New Bill to revamp pensions funds set to be gazetted soon

THE upcoming Pensions and Provident Fund Bill will allow pension funds to invest up to 20% of their assets in offshore markets, but the regulator says this is subject to the fulfilment of local obliga...

By Staff reporter | Published: 11 October 2019


Harare sells cattle to raise funds

Harare City Council has approved plans to sell 1000 herd of cattle to raise $3,5 million for capital projects meant to improve the state of its farms.The cattle are being kept Crowborough, Ingwe and P...

By Staff reporter | Published: 06 October 2019


Steward PAT up 42% on non-funded income

STEWARD Bank recorded a 42% increase in profit-after-tax to ZWL$31,9 million in the year ended February 28, 2019 from ZWL$22,5m recorded in the previous year, driven by growth in non-interest income.D...

By Staff reporter | Published: 04 July 2019


Mnangagwa's govt in new US$5bn funding negotiations

A UNITED Kingdom-based international financial consultancy firm, ICG Capital and Finance Corps Limited - in partnership with five top-tier United States banks - has tabled a US$5 billion debt restruct...

By Staff reporter | Published: 03 May 2019


'Mnangagwa's govt failing to fund industry revival'

INDUSTRY and Commerce minister Mangaliso Ndlovu has expressed concern over government's failure to adequately fund industries in their retooling and modernisation exercises.Speaking during a buyers an...

By Staff reporter | Published: 26 April 2019


Poverty index to guide devolution funding

GOVERNMENT will use the poverty index to prioritise disbursement of funds to facilitate development at local level in line with the devolution drive, Finance and Economic Development Minister, Profess...

By Staff reporter | Published: 26 April 2019


Zimbabwe retailers appeal for distress fund

Retailers have called on Government to establish a distress fund that will help re-capacitate and restock businesses that fell victim to the looting and vandalism that took place during last week's vi...

By Staff reporter | Published: 25 January 2019


Mthuli Ncube to set up sovereign wealth fund

Finance and Economic Development minister Mthuli Ncube has proposed setting up a sovereign wealth fund (SWF) to help boost economic growth, but the plan is being hampered by a critical funding shortfa...

By Staff reporter | Published: 20 December 2018


Vast Resources well-funded for projects

AIM - listed diversified miner, Vast Resources, says it is "well-funded" to implement its various projects going forward, including its Zimbabwean projects, the Eureka Gold Mine and the Heritage Conce...

By Staff reporter | Published: 11 December 2018


Which fundamentals require attention?

There is a real sense of despair in the country. Perhaps it is a left over from the heady days when we celebrated the final departure of former President Robert Mugabe from office and welcomed a 'new'...

By Eddie Cross | Published: 10 December 2018


Mnangagwa to recover looted Zinara funds

Government will recover all the money looted from the Zimbabwe National Road Administration (Zinara), President Emmerson Mnangagwa has said. An audit report by Grant Thornton unearthed massive looting...

By Staff reporter | Published: 05 December 2018


Funding for Zimbabwe's new Parliament questioned

Zimbabwe is set to receive $165 million of Chinese aid for the full construction of a new Parliament building in Mt Hampden, yet Finance minister Mthuli Ncube has allocated $3,8 million in the 2019 Na...

By Staff reporter | Published: 03 December 2018


Zimbabwe seeks funds to improve power infrastructure

Zimbabwe requires $1,2 billion to finance new power projects and repair ageing infrastructure, a report by the African Development Bank (AfDB) has shown.Several of the country's thermal power stations...

By Staff reporter | Published: 02 December 2018


Zimbabwe may lose out on Chinese funds

China, a comprehensive strategic partner of Zimbabwe, feels its debt stricken ally has moved slowly towards seizing funding opportunities Beijing pledged at this year's Forum for China-Africa Co-opera...

By Business Weekly | Published: 30 November 2018


New funding model for Zimbabwe agriculture

Zimbabwe is prepared to provide guarantees to banks that will be financing agriculture to help plug the funding gap to the sector, according to Finance and Economic Development Minister Mthuli Ncube. ...

By Business Weekly | Published: 30 November 2018


Govt mulls tourism fund

Government is mulling setting up a tourism revolving fund to support players in the sector to access credit facilities to boost big projects, Environment, Tourism and Hospitality Industry Minister Pri...

By Staff reporter | Published: 28 November 2018


Mupfumira warns parastatal bosses over abuse of funds

ENVIRONMENT, Tourism and Hospitality Industry minister Prisca Mupfumira has warned parastatals under her ministry to desist from corrupt tendencies that have crippled most parastatals and State-owned ...

By Staff reporter | Published: 27 November 2018


NatPharm mulls requesting Health Levy Fund in forex

THE National Pharmaceutical Company (NatPharm) is considering requesting Government to avail the Health Levy Fund (HLF) in foreign currency to make the procurement of medical drugs hassle-free. Speaki...

By Staff reporter | Published: 22 November 2018


Funding for ailing companies

GOVERNMENT is set to avail funding to support ailing companies in the 2019 national budget to be announced this week and firms should formulate strategic value chains for effective growth, a Cabinet M...

By Staff reporter | Published: 20 November 2018


International airlines raise red flag over funds

INTERNATIONAL airlines operating in Zimbabwe are reportedly contemplating cancelling their routes after failing to recover a cumulative more than $130 million repatriation funds they are owed by the c...

By Staff reporter | Published: 27 September 2018


Mthuli Ncube sweats over funding

NEWLY-MINTED Finance minister Mthuli Ncube this week set sail for the United States, together with President Emmerson Mnangagwa, for the United Nations General Assembly in New York where he will engag...

By Staff reporter | Published: 21 September 2018


Zimra ordered to refund Zimplats $9,5m

ZIMBABWE Revenue Authority (ZIMRA) has been caught on the wrong side of the law in collecting revenue and the High Court has ordered it to pay back $9,5 million it unlawfully garnished from a local mi...

By Staff reporter | Published: 17 September 2018


RBZ creating artificial money to fund gold exports

THE Reserve Bank of Zimbabwe (RBZ) plans to flood the banking system with more transferable balances created through real time gross settlement (RTGS) intended to support gold exporters in a desperate...

By Staff reporter | Published: 13 September 2018


Low uptake for tourism fund

THE $15 million Tourism Revival Fund facility availed by the Reserve Bank of Zimbabwe (RBZ) to prop up the collapsing industry has been lying idle for about seven months with only three industry's pla...

By Staff reporter | Published: 09 September 2018


Mujuru tells candidates to fund their campaigns

People's Rainbow Coalition (PRC) presidential candidate Joice Mujuru has ordered her council and parliamentary candidates to fund their own campaigns ahead of next weeks' elections.In correspondence t...

By Staff reporter | Published: 27 July 2018

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