$30 million availed for roads in Manicaland Province

GOVERNMENT has released $30 million in the last six months to the Emergency Road Rehabilitation Programme in Manicaland to repair and reconstruct major roads in the province that had suffered from years of neglect and adverse weather conditions. The funding was availed by the Zimbabwe National Roads Administration and the …

Read More »

Comesa honours outgoing secretary general Ngwenya

Oliver Kazunga Bulawayo Bureau THE Common Market for Eastern and Southern Africa (Comesa) has honoured the outgoing secretary general Mr Sindiso Ngwenya in recognition of his distinguished service in regional integration. In a statement, Comesa said Mr Ngwenya was leaving the organisation next week after serving for a maximum two …

Read More »

DPC bails out depositors

The Deposit Protection Corporation (DPC), which was set up by Government in 2003 in response to high levels of bank failures, says it has played its role remarkably up to now. The DPC, which pays depositors when a bank closes, is currently making payments for AfrAsia Bank, Allied Bank, Interfin …

Read More »

Brace for more Chinese investment

Zimbabwe should brace for more investments and mega deals from China after Monday’s harmonised elections that were peaceful, head of a Chinese election observer mission to the just-ended elections Mr Liu Guijin said yesterday. Speaking after meeting Foreign Affairs and International Trade Minister Dr Sibusiso Moyo at his Munhumutapa offices, …

Read More »

Bank urged to dump economic variables

THE Reserve Bank of Zimbabwe (RBZ) should not be involved in the management of economic variables like farming, as that would result in the central bank incurring unsustainable debts, a financial expert has said. BY MTHANDAZO NYONI Speaking at the Institute of Chartered Accountants of Zimbabwe (Icaz) in Victoria Falls …

Read More »

RBZ warned against TBs, overdrafts

South African research firm, Emergent Africa, has warned the Reserve Bank of Zimbabwe against financing fiscal imbalances using Treasury Bills (TBs) and overdrafts, saying this had negative consequences on the country’s overall macro-economic stability. BY TATIRA ZWINOIRA The firm, in its Zimbabwe: A Return to Normalcy report released recently, said …

Read More »

Business happy with poll conduct

Business Reporter Industry has lauded Zimbabweans for conducting themselves in a peaceful and mature manner during the whole campaign period until the commencement of voting yesterday and is pinning hopes for major economic turnaround after the harmonised polls. Previous poll campaign periods have been characterised by some political skirmishes that …

Read More »

Schweppes to venture in oranges production

Martin Kadzere Senior Business Reporter Schweppes Zimbabwe Ltd intends to venture into production of oranges as the company seeks to boost feedstock for its juice processing plant in Beitbridge, according to the group’s chief executive. Schweppes currently gets oranges from the orchards around Beitbridge, which are under severe pressure from …

Read More »

BAT looks to use shareholder’s dividend

Business Reporter The country’s biggest cigarette manufacturing company BAT Zimbabwe says it is looking at ways of utilising dividend funds belonging to its major shareholder British American Tobacco Plc’s following its failure to repatriate pay-outs. The cigarette manufacturer is sitting on more than $12 million belonging to its major shareholder …

Read More »

Rand weak

The rand was slightly weaker last Thursday, taking breather after racing to a six-week high against the dollar. Receding fears of a global trade war have contributed a great deal to the recovery of the rand, though recent pledges by China and several other countries to invest in SA have …

Read More »