POLITICS

Perrence Shiri's ministry fails to account for $2 billion

OPPOSITION parties have expressed anger over the shambolic accounts at the Agriculture ministry which saw it using $2 billion budget with no supporting documents. This came out this week when the Tend...

By Staff reporter | Published: 11 July 2019

BUSINESS NEWS

Zimra on course to surpass $4,8 billion target

THE Zimbabwe Revenue Authority (Zimra) is well on course to surpass its half year revenue collection target with the final report for the period set for release at the end of this month, board chairpe...

By Staff reporter | Published: 10 July 2019

BUSINESS NEWS

Tax scam costs Govt billions

Some players in the garment-making sector are allegedly skimming the Government of billions of dollars in potential tax revenue and suffocating downstream textile industries by abusing a special cloth...

By Staff reporter | Published: 10 July 2019

TELECOMS & TECHNOLOGY

Govt, parastatals owe TelOne $93m in unpaid bills

Telone trimmed its debtors' book by 7% from $162 million in 2017 to $151 million in 2018, but is still struggling to recover debts owed by government departments and parastatals totalling $93 million ...

By Staff reporter | Published: 03 July 2019

SOCCER

Al Ahly revive Billiat interest

EGYPTIAN football giants Al Ahly have reportedly revived their interest in Warriors forward Khama Billiat, who displayed a scintillating performance in the opening match of the 2019 African Cup of Nat...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

Zimbabwe Investment Development Bill softens up on foreign investors

THE Zimbabwe Investment Development Bill (Zida), currently in its second reading stage in the National Assembly, will soften up on foreign investors and treat them in the same way that Zimbabwean inve...

By Staff reporter | Published: 20 June 2019

BUSINESS NEWS

Zimbabwe's Ill-gotten wealth Bill to be gazetted

A BILL to empower the State to seize ill-gotten wealth is expected to gazetted on Friday before the legislative process commences in Parliament next week, a Cabinet Minister has said. The crafting of ...

By Staff reporter | Published: 11 June 2019

POLITICS

'Zanu-PF, army, police and CIO inflate govt wage bill'

PRESIDENT Emmerson Mnangagwa continues to pay ghost workers unearthed by a civil service audit a few years ago, former Finance Minister Tendai Biti has claimed.Biti told newzimbabwe.com in an intervie...

By newzimbabwe | Published: 03 May 2019

LANDS & AGRICULTURE

Cotton industry targets $1 billion earnings annually

THE Cotton Company of Zimbabwe (Cottco) plans to put a minimum of 100 000 hectares across the country under commercial cotton farming with the sector poised to generate a minimum of US$1 billion annua...

By Staff reporter | Published: 30 April 2019

AFRICA BUSINESS

Gold worth billions smuggled out of Africa

Billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East - a gateway to markets in Europe, the United States and beyond - a Reu...

By Reuters | Published: 28 April 2019

BUSINESS NEWS

'ZIDA Bill to improve ease of doing business'

THE Zimbabwe Investment and Development Agency (ZIDA) Bill gazetted early this month will among other things, seek to curb environmental degradation by big investment projects.The Bill is aimed at imp...

By Staff reporter | Published: 24 April 2019

MINING & RETAIL

Mnangagwa pens $5 billion mining deal

PRESIDENT Emmerson Mnangagwa's government has inked what it has termed a major mining investment deal with Chinese company, Tsingshan Holdings.The deal, signed by Mines minister Winston Chitando and T...

By Staff reporter | Published: 24 April 2019

MINING & RETAIL

Zimbabwe seals $5 billion deal for new steel plant

GOVERNMENT yesterday signed an investment deal worth more than $5 billion with a Chinese steel manufacturing giant, Tsingshan, for the setting up of a new steel plant in Mvuma and to bankroll a number...

By Staff reporter | Published: 24 April 2019

BUSINESS NEWS

Investment bill to be gazetted in 2-3 weeks

THE Zimbabwe Investment Development Authority Bill (Zida) is set to be gazetted within the next few weeks. The merging of the country's investment entities mooted in May 2018 is inspired by the Rwanda...

By Staff reporter | Published: 04 February 2019

MINING & RETAIL

South African firm injects R55 billion into Lupane gas

A SOUTH African mining firm Tumagole Consortium says it is committed to investing R55 billion into the Coal-Bed Methane mining project in Lupane. Tumagole Consortium officials, who were led by South A...

By Staff reporter | Published: 31 January 2019

MINING & RETAIL

Companies Bill presented

JUSTICE minister Ziyambi Ziyambi yesterday presented the second reading of the Companies and Other Business Entities Bill which, among other provisions, facilitates the electronic registration of busi...

By Staff reporter | Published: 31 January 2019

FINANCIAL SERVICES

Zimbabwe commercial bank deposits surge 25% to $8 billion

Commercial banks deposits rose by 25% to $8 billion in the first 10 months of last year, data from the central bank has shown.According to the Reserve Bank of Zimbabwe (RBZ)'s monthly review of Octobe...

By Staff reporter | Published: 30 January 2019

BUSINESS NEWS

Mnangagwa's cabinet approves new cyber bill

With Zimbabwe's Internet shutdown still partly in place, the Information minister says that the government has crafted a new law to curb abuse of the Internet .Zimbabweans were left without Internet&n...

By Staff reporter | Published: 19 January 2019

POLITICS

Mugabe wheelchair-hound, taxpayers to foot $4m bill

THE taxpayer continues to foot former president Robert Mugabe's medical bills, as it emerged President Emmerson Mnangagwa's government gave the deposed strongman US$4 million to cover his hospital exp...

By Staff reporter | Published: 19 January 2019

BUSINESS NEWS

Consumer Protection Bill gazetted

Government has gazetted the Consumer Protection Bill which seeks to protect consumers of goods and services against unnecessary price increases by businesses.The Bill, now cited as the Zimbabwe Consum...

By Staff reporter | Published: 02 January 2019

BUSINESS NEWS

Revenue collections surpass $5 billion

ZIMBABWE'S revenue collections surpassed $5 billion after a tax increase on electronic transfers buoyed December collections to peak at $572,4 million, official data has shown.In a bid to shore up dep...

By Staff reporter | Published: 31 December 2018

TRANSPORT & TOURISM

Zimbabwe tourism sector grosses $1 billion

Considerable dividends have begun to accrue to Zimbabwe as Government and the private sector continue to ratchet up efforts to promote Zimbabwe as a safe destination. The tourism sector has since gros...

By Staff reporter | Published: 30 December 2018

BUSINESS NEWS

Forex inflows hit $6 billion

Zimbabwe's foreign currency earnings for the year to date have hit the US$6 billion mark, from US$4,6 billion realised in the whole of last year as the country's exports and Diaspora remittances conti...

By Staff reporter | Published: 21 December 2018

BUSINESS NEWS

Zimra's US$7 billion forecast

The Zimbabwe Revenue Authority (ZIMRA) is projecting strong growth in revenue collection to at least US$7 billion within the next five years supported through their five year strategic plan  that...

By Staff reporter | Published: 20 December 2018

BUSINESS NEWS

Cassava enters the Zimbabwe market at $3.8 billion

Cassava SmarTech Zimbabwe made history on 18 December 2018 when it debuted in the market at a price of $1,50 per share, valuing the company at $3,8bn. It immediately became Zimbabwe's third most valua...

By Staff reporter | Published: 19 December 2018
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