© ON March 20 this year, former Energy minister Joram Gumbo announced a new board for Zesa Holdings, the power utility. Its brief was to oversee the re-bundling of the power utility, fight corruption and improve power supply. [GoogleAd] Less than 90 days into the its tenure, Gumbo’s successor Fortune Chasi has dissolved the board,…
© AT what point should Zimbabwe have its own currency? This is the million dollar question and the answers do not come easy. [GoogleAd] There are, however, a few things that are not in dispute. First, it is not disputed that the country should at one point have its own currency. Secondly, there is common…
© WHEN President Emmerson Mnangagwa appointed Mthuli Ncube as Finance minister in September last year, the Zanu PF leader received plaudits for entrusting the country’s economic revival in the hands of a respected technocrat. [GoogleAd] Business executives and ordinary people alike endorsed the holder of a PHD in mathematical finance from Cambridge University and a…
© LOCAL authorities are contemplating charging for services in a manner that reflects the prevailing exchange rate on the interbank market. [GoogleAd] Urban Councils Association president Josiah Makombe told the Daily News on Sunday that they will only be sure of the direction to be taken once they have consulted ratepayers. “Our billing will have…
© ARISTON Holdings (Ariston) says its revenue for the six months ended March 31, 2019 went up by 50 percent compared to prior period despite the disturbances caused by Cyclone Idai. [GoogleAd] The group’s revenue for the half year was $7,96 million, up from $5,31 million realised during the comparative period. “Revenue growth was driven…
© BINDURA Nickel Corporation (BNC) says its results for the year ended March 31, 2019 will be delayed due to adjustments, which the company made following recent monetary reforms in Zimbabwe. [GoogleAd] In February, the governor of the central bank introduced new measures through a Monetary Policy Statement and in a Government Gazette Extraordinary that…
© SEEDCO Holdings (SeedCo), one of Africa’s largest seed producers, says it recorded $91million profit after tax in the 12 months to March 2019 up from $21,4 million in 2018. [GoogleAd] SeedCo chief executive Morgan Nzwere yesterday attributed the increase in profits to a rise in revenue, interest from government savings bond and share…
© ZIMPLOW says group operating profit for the five months to May 2019 grew 784 percent to $13,4 million compared to same period last year, driven by growth in volumes and impact of exchange rate movements. Vimbai Nyakudya, the group’s chief executive officer, told shareholders at an annual general meeting that foreign-denominated assets such as…
© THE National Social Security Authority (Nssa) says June payments to some pensioners have been delayed due to the suspension of services by payment service vendor Paynet Zimbabwe (Paynet). The payment service provider, which is a subsidiary of AIM-listed investment firm Cambria, says it suspended services to Zimbabwean banks because they owe US$470 000. [GoogleAd]…
© GOVERNMENT has approved the establishment of four gold centres around the country to increase gold deliveries to Fidelity Printers and Refiners (FPR). [GoogleAd] This comes as government has set a gold production target of 40 tonnes for 2019 after FPR last year collected 33 tonnes. And even though monthly deliveries have been ticking…
