© Padenga Holdings (Padenga), the Zimbabwe Stock Exchange-listed crocodile farmer, says it has completed construction on a further 470-kilowatt extension to its solar project in Kariba, which was initially commissioned last year. The company last year commissioned the first 330 kilowatts peak phase solar array in Kariba, which it says is now feeding into the…
© ZIMBABWE’s outlook for 2019 remains very uncertain as policy slippages by vested interests could block ongoing efforts to restore the economy, the International Monetary Fund (IMF) has said. The southern African country’s shrinking economy has been worsened by renewed fiscal and monetary pressures as well as the effects of Cyclone Idai. [GoogleAd] The global…
© WHEN Emmerson Mnangagwa took over the leadership of Zimbabwe from Robert Mugabe in November 2017, he promised to revive the moribund economy and adopted a mantra he’s repeated regularly ever since –— “Zimbabwe is open for business.” [GoogleAd] Mnangagwa, always wearing a scarf in the colours of the Zimbabwean flag, quickly set about traversing…
© THE Zimbabwe Coalition on Debt and Development (Zimcodd) has lambasted the government for prioritising former white farmers over national development. [GoogleAd] This was after Finance minister Mthuli Ncube last week said government had completed registration of 737 white farmers who will be paid compensation with immediate effect for losing land under former president Robert…
© CAMBRIA Africa Plc (Cambria) shares plummeted 20 percent on Friday and traded at 0,92 pence each after it reported a strong interim profit growth but warned of the perils ahead due to currency volatility in Zimbabwe. The company operates two units in Zimbabwe — Payserv and industrial equipment supplier Millchem. [GoogleAd] In the six…
© MIMOSA Mining corporate communications manager Elizabeth Nerwande-Chibanda, pictured, has made history by becoming the first female Chamber of Mines president. Nerwande-Chibanda was on Wednesday elected to lead Zimbabwe’s largest mining body at its annual general meeting in Victoria Falls. She will be deputised by Unki Mine’s chief financial officer Coleen Chibafa and Demand Gwatinetsa…
CIVIL servants salaries accounted for 68,4 percent of government’s expenditure during the first quarter of the year, latest figures revealed. Finance minister Mthuli Ncube said during the period under review, expenditures were managed and restricted to $1,5 billion, against a planned spending of $1,7 billion. [GoogleAd] This resulted in savings of $218,9 million, from reduced…
© TOURISM Business Council of Zimbabwe (TBCZ) president Winnie Muchanyuka says players in the hospitality industry are digging deep to remain afloat amidst serious economic challenges. Speaking at the TBCZ quarterly media and members briefing held in Harare recently, Muchanyuka said the country is going through a “time of great worry and concern for all…
© ZIMBABWE’S struggling businesses say the introduction of a two percent transaction tax last year aimed at including the informal market in the country’s tax bracket has become a burden on formal enterprise. [GoogeAd] Treasury introduced the Intermediated Money Transfer Tax in 2003. At the time, the tax was set at five cents per transaction….
© ZIMBABWE is becoming a political liability to the rest of the region reducing it to an economic and social basket case due to worsening economic fundamentals, an equities firm has said. FBC Securities said the southern African country has been affected by policy inconsistency resulting in declining investment inflows and general economic growth, worsening…
