BUSINESS NEWS

Zim fumes over call to hike vehicle import duty

THE Motor Industry Association of Zimbabwe (MIAZ) has reacted angrily to Speaker of the National Assembly Jacob Mudenda's proposal for a 150% hike on import duty for second-hand vehicles.Speaker of th...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Kariba South expansion project 91% complete

The Kariba South expansion project is at 91 percent complete amid indications that the first phase of the project will bring 150 mega watts on the national grid by December this year.The successful im...

By Staff reporter | Published: 28 July 2017

POLITICS

Mugabe's office in tender scam

The Office of the President and Cabinet has unilaterally awarded a multi-million dollar project to a local firm called Univern Enterprises to implement the Zimtis without going to tender or ascertaini...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Business set conditions over SEZs regulations

BUSINESS says it will only accept labour regulations for Special Economic Zones (SEZs) if they meet certain conditions which include rationalising production and improving competitiveness, businessdig...

By Staff reporter | Published: 28 July 2017

OPINION

Zimbabwe outlook bleak despite projected growth

The presentation by Finance minister Patrick Chinamasa on July 20 was unique in that it was not a mid-term fiscal policy review, but rather a review of the 2016 fiscal year, combined with the outlook ...

By Daniel Ngwira | Published: 28 July 2017

OPINION

Effective use of language vital to managing

LIKE the old adage says, Language is a key to success! In the world of cutting edge business practice today, language has become a means to successful business operation.For most in leadership, manage...

By Robert Mandeya | Published: 28 July 2017

BUSINESS NEWS

CTC to block NatFoods merger

Innscor Africa Limited's plans to merge partial subsidiary companies, NatFoods and Profeeds are under threat following recommendations adopted by the Competition and Tariff Commission to block the dea...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

RTG shareholders divided on group’s future

Major shareholders in ZSE listed hotelier RTG are deeply divided on strategy around handling the group’s creditors and debtors as well as the fate of a sizeable stake in the business which has been ...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Mobile money constitutes 12.5% of NPS transactions

Mobile transactions now constitute 12.5 percent of the national values and around 70.6 percent of volumes for the month ending June 2017. This comes at a time when the cash shortages currently being e...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Massive board shake-up looms at Zinara

Heads are set to roll at National Roads Fund Administrator (Zinara) following revelations of a massive board shake-up that could also claim the scalps of executives and its long serving chairman. Info...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Brainworks in $6m tax 'glitch'

Brainworks Capital Management (BCM) has been garnished by the Zimra over failure to pay in $6 million tax debts, it has emerged. The firm's non-executive director, George Manyere said that the garnish...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

'Zimbabwe must resolve currency problem'

Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) executive director, Caleb Fundanga has said Zimbabwe must make a clear and final decision on the currency in use...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

'Zim parastatals unaudited for 10 years'

DEPUTY Chief Secretary to the President and Cabinet Ray Ndhlukula says some State enterprises have not produced audited financial results for the past 10 years and were contributing far less to the ec...

By Staff reporter | Published: 28 July 2017

POLITICS

Parliament rejects Auditor General appointee Ndudzo

FINANCE and Economic Development Minister Patrick Chinamasa was yesterday forced to suspend debate on the nomination of Industrial Development Corporation general manager Mr Mike Ndudzo as new Auditor...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Gold reserves to back Zimbabwe currency

Government is building diamond and gold reserves to back the local currency upon its re-introduction in future, Vice-President Emmerson Mnangagwa has said. VP Mnangagwa refused to disclose when the lo...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Mnangagwa moots resurrecting Zimdollar

Vice-President Emmerson Mnangagwa has revealed that the defunct Zimbabwean dollar could soon be resurrected, as the government is gradually piling up gold and diamond reserves to back it up since they...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Zimbabwe, South Africa to meet over imports ban

Industry and Commerce Ministry officials will meet their South African counterparts as part of the ongoing dialogue over the importation of goods from the neighboring country.The ministerial meetings ...

By Staff reporetr | Published: 27 July 2017

EDUCATION

Zim education loan facility fund on the cards

All those who graduated from public institutions starting with the University of Zimbabwe from 1980 to 2006 and received government grants would be required to pay US$1000 that will go towards a revol...

By Staff reporter | Published: 27 July 2017

BUSINESS NEWS

Zim crisis deepens as cash deposits dwindle

COMMERCIAL banks held just $65 million physical cash foreign currency, bond notes and coins at the end of May, central bank data shows, highlighting a mounting cash crisis that has wracked the economy...

By Staff reporter | Published: 27 July 2017

BUSINESS NEWS

NocZim defaults on debt despite levying motorists

ZIMBABWE has defaulted on the National Oil Company (NocZim) debt, incurring nearly $90 million in penalties last year, despite raising an average $40 million annually through a fuel levy introduced to...

By Staff reporter | Published: 27 July 2017

BUSINESS NEWS

Zimbabwe's Auditor General fired

PRESIDENT Robert Mugabe has sacked Auditor General, Mildred Chiri, more than two years before the expiry of her contract signed in 2013, The Financial Gazette reported.Although Chiri has been in her ...

By Staff reporter | Published: 27 July 2017

BUSINESS NEWS

Western billions flow into Mugabe's Zimbabwe

ZIMBABWE has received over $3 billion in aid from Western governments since 2012, official data shows, despite a two-decade-long diplomatic fall out and sanctions targeted at President Robert Mugabe a...

By Staff reporter | Published: 27 July 2017

BUSINESS NEWS

Harare building inspection fees up 100%

THE Harare City Council (HCC) has hiked residential and commercial building inspection fees by 100 percent.City fathers said the increase in charges was needed to cover administrative costs of inspect...

By Staff reporter | Published: 27 July 2017

BUSINESS NEWS

'Biogas projects will address councils' waste challenges'

Energy and Power Development minister Samuel Undenge yesterday urged all urban municipalities to adopt and develop biogas projects.Speaking during a tour of the Mbare biogas project, Undenge said the ...

By Staff reporter | Published: 27 July 2017

BUSINESS NEWS

Mine Entra urges organisers to reduce exhibiting charges

EXHIBITORS at the just-ended Mining, Engineering and Transport (Mine Entra) expo have called on organisers of the event to reduce exhibiting charges to avoid chasing away potential exhibitors.Running ...

By Staff reporter | Published: 27 July 2017

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