%

The cost of a monthly food basket for a family of six has increased by 0.52 percent to $579.84 in August due to fluctuation in fuel prices and the use of plastic money.In its latest report, the Consum...

By Staff reporter | Published: 12 September 2017

BUSINESS NEWS

'Bond note loses half its value'

The value of bond notes has gone down by more than 50% on the parallel market, showing rising inflation remains on course a local financial research firm has revealed.Research firm, IH Securities said...

By Staff reporter | Published: 12 September 2017

BUSINESS NEWS

Funeral companies target property development

THE funeral assurance industry is targeting to venture into property development as the sector seeks to diversify its fortunes. This comes after several financial institutions and insurance firms have...

By Staff reporter | Published: 12 September 2017

BUSINESS NEWS

Insurers decry annual registration

The proposed annual registration of medical aid service providers is a threat to continuity of business and confidence as this is likely to create uncertainty and promotes looting by members, Associat...

By Staff reporter | Published: 12 September 2017

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