Shortage of oil refineries haunts Africa as fuel prices rocket

A shortage of oil refineries across sub-Saharan Africa coupled with soaring crude prices because of the war in Ukraine has left countries dangerously short of fuel supplies, disrupting airlines and ca...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Tax breaks for renewable energy investors as govt launches new policy

Government has dangled a carrot to potential investors in the renewable energy sector by giving tax breaks as well as awarding national project status for such ventures.This is contained in the new en...

By Staff reporter | Published: 19 March 2020

ZIMBABWE

Bureaux De Changes to trade through a centralised system

Bureaux De Changes will be required to trade only through an online retail foreign currency platform with the trades being fed in real-time to a central monitoring server, according to new rules which...

By Staff reporter | Published: 17 March 2020

ZIMBABWE

SecZim to audit fungible shares trading amid 'cheating' reports

The Securities and Exchange Commission of Zimbabwe says it will undertake an audit of all transaction inflows on dual listed shares that were consummated with effect from June 1, 2019. This comes amid...

By Staff reporter | Published: 12 March 2020

CONSTRUCTION & PROPERTY

Lafarge to double capacity after launching US$25m expansion project

Lafarge has budgeted US$25 million for its expansion project which will double capacity by year-end 2022.  The expansion plan kicked off this morning at a ground-breaking ceremony for a Dry Morta...

By Staff reporter | Published: 11 March 2020

POLITICS

'Public assaults on Zimbabwe police on the rise'

THE Zimbabwe Republic Police (ZRP) has claimed there is an increase in cases of assault of its members by the public, a development the law enforcement body has described as disturbing.National police...

By Staff reporter | Published: 22 October 2019

BUSINESS NEWS

Hwange station needs complete overhaul

SUBDUED power generation at Hwange Power Station is contributing to prolonged load shedding as only four units out of six are operating, general manager for the plant, Engineer Arnold Chivurayise, has...

By Staff reporter | Published: 22 October 2019

BUSINESS NEWS

Hundreds attend Bulawayo Amazing Voices auditions

AUDITIONS for the Zimbabwe leg of the Old Mutual Amazing Voices singing competition kicked off in Bulawayo at the Large City Hall yesterday with hundreds flocking the venue to try their luck. Among th...

By Staff reporter | Published: 17 October 2019

ECONOMC INDICATORS

Trade deficit widens to US$718m despite 15% rise in export earnings for August

According to the latest Zimstat statistics, Zimbabwe's 2019 trade deficit widened to US$718 million at the end of August, although the monthly deficit fell by 33% to US$39 million from US$58 million i...

By Staff reporter | Published: 14 October 2019

POLITICS

Mujuru daughter files for divorce

A DAUGHTER of vice president Joice Mujuru and the late general Solomon Mujuru has filed divorce papers against her husband of 19 years.Chipo, who was married to Simbayi Sabastian Makoni since December...

By Staff reporter | Published: 14 October 2019

MINING & RETAIL

Mnangagwa to launch ambitious US$$12bn mining roadmap next week

PRESIDENT Emmerson Mnangagwa is set to officially launch a roadmap towards achieving an ambitious US$$12bn mining industry in the next four years as government moves to get more value from the capital...

By Staff reporter | Published: 11 October 2019

BUSINESS NEWS

Companies, parastatals default paying tax: Zimra boss

Zimbabwe Revenue Authority (Zimra) Commissioner-General Faith Mazani on Tuesday told Parliament that companies and parastatals were not paying taxes resulting in a huge tax debt.Mazani appeared before...

By Staff reporter | Published: 10 October 2019

FINANCIAL SERVICES

'Bureaus not allowed to transact with corporates'

Bureaux de Change are not allowed to transact with corporates or enter into twining arrangements with customers to prefund foreign currency purchases, according to a directive from the Reserve Bank of...

By Staff reporter | Published: 05 October 2019

FINANCIAL SERVICES

Morgan & Co launches research app

Morgan & Co, a securities firm yesterday launched a research app that offers interaction between the capital markets and investors.The Morgan & Co Research App is meant to simplify the investm...

By Staff reporter | Published: 05 October 2019

LANDS & AGRICULTURE

Cassava launches Vaya tractor services

Zimbabwe Stock Exchange-listed entity Cassava Smartech has once again, in its series of platforms, launched the Vaya tractor services to add to its Eco-farmer portfolio. The service was officially lau...

By Staff reporter | Published: 04 October 2019

LANDS & AGRICULTURE

Zimbabwe milk output increases to 52.51 mln litres in 8 months to August

Zimbabwe's raw milk production in the first 8 months to August rose 10% to 52.51 million litres from 47.84 million litres recorded in the same period last year. However, the output is still 56% below ...

By Staff reporter | Published: 02 October 2019

POLITICS

Mnangagwa halts Mugabe mausoleum construction

GOVERNMENT has stopped construction of what was supposed to be late former President Robert Mugabe's mausoleum at the National Heroes Acre two days after he was buried at his rural Zvimba home, NewZim...

By Staff reporter | Published: 01 October 2019

MINING & RETAIL

Zimbabwe to auction 500 000 carats

THE Minerals Marketing Corporation of Zimbabwe (MMCZ) says it will conduct another diamond auction before the end of the year targeting to sell between 400 000 and 500 000 carats. A fortnight ago, MMC...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

Zimra sweats over tax defaulters

THE Zimbabwe Revenue Authority (Zimra) is sweating over the fiscalisation of companies after it emerged that some entities have not connected the recording of their taxable transactions on the fiscal ...

By Staff reporter | Published: 27 September 2019

TELECOMS & TECHNOLOGY

Sasai promo launched

Cassava Smartech yesterday launched a $10 million chakachaya pasasai promotion that will be open for all active Sasai application users. The promotion which will run for over 10 weeks starting from to...

By Staff reporter | Published: 27 September 2019

TRANSPORT & TOURISM

Cable fault disrupts train movement

A FAULTY electricity cable that supplies power to the National Railways of Zimbabwe signals grid has disrupted local and regional train movement between South Africa and Zimbabwe through Beitbridge.So...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

Average Zimbabwean lived On $12.78/day in August

According to Zimstat's latest statistics the average Zimbabwean lived on $12.78 per day while the average family needed $1,827 in order not to be deemed poor. The figure implies that Zimbabweans are n...

By Staff reporter | Published: 24 September 2019

BUSINESS NEWS

Bureaux de change align rate to interbank

Government, through the Reserve Bank of Zimbabwe (RBZ), has moved to refine the operations of bureaux de changes to align their foreign currency exchange rate with that of the official interbank marke...

By Staff reporter | Published: 24 September 2019

BUSINESS NEWS

Zimra lifestyle audit: 36 suspended

THE Zimbabwe Revenue Authority (Zimra) suspended at least 36 officers implicated in lifestyle audits, while processes are underway at the High Court to forfeit the ill-gotten wealth.Zimra Commissioner...

By Staff reporter | Published: 24 September 2019

BUSINESS NEWS

SECZIM develops handbook on Anti-Money Laundering

In a bid to assist Securities Market Intermediaries (SMIs) in understanding their obligations in the fight against money laundering and terrorist financing in the securities sector, the Security and E...

By Staff reporter | Published: 23 September 2019
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