© THE government’s ambition to achieve a US$12 billion mining industry by 2023 is feasible only if tangible operating and business reforms are swiftly undertaken, says mining and economic experts. [GoogleAd] Launching the extractive industry roadmap to 2023 in the capital about a fortnight ago, the Mines and Mining Development ministry said mining revenues would…
© ENERGY minister Fortune Chasi says government is moving to scrap non-performing Independent Power Producers’ (IPP) licences due to speculative tendencies in the space. Zimbabwe has licensed more than 70 private players to invest in power generation, amid serious power supply shortages in the country. [GoogleAd] Speaking at The Financial Gazette’s inaugural Annual Energy Innovations…
© GREAT Dyke Investments (GDI) is set to wrap up financing for its Darwendale platinum group metals (PGM) project and bring it to con- struction phase from the first quarter of 2020. The Darwendale project assumes an integrated development of one of the world’s largest untapped platinum group metal deposits in the country. [GoogleAd] The…
© FINANCE minister Mthuli Ncube has sensationally claimed that Zimbabwe is now competitive on international markets following the adoption of the mono-currency and other fiscal policies by government. Zimbabwe’s competitiveness, which includes the country’s levels of production, ac- cording to Ncube, dropped by over 50 percent after the adoption of the strong US dollar in…
© SOUTH African businessman Zunaid Moti says he “makes no bones” about his support for Botswana opposition leader Duma Boko, but he has no political interests nor role in Zimbabwe. This comes after an audio alleging that the controversial merchant was conniving with the Umbrella for Democratic Change kingpin and local politicians to destabilise Harare…
© FINANCE minister Mthuli Ncube says government is working hard to address the cash crisis. Zimbabwe has nearly $15 billion in broad money supply, but has less than $700 million cash in circulation, resulting in most banks limiting withdrawals to about $100 per week. “When we moved to a mono currency system, naturally the role…
© FOREST estates and saw-milling company Border Timbers (Border) says its lumber production for the year to June 2019 was significantly affected by Cyclone Idai as well as power outages. The company, which is currently under judicial management, produced 68 896 cubic metres of timber during the period, down from 89 140 cubic metres in…
© JET Stores, a unit of Edgars Stores Limited, has expanded its branch network to 26 after opening a new retail outlet in Banket. The fashion retailer said plans are underway to increase further the retail chain’s footprint following the rebranding from Express Stores in 2013. “Growth is engraved in Jet and serving the communities…
© THE Zimbabwe Revenue Authority (Zimra) says it collected $6,59 billion in taxes in the third quarter to September 2019, surpassing the $6 billion target due to inflation and the agency’s voluntary compliance and enforcement strategies. The national tax collector’s revenue for the period under review is a significant increase from $1,28 billion collected in…
© THE World Bank says Zimbabwe’s inflation has remained sky high due to weak policies and institutional frameworks. [GoogleAd] The country is struggling with high inflation, said to be hovering over 600 percent — the second highest in the world — as prices of basic commodities continue to skyrocket. In a recent Africa’s Pulse…
