HARARE – Zimbabwe Energy Regulatory Authority (Zera) says it is set to establish a pool of agents to sell prepaid electricity meters. Prepaid meters have recently been in high demand after Zesa Holdings (Zesa) began to bill consumers using the prepayment model, which has been vital for controlling defaults. Zesa was at one time owed…
HARARE – The Insurance and Pensions Commission (Ipec), is closely monitoring three under-capitalised life assurance firms — Evolution Life, Heritage and Fidelity Life — after the assurers closed the third quarter of 2018 below the regulatory $5 million capitalisation threshold. In its third quarter 2018 report, Ipec said the players were required to furnish the…
HARARE – Finance minister Mthuli Ncube has announced names of the foreign currency (forex) allocation committee in line with his 2019 National Budget statement. The nine-member committee will be co-chaired by senior officials from the Finance ministry and the Reserve Bank of Zimbabwe (RBZ). It comprises A. Chikondo (from the Office of the President and…
HARARE – A phoenix is believed “to be a unique bird that lived for five or six centuries in the Arabian desert, after this time burning itself on a funeral pyre and rising from the ashes with renewed youth to live through another cycle”. Companies that are wound up and then resurrected through formation of…
BULAWAYO – Liberation Mining (Private) Limited in Gwayi area has been dragged to court by a Harare-based engineering firm for allegedly failing to settle over US$34 400 owed in earthmoving equipment hire. The coal mining company was established in 2006 by three Zimbabweans, Peter Mutsinya, Rainor Robinson and Gavin Von Platen who entered into a…
HARARE – It is not a secret that I am not a fan of the current government’s economic policies and choices. I especially find it reprehensible that they continue to avoid solving the prevailing currency crisis choosing to focus instead on bizarre projects such as building a new capital city- talk about fiddling while Rome…
HARARE – In spite of a crippling foreign currency crisis ravaging the Zimbabwean economy, locals are finding the hard currency to buy real estate in South Africa. Interestingly, when it comes to splurging on property down South, Zimbabweans are in the same league as nationals from the United Kingdom, Germany, Botswana, Portugal, the United States,…
HARARE – Zimbabwe can win one of five UN Security Council seats up for election in the next two years, President Emmerson Mnangagwa’s spokesman has said, although analysts doubted the southern African country would win approval by two-thirds of the world body’s General Assembly members to secure a term. The General Assembly has just elected…
HARARE – Local firm West Property Company (WPC) has unveiled a multi-million- dollar housing project in the leafy northern suburbs as part of complementing government on its five-year National Development Programme which seeks to provide decent housing to the populace. WPC developed Harare’s middle density Mainways Meadows and Kuwadzana Phase Four suburbs among an impressive…
HARARE – Diversified construction, infrastructure and agricultural equipment manufacturer and distributor Zimplow Holdings has appointed Vimbayi Nyakudya as the company’s new CEO. In a press statement, Zimplow secretary general Maxwell Chinorwadza said Nyakudya’s appointment is effective today. “As the group CFO, Nyakudya has played a key role in managing the Group’s balance sheet, allocating capital…
