President Mnangagwa Fungi Kwaramba Political Editor MACHINATIONS by the country’s detractors to cause unnecessary pain to the populace and damage Zimbabwe’s reputation must be continuously exposed especially as the country heads towards the 2023 harmonised elections, a period when disparagers usually up the anti-Zimbabwe ante, President Mnangagwa has said. This comes as the country has […]
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Zimbabwe Situation
Central bank’s foreign payments top US$2,4bn
RBZ Governor Dr John Mangudya Nelson Gahadza Senior Business Reporter The Reserve Bank of Zimbabwe (RBZ) says total foreign exchange payments for the period January to April 2022 reached US$2,4 billion with foreign currency accounts contributing the bulk of the funds at US$1,8 billion. Governor Dr John Mangudya in a foreign exchange payments update for […]
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Reduce 4% forex IMTT: Experts
BY FREEMAN MAKOPA ZIMBABWE’S cash-strapped government has been advised to lower the new foreign currency Intermediate Money Transfer Tax (IMTT) to 1%, from 4%, to boost revenue collection. Last month, as part of measures to promote the usage of local currency, President Emmerson Mnangagwa announced a new 4% IMTT on all domestic foreign currency transfers. […]
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‘Teachers’ salary can only buy 20 loaves of bread’
BY PROBLEM MASAU AS bread prices continue to soar, public sector employees are now comparing and contrasting their low wages to how many loaves they can actually purchase. A loaf of bread in the country now costs between $600 and $945, way beyond the reach of many workers, a majority of whom take home $35 […]
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Warrant of arrest against billboard businessman
BY DESMOND CHINGARANDE A warrant of arrest has been issued against one of the Harare men accused of illegally erecting a billboard tarnishing the image of a property development company. Paragon Printing director, Mark Strathen failed to appear before magistrate Shane Kubonera on Wednesday, resulting in the issuing of the warrant of arrest. Strathen is […]
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Ordinary citizens or foreign capital? July Moyo must choose
WE have followed, with interest, the ongoing developments on the Pomona dumpsite deal where Local Government minister July Moyo is pushing and defending the privatisation of the dumpsite. The deal was awarded to Geogenix BV, a Netherlands company. The US$344 million Pomona deal will cost residents of Harare US$22 000 per day for depositing waste. […]
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Mnangagwa mourns Major-General Nyathi
BY FREEMAN MAKOPA PRESIDENT Emmerson Mnangagwa has mourned the death of retired Major-General Sikhulile Simpson Nyathi, who died on Sunday at Josiah Magama Tongogara Barracks Referral Hospital in Harare. In a statement yesterday, Mnangagwa described Nyathi’s death as a blow to the nation. “It was with a deep sense of shock and sorrow that I […]
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European bank extends US$13m facility to NMB
BY MELODY CHIKONO THE European Investment Bank (EIB) has extended a EUR12,5 million (US$13,4 million) facility to NMB Bank as part of its private sector lending initiative for Zimbabwe. The seven-year facility to support business investment across Zimbabwe comes at a time when NMB Bank has been working on growing its agribusiness along with its […]
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Iron ore extends gains
In a positive sign, iron ore inventories at major ports plunged to their lowest levels for the year, reaching an eight-month low, according to Steelhome data. Iron ore topped up its biggest weekly gain in 13 weeks as traders tracked China’s moves to rein in Covid-19 restrictions that have weighed on steel demand this quarter. […]
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Battery export market charges Art Corporation
Dr Wushe Nelson Gahadza ART Corporation (ART) says the group remained resilient despite the challenges in the economy and registered moderate volume growth across its business units during the half-year ended March 31, 2022. ART is the holding company of a manufacturing group of businesses in Zimbabwe with distribution operations in Malawi, Zambia, Zimbabwe and […]
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