Work at RioZim’s $2,2 billion Sengwa thermal power plant has kicked off in earnest amid indications that at least four key feasibility studies are expected to be completed this month. [GoogleAd] RioZim has engaged PowerChina for the construction of the 2 000 megawatt (MW) thermal power station in Gokwe North, which has been in the pipeline…
Amalgamated Regional Trading Holdings (Art) says its turnover dropped by 20 percent during the five months to February due to political instability in the country. Zimbabwe experienced violence demonstrations in January over fuel price hikes and deteriorating economic situation, which left at least 12 people dead and hundreds others injured. [GoogleAd] Tension has been rising in…
Kimberly Process (KP) Civil Society Coalition has raised concern over non-disclosure of diamond contracts and revenues by government saying it punctures proper accountability. [GoogleAd] The KP Civil Society Coalition is an international organisation under the Kimberly Process which is committed to promote a conflict-free diamond global supply chain. The coalition’s global coordinator, Shamiso Mutisi, who is…
International economist and currency expert Steve Hanke says Zimbabwe’s inflation now sits at 266 percent following the Reserve Bank of Zimbabwe’s recently-announced monetary policy. [GoogleAd] Just two weeks ago, Hanke said the country’s inflation was pegged at 242 percent, hence a 24 percent jump to today. The John Hopkins University professor said government made a mistake…
Zimbawe’s agricultural sector needs massive retooling to increase production as it is still relying on antiquated equipment. Farming experts said as long as the situation remains like this, the sector’s capacity to produce more will be constrained, leading to an increase in the country’s import bill. [GoogleAd] A researcher at Sam Moyo African Institute of…
Zimbabwe is set to have another mega-plant that will be producing tiles and other related granite products, the Daily News can report. This comes after Surewin Investment (Pvt) Ltd which was granted the Special Economic Zone status last year is setting up a manufacturing plant for granite cutting and polishing in Mutoko. [GoogleAd] The plant…
There’s nothing surprising or fundamentally new about the monetary and currency reforms that the Reserve Bank of Zimbabwe (RBZ) introduced in the 2019 Monetary Policy Statement. [GoogleAd] I have restricted my focus to an interpretation of the monetary policy measures, unpacking the rationale and underlying policy objectives of the monetary measures, without looking at the…
GETBUCKS Microfinance Bank (Getbucks) recorded a 16 percent increase in profit to $3 million for the six months ended December 31, 2018 compared to a $2,578 million recorded in prior period. Rungano Mbire, the microfinance institution’s chairperson, said higher revenues are expected from loans driven by a larger loan book. [GoogleAd] “This result was achieved…
PETROTRADE acting chief executive officer Godfrey Ncube says the ISO 9001/2015 certification his company has just achieved will enhance the state-owned petroleum dealer’s capacity to become the preferred supplier of petroleum products in the country and in the region. [GoogleAd] Ncube made the remarks early this week after Petrotrade had transitioned from ISO 9001:2008 to…
HARARE – The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says it is reviewing proposals by Mobile Network Operators (MNOs) for a tariff hike in light of movement in the exchange rate as determined on the inter-bank market. [GoogleAd] Potraz acting director general Kennedy Dewera yesterday said following the country’s Monetary Policy Statement (MPS) — which…
