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Diasporans should pay for Air Zim services in US$: Cabinet

CABINET has resolved that Zimbabweans living in the diaspora should pay for Air Zimbabwe services in United States dollars, Transport and Infrastructural Development minister Joel Biggie Matiza has said. BY MTHANDAZO NYONI Responding to the Portfolio Committee on Transport and Infrastructural Development report presented during the 2018 pre-budget seminar held …

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Econet to surrender Liquid Telecom equity

ECONET Group has announced that it was selling its entire 51% stake in Liquid Telecom in a move meant to create an independent internet services provider. In a statement, Econet Group founder, Strive Masiyiwa, has said he is considering a separate listing next year for subsidiary Liquid Telecom, which could …

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Inflation likely to stabilise: Mangudya

BY MTHANDAZO NYONI Giving his presentation during the pre-budget seminar in Bulawayo last week, Mangudya said Zimbabwe’s annual inflation rate at 5,4% in September 2018 was still within Southern African Development Community’s inflation target range of 3-7% and comparable to regional peers. “RBZ is committed to contain inflation within growth-enhancing …

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New medical aid package launched

Herald Reporter Belvedere Medical Centre has introduced a new medical aid package — Save life Medical Aid Fund — aimed at providing quality and affordable services to patients. According to BMC, this package and any other services they offer at their hospitals are paid for using all forms of payment …

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Bindura gold milling centre reopened

Ishemunyoro Chingwere Business Reporter Government has lifted the suspension imposed on a gold milling centre in Bindura that was shut down last month over a myriad of allegations bordering on non-compliance with gold mining regulations. Timsite Entreprise milling centre was closed on October 4 after Mines and Mining Development Minister …

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Ministers killing parastatals: Agribank

Africa Moyo Senior Business Reporter AGRIBANK chief executive officer Mr Sam Malaba says undue interference by ministers is largely responsible for the under-performance of State Entities and Parastatals (SEPs). Mr Malaba said ministers appoint incompetent people as board of directors and when a new minister takes over the ministry usually …

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‘We won’t tolerate culture of siphoning public funds’

President Mnangagwa said yesterday the Government will continuously reform as well as use legal instruments to put a stop to all forms of white collar crimes used to siphon public funds for personal enrichment. Addressing the 3rd Annual Public Sector Audit Conference and Financial Management Awards, President Mnangagwa said the …

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Govt targets unremitted tax

Golden Sibanda Government will employ aggressive measures to collect unremitted tax revenue amounting to $3,3 billion, including interest, to clear Treasury’s $2,3 billion overdraft position with the Reserve Bank of Zimbabwe (RBZ), according to Finance and Economic Development Minister Professor Mthuli Ncube. The minister said the tax arrears of $3,3 …

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ZPC, Intratrek dispute rages on

Business Reporter INTRATREK Zimbabwe, which is entangled in contractual dispute with Zimbabwe Power Company (ZPC) over the Gwanda solar plant, has filed submissions to the High Court seeking an order compelling ZPC to allow it to fulfil terms of the project agreement or be paid $25 million damages for breach …

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Firm consumer demand drives Delta H1 profit, revenue

DELTA Corporation Limited posted a profit of $57,2 million in the six month period ended September 30, from the $32,3 million recorded last year due to a firm consumer demand. Revenue grew by 37% to $341,4 million from $250 million last year. BY FIDELITY MHLANGA Chairman Canaan Dube said the …

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