FINANCIAL SERVICES

New Bill to revamp pensions funds set to be gazetted soon

THE upcoming Pensions and Provident Fund Bill will allow pension funds to invest up to 20% of their assets in offshore markets, but the regulator says this is subject to the fulfilment of local obliga...

By Staff reporter | Published: 11 October 2019

BUSINESS NEWS

Harare sells cattle to raise funds

Harare City Council has approved plans to sell 1000 herd of cattle to raise $3,5 million for capital projects meant to improve the state of its farms.The cattle are being kept Crowborough, Ingwe and P...

By Staff reporter | Published: 06 October 2019

BUSINESS NEWS

Zimbabwe retailers appeal for distress fund

Retailers have called on Government to establish a distress fund that will help re-capacitate and restock businesses that fell victim to the looting and vandalism that took place during last week's vi...

By Staff reporter | Published: 25 January 2019

BUSINESS NEWS

Mnangagwa to recover looted Zinara funds

Government will recover all the money looted from the Zimbabwe National Road Administration (Zinara), President Emmerson Mnangagwa has said. An audit report by Grant Thornton unearthed massive looting...

By Staff reporter | Published: 05 December 2018

BUSINESS NEWS

Zimbabwe seeks funds to improve power infrastructure

Zimbabwe requires $1,2 billion to finance new power projects and repair ageing infrastructure, a report by the African Development Bank (AfDB) has shown.Several of the country's thermal power stations...

By Staff reporter | Published: 02 December 2018

BUSINESS NEWS

Zimbabwe may lose out on Chinese funds

China, a comprehensive strategic partner of Zimbabwe, feels its debt stricken ally has moved slowly towards seizing funding opportunities Beijing pledged at this year's Forum for China-Africa Co-opera...

By Business Weekly | Published: 30 November 2018

POLITICS

Mupfumira warns parastatal bosses over abuse of funds

ENVIRONMENT, Tourism and Hospitality Industry minister Prisca Mupfumira has warned parastatals under her ministry to desist from corrupt tendencies that have crippled most parastatals and State-owned ...

By Staff reporter | Published: 27 November 2018

TRANSPORT & TOURISM

International airlines raise red flag over funds

INTERNATIONAL airlines operating in Zimbabwe are reportedly contemplating cancelling their routes after failing to recover a cumulative more than $130 million repatriation funds they are owed by the c...

By Staff reporter | Published: 27 September 2018

POLITICS

Khupe, Chamisa face off over party funds

THE battle for control of the opposition MDC-T alliance's resources has taken a new angle with leader of the breakaway faction Thokozani Khupe threatening to take her rival Nelson Chamisa to court dem...

By Staff reporter | Published: 04 July 2018

POLITICS

US confirms NGO funds abuse, hints at probe

The United States (US) yesterday confirmed that the quasi-political civil society organisations it had been funding to push the regime change agenda in Zimbabwe squandered funds meant for the "project...

By Staff reporter | Published: 03 July 2018

POLITICS

Ministers in trouble over Zanu-PF funds

TRANSPORT minister Joram Gumbo and his Local Government counterpart July Moyo are in deep trouble over US$300 000 which was sunk in a botched deal in which controversial airline Zimbabwe Airways (ZimA...

By Staff reporter | Published: 22 June 2018

BUSINESS NEWS

Exim Bank avails funds for Hwange Power Station

CHINA Exim Bank has released the initial $200 million to immediately kick-start the $1,5 billion Hwange Thermal Power Station expansion project in Matabeleland North province.President Emmerson Mnanga...

By Staff reporter | Published: 20 June 2018

FINANCIAL SERVICES

Ecobank to source more funds for critical imports

ECOBANK Zimbabwe, a unit of Togo-based Ecobank Transnational Inc, is arranging a $45 million line of credit to fund importation of critical raw materials, an official has said. Zimbabwe is grappling w...

By Staff reporter | Published: 20 June 2018

FINANCIAL SERVICES

StanChart seeks more funds from UK's CDC

Standard Chartered Zimbabwe is mulling engaging United Kingdom development finance institution, CDC, for an additional loan funding to support private sector, as it emerged Britain's first loan to the...

By Staff reporter | Published: 01 June 2018

BUSINESS NEWS

More externalised funds coming

RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya says more individuals and companies continue to heed Government's call to repatriate funds salted away in prior years.The RBZ is next week expe...

By Staff reporter | Published: 28 May 2018

BUSINESS NEWS

Allow investors to repatriate funds

GOVERNMENT should first assure investors on how they would be able to repatriate their investment before running around preaching the mantra of the country being open for business, Alpha Media Holding...

By Staff reporter | Published: 26 April 2018

POLITICS

Khupe wants share of party funds

FORMER Deputy Prime Minister and self-appointed leader of a break-away group of the opposition MDC-T, Thokozani Khupe, has written to government demanding her share of money allocated to the oppositio...

By Staff reporter | Published: 02 April 2018

POLITICS

Mugabe admits to externalising funds

FORMER President Mr Robert Mugabe and his family have admitted to externalising funds after buying two properties in South Africa and Hong Kong during his reign.The admission, which was made by the fo...

By Staff reporter | Published: 22 March 2018

POLITICS

Chamisa, Khupe fight over party funds

EMBATTLED MDC-T deputy president Thokozani Khupe has approached the Justice ministry, demanding that the money due to the opposition party under the Political Parties Finance Act (PPFA) be channelled ...

By Staff reporter | Published: 17 March 2018

BUSINESS NEWS

'Failure to remit funds scares away Zim investors'

ZIMBABWE'S competitiveness as an economy and investment destination on the ease of doing business rankings will remain poor unless foreign investors are able to repatriate dividends, an official from ...

By Staff reporter | Published: 15 March 2018

BUSINESS NEWS

Zinara chef admits abusing funds

Zimbabwe National Roads Administration (Zinara) executives yesterday admitted to receiving several allowances without paying tax, including others that were above authorised levels.The executives that...

By Staff reporter | Published: 28 February 2018

LANDS & AGRICULTURE

GMB seeks funds to buy maize driers

THE Grain Marketing Board (GMB) is seeking funds to buy maize driers to dry maize that will be delivered to their depots with moisture content above the recommended standard as it readies for this yea...

By Staff reporter | Published: 25 February 2018

INDUSTRIALS & ENERGY

Zim's manufacturing sector crying for cheap funds

The country's manufacturing sector is crying for cheap funds for re-tooling to improve performance and production of quality goods, with little success.A number of companies in Zimbabwe, and Bulawayo ...

By Staff reporter | Published: 21 February 2018

BUSINESS NEWS

Headway recorded on externalised funds

Externalised funds have significantly trickled back into the country's formal banking channels as a moratorium set by the President Emmerson Mnangagwa for those involved in the externalisation of fund...

By Staff reporter | Published: 08 February 2018

TELECOMS & TECHNOLOGY

China funds TelOne HPC

China says it is committed to improving its relations with Zimbabwe by providing state of the art information and communication technology (ICT) equipment.Chinese Ambassador to Zimbabwe, Mr Huang Ping...

By Staff reporter | Published: 29 January 2018
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