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Zim Agric Show dates moved

Yeukai Tazira and Lynn Munjanja THE Zimbabwe Agricultural Society (ZAS) has moved forward this year’s agricultural show dates by a week to accommodate both national and international stakeholders. Addressing the media yesterday, ZAS chief executive officer Dr Anxious Masuka said the re-branded Zimbabwe Agricultural Show, formerly Harare Agricultural Show, will …

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‘Nostro accounts balances won’t be compensated’

Balances in nostro foreign currency accounts will not be compensated as they are currently not covered by the Deposit Protection Corporation (DPC), in the event of bank failure, an official has said. Deposit protection is a scheme established by Government to protect depositors against loss of their insured deposits placed …

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Tobacco farmers pocket US$460m

Ishemunyoro Chingwere Business Reporter Tobacco farmers have been paid the equivalent of US$460 million, using interbank exchange rate, after delivering 233, 6 million kilograms of the golden leaf in the course of the current marketing season, Tobacco Industry and Marketing Board (TIMB) chief executive Dr Andrew Matibiri has said. Dr …

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‘RBZ can do more to force rate down’

Golden Sibanda Senior Business Reporter THERE is significant headroom for the foreign exchange rates to come further down, thereby reining in inflation and speculative price increases, but only if the Reserve Bank of Zimbabwe abides by Government policy to direct half the export earnings it statutorily retains to the interbank …

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Ban second-hand vehicles, says Nissan boss

BY MTHANDAZO NYONI Zimbabwe and other African countries should ban the importation of second hand vehicles and create their own indigenous automotive sectors that produce vehicles that are fit for their environment to accelerate industrialisation on the continent, an official has said. Nissan Group director of sales and operations for …

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Closed banks: Depositors to be compensated in Zimdollars

GOVERNMENT has instructed its insurer to compensate holders of nostro accounts in closed banks in either US dollars or the equivalent in local currency, it was revealed. Currently, the Deposit Protection Corporation (DPC) is overseeing the liquidation of six banks, namely, Genesis Bank, Royal Bank, Trust Bank, Interfin Bank, Allied …

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CBZ Holdings retrenches

BY FIDELITY MHLANGA ZIMBABWE’S largest financial services group, CBZ Holdings (CBZH), has retrenched more than 100 employees as banks reel under the worsening economic environment, NewsDay can exclusively reveal. The retrenchment exercise, which started early this month and is envisaged to continue until month end, could see the institution shedding …

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‘Zinara senior, executive managers earn hefty salaries’

BY TATIRA ZWINOIRA REVELATIONS that executive directors at the Zimbabwe National Road Administration (Zinara) earn $6 909,50, while senior management get between $3 721 and $4 523, with the lowest paid worker at the same company earning $375, have irked Parliamentarians. Zinara human resources manager Juliana Maphosa, who together with …

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