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INDUSTRIALS & ENERGY

Eskom confirms Zimbabwe paid back the money

Eskom has confirmed that payment from Zimbabwe regarding outstanding debt is reflecting in the power utility's account. Earlier on Tuesday, Fin24 reported that Zimbabwe Energy minister Fortune Chasi p...

By Staff reporter | Published: 02 July 2019

POLITICS

Man charged for insulting Mnangagwa

A 38-year old Rushinga man recently appeared in court for insulting President Emmerson Mnangagwa.Morgan Muchemwa of Rushinga in Mashonaland Central Province recently appeared before magistrate Tendai ...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Zesa to disconnect defaulting bigwigs

AS power shortages escalate with devastating effects on both domestic and industrial use, power utility Zesa Holdings (Zesa) has threatened to cut supplies to defaulting users including political heav...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Fuel crisis persists in Zimbabwe

THE country's fuel crisis is getting worse as long winding queues have begun to resurface across the country, a week after government banned the use of the multi-currency system.Deputy Energy minister...

By Staff reporter | Published: 02 July 2019

POLITICS

Khupe speaks on currency

Leader of the smaller MDC Thokozani Khupe has said the new monetary policy highlighted by the ending of a 10-year multi-currency system, does not demonstrate a long term plan with a defined path to so...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Power cuts worsen Bulawayo water rationing

THE water crisis in the second largest city is set to worsen after the local authority said the ongoing power challenges have grossly affected its pumping capacity.The city council introduced a 36-hou...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

'No going back on Zimdollar'

The government will never repeal Statutory Instrument (SI) 142 of 2019 which bans the use of foreign currencies as legal tender and makes the RTGS the country's sole legal tender - Justice minister Zi...

By Staff reporter | Published: 02 July 2019

POLITICS

Ndiweni in Mnangagwa climbdown

OUTSPOKEN traditional leader, Chief Nhlanhlayamangwe Ndiweni - who has in recent months courted the ire of Zanu-PF apparatchiks with his stinging criticism of the government - has praised President Em...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Prices of goods in Zimbabwe will come down

PRESIDENT Emmerson Mnangagwa's under-pressure government says it is confident that the sky-high prices of basic goods that have made the lives of ordinary citizens miserable over the past few months w...

By Staff reporter | Published: 02 July 2019

TRANSPORT & TOURISM

Fastjet's hope for profit pinned on Zimbabwe currency

Low-cost African airline Fastjet Plc expects to be profitable on an underlying basis in 2019, Chief Executive Officer Nico Bezuidenhout said on Thursday, a year after a cash crunch nearly drove the ca...

By Staff reporter | Published: 02 July 2019

FINANCIAL SERVICES

Zimbabwe banks paying more than the black market rates

THE interbank market exchange rates have registered increases with most banks are now paying more than the parallel market rate.NewZimbabwe.com says it's market assessment shows that the once thriving...

By newzimbabwe | Published: 02 July 2019

MINING & RETAIL

PPC Zimbabwe revenue declines by 20%

PRETORIA Portland Cement (PPC) says revenue at its Zimbabwean entity declined by 20%, compared to last year, due to a weaker cement market, clinker shortages and depreciation in the functional currenc...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Chasi posts R139 million proof of payment to Eskom on Twitter

Zimbabwe's energy minister Fortune Chasi was on Tuesday forced to put the proof of the country's US$10m (R139m) payment to Eskom on his twitter account, after earlier claims of having paid was refuted...

By Staff reporter | Published: 02 July 2019

POLITICS

Chamisa will not allow Mnangagwa to stay up to 2023

Zimbabwe's economic crisis has potential to breed instability in the country and needs urgent redress, opposition leader Nelson Chamisa has said.Chamisa, mandated by the MDC congress in May to find la...

By Staff reporter | Published: 02 July 2019

POLITICS

Muchinguri claims $1 million defamation damages from Daily News

DEFENCE Minister, Oppah Muchinguri-Kashiri has filed a $1 million suit against the Daily News for alleged defamation in a case in which the private paper published an article claiming her housing coop...

By Staff reporter | Published: 02 July 2019

TELECOMS & TECHNOLOGY

Econet swings to $106,4m loss after tax

Econet Wireless Zimbabwe Limited (EWZL) posted a loss after-tax of ZWL$106,4 million in the year ended February 28, 2019, from a profit after-tax of ZWL$132,3 million recorded in 2018 following the un...

By Staff reporter | Published: 02 July 2019

INDUSTRIALS & ENERGY

Massive Zesa disconnections loom

POWER utility Zesa could soon embark on massive disconnections in an effort to recover over $1,2 billion owed to it by defaulting customers, most of whom are Cabinet ministers and top civil servants.E...

By Staff reporter | Published: 02 July 2019

FINANCIAL SERVICES

Agribank declares US$5,5m dividend

The Agricultural Development Bank (Agribank) has declared a US$5,5 million dividend to Government after recording a 63 percent growth in profit to $13 million in the year to December 2018, breaking aw...

By Staff reporter | Published: 02 July 2019

INDUSTRIALS & ENERGY

Zimbabwe confirms Eskom payment

Government yesterday confirmed paying US$10 million to South African power utility, Eskom, to service the debt to the power utility - and the money was set to be in the receiver's bank by end of day y...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Measures in place to preserve Zimbabwe dollar value

Finance and Economic Development Minister Professor Mthuli Ncube says authorities have instituted measures that will ensure that the local currency will not suffer previous depredations, following the...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Mnangagwa's govt urged to maintain fiscal discipline

THE move by government to make the RTGS currency the country's sole legal tender can work if government remains fiscally disciplined, builds political and economic confidence and boost production.Last...

By Staff reporter | Published: 01 July 2019

POLITICS

Zanu-PF youth League to look into Chiri's reports

THE Zanu-PF Youth League which has been breathing fire and brimstone over corruption in government and the private sector said it will be looking into Auditor-General (AG) Mildred Chiri's reports whic...

By Staff reporter | Published: 01 July 2019

POLITICS

Pressure on Mnangagwa

PRESIDENT Emmerson Mnangagwa is under extreme pressure to act on Auditor-General (AG) Mildred Chiri's reports, which are exposing the rot in government.This comes after Chiri released damning reports ...

By Staff reporter | Published: 01 July 2019

POLITICS

ZCTU defiant, members to proceed with demonstration

THE Zimbabwe Congress of Trade Unions (ZCTU) yesterday said its members will proceed with their demonstration if government does not revert back to the multi-currency regime, but President Emmerson Mn...

By Staff reporter | Published: 01 July 2019

ASIA PACIFIC

Russia, China to ditch US dollar

MOSCOW and Beijing have inked an intergovernmental agreement to switch to national currencies in bilateral trade and boost cross-currency settlements up to 50 percent as they ramp up efforts to move a...

By Russia Today | Published: 01 July 2019
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