HARARE – Mines minister Walter Chidakwa has threatened to cancel mining licences of two coal miners, Monaf Investment (Monaf) and Appex Petroleum (Appex), due to non-performance. Chidakwa said government was not happy with lack of progress by the two coal miners which received grants seven years ago to mine coal in Lubu, Lasulu and Binga….
HARARE – The World Bank has forecasted that Zimbabwe will miss its ambitious 28-tonne gold production for this year, putting a dent on the country’s economic revival prospects. This comes as Zimbabwe, which produced 23 tonnes of the yellow metal and earned over $914 million in export receipts last year, is pinning its economic hopes…
HARARE – Finance minister Patrick Chinamasa said he is against the establishment of a Road Accident Fund (RAF), aimed at assisting road accident victims, as it will negatively affect insurance firms’ revenues and burden taxpayers. This comes as Transport minister Joram Gumbo has been pushing for the setting up of a RAF — in line…
HARARE – Zimbabwe has the potential to create a billion dollar economy by empowering its entrepreneurs and small to medium enterprises (SMEs), a local firm has said. Global Entrepreneurship Trust Club (GET Club) said SMEs play an important role in the world economy and contribute substantially to income, output and employment. “In Japan SMEs constitutes…
HARARE – The Auditor-General Midred Chiri (pictured)has warned about the ability of 15 State-owned enterprises to continue as a going concern. In her State Enterprises and Parastatals Report of 2016, the government auditor named Zesa Holdings (Zesa) and its subsidiaries; TelOne, Grain Marketing Board (GMB), National Railways of Zimbabwe (NRZ), Zimbabwe National Water Authority (Zinwa),…
HARARE – Zimbabwe National Roads Administration (Zinara) financial director Simon Taranhike has been suspended over a “currency trading scheme” at Infralink (Private) Limited (Infralink) – a joint venture firm with South Africa (SA)’s Group Five set up to manage the Plumtree-Mutare highway project. Albert Mugabe, the roads manager’s chairman, yesterday confirmed the development and said…
HARARE – Our Deputy Business Editor, Ndakaziva Majaka, talks to World Bank’s (WB) outgoing country manager, Camille Nuamah, whose tour of duty ran from June 2014. NUamah will be succeeded by WB’s sector manager for Urban Development and Services in East and Southern Africa, Rosemary Mukami Kariuki, who will take over from August 1, 2017….
HARARE – In this week’s instalment of Women on Top — a new column that celebrates women in top positions — our deputy business editor Ndakaziva Majaka caught up with State fixed phone operator TelOne’s managing director and seasoned manager, Chipo Mtasa. Mtasa attended Goromonzi High School before proceeding to the University of Zimbabwe where…
HARARE – Zimbabwe’s government-owned mobile firm NetOne has said it paid its former chief executive officer Reward Kangai $247 000 following the termination of his employment contract. Kangai was sent on forced leave in March 2016 after the company’s board sanctioned a forensic audit into the affairs of the country’s second largest mobile phone operator….
HARARE – Government is likely to regain its 23,5 percent stake in ZB Financial Holdings (ZBFH) after businessman Nicholas Vingirai threatened to pull out of the banking group due to shareholder disagreements. Market experts, however, said the divorce could have serious negative implications on the listed financial services group which is on a recovery path…
