Business

Innscor pays employee trust US$500K dividend

DIVERSIFIED investment group, Innscor Africa Limited, handed over US$453 588 to the Innscor Africa Employee Share Trust after recording solid profit and revenue outturn for the financial year ended June 2022. The Zimbabwe Stock Exchange listed group has subsidiaries, which includes Probrands, Natpak, National Foods, Irvine’s, Colcom, AMP and Mill Bake, among others. Speaking at…

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Government to expedite health insurance scheme

ZIMBABWE is considering hastening the implementation of a national health insurance policy that will aid in the provision of cheaper medical services, a cabinet minister said yesterday. Finance and Economic Development minister Mthuli Ncube, pictured, told a post-budget review seminar in Harare that the country might review upwards excise tax in order to fund the…

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Chamisa meets his defiant MPs… as CCC row over US$40k housing loans boils over

THE row over Parliament’s controversial US$40 000 housing loans to legislators is escalating within the Citizens Coalition for Change (CCC), which will hold a crunch meeting in Harare today between party leader Nelson Chamisa, pictured, and the defiant MPs. Several party legislators who met Chamisa on Friday told the Daily News yesterday that the CCC…

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RBZ to maintain tight measures

By Brandon Josphat THE Reserve Bank of Zimbabwe says it will maintain tight monetary measures and will only review them in the first quarter of 2023, in order to control inflation and enhance economic stability. In a statement yesterday, RBZ governor John Mangudya said the central bank’s monetary policy committee resolved last week to maintain…

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Probe HCC, police: Sacu

By Blessings Mashaya THE Special Anti-Corruption Commission (Sacu) has directed the Criminal Investigations Department (CID) to investigate possible corruption by Harare City Council (HCC) officials and some police officers over land ownership in Mufakose. The directive came after the Youth in Business Housing Trust, which developed residential stands on Lot 2 Subdivision B of Subdivision…

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Import your own power, industry told

By Brandon Josphat AUTHORITIES have given industry the green light to begin negotiating and importing electricity from regional countries in order to keep the sector running during the country’s worsening power outages. This comes after the country is facing severe daily 15-hour load shedding because Zesa is failing to meet the demand for electricity. Speaking…

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Forget about ED parley: CCC told . . . Charamba says Mnangagwa now focused on 2023 polls

ALTHOUGH Citizens Coalition for Change (CCC) bigwigs remain keen to meet with President Emmerson Mnangagwa ahead of the 2023 national elections, this is not likely to happen, presidential spokesperson George Charamba has said. Speaking to the Daily News yesterday, Charamba said the window of opportunity for such a meeting had passed, and Mnangagwa was now…

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Zanu PF 3, CCC 2

By Brandon Josphatjosphatbl@dailynews.co.zw ZANU PF won three of the five council by-elections that were held in Midlands and Matabeleland North provinces over the weekend. According to the results released yesterday by the Zimbabwe Electoral Commission (Zec), in Binga ward 20, Liyando Muleya of Zanu PF got 945 and Crispen Munkuli of CCC got 546.In ward…

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US$20m shot in the arm for irrigation farmers

By Regis Chingawo GOVERNMENT is set to disburse US$20 million to empower smallholder irrigation schemes across the country’s eight rural provinces starting January next year. Finance and Economic Development Mthuli Ncube at the weekend said in addition the government had received US$30 million from the International Monetary Fund (IMF) that would assist farmers to start…

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