HARARE – The National Social Security Authority (Nssa) is expected to unveil its new executive-management team on July 01 amid indications that Elizabeth Chitiga is likely to head the organisation. This also comes as Labour and Social Welfare minister Prisca Mupfumira has said a candidate for the top post had been identified, and only awaiting…
HARARE – RioZim chairman Lovemore Chihota has come under fire from the company’s shareholders and other interested stakeholders for misleading the nation on the Murowa Diamonds (Murowa) deal. Chihota told the country that global resources firm Rio Tinto, which operated in Zimbabwe for close to 60 years, disposed its 78 percent shareholding in Murowa to…
HARARE – The Grain Marketing Board (GMB) has collected 35 000 metric tonnes (mt) of maize from local farmers as the country battles to plug a 2,5 million tonne cereal deficit, a Cabinet minister has said. Agriculture minister Joseph Made last week told the National Assembly that local farmers had since delivered 35 000mt to…
HARARE – The Reserve Bank of Zimbabwe (RBZ) has configured the Real Time Gross Settlement (RTGS) system into a multi- currency platform set to include five currencies as it moves to mitigate against exchange control losses, it has emerged. An RTGS is an electronic money transfer for high value transactions where the transmission takes place…
HARARE – Controversy continues to dog Rio Tinto’s disposal of its 78 percent shareholding in Murowa Diamonds, amid fresh claims that the mine was sold for a song under suspicious circumstances to a Virgin Islands-registered company, RZ Murowa Holdings, in contravention of Zimbabwe’s laws. When Murowa was disposed off last year, it was announced at…
HARARE – Barclays Bank Zimbabwe (BBZ) has introduced a $500 maximum withdrawal limit per week for individual depositors as the bank aims to contain the current cash shortages with its depositors, the businessdaily has learnt. [GoogleAd] Sources said the bank had put in place measures for individuals to withdraw a maximum of $500 per week…
HARARE – The European Union (EU) is set to inject about $7,5 million through its development fund to enhance local competitiveness, the union’s ambassador to the country Phillipe Van Damme has said. The EU envoy yesterday told delegates at the launch of the Zimbabwe Trade Information Portal in the capital that the fund, to be…
HARARE – Ferrochrome producer Zimasco (Private) Limited has won a judicial management order to preserve its assets amid revelations that the company was sitting on a ticking time-bomb related to its “toxic” environmental management policy. This also comes as the Chinese-owned metals group has lurched into a political storm after misleading Vice President Emerson Mnangagwa…
HARARE – Zimbabwe has so far exported flue-cured tobacco worth $253,6 million in a development expected to ease liquidity challenges in the country, figures from the Tobacco Industry Marketing Board (TIMB) indicate. According to TIMB, 45,1 million kilogrammes (kg) were sold at the close of week 22 of the tobacco selling season. The current figures…
HARARE – Sakunda Holdings (Sakunda)’s diesel-fired Dema plant is part of a raft of projects – totalling 850 megawatts (MW) – anticipated by the company countrywide, it has been learnt. The development not only comes as the Zimbabwean firm has morphed into a fully-integrated energy supplier, but has grown to be the biggest fuel trader…
