HARARE – The Zimbabwe Chamber of Mines (ZCoM) will today launch its State-of-the-Mining Sector report, in the wake of the sector’s viability challenges. ZCoM chief executive Isaac Kwesu on Tuesday told a news conference in the capital the report was coming in light of rising production costs with volatile international metal prices. “Our industry is…
HARARE – Transport minister Joram Gumbo says government is “restarting the process” of identifying potential investment partners for the dualisation of the Beitbridge-Harare-Chirundu road and rehabilitation of border posts. The ex-Zanu PF parliamentary chief whip said the move had been necessitated by “problems encountered” on the Plumtree-Harare highway and other issues that the State had…
HARARE – Auditing firm, KPMG, has pushed forward the release date of a forensic audit report they are carrying on State-owned wood processing firm Allied Timbers (Allied), it has emerged. The report, which was due last week Friday, is expected to unravel suspected irregular conduct and misappropriation of company funds by former group chief executive…
HARARE – The Zimbabwe Revenue Authority (Zimra) Commissioner-General Gershem Pasi says the taxman assessed about $40 million tax claims during its tax amnesty last year. Speaking on the side-lines of the International Customs Day commemorations in the capital yesterday, Pasi said the authority was now going after the clients who had not come forward during…
HARARE – Total deposits on the country’s mobile money platforms slumped 10,5 percent in the third quarter of 2015, to record $458 million from $512 million recorded prior quarter. According to a Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) report for the period, mobile money deposits were experiencing periodic fluctuations despite an increase in…
HARARE – Zimbabwe has secured a $200 million loan facility from the Afreximbank for maize imports to avert hunger, central bank governor has said. Reserve Bank of Zimbabwe (RBZ) governor John Mangudya yesterday told journalists in the capital that the loan would see the country starting imports “immediately”. “With a consumption of around 1,5 million…
HARARE – President Robert Mugabe’s government was this week expected to pay VimpelCom Limited (Vimpelcom) about $30 million in outstanding funds for a 60 percent stake in Telecel Zimbabwe (Telecel), businessdaily has learnt. Although company executives, including chief executive Angeline Vere, were unreachable for comment, at least three independent sources said that the National Social…
HARARE – The Reserve Bank of Zimbabwe (RBZ) must introduce an inflation-oriented policy as part of strategies to halt deflation and grow the economy, a South African-based think tank has warned. Oxford Economics research company NKC African Economics (NKC) said in light of deflationary pressures that have haunted Zimbabwe for over a year, the central…
HARARE – The Depositor’s Protection Corporation (DPC) says it will disburse close to $1 million towards depositors whose money was wiped out when the country adopted the multi-currency system. John Chikura, the corporation’s chief executive said the money was set to cover depositors of now defunct banks such as AfrAsia Bank Zimbabwe Limited (AfrAsia), Allied…
HARARE – Zimbabwe Stock Exchange (ZSE)-listed diversified group, Innscor Africa Limited (Innscor) is divesting from its supermarket portfolio to focus on core restaurant business. “Pursuant to Innscor Africa Limited’s strategy of focussing on core business, the board of directors announces that the group has, with effect from January 1, 2016, divested its interests in the…
