Home / Business (page 4)

Business

Prosperity is certain—ED

Africa Moyo Senior Business Reporter President Emmerson Mnangagwa has reassured the nation that “prosperity is certain”, despite the economic headwinds currently being experienced. In his Independence address last Thursday, President Mnangagwa said a number of initiatives have been set in motion to ensure the economy turns around for the benefit …

Read More »

Record entries for 60th ZITF

Oliver Kazunga Bulawayo Bureau The 60th edition of the Zimbabwe International Trade Fair (ZITF) begins in Bulawayo today with record breaking subscription at 532 direct local exhibitors and 16 countries participating. The figure compares favourably with 491 direct local exhibitors recorded the same time last year, showing growing positive business …

Read More »

Premier abandons Shamva gold deal

Tawanda Musarurwa Senior Business Reporter Zimbabwe – focused mining group Premier African Minerals, has abandoned its earlier plans to acquire a 50 percent stake in Honey Badger Resources, a gold project along the Harare-Shamva Highway. The company has also terminated plans to acquire another 50 percent stake in the KME …

Read More »

Be realistic: Business tells ED

GOVERNMENT needs to be realistic about the economic situation in the country, captains of industry have said. They were reacting to statements made by President Emmerson Mnangagwa in his keynote speech at celebrations to mark the country’s 39th Independence anniversary. An angry Mnangagwa on Thursday described recent price increases of …

Read More »

Zim public finances in bad shape: Zimcodd

ZIMBABWE’S public finance management is characterised by growing fiscal leakages, lack of transparency, accountability and continuous violation of legal and constitutional provisions, the Zimbabwe Coalition on Debt and Development (Zimcodd) has said. In its concept paper presented at a Public Finance Management (PFM) Reform Indaba in Bulawayo last week, Zimcodd …

Read More »

SA forced into emergency bailout to troubled Eskom

JOHANNESBURG — Less than a week after the boss of South Africa’s Eskom Holdings SOC Ltd declared “the days of surprises are over,” documents show the government was forced to pay R5 billion ($355,2 million) in emergency funds so the State-based utility could meet obligations. The payment on April 2 …

Read More »

Guinean President oversees bauxite mine

The office of Guinean President Alpha Conde is assuming oversight of the West African nation’s state-owned mining company in a move that will hand him more authority over the country’s holdings in some of world’s biggest bauxite deposits. The Presidency will take command of Societe Guinneenne du Patrimoine Minier, known …

Read More »

GM boss takes pay cut

General Motors Co. Chief Executive Officer Mary Barra took a 0.4 percent pay cut last year, as the largest U.S. automaker pulled off the rare feat of uniting Washington in opposition to its plan to close four factories in America. Barra made about US$21.9 million in 2018, with her pay …

Read More »

Nedbank ordered to return $3m to client

Business Reporter NEDBANK Zimbabwe has been ordered to return close to $3 million it had unlawfully taken from its client, Mega Market (Private) Ltd, after making some foreign currency payment to the client’s suppliers. Mega Market had sued Nedbank for unilaterally debiting and crediting its bank accounts applying the new …

Read More »