RBZ secures $1,3bn offshore loans for industry

THE Reserve Bank of Zimbabwe (RBZ) has managed to secure $1,3 billion offshore loans through the African Export-Import Bank (Afreximbank) and Trafigura to support production and promote exports, an official has said. BY MTHANDAZO NYONI Speaking during a ZimTrade-Banks export awareness seminar held in Bulawayo yesterday, the central bank’s principal …

Read More »

RBZ secures $1,3bn offshore loans for industry

THE Reserve Bank of Zimbabwe (RBZ) has managed to secure $1,3 billion offshore loans through the African Export-Import Bank (Afreximbank) and Trafigura to support production and promote exports, an official has said. BY MTHANDAZO NYONI Speaking during a ZimTrade-Banks export awareness seminar held in Bulawayo yesterday, the central bank’s principal …

Read More »

Millers turn to NGOs for rescue package

Local millers have turned to international non-governmental organisations (NGOs) to secure $100 million required for the importation of rice, wheat and other grains amid a worsening foreign currency crisis. BY NDAMU SANDU Under the arrangement, the NGOs would pay for the importation on behalf of millers who would pick up …

Read More »

Wage growth ‘missing in action’

The weak wage growth that’s characterised global labour markets since the financial crisis has hit poorer workers most, compounding inequalities and fuelling dissatisfaction, according to the OECD. The Paris-based body said pay increases are “missing in action” even with rising employment, and any gains haven’t been equally distributed. In its …

Read More »

Voluntary disclosure

The Zimbabwe Revenue Authority (Zimra) encourages taxpayers to review their tax affairs and make voluntary disclosures where there is any income omitted from returns submitted or where there are any tax obligations that the taxpayer may not have complied with. The intention is to encourage voluntary compliance from taxpayers and …

Read More »

Business fails to take up export opportunities

Zimbabwean businesses are failing to take advantage of export opportunities in the region, leaving South African companies to exploit them, ZimTrade acting chief executive Allan Majuru told the NMBZ exporters breakfast meeting last week. He said that South African trucks were passing through Zimbabwe carrying exports to Tete Province in …

Read More »

African Sun appoints new chairman

Hospitality group, African Sun Limited, has appointed Mr Alex Makamure as the new board chairman with effect from June 29, 2018. Mr Makumure takes over the reign of the board from Herbert Nkala, who stepped down on June 28. Prior his ascendency to board chair, Mr Makamure served as the …

Read More »

RBZ brings in $1,3bn off-shore loans

THE Reserve Bank of Zimbabwe (RBZ) has between November 2017 and May this year successfully negotiated for $1,3 billion off-shore loans to support the economy, an official said yesterday. Speaking during a ZimTrade-Banks breakfast seminar in Bulawayo, RBZ financial markets division principal analyst Mr Tapiwa Furusa said the $1,3 billion …

Read More »

Europe’s deal on migration a failure

European Union leaders say they have a new deal on migration. It’s hardly that: They came up with a text but no clear agreement on what to do. The plan is a muddle that leaves important details blank. Most important, it ducks the main challenge: to devise a common EU …

Read More »

Gold imports slump

Imports slumped more than 25 percent to 54 tonnes in June from a year earlier, a person familiar with the information said, asking not to be identified as the figures aren’t public. Overseas purchases plunged 40 percent to 343 tonnes in the first half from a year ago, according to …

Read More »