HARARE – Zimbabwe’s former Finance minister Tendai Biti says government must revise downwards its 6,2 percent 2014 economic growth target to 1,2 percent on the back of depressed revenue inflows. He said government’s revenue collections were inconsistent with its projected target, adding that the economy was in a poor state. “There is a serious downward…
HARARE – Listed supermarkets chain OK Zimbabwe (OK) plans to spend $16 million in capital expenditure this year, targeted mainly at refurbishments and establishment of bakeries. It intends to renovate six of its retail outlets and open up in-house bakeries, a move resulting in the termination of its deal with Innscor. Innscor was running bakeries…
HARARE – Distressed stationery and battery maker Amalgamated Regional Trading (ART) incurred a $1,2 million loss in the half year March 2014 compared to $286 000 profit realised in prior comparable period. During the period under review, revenue went down 7,5 percent to $14 million from $15,2 million. The group said the depressed performance was…
HARARE – Hard-pressed Starafrica Corporation (Starafrica) is struggling to find buyers for its Tongaat Hulett Botswana (Tongaat) stake and transport subsidiary Bluestar Logistics. The group was ordered by the High Court in August last year, under a scheme of arrangement, to dispose the investments within six months. Proceeds from the sale were to be channelled…
HARARE – Today, is a crucial day in the political life of Information, Media and Broadcasting Services minister Jonathan Moyo (pictured) who faces his possible Waterloo following outbursts by President Robert Mugabe describing him as “devil incarnate” who had joined Zanu PF to destroy it from within. Mugabe said Zanu PF did not need elements…
HARARE – While other apostolic churches in Harare’s Budiriro suburb conducted their church services as usual on both Friday and Sunday, members of Madzibaba Ishamea Mufani’s Johanne Masowe sect, who attacked police officers a couple of weeks ago, were nowhere to be seen. A visit to the shrine by the Daily News yesterday revealed that…
HARARE – Media and political analysts have waded into the controversy surrounding the savage and brutal attack on the minister of Information, Media and Broadcasting Services, Jonathan Moyo by President Robert Mugabe over among other issues, the appointment of new editors at the State-run Zimpapers. Mugabe claimed during the funeral of national hero, Nathan Shamuyarira…
HARARE – Health minister David Parirenyatwa has revealed that at least 60 percent of school-going children in Mashonaland Central Province have bilharzia. Parirenyatwa said the statistics are too high hence government has already begun carrying out a mass-drug administration in the province. “We have heard that out of every 100 school-going children here, 60 have…
HARARE – President Robert Mugabe’s withering attack on Information, Media and Broadcasting Services minister Jonathan Moyo is a show of power by Zimbabwe’s long-ruling leader. By throwing Moyo to the wolves in such a public and humiliating manner, Mugabe has reminded all and sundry that he is in firm control of the levers of power…
HARARE – As Zimbabwe continues to struggle with securing funding for the development of its infrastructure projects due to high country political risk, the Denmark International Development Agency (Danida) is set to inject $95 million into the country. This comes as Denmark, which closed its embassy in Zimbabwe in 2002 and re-established its diplomatic presence…
