BUSINESS NEWS

UK cranks heat on Mnangagwa

BRITAIN is turning up the heat on President Emmerson Mnangagwa and his government to urgently implement much-needed political and economic reforms, as well as end corruption and human rights abuses in...

By Staff reporter | Published: 07 November 2019

BUSINESS NEWS

Decriminalise gold possession: Miners

ZIMBABWE Miners Federation president Henrietta Rushwaya has called on government to re-align mining laws to decriminalise the possession of gold to increase production by artisanal miners.Speaking at ...

By Staff reporter | Published: 07 November 2019

BUSINESS NEWS

'US ban hurts Marange diamonds'

The Zimbabwe Consolidated Diamond Company (ZCDC) yesterday said the decision by the United States to issue a withhold release order (WRO) for artisanal rough cut diamonds from Marange was impacting ne...

By Staff reporter | Published: 07 November 2019

BUSINESS NEWS

Riot police block civil servants demo

CIVIL servants have threatened to completely down tools and escalate their fight for better wages after police yesterday blocked their march to hand over petitions to Finance and Labour ministers.The ...

By Staff reporter | Published: 07 November 2019

BUSINESS NEWS

AMG boss proposes gold-backed Zimbabwe currency to RBZ

A leading South Africa precious metals dealer African Medallion Group (AMG) has proposed to the Reserve Bank of Zimbabwe (RBZ) the launch of a digital currency backed by physical gold, with an aim to ...

By Staff reporter | Published: 07 November 2019

BUSINESS NEWS

Matsekete replaces Mushosho as Old Mutual CEO

Old Mutual has announced First Capital Bank MD Sam Matsekete as CEO-Designate. This follows Matsekete's resignation from the banking group effective January 1, 2020.He will take over from Jonas Mushos...

By Staff reporter | Published: 07 November 2019

BUSINESS NEWS

ZETDC vending system crashes

THE Zimbabwe Transmission Distribution Company (ZETDC) has directed consumers to revert to physical banking halls to purchase electricity tokens following technical glitches which have crippled its pr...

By Staff reporter | Published: 29 October 2019

BUSINESS NEWS

'Sanctions to blame for outdated ICT infrastructure'

THE country requires robust state-of-the-art infrastructure for ICTs to be competitive in line with the global trends, Information Communication Technology and Courier Services Minister Kazembe Kazemb...

By Staff reporter | Published: 29 October 2019

BUSINESS NEWS

Chasi proposes 30-year sentence for Zesa vandals

Energy and Power Development Minister Fortune Chasi has proposed a 30-year mandatory prison sentence for vandalising ZESA infrastructure. This comes after the power utility has suffered losses amounti...

By Staff reporter | Published: 29 October 2019

BUSINESS NEWS

No more need to queue for fuel

LOCAL company ezFuelapp.com has launched its first patent registered mobile application which enables Zimbabweans to purchase fuel online.  The mobile application is now available for download on...

By Staff reporter | Published: 22 October 2019

BUSINESS NEWS

Hwange station needs complete overhaul

SUBDUED power generation at Hwange Power Station is contributing to prolonged load shedding as only four units out of six are operating, general manager for the plant, Engineer Arnold Chivurayise, has...

By Staff reporter | Published: 22 October 2019

BUSINESS NEWS

Fuel prices remain unchanged

THE Zimbabwe Energy Regulatory Authority (Zera) said on Saturday that the country's fuel prices remain unchanged for this week, much to the relief of motorists used to weekly price increases. This i...

By Staff reporter | Published: 22 October 2019

BUSINESS NEWS

600MW Hwange plant takes shape

WORK on the expansion of the Hwange Power Station Stage 7 and 8 expansion is on track with 26 percent ground work having been covered so far, Sunday Business has learnt.The Government contracted Chine...

By Staff reporter | Published: 22 October 2019

BUSINESS NEWS

The future is tech, Mnangagwa

President Mnangagwa yesterday challenged the Harare Institute of Technology (HIT) and other local universities to become centres of economic revival leveraging on technology. He said it was important ...

By Staff reporter | Published: 22 October 2019

BUSINESS NEWS

Peter Moyo wants Trevor Manuel and other Old Mutual directors jailed

Axed Old Mutual CEO Peter Moyo says there is no punishment befitting Old Mutual directors other than six months' jail time, without the option of a fine, on the contempt of court charges he lodged aga...

By Staff reporter | Published: 18 October 2019

BUSINESS NEWS

High money supply keeps inflation up

The spectre of sustained high inflation remains a real threat after Zimbabwe's annual broad money grew 81 percent to $17 billion in the 12 months to July 2019 driven by growth in foreign currency acco...

By Staff reporter | Published: 18 October 2019

BUSINESS NEWS

TBs appetite dries up

Zimbabwe failed to raise the targeted amount through Treasury Bills in the last two auctions, underlining the huge disconnect between inflation "realities" being experienced by investors and expectati...

By Staff reporter | Published: 18 October 2019

BUSINESS NEWS

UK think tank sees Zimdollar firming

The Zimbabwe dollar is expected to largely stabilise next year before it starts firming against the US dollar on the back of growing confidence in the domestic currency.The local currency would fall t...

By Staff reporter | Published: 18 October 2019

BUSINESS NEWS

Mnangagwa targets 'troublesome' doctors

PRESIDENT Emmerson Mnangagwa yesterday threatened 'troublesome' union leaders reported to be inciting the strike by doctors at public health institutions."Last month we gave them an increment twice, b...

By Staff reporter | Published: 18 October 2019

BUSINESS NEWS

Mnangagwa encourages industries to export 20% of their produce

President Emmerson Mnangagwa (pictured) yesterday urged companies and producers to export 20% of their produce to the foreign markets, but retain 80% for local markets.Mnangagwa made the remarks while...

By Staff reporter | Published: 18 October 2019

BUSINESS NEWS

Energy ministry secretary grilled over Zesa rebundling, tariffs

MINISTRY of Energy secretary Gloria Magombo was yesterday grilled by Parliament over issues of rebundling of Zesa with MPs questioning why an institution that was recently unbundled was now being rebu...

By Staff reporter | Published: 18 October 2019

BUSINESS NEWS

Zimbabweans told to brace for more misery

THE World Bank (WB) has warned that Zimbabwe's economy faces massive turmoil unless the country gets much-needed international assistance urgently, the Daily News reported. This comes as the country i...

By Staff reporter | Published: 18 October 2019

BUSINESS NEWS

Mthuli Ncube to pull a few tricks to stabilise the exchange rate

The government will pull a few tricks up its sleeves soon to stabilise the exchange rate as part of a broader task of creating a viable environment for business, Business Times reported.A team of Pres...

By Staff reporter | Published: 18 October 2019

BUSINESS NEWS

Zesa announces more load shedding

ZIMBABWEANS should brace for worse load shedding following "severe supply constraints" being experienced at South African power utility Eskom. The national power utility advised consumers about the la...

By Staff reporter | Published: 18 October 2019

BUSINESS NEWS

Energy Perm sec under ZACC probe

The Zimbabwe Anti-Corruption Commission (Zacc) is probing Gloria Magombo, the permanent secretary of the Ministry of Energy and Power Development on allegations that she has been drawing a salary fr...

By Staff reporter | Published: 18 October 2019
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