BUSINESS NEWS

Delta's AB InBev places $120m unremitted dividends, fees into RBZ saving

The world's largest brewer Anheuser-Busch InBev (AB InBev) has agreed to place the over $120 million owed to it in unremitted dividends and fees by Delta Corporation into the Reserve Bank of Zimbabwe ...

By Staff reporter | Published: 11 January 2019

BUSINESS NEWS

Chiwenga slams use of social media to cause panic buying

ACTING President Constantino Chiwenga has castigated abuse of social media to cause panic buying of fuel and other basic commodities. Officiating at the launch of the second phase of the centre pivot ...

By Staff reporter | Published: 11 January 2019

BUSINESS NEWS

Zimbabwe companies to collapse in 30 days

MANY manufacturers could be forced to halt operations if government fails to arrest the crippling currency crisis within the next 10 days as most companies are left with less than a month's stock of r...

By Staff reporter | Published: 11 January 2019

BUSINESS NEWS

Zera seeks prepaid meter deals

Zimbabwe Energy Regulatory Authority (Zera) says it is set to establish a pool of agents to sell prepaid electricity meters.Prepaid meters have recently been in high demand after Zesa Holdings (Zesa) ...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Mangoma released on $1 000 bail

Former Minister of Energy Elton Mangoma, Zesa CEO Joshua Chifamba and Managing Director of Zesa Enterprises Mr Tererai Mutasa, have appeared in court facing fresh charges of criminal abuse of office. ...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Miners want to import own fuel

ZIMBABWE Miners Federation (ZMF), the representative body of small-scale miners, says it is pushing for a licence to import fuel for onward distribution to its members to ensure continuity of producti...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Multichoice Zimbabwe boss dies

Multichoice Zimbabwe chief executive Lovemore Mangwende has died, the company announced yesterday.In a statement, Multichoice said the circumstances around Mangwende's death were unclear."It is with d...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Civil servants plead poverty

TEACHERS yesterday said they were too poor to go back to work as schools open countrywide today, piling pressure on President Emmerson Mnangagwa to solve the worsening economic crisis.This came as tal...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Bond notes unsustainable, fuel inflation, claims Fitch

Fitch Solutions, the macro-economic arm of global rating agency says Zimbabwe's currency regime is highly unsustainable and will continue to fuel inflationary pressures going forward.In 2009, the sout...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Natfoods re-opens Mutare milling plant

National Foods Limited will this week re-open its Mutare maize milling plant as it seeks to meet the growing demand of maize meal, a senior official said yesterday. The plant with capacity to mill 9 4...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Zimbabwe wheat stuck in Mozambique

Aconsignment of 30 000 metric tonnes of wheat which was sourced from Lithuania by the Grain Millers' Association of Zimbabwe (GMAZ) is stuck at Beira port in Mozambique after the Reserve Bank of Zimba...

By Staff reporter | Published: 06 January 2019

BUSINESS NEWS

Valueless bond notes, the source of Zimbabwe's problems, say analysts

GOVERNMENT'S promise to avail foreign currency to the country's largest beverages manufacturer, Delta Corporation, to avoid forex pricing is not sustainable, analysts have said.Delta last Wednesday an...

By Staff reporter | Published: 06 January 2019

BUSINESS NEWS

AfDB urges reforms

DEEP structural reforms such as transparency in the mining sector and respect for property rights could improve Zimbabwe's business climate, attract private investment and see the return of skilled la...

By Staff reporter | Published: 06 January 2019

BUSINESS NEWS

Junior doctors say no to 'new' deal

Striking junior doctors last night rejected a deal that was signed between government and Apex team leaders which could have seen an end to the month-long industrial action saying they did not agree t...

By Staff reporter | Published: 06 January 2019

BUSINESS NEWS

Job losses spike as economy deteriorates

POOR government policies have led to the escalation of the country's economic crisis with an estimated 13 000 people in the western region losing their jobs in the past 12 months, a labour official ha...

By Staff reporter | Published: 06 January 2019

BUSINESS NEWS

Unregulated, unregistered medicines flooding into Zimbabwe

Unregulated and unregistered medicines are reportedly flooding into Zimbabwe, with consignments of expired medicines being smuggled into the country through the country's porous border posts.Syndicate...

By African News Agency | Published: 06 January 2019

BUSINESS NEWS

Zimra top brass in smuggling racket

THE Zimbabwe Revenue Authority (Zimra) 10 top managers have been named in an alleged $3 million cooking oil and chicken smuggling racket, which was reportedly swept under the carpet.Documents gleaned ...

By Staff reporter | Published: 06 January 2019

BUSINESS NEWS

Harare's booming automotive market

Downtown Harare is an economic hub.Here, money arguably changes hands more than in any other part of the city.It is typically the Wall Street of the capital.Household goods, school uniforms, stationer...

By Staff reporter | Published: 06 January 2019

BUSINESS NEWS

Divisions rock striking Zimbabwe 'intern' doctors camp

DIVISIONS have rocked the country's public hospital doctors camp following their conflicting Friday messages on the status of a five-week-long strike which was said to have been called off at the behe...

By newzimbabwe | Published: 04 January 2019

BUSINESS NEWS

Gono pursues power-generation

A company owned by former Reserve Bank of Zimbabwe governor Gideon Gono has applied for a licence to operate a 36 megawatt (MW) solar plant.According to the Zimbabwe Energy Regulatory Authority, TD En...

By Staff reporter | Published: 04 January 2019

BUSINESS NEWS

Labour unrest as teachers, nurses and senior doctors join strike

Zimbabwe has been plunged into a labour crisis of monumental proportions after senior doctors, nurses and teachers joined the ongoing strike by junior doctors which is now more than a month old.Nurses...

By Staff reporter | Published: 04 January 2019

BUSINESS NEWS

Bond notes under siege

The bond note is increasingly suffering rejection from the corporate sector after Delta Corporation Limited went public on Wednesday saying it will be selling its products in hard currency.Delta said ...

By Staff reporter | Published: 04 January 2019

BUSINESS NEWS

Consumers appeal for protection against wave of pricing in forex

THE Consumer Council of Zimbabwe (CCZ) has appealed for urgent Government intervention in protecting consumers against the tide of foreign currency pricing of goods and services at a time when a major...

By Staff reporter | Published: 04 January 2019

BUSINESS NEWS

Zimra to collect $6,2bn in 2019

The Zimbabwe Revenue Authority (Zimra) plans to collect $6,2 billion from taxes this year, representing about 76 percent of the $8,16 billion 2019 Budget. With Zimbabwe's gross domestic product (GDP)&...

By Staff reporter | Published: 04 January 2019

BUSINESS NEWS

Delta reverses forex decision

Delta Corporation has reversed a decision to sell its products in foreign currency after the Reserve Bank of Zimbabwe (RBZ) yesterday assured the beverage manufacturer it would provide the forex requi...

By Staff reporter | Published: 04 January 2019
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