HARARE – Finance minister Patrick Chinamasa has remained tight-lipped on the country’s plans to repay its $1,8 billion arrears to multilateral lenders. This was after the debt-ridden nation failed to meet the June 30, 2016 deadline to repay its debts to preferred creditors — the World Bank, International Monetary Fund (IMF) and the African Development…
HARARE – Vendors’ leader, Sten Zvorwadza, and 13 alleged accomplices yesterday gave notice of intention to have their public disorder case referred to the Constitutional Court (Con-Court). The group — charged with disorderly conduct in a public place following a July 16, 2016 demonstration against alleged municipal police corruption — appeared before Harare magistrate Nomsa…
HARARE – National flag carrier, Air Zimbabwe, requires at least $770 million to procure new aeroplanes suitable for domestic, regional and international routes, Transport minister Jorum Gumbo has said. “This will involve procuring three small jets for the domestic market and an appropriate mix for other regional and international aircraft in line with the airline…
HARARE – The Reserve Bank of Zimbabwe (RBZ) is in final negotiations with shareholders of the country’s largest pharmaceutical group, CAPS Holdings (CAPS), amid indications government has already secured several takers for the drugs company. Industry minister, Mike Bimha, last week told the businessdaily that while there were several local and international investors who wanted…
HARARE – Zimbabwe is set to pay out a five percent export incentive to cotton producers this year, following government’s injection of $42 million fresh capital into the sector, a Cabinet minister said. Finance minister, Patrick Chinamasa, yesterday said the move was aimed at boosting cotton production in the country. “You may also need to…
HARARE – Financial executive and farmer Hashmon Matemera — accused of externalising $300 million — was yesterday removed from remand after the State kept requesting for more time to institute extra-territorial investigations. The ex-BancABC managing director appeared before Harare magistrate Rumbidzai Mugwagwa who ordered the State to proceed by way of summons. Having been charged…
HARARE – Government is looking at setting up over 600 telecommunications towers across the country, through a $250 million fund from the Universal Services Fund (USF), a Cabinet minister has said. Information Communication Technology (ICT) minister, Supa Mandiwanzira, on Monday said the project was being conducted by the Postal and Telecommunications Regulatory Authority of Zimbabwe…
HARARE – State-owned mobile telecommunications company, NetOne, has more than doubled its market in the past few years due to improved services, sound leadership and innovative products, a Cabinet minister has said. Tourism minister Walter Mzembi said NetOne must continue to create high value capabilities and tap into the global market through unique products. “As…
HARARE – Zimbabwean miners have urged national power utility, Zesa Holdings, to reduce its electricity tariffs in an effort to boost the country’s mineral output. Mines minister Walter Chidakwa last week said he was lobbying for a special power tariff of $0,04 per kilowatt hour (kwh) from the current $0,06/kwh for chrome miners to reduce…
HARARE – National Social Security Authority (Nssa) chairperson Robin Vela, has been appointed to the Institute of Chartered Accountants in England and Wales (ICAEW) members’ advisory board, following the creation of an African chapter for the organisation. The newly-established Members Advisory Board (MAB) — which consists of prominent chartered accountants from across Africa — also…
