HARARE – Transport minister Joram Gumbo has come under fire from various stakeholders in the economy for failing to transform parastatals under his portfolio and develop critical infrastructure in the country. The Zanu PF legislator was appointed to the key ministry in September 2015, with the specific mandate of reviving Air Zimbabwe, National Railways of…
HARARE – An ugly fight has erupted among top executives at agro-industrial firm Cottco Holdings over a contentious sell of lint to a local merchant that overseas buyers had allegedly paid for in advance. The tussle involves managing director Pious Manamike on the one side, and head of operations Maxmore Njani and head of corporate…
HARARE – Zimbabwe Consolidated Diamond Mining Company (ZCDC) – a wholly-owned State enterprise formed after the merger of seven miners in the country’s gem-rich Chiadzwa fields – is planning a $20 million investment this year after nearly doubling production in 2018’s first quarter. The miner produced 751,303 carats during the quarter, 80 percent above previous…
HARARE – The Development Bank of Southern Africa (DBSA) is set to inject over $190 million towards the construction of a new power transmission line linking Mozambique, Zimbabwe and South Africa (MoZiSa). The support by DBSA is through the Sadc Project Preparation and Development Facility (PPDF), which is funded by the European Union (EU) through…
HARARE – FBC Holdings chief executive John Mushayavanhu says banks’ acceptance of 99-year leases as collateral does not serve as a guarantee of funding to the holders. Mushayavanhu pointed out that 99-year leases are no guarantee for funding and farmers should take into account individual bank’s lending processes which consider other things apart from collateral…
HARARE – The value of transactions processed through the National Payment System (NPS) for the week ending March 9 declined to $1,83 billion from $1,93 billion the previous week due to a decline in electronic transactions during the week under review. In a weekly economic highlights report, the Reserve Bank of Zimbabwe (RBZ) said Real…
HARARE – As the drama at the National Social Security Authority (Nssa) continues to unfold, a former employee at the pay-as-you-go pension scheme is likely to bounce back to take up Liz Chitiga’s job of chief executive officer (CEO), the Daily News can report. Insiders at the Public Service ministry told the Daily News over…
HARARE – Justice, Parliamentary and Legal Affairs minister Ziyambi Ziyambi, pictured, says government is determined to improve the ease of doing business as part of measures to resuscitate the country’s wobbling economy. Ziyambi, who was delivering a keynote address at a stakeholder workshop to review the Draft Companies and Other Business Entities Amendment Bill in…
HARARE – Labour and Social Welfare minister Petronella Kagonye has pulled a shocker by dismissing National Social Security Authority (Nssa) board chairperson, Robin Vela, with only three months left before the expiry of the term of office for the current board members. In a terse letter to Vela dated March 27, Kagonye said she had…
HARARE – Bikita Minerals is currently assaying rock samples for high-grade lithium concentrate (spodumene) reserves, which, if confirmed, will help turn the mine into a big money spinner. The world’s sole commercial petalite miner, which started off as Bikita Tinfields in 1910 before it was consolidated into a mining lease exploring petalite, currently majors in…
