HARARE – South Africa’s biggest cement maker, PPC, says it hopes to complete its $80 million plant in Zimbabwe in the next 12 months, in a development that is expected to reduce cement prices in the country. The company, which already runs two cement manufacturing plants at Cementside in Bulawayo and Colleen Bawn in Matabeleland…
HARARE – The Insurance and Pensions Commission (Ipec) says it has placed Altfin Insurance under its watchful eyes to protect policyholder values and interests. This was after Altfin registered a negative growth of 32 percent in the quarter to March 2016, followed by CBZ Life and Heritage which both recorded negative growth of 22 and…
HARARE – Zimbabwe’s worsening cash-crisis has resulted in a significant rise in mobile money transactions, latest central bank figures show. In its weekly update for the period to May 27, the Reserve Bank of Zimbabwe (RBZ) said while total National Payment Systems (NPS) transactions stood at 5,5 million 84,6 percent of these transactions had been…
HARARE – German car giant Volkswagen is poised to introduce what will be the most luxurious truck ever sold in Zimbabwe — complete with special seats designed to pamper drivers who have a bad back. The new flagship of the Volkswagen Amarok fleet, which will be priced close to $75 000 when it goes on…
HARARE – Given that Africa has entered the new millennium with very little improvement in the way it has been conducting its affairs over many years and the fact that the present systems and models of governance and leadership look most unlikely to produce radical changes that may lead to poverty being at the very…
HARARE – The current cash shortages must jolt President Robert Mugabe and his Zanu PF government into action to quickly adopt the South African rand to save the economy from total collapse. Instead of introducing the much-hated bond notes, which have induced all manner of trepidation in the public and rekindling 2008 déjà vu moments,…
BERLIN – Germany will not recognise polygamy or marriages involving minors, Justice Minister Heiko Maas has said. “No-one who comes here has the right to put his cultural values or religious beliefs above our law,” he told Bild. In some Islamic countries, men are allowed to take up to four wives, but in Germany polygamy…
HARARE – The succession wars ravaging Zanu PF are getting more intractable by the day, with war veterans rallying behind embattled Vice President Emmerson Mnangagwa saying defiantly yesterday that they were not losing any sleep over President Robert Mugabe’s ominous warning to them last week. The disaffected former freedom fighters, who are forcefully agitating for…
HARARE – Insurance giant, Old Mutual, has become the latest local prominent voice to observe that Zimbabwe’s supposed all-weather friend, China, is treading carefully about investing more in Zimbabwe, due to the country’s poor property rights record. Old Mutual’s observations came in the wake of China injecting nearly $20 billion into Sub-Saharan Africa’s economy in…
HARARE – Core Mining and Minerals director Lovemore Kurotwi has dragged Marange Resources before an arbitrator in a bid to recover his mining equipment being used in the Chiadzwa mining fields. The equipment worth millions of dollars was grabbed by the government-owned mining firm after a botched mining venture, which culminated in Kurotwi being accused…
