HARARE – Information minister Chris Mushohwe has slammed the United States government for attempting to scuttle Zimbabwe’s efforts to clear its debts and secure new credit lines from multilateral lenders, and other creditors. This comes as US senator Bob Corker has called on Treasury secretary Jacob Lew to stop the World Bank and the International…
HARARE – Industry has challenged Reserve Bank of Zimbabwe (RBZ) governor John Mangudya to tackle the country’s position in settling its external debts when he presents his Monetary Policy Statement (MPS) this month. In a position paper released yesterday, the Zimbabwe National Chamber of Commerce (ZNCC) said debt assumption was one area the coming monetary…
HARARE – State-owned social security agency, National Social Security Authority (Nssa) says it has started a search for top management after firing its top executives last year. In a 2015 fourth quarter update statement, Nssa chairperson Robin Vela said the organisation expected appointments to be made and announced by this April. “The search for a…
HARARE – Brick manufacturing concern, Radar Holdings Limited (Radar) is moving to delist from the Zimbabwe Stock Exchange (ZSE), the group has said. In an abridged information memorandum to shareholders and notice of an extraordinary general meeting to be held later this month, the group said the reason for its delisting proposal was under-performance. “The…
HARARE – Amid intense debate about the fate of a $300 million tax bill or debt owed to the Zimbabwe Revenue Authority (Zimra) by the seven or so Chiadzwa diamond mining companies to be consolidated into one entity, Mines minister Walter Chidakwa says the process does not mean the miners will be freed from paying…
HARARE – Cottco Holdings Limited (Cottco) says government has started the resuscitation of the embattled cotton manufacturer through a special purpose vehicle set to assume the group’s $56 million debt. In a statement accompanying its unaudited financials for the half year ended September 30, 2015, Cottco said government was taking over all of the company’s…
HARARE – Platinum miner Aquarius Platinum Limited (Aquarius) — a 50 percent shareholder in Zimbabwe’s second largest platinum producer, Mimosa — is in talks with government over the official gazetting of amendments to export tax on un-beneficiated platinum. In a statement accompanying the group’s financials for the half year to December 31, Aquarius chief executive…
HARARE – Industry minister, Mike Bimha, says the country is going to maintain a stringent approach to issuing import permits to protect local industry and cut on an ever ballooning import bill. Bimha said the move was against cheaper imports as the United States Dollar (US$), the country’s main currency struggled against weaker regional currencies…
HARARE – Zimbabwe’s mining sector is set to grow by 1,6 percent this year on the back of improved production, the country’s Chamber of Mines has projected. According to findings of the Chamber’s study, titled “The State of the Mining Industry Survey, Report on Findings 2015”, 40 percent of local mining companies surveyed said they…
HARARE – Israeli national Arthur Chen, who was nabbed last week for overstaying his holiday visa and contravening the country’s immigration laws, is awaiting deportation after being convicted on his own guilty plea and paying a $200 fine. The 42 year-old Avondale resident, who is also believed to have been working for compatriot Zohar Pablo’s…
