Business

Tapiwa ChirumeSTAFF WRITER AUTHORITIES have scrapped the 17-year-old road access fee to reduce business costs and stop charging foreign-registered vehicles twice for road usage.Introduced in 2009, the fee was collected from foreign-registered vehicles entering Zimbabwe through border posts, with light motor vehicles paying US$10 per entry, while larger commercial vehicles paid higher charges depending on…

Tapiwa Chirume ZIMBABWE’S 2026 auction tobacco sales will officially end on Friday, with mop-up trading scheduled for early August while contract deliver­ies remain ongoing. The Tobacco Industry and Marketing Board (TIMB) confirmed the dates, reassuring farmers with leftover crop that avenues remained open to offload their yield. “All auction floors will officially close on Friday,…

KUDZANAI GEREDE G THE People’s Own Savings Bank (POSB) has remitted a record US$5,14 million dividend payout to its shareholder, the Mutapa Investment Fund (MIF), following a strong financial performance during the year ended December 31, 2025.During the year under review, the state-owned lender raked in US$54,15 million in revenue driven by strong customer acquisition…

MASVINGO City Council has procured US$1.2 million worth of heavy-duty machinery to accelerate road construction and fast-track relocating the city’s dumpsite.Speaking to the Daily News On Sunday yesterday, Masvingo mayor Aleck Tabe said the investment demonstrates the local authority’s commitment to modernising operations and delivering quality services more efficiently.“The acquisition of this state-of-the-art equipment is…

BIGHTON MURONZEREYI ZIMBABWE has secured admission as a borrowing member of the BRICS New Development Bank, unlocking vital alternative sources of long-term international development financing.In a statement yesterday, the minister of Finance, Mthuli Ncube, said the country’s admission provides an alternative source of development financing for economic growth.“Government wishes to advise that the Republic of…

Tapiwa Chirume HARARE will commission the Darwendale Pump Station next week, boosting capital water production from 350 to 520 megalitres daily to ease shortages.The commissioning follows the completion of major rehabilitation works at the Darwendale Dam Water Intake, where engineers were carrying out final mechanical and electrical tests ahead of bringing the upgraded facility into…

STAFF WRITER FIRST Capital Bank (FCB) has rolled out its 2026 Strategic Client Road Show, a nationwide stakeholder engagement initiative designed to translate its “Customer First” strategy into direct community action.The 18-day flagship programme sees the financial institution’s senior leadership travelling across 13 cities to engage clients, business partners, and community leaders.Combining executive visibility, media…

Brighton MuronzereyiCHIEF WRITER ZIMBABWE’S 2026 tobacco marketing season has generated over US$882 million after growers sold 353,8 million kilogrammes, as the selling period enters its final stages.In a statement yesterday, the Tobacco Industry and Marketing Board (TIMB) said that as of July 17, growers had sold 353 813 565 kilogrammes of tobacco valued at US$882…

Tapiwa ChirumeSTAFF WRITER THE Victoria Falls Rainforest has reopened following a temporary closure caused by two elephants entering the protected site, with authorities declaring the area safe.The iconic tourist attraction was closed for about two and a half hours on Tuesday as Zimbabwe Parks and Wildlife Authority (ZimParks) rangers monitored the elephants’ movements and safely…

Hazel MarimbizaIN BULAWAYO AUTHORITIES have implored tourism operators to capitalise on Air Zimbabwe’s restored Harare–London route by developing competitive travel packages to boost international visitor arrivals.Speaking during consultations on the National Tourism Sector Strategy (NTSS) 2026-2030 in Bulawayo yesterday, the permanent secretary in the ministry of Tourism and Hospitality Industry, Takaruza Munyanyiwa, said the resumption…