HARARE – Our news editor Gift Phiri talks to Zimbabwe Tourism Authority CEO Karikoga Kaseke about the tourism spin-offs from the China State visit that he embarked on in a delegation led by President Emmerson Mnangagwa. Find below excerpts of the interview. Q: An online newspaper has reported that you said President Emmerson Mnangagwa was…
HARARE – Zimbabwe Stock Exchange (ZSE) foreign buys ballooned 1826,55 percent to $1,2 million from $64 186 on Thursday as non-Zimbabweans snapped up stocks on the local bourse following the Independence holiday. On Thursday, the primary All Share Index added a further 1,48 percent to end pegged at 94,61 points while, the Industrial Index put…
HARARE – The Confederation of Zimbabwe Retailers (CZR) has blamed price distortions on the existence of several de facto currencies in Zimbabwe. According to the CZR, which held its fourth annual Retailers and Wholesalers Indaba in Harare on Thursday, the de facto currencies being used in the country include treasury bills, EcoCash, Old Mutual shares…
HARARE – Southpole Consulting Private Limited (Southpole) has secured $300 million to construct a 125 megawatt (MW) solar power plant in Victoria Falls. SouthPole, which has made an application to the Zimbabwe Energy Regulatory Authority (Zera) said the project has primarily been conceived for self-consumption and, in particular, to supply power to the company’s data…
HARARE – Zimbabwe’s opposition could expand the size of the economy more than fivefold to $100 billion within eight years if it wins this year’s elections, a former Finance minister said. The first elected government since Robert Mugabe stepped down in late 2017 under pressure from the military will inherit an economy shattered by almost…
HARARE – Government is moving to operationalise the National Competitiveness Commission (NCC) that will probe the cost structures and pricing of basic commodities, Industry, Commerce and Enterprise Development minister Mike Bimha has said. He said the move is part of a strategy to identify cost drivers and other factors affecting Zimbabwean businesses. Bimha, who delivered…
HARARE – The Southern African Development Community (Sadc) has endorsed Zimbabwe’s Cosmas Zavazava who is vying for an International Telecommunications Union top post. The 57-year-old Zimbabwean, who is currently chief of department for projects and knowledge management in the Telecommunication Development Bureau of ITU, will battle it out with other candidates for the ITU director…
HARARE – Sugar producer Starafricacorporation has converted more than $46 million of its debt into equity as a way of cleaning the company’s balance sheet. This was after creditors saw it fit to convert their debt into ordinary shares in the struggling sugar company. “The aforementioned debt-to-equity conversion will result in 4 195 063 188…
HARARE – Anglo American Platinum has partnered Shell Technology Ventures (STV) in High-Yield Energy Technologies (HyET), a Dutch company that has developed electrochemical hydrogen compression (EHC) technology that will support the adoption of fuel cell electric vehicles (FCEVs). HyET’s technology is a more cost-effective and reliable substitute for mechanical hydrogen compression both in existing industrial…
HARARE – Excise duty was the highest contributor to Zimbabwe Revenue Authority (Zimra) collections for the first three months of 2018 after coming in at $233,3 million, 17,65 percent above target. Zimra chairperson Willia Bonyongwe said the tax head had contributed 21 percent to net collections of $1 billion closely followed by net Value Added…
