BUSINESS NEWS

Zimbabwe miss $1.8 billion repayment deadline

President Robert Mugabe's government failed to repay $1.8 billion to the International Monetary Fund, the World Bank and African Development Bank, Bulawayo24.com reported.The country had set its own d...

By Thobekile Zhou | Published: 14 July 2016

BUSINESS NEWS

Zimbabwe FDI drops to $421 million

Finance and Economic Development Minister Patrick Chinamasa has said clearance of the country's debt arrears to its multi-lateral creditors without fresh funding will leave Zimbabwe in a worse off eco...

By Business Reporter | Published: 13 July 2016

POLITICS

Zimbabwe counting the costs

Last week's nationwide stayaway has sent negative messages to foreign investors that are likely to militate against government's efforts to lure foreign direct investment, analysts have said.On Wednes...

By Staff reporter | Published: 12 July 2016

BUSINESS NEWS

Australia, Zimbabwe business council launched

THE Australia-Zimbabwe Business Council (AZBC) was launched on February 23 in Wollongong, Sydney, Australia, to strengthen bilateral trade and foster business relations and investment between the two ...

By Staff reporter | Published: 24 June 2015

MINING & RETAIL

Zim miners deny evading taxes

Zimbabwe mining companies say they are not evading taxes but distribute their earnings legitimately among various stakeholders in line with the country's laws.Isaac Kwesu, the Zimbabwe Chamber of Mine...

By Staff reporter | Published: 24 June 2015

MINING & RETAIL

'Renewed interest in Zimbabwe's chrome sector'

There is renewed interest by investors in the chrome sector following the lifting of a ban on unprocessed ore exports, a cabinet minister has said.Government two weeks ago reversed a four-year chrome ...

By New Ziana | Published: 24 June 2015

POLITICS

Zimbabwe owes diplomats about R122m in salary arrears

The cash-strapped Zimbabwe government is battling to pay salaries on time to diplomatic staff deployed to its 43 embassies across the world, a senior official said Tuesday.Willard Manungo, secretary f...

By AFP | Published: 23 June 2015

BUSINESS NEWS

'Cement' batteries, disguised palm oil entering Zim's borders

Automotive batteries filled with cement or broken glass and palm oil disguised as soya-bean oil are some of the shoddy imports making their way through the country's porous borders, in contravention o...

By Tawanda Musarurwa | Published: 23 June 2015

FINANCIAL SERVICES

Zimbabwe banking sector profits decline

The Reserve Bank of Zimbabwe says the banking sector's capitalisation though largely in compliance with minimum capital requirements, remains under threat from losses being recorded by a few banking i...

By Staff reporter | Published: 23 June 2015

BUSINESS NEWS

Zimbabwe's private sector debt estimated at $4bn

ZIMBABWE carries an estimated $4 billion private sector debt it needs to validate and service in order to open fresh lines of credit.This indication comes against sentiment that part of the reason Zim...

By Golden Sibanda | Published: 23 June 2015

TRANSPORT & TOURISM

Air Zimbabwe re-launches Lusaka route

Air Zimbabwe has today re-launched its Harare-Lusaka route which was discontinued in 2011 due to low passenger traffic. The airline will now be flying between Harare and Lusaka three times a week - o...

By Walter Muchinguri | Published: 22 June 2015

BUSINESS NEWS

Zimbabwe records more mergers

Ten mergers have been approved so far by the Competition and Tariff Commission (CTC) amid indications that more local companies would seek foreign partners to strengthen balance sheets.CTC assistant d...

By Staff reporter | Published: 22 June 2015

MINING & RETAIL

Zimbabwe targets 50 tonnes of gold

Minister of Finance Patrick Chinamasa told junior parliamentarians that the government was implementing measures to increase gold production in the country. Chinamasa noted that government had recentl...

By Staff reporter | Published: 22 June 2015

BUSINESS NEWS

Zimbabwe moves to scrap travellers' rebates

Zimbabwe is considering scrapping travellers' rebates on basic commodities to boost local industry, Finance minister Patrick Chinamasa said on Thursday.Chinamasa told delegates attending the Buy Zimba...

By Staff reporter | Published: 22 June 2015

BUSINESS NEWS

Investors renew Zimbabwe interest

After shunning Zimbabwe during its years of hyper-inflation and political strife, foreign investors are finding the country increasingly attractive following the lifting of  European Union (EU) e...

By Staff reporter | Published: 22 June 2015

BUSINESS NEWS

Discovery Sport launched in Zimbabwe

The new Land Rover Discovery Sport, the world's most versatile and capable premium compact sport utility vehicles (SUV), is now available in Zimbabwe following its launch in the country on Wednesday.N...

By Staff reporter | Published: 22 June 2015

TRANSPORT & TOURISM

Zimbabwe launches prepaid tolling card

The Zimbabwe National Roads Administration (Zinara) has launched a prepaid tolling card for the motoring public's "convenience and especially those in the logistics sector to have total control, and o...

By Staff reporter | Published: 22 June 2015

LANDS & AGRICULTURE

'Zimbabwe to stop milk imports in 3 years'

The Zimbabwe Association of Dairy Farmers (ZADF) says 85 percent of milk consumed by citizens is imported, a situation that has forced government to come up with a policy to stop milk imports in three...

By Staff reporter | Published: 22 June 2015

BUSINESS NEWS

Zimbabwe to settle $10bn debt, says AfDB

Zimbabwe will craft a "debt repayment plan" to address the country's over $10 billion debt overhang by August, the African Development Bank (AfDB) to Zimbabwe representative said.Mateus Magala, the Af...

By Staff reporter | Published: 22 June 2015

MINING & RETAIL

Zimbabwe miners welcomes lift on export chrome ban

Zimbabwe miners and other economic stakeholders have hailed government's move to immediately lift a ban on the export of the mineral as it will enable them to raise funds to increase smelting capacity...

By Staff reporter | Published: 22 June 2015

BUSINESS NEWS

Zimbabwe collects $1,65m tourism VAT

Hard - hit Zimbabwe government collected a total of $1,65 million from value added tax (VAT) on non-resident tourist accommodation in the four months to April this year, a top official has revealed.Wi...

By Staff reporter | Published: 22 June 2015

FINANCIAL SERVICES

Zimbabwe banks shun corporates, says AfDB

Zimbabwe's financial services now prefer lending to individuals in favour of risky corporate borrowers, the African Development Bank (AfDB) has said.In its March 2015 Monthly Report on Zimbabwe, the r...

By Staff reporter | Published: 22 June 2015

MINING & RETAIL

Zimbabwe gold production up 50%

Zimbabwe's total gold deliveries surged by nearly 50 percent to 1 546,16 kilogrammes (kg) in March 2015, from 1 040,49 kg recorded in March 2014, figures from the African Development Bank (AfDB) revea...

By Staff reporter | Published: 22 June 2015

INDUSTRIALS & ENERGY

Tongaat's Zimbabwe sugar sales up 109%

Sugar producer, Tongaat Hulett Zimbabwe (Tongaat), says its domestic market sales for the year to March 2015 surged 109 percent to 309 000 tonnes from 148 000 tonnes in 2014 due to the introduction o...

By Staff reporter | Published: 22 June 2015

MINING & RETAIL

Zimbabwe warned against mortgaging minerals

Zimbabwe must stop mortgaging minerals to secure loans but must negotiate deals more shrewdly to preserve future generations from bad decisions, a renowned Ghanaian economist said.Douglas Boateng, Afr...

By Staff reporter | Published: 21 June 2015
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