BUSINESS NEWS

Harare cancels Mushore contract

MDC-T-led Harare City Council has finally terminated the contract of former NMBZ Bank chief executive James Mushore and the former banker will smile all the way to the bank as the municipality owes hi...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

More bond notes coming

THE Reserve Bank of Zimbabwe (RBZ) will soon release $300 million worth of bond notes into the market under a new facility secured from the Africa Export and Import Bank (Afreximbank) to ease the cash...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Zimbabweans to engage SA on foreign quotas

ZIMBABWEAN immigrants based in South Africa are planning to engage South Africa's ruling African National Congress (ANC) party to contest recent proposals by that country's unions to restrict employme...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Gwanda mourns prominent businessman

Gwanda residents were yesterday mourning prominent local businessman, Tariro Maphosa, who was gunned down on Monday night in an armed robbery, describing him as a role model.Maphosa was shot three tim...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Zim looks to wind for power generation

The Government is intensifying efforts to harness wind power for the generation of electricity as part of its efforts to promote the use of environmentally friendly energy technologies.According to Mr...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

$600m nostro facility secured

THE Government has secured a $600 million nostro-stabilisation facility from AfreximBank to boost the country's foreign exchange receipts and enhance efficient procurement of key inputs for the produc...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Teachers' union seeks Mugabe intervention over fees

THE Amalgamated Rural Teachers' Union of Zimbabwe (ARTUZ) has urged President Robert Mugabe to direct schools in the countryside to stop chasing away pupils over failure to pay tuition fees.This follo...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Zim records $24bn RTGS H1 transactions

RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya says transactions worth $27.4 billion were made through the Real Time Gross Settlement (RTGS) system in the first six months of this year.In th...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Reserve Bank extends export incentive scheme

THE Reserve Bank of Zimbabwe (RBZ) has extended the bond notes export incentive scheme by $300 million under a standby liquidity support from the AfreximBank.RBZ Governor Dr John Mangudya announced th...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

350 companies back on feet, claims RBZ

AT least 350 companies have been revived countrywide courtesy of Government's policy support measures such as Statutory Instrument 64 of 2016 and the spill-over effects of increased agricultural produ...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Health insurers, medical doctors on scientific tariff

Government, in partnership with health insurers and medical doctors, has embarked on a process to ascertain the actual cost of medical services in Zimbabwe to address the impasse that has existed betw...

By Staff reporter | Published: 03 August 2017

POLITICS

Mnangagwa dodges succession questions in Parly

VICE-PRESIDENT Emmerson Mnangagwa yesterday skirted questions relating to the recent public attacks directed at him by First Lady Grace Mugabe, where she demanded that President Robert Mugabe should n...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Southern Granite invests $1.9m in machinery

Granite rock processor, Southern Granite (Pvt) Ltd has invested $1,9 million in machinery, which will double its production. In an interview on the sidelines of a factory tour by Industry and Commerce...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Zimra surpasses July revenue target by 11%

The Zimbabwe Revenue Authority (Zimra) continues to enjoy the benefits of various initiatives it has been implementing to increase revenue collection with gross collection for July surpassing the $286...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

RBZ raises travel allowance to $2,000

THE Reserve Bank of Zimbabwe (RBZ) has increased the amount of foreign currency an individual can carry outside the country to $2 000 with immediate effect. RBZ had put the limit at $1 000 on May 5 la...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Zimbabwe courts private investors

ECONOMIC Planning and Investment Promotion minister Obert Mpofu yesterday said the government is working towards more private sector involvement in the funding of the implementation of the Sustainable...

By Staff reporter | Published: 03 August 2017

BUSINESS NEWS

Zimra engages MPs in fighting corruption

The Zimbabwe Revenue Authority (Zimra) called upon Parliamentarians to enact laws that will help in curbing corruption.Speaking at a Parliamentarians Workshop which the Authority hosted in Harare on t...

By Staff reporter | Published: 02 August 2017

BUSINESS NEWS

Donkeys used to smuggle cars into Zimbabwe

Police in South Africa have foiled an attempt to smuggle a stolen luxury car into Zimbabwe using donkeys to pull it across the Limpopo river.The suspects fled into the bushes towards Zimbabwe after th...

By BBC | Published: 02 August 2017

POLITICS

Mugabe, Mbeki in private talks

FORMER South African leader Thabo Mbeki flew into Harare early on Monday for "consultations" with President Robert Mugabe, as Zimbabwe teeters on the brink of implosion over the 93-year-old Zanu-PF le...

By Staff reporter | Published: 02 August 2017

BUSINESS NEWS

Education Ministry faces eviction

THE Mining Industry Pension Fund (MIPF) has taken the Ministry of Primary and Secondary Education to court seeking an eviction order over a debt of more than $270 000 in unpaid rentals and other opera...

By Staff reporter | Published: 02 August 2017

BUSINESS NEWS

CZI congress, investment forum kicks off

THE Confederation of Zimbabwe Industries (CZI) annual congress and international investment forum kicks off in Victoria Falls today.The three-day event, which runs under the theme, "Growing manufactur...

By Staff reporter | Published: 02 August 2017

OPINION

Early childhood financial literacy

THE best way to grasp a concept is when one is young. Children have the ability to throttle concepts better than adults. It is in the best interest of society to catch the children young and incalcula...

By Morris Mpala | Published: 02 August 2017

BUSINESS NEWS

Staff shortage cripples Mpilo Cancer unit operations

SHORTAGE of staff is crippling the smooth running of Mpilo Central Cancer Unit which was opened in April this year.The unit, which has since rolled out nuclear medicine, does not have the required num...

By Staff reporter | Published: 02 August 2017

BUSINESS NEWS

Zesa pays $8 million to avoid load shedding

Zimbabwe has paid $8 million to Eskom of South Africa and Hydro Cahora Bassa (HCB) of Mozambique to avoid losing 350 megawatts as the country battles to liquidate arrears amounting to over $50 millio...

By Staff reporter | Published: 02 August 2017

OPINION

Alternative SMEs taxation models

THERE is no doubt that small to medium enterprises (SMEs) are fast becoming a key economic pillar not only in Zimbabwe but globally. No government today will ignore the interests of this promising sec...

By Prosper Ndlovu | Published: 02 August 2017

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