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

OPINION

Mnangagwa must call for referendum

WHILE President Emmerson Mnangagwa has done well in meeting leaders of political parties under Polad, I urge him to go further and meet all stakeholders so as to solve the economic crisis that has env...

By Harry Peter Wilson | Published: 22 October 2019

BUSINESS NEWS

Zimbabwe economic reforms win IMF approval

The International Monetary Fund (IMF) has lauded Zimbabwe's economic reforms but warned they might take time to bear fruit since they were meant to correct mistakes that happened over two decades.IMF ...

By Staff reporter | Published: 11 October 2019

INDUSTRIALS & ENERGY

Chiyangwa's company to manufacture and refurbish wagons?

THE Diaspora Infrastructure Development Group (DIDG) has started manufacturing 6 000 rail sleepers for Beitbridge Bulawayo Railway while plans are underway to produce 60 000 more for the National Rail...

By Staff reporter | Published: 10 October 2019

FINANCIAL SERVICES

Zimbabwe's interbank market needs refinement

Local Industries claim they are yet to realise the benefits of the recently introduced interbank foreign currency market, as they continue to struggle accessing hard currency. The interbank market was...

By Staff reporter | Published: 04 October 2019

INDUSTRIALS & ENERGY

Forex earnings boost Afsun H1 as group embarks on major soft refurbishments

Foreign currency earnings, which constituted 45% of revenue, helped African Sun post a 765% increase in the bottom-line for the half year to June 30.  This is in spite of a drop in occupancy leve...

By Staff reporter | Published: 28 September 2019

BUSINESS NEWS

DBSA CEO calls for reforms in Zimbabwe

DEVELOPMENT Bank of Southern Africa (DBSA) chief executive officer Patrick Dlamini says government can do much better on reforms, amid a planned visit to Zimbabwe to discuss potential funding for the ...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

Harare council takes delivery of wrong refuse trucks

HARARE City Council (HCC) which took delivery of single skip trucks instead of double skip trucks from FAW Zimbabwe are contemplating taking action against the supplier. Council environmental manageme...

By Staff reporter | Published: 11 July 2019

BUSINESS NEWS

Harare's refuse trucks stuck in SA

HARARE City Council (HCC) is failing to collect garbage as 15 refuse compactors are still stuck in South Africa because of lack of foreign currency to pay for their duty. Harare mayor Herbert Gomba sa...

By Staff reporter | Published: 11 July 2019

INDUSTRIALS & ENERGY

Currency reforms expected to stabilise fuel sector

THE re-introduction of the Zimbabwean dollar is expected to bring stability to the fuel sector as Government tightens fiscal and monetary policies to ease pressure on foreign currency demand, National...

By Staff reporter | Published: 09 July 2019

BUSINESS NEWS

Mthuli Ncube's quotes on currency reforms . . .

"Replacing the multi-currency regime anchored in the United States dollar by the South African rand as the sole transaction currency would help reduce over-valuation and stimulate exports and growth. ...

By Lisa Tazviinga | Published: 01 July 2019

BUSINESS NEWS

Cabinet approves currency reforms

Cabinet has approved currency reforms introduced by Treasury which culminated in the scrapping of the multi-currency system on local transactions saying the move would now bring normalcy in the econom...

By Staff reporter | Published: 27 June 2019

POLITICS

Obert Mpofu 'refuses' to answer questions in court

EMBATTLED Zanu-PF secretary for administration and former Home Affairs minister Obert Mpofu yesterday refused to answer questions thrown at him by Ntabazinduna Chief Nhlanhlayemangwe Felix Ndiweni's l...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

Mthuli Ncube says 'TSP reforms led to growth'

Implementation of reforms under the Transitional Stabilisation Programme (TSP) has averted the economy from being weakened by adverse exogenous factors, Finance and Economic Development Minister Profe...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

'Price hikes reflect anti-export policy'

THE Confederation of Zimbabwe Industries (CZI) says price hikes currently obtaining in the country are a reflection of government's anti-export policies and not the fault of industry.CZI president Sif...

By Staff reporter | Published: 01 May 2019

BUSINESS NEWS

REF electrifies 9 800 rural institutions

THE Rural Electrification Fund (REF) is continuing with its efforts to provide alternative energy in rural areas having electrified more than 9 800 public institutions across the country since its inc...

By Staff reporter | Published: 29 April 2019

OPINION

Mnangagwa's reform programme steams ahead

In an interview with the British Broadcasting Corporation (BBC), this writer was asked what reforms President Mnangagwa had undertaken.The journalist asking the question was reminded that her mere pre...

By Nick Mangwana | Published: 28 April 2019

POLITICS

EU nod for progress in Zimbabwe reforms

The European Union (EU) yesterday acknowledged that there are some positive steps towards the attainment of political and economic reforms by Zimbabwe. Speaking after meeting President Emmerson Mnanga...

By Staff reporter | Published: 26 April 2019

POLITICS

MDC councillors refuse to declare assets

THE majority of Bulawayo councillors have refused to declare their assets and interests, notwithstanding pressure from residents, with mayor Solomon Mguni calling the move "a voluntary exercise".Only ...

By Staff reporter | Published: 25 April 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

MINING & RETAIL

Kamativi starts work on refinery plant

Kamativi Tailings Company says it will commence civil works at its plant site in Matabeleland North after the company concluded a $9,5 million offtake arrangement with a Swiss-based commodity trader, ...

By Staff reporter | Published: 30 January 2019

BUSINESS NEWS

AfDB urges reforms

DEEP structural reforms such as transparency in the mining sector and respect for property rights could improve Zimbabwe's business climate, attract private investment and see the return of skilled la...

By Staff reporter | Published: 06 January 2019

BUSINESS NEWS

Mthuli Ncube refuses to relax tax thresholds

Finance minister Mthuli Ncube has refused to relax non-taxable income thresholds to $400 saying Treasury needs every penny it can raise to respond to the tough budgetary environment.In his 2019 nation...

By Staff reporter | Published: 02 January 2019

POLITICS

'Intern' doctors refuse to return to work

The negotiations between health workers and Government yesterday failed to lure striking doctors back to work as they insisted on their demands despite the employer offering to review their allowances...

By Staff reporter | Published: 01 January 2019
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