Business

HARARE – Zimbabwe has intensified efforts to introduce e-government services with the objective of improving information and communications technology (ICT) infrastructure in the country. E-government refers to the use by government agencies of information technologies that have the ability to transform relations with citizens, businesses and other arms of government. These information technologies could contribute…

HARARE – Zimbabwe’s cash-strapped government has admitted that it has failed to revive its railway operator parastatal due to lack of funding. Finance minister Patrick Chinamasa said the country will have to look elsewhere for solutions to resuscitate the National Railway of Zimbabwe (NRZ). [GoogleAd] “A comprehensive capitalisation programme for the National Railways of Zimbabwe…

HARARE – Palpable fear has gripped workers across the country as more companies continue to lay off large numbers of their staff, a direct consequence of the prevailing tough economic situation in the country. Latest figures from the Reserve Bank of Zimbabwe (RBZ) revealed that nearly 3 000 people lost their jobs in the nine…

HARARE – Zimbabwe’s largest tyre retailer has warned the government of rising inflation in the coming few months due to lack of foreign currency. National Tyre Services (NTS) chairman James Moyo last week said it was critical for the country to come up with strategies to inject fresh capital into the economy. “The continuing economic…

HARARE – Finance minister Patrick Chinamasa (pictured) has declared war on local funeral assurers failing to meet minimum capital requirements and prescribed asset requirements as the country’s deteriorating economy continues to affect the insurance sector. The minister, who last year reviewed minimum capital thresholds for the insurance sector, said funeral assurers remained defiant to calls…

HARARE – Zimbabwe is moving to establish a National Quality Standards Regulatory Authority (NSRA) with the intention to halt the importation of cheap imports. Industry minister Mike Bimha on Wednesday said the country lacked an authority specifically tasked with inspecting products that make their way into the country, a situation facilitating dumping of poor quality…

HARARE – President Robert Mugabe’s cash-strapped government has urged workers to quit their jobs and venture into entrepreneurship. Finance minister Patrick Chinamasa said the latest move was aimed at maximising returns on the country’s human capital by reversing the prevailing mentality of trained personnel being content to remain as employees. “Central to this is broadening…

HARARE – The government’s plans to take over the country’s largest pharmaceutical group, CAPS Holdings (CAPS), has hit a snag. Industry minister, Mike Bimha, yesterday told a news conference in the capital that while he was hopeful the discussions would be concluded soon and amicably, the businessdaily is reliably informed that CAPS major shareholder, Frederick…

HARARE – American carbonated soft drink producer, Coca-Cola Company, has agreed to buy Anheuser-Busch InBev SA’s 54,5 percent stake in Coca-Cola Beverages Africa (CCBA) for $3,15 billion. CCBA — Africa’s largest bottling firm —was formed by Coca-Cola along with SABMiller and the South African owners of bottler Coca-Cola Sabco in 2014. The company is based…