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

OPINION

TelOne: Even good management cannot save a parastatal

Bad management has helped sink many Zimbabwean parastatals, but TelOne, the state-owned telco, shows that not even the best leadership can keep a state enterprise afloat as long as government keeps up...

By newZWire | Published: 04 July 2019

TELECOMS & TECHNOLOGY

Govt, parastatals owe TelOne $93m in unpaid bills

Telone trimmed its debtors' book by 7% from $162 million in 2017 to $151 million in 2018, but is still struggling to recover debts owed by government departments and parastatals totalling $93 million ...

By Staff reporter | Published: 03 July 2019

BUSINESS NEWS

Zesa re-bundling part of parastatals reforms, says Chiwenga

THE re-bundling of Zesa and merger of its five previously separate entities into a single integrated company will cut overhead costs and boost power generation efficiency, Vice President Constantino C...

By Staff reporter | Published: 25 April 2019

BUSINESS NEWS

Cabinet approves parastatal reforms

CABINET yesterday approved a litany of measures meant to strengthen under-performing parastatals such as Air Zimbabwe, the Grain Marketing Board and Zesa Holdings.Addressing journalists soon after the...

By Staff reporter | Published: 06 February 2019

BUSINESS NEWS

Parastatal reforms gain momentum

GOVERNMENT'S reform programme on 43 public enterprises has gathered momentum with Cabinet yesterday resolving to consider, for adoption, submissions on targeted entities beginning next week. Each Cabi...

By Staff reporter | Published: 28 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

BUSINESS NEWS

Parastatals debt balloons

PARASTATALS owe the Zimbabwe Revenue Authority (Zimra) over $491 million in unpaid taxes amid warnings that the struggling state-owned enterprises are crowding out funding for social services such as ...

By Staff reporter | Published: 22 July 2018

POLITICS

New board of directors for mining parastatals

Government says it will soon announce a new board of directors for mining parastatals and has committed itself to ensure that Zimbabwe Mining Development Corporation (ZMDC) assets are utilised for the...

By Staff reporter | Published: 19 May 2018

BUSINESS NEWS

New law shakes up parastatals

President Emmerson Mnangagwa has placed limits on the terms of office of chief executives and board members of State enterprises and Parastatals (SEPs), while also binding them to performance contract...

By Staff reporter | Published: 13 May 2018

BUSINESS NEWS

Chiwenga threatens non-performing parastatals

Vice President General Constantino Chiwenga (Retired) yesterday said it was time non-performing State Enterprises and Parastatals (SEPs) were shut down if efforts to revive them have failed.Presenting...

By Staff reporter | Published: 10 May 2018

TRANSPORT & TOURISM

Air Zimbabwe scandal reflects parastatal rot

THE systematic decline and near-collapse of the country's flag carrier Air Zimbabwe (AirZim), attributed to mismanagement and corruption, reflects the general decay of struggling and bankrupt state-ow...

By Staff reporter | Published: 13 April 2018

BUSINESS NEWS

Zim to sell shares in parastatals as part of reforms

Zimbabwe is looking to sell shares in 35 state-owned firms, including telecoms and mining entities in the latest step to revive the economy under new political leadership, Finance Minister Patrick Chi...

By Reuters | Published: 13 April 2018

BUSINESS NEWS

Parastatals refuse to avail staff complement

The Labour and Social Welfare ministry is facing resistance from government's 90 parastatals to avail the exact number of people they employ. Speaking at a workshop on strategies for employment promot...

By Staff reporter | Published: 06 April 2018

OPINION

Parastatals reduced to Zanu-PF soup kitchens

The acting general manager (GM) at the Minerals Marketing Corporation of Zimbabwe (MMCZ) revealed on Monday that the parastatal was pressured to dish out money to the ruling party, in what constitutes...

By Staff reporter | Published: 14 March 2018

POLITICS

Mnangagwa escalates parastatals reform

PRESIDENT Emmerson Mnangagwa has set in motion a process to make sure State-owned enterprises are managed by people with the requisite skills and knowledge, it has emerged.Mnangagwa has, since taking ...

By Staff reporter | Published: 13 March 2018

BUSINESS NEWS

Govt orders salary freeze in parastatals

Government has imposed a salary and benefits freeze for management at State Enterprises and Parastatals amid plans to have the salaries reflect their performance. There are suggestions that the obtain...

By Staff reporter | Published: 19 January 2018

BUSINESS NEWS

Qualified personnel should run Zim parastatals

GOVERNMENT should deploy skilled personnel to run public enterprises and hold management to account instead of continuously pumping money where there are no returns.Speaking during the 2018 National B...

By Staff reporter | Published: 13 December 2017

BUSINESS NEWS

Zimbabwe parastatals face privatisation

PRESIDENT Emmerson Mnangagwa will privatise most of the 114 loss-making parastatals which have bled the fiscus amid plans to ease pressure on the Treasury as well as introduce reforms that will result...

By Staff reporter | Published: 02 December 2017

BUSINESS NEWS

Parastatal revival keynote for production boost

THE coming in of a new Government led by President Emmerson Mnangagwa has kindled hope for economic recovery in Zimbabwe after years of stagnation.The demise of key economic players, mainly public en...

By Staff reporter | Published: 01 December 2017

BUSINESS NEWS

97 parastatals pay govt measly dividend of $1.7m

Shocking revelations were made this week before Parliament by State Enterprises Restructuring Agency (SERA) executive director Edgar Nyoni that only two State enterprises and parastatals (SEPs) paid d...

By Staff reporter | Published: 15 September 2017

BUSINESS NEWS

30 under-performing parastatals resist audit

At least 30 parastatals and State enterprises were not audited last year for various reasons which will be revealed by Accountant-General Mr Daniel Muchemwa when he tables a comprehensive report befor...

By Staff reporter | Published: 14 September 2017

OPINION

Parastatals need complete overhaul

IN response to Mugabe to blame for parastatal mess: ZCTU: Your report that the Zimbabwe Congress of Trade Unions (ZCTU) blames President Robert Mugabe for the collapse of State-owned companies is spot...

By Staff reporter | Published: 12 September 2017

POLITICS

Mugabe advocates closure of non-performing parastatals

President Mugabe yesterday said non-performing parastatals and State enterprises must be dissolved as they are stifling economic growth through perennial dependence on the fiscus.He said some ailing p...

By Staff reporter | Published: 08 September 2017

POLITICS

Mugabe bemoans under-performance of parastatals

The President Robert Mugabe has expressed deep concern over the continued underperformance of state enterprises and the parastatal sector whose current contribution to the national gross domestic prod...

By Staff reporter | Published: 07 September 2017
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