BUSINESS NEWS

Bulawayo Power station ownership transferred illegally without council knowledge

THE dispute between the Bulawayo City Council and the Zimbabwe Power Company over the ownership of the Bulawayo Power Station has taken a dramatic twist after it emerged that title deeds to the disput...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

White farmers compensation to be done before year end

THE Government has started working on modalities to compensate former white commercial farmers who lost land during the country's agrarian reform programme on improvements they made on the farms with ...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

Strong investment appetite for Zimbabwe

Zimbabwe has elicited strong investor interest over the first quarter of the year, with investments worth over US$286 million having been approved by the Zimbabwe Investment Authority (ZIA).Total inve...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

Chatunga's advisor' speaks out

What is Entertainment Republic? Who is Max Mugaba? And what is their relationship to former president Robert Mugabe's "play boys" Chatunga Bellarmine and Robert Jr?The ownership of the local entertain...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

Brexit no deal could cost Zimbabwe US$4,6 million

ZIMBABWE stands to lose at least 5% of its yearly exports to the United Kingdom in the case of Britain leaving the European Union without a deal, a new United Nations agency report has shown.According...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

Mnangagwa takes on bread cartels

THE Government has moved to break the monopoly in the bread industry through resuscitation of indigenous bakeries that used to operate in various communities, a Cabinet Minister said.In his independen...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

Local currency long overdue, analysts

The current uptake of about 85 percent in transactions using the local RTGS systems is a clear sign Zimbabwe is now nearing the stage where it might be convenient to introduce a new local currency.Eco...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

Dr Mangudya's reappointment welcome

The reappointment of Dr John Mangudya by President Emmerson Mnangagwa for a second five-year term as Governor of the Reserve Bank of Zimbabwe, and thus the custodian of the national monetary policy, w...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

Zida to replace ZIA

THE Zimbabwe Investment and Development Agency (Zida) Bill, a major component of the government's "ease of doing business" reforms to attract both foreign and domestic investors will replace, and take...

By Staff reporter | Published: 04 May 2019

BUSINESS NEWS

Mnangagwa's govt clueless on economy

PRESIDENT Emmerson Mnangagwa's administration looks increasingly clueless on how to contain consequences of its disastrous economic policies introduced by Finance minister Mthuli Ncube through the Tra...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

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

BUSINESS NEWS

Mine, farm workers least paid: Zela

Most mining and agriculture sector workers are among the least-paid despite working under hazardous conditions that threaten their lives and health, the Zimbabwe Environmental Law Association (Zela) h...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Zimra finalising fiscalisation project

Zimbabwe's tax agency says it is concluding implementation of its fiscalisation programme and that it will undertake the exercise without affecting business.The fiscalisation programme, which is aimed...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

GMB ex-employees turn on their lawyer

Former Grain Marketing Board (GMB) workers are at loggerheads with the lawyer who represented them after they were sacked on three months' notice in 2015 following the landmark Supreme Court ruling.Th...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Harare offers workers 5% pay cushion

Harare City Council has opened talks with its workers for a cost of living adjustment following a recent spate of price hikes that have eroded workers' incomes.Minutes of the council's joint finance a...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Tripartite negotiating forum establishment to address workers' plight

LABOUR and Social Welfare minister Sekai Nzenza says the establishment of a tripartite negotiating forum (TNF) would assist in addressing the plight of workers and in solving the economic crisis.Addre...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

'Zimbabwe should diversify its exports'

ZIMBABWE needs to urgently diversify its exports as a strategy to narrow the trade deficit and widen opportunities for increased foreign currency earnings, ZimTrade chief executive officer, Mr Allan M...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Embrace the 'ease of doing business' concept

Local authorities here have been challenged to embrace the "ease of doing business" concept to enhance the achievement of a middle-income economy in line with the Government's Vision 2030. Speaking on...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Lenox Mine ownership wrangle deepens

TWO Flags Trading (Private) Limited is the legitimate owner of the gold-rich Lennox Mine in Mashava and various contestations by the rival Tambanashe Enterprises were a mere waste of the court's time,...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Mthuli Ncube says 'TSP reforms led to growth'

Implementation of reforms under the Transitional Stabilisation Programme (TSP) has averted the economy from being weakened by adverse exogenous factors, Finance and Economic Development Minister Profe...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

US opens $300m embassy in Zimbabwe

The United States of America opened its US$292 million embassy compound in Harare, a structural behemoth believed to be one its largest embassies in Africa and beyond. US Ambassador to Zimbabwe Brian ...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Mnangagwa's govt cashes in big on fuel excise duty

THE Zimbabwe Revenue Authority (Zimra) says exercise duty collections more than doubled during the first quarter of 2019 compared to the same period last year after government hiked duty for fuel in J...

By Staff reporter | Published: 02 May 2019

BUSINESS NEWS

Mystery over Mangudya's new contract'

The fate of Reserve Bank of Zimbabwe (RBZ) governor John Mangudya's stay in office remains a mystery after his first term lapsed on Tuesday amid indications that government is yet to extend his contra...

By Staff reporter | Published: 02 May 2019

BUSINESS NEWS

Cost of dying goes up in Zimbabwe

A NEW wave of price increases has seen hard-pressed Zimbabweans grappling with counting the cost of dying.Funeral insurance companies, hit by a failing local currency, have joined the bandwagon by inc...

By Staff reporter | Published: 02 May 2019

BUSINESS NEWS

Chamisa brags about the Zuva case which triggered a bloodbath in industry

OPPOSITION MDC leader Nelson Chamisa has at last been forced to respond to accusations he was anti-labour after his role in the infamous Zuva case in 2015 that triggered thousands of job losses.Chamis...

By Staff reporter | Published: 02 May 2019
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