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Mnangagwa niece's legacy woes haunt ZBC
THE Zimbabwe Broadcasting Corporation (ZBC) is grappling with serious management challenges linked to Helliate Rushwaya - the newly appointed board chair - during her tenure as the acting chief execut...Published: 10 Mar 2024 at 06:51hrs | 1619 | by Staff reporter
Mthuli Ncube sees $18bn debt talks on course despite US exit
Talks on the restructuring of Zimbabwe's $18 billion debt remain on track, even after the US paused its involvement in the discussions, Finance Minister Mthuli Ncube said.The discussions led b...Published: 07 Mar 2024 at 05:13hrs | 554 | by Staff reporter
Go Beer to reopen in 8 months
GWERU mayor Martin Chivhoko has announced that the local authority's beer concern, Go Beer will commence production in November this year.Chivhoko said a memorandum of agreement had been signe...Published: 07 Mar 2024 at 05:09hrs | 393 | by Staff reporter
Mnangagwa regime doing the work of US sanctions in Zimbabwe!
My own views on this sanctions issue have always been that we needed to prove these measures were the cause of our suffering. I have never denied that there have been targeted sanctions impose...Published: 06 Mar 2024 at 23:01hrs | 404 | by Tendai Ruben Mbofana
Zidera is the primary obstacle Zimbabwe's economic progress
INDUSTRY leaders have pleaded for the total removal of the sanctions programme under the Zimbabwe Democracy and Economic Recovery Act (Zidera), citing them as the primary obstacle to the economic prog...Published: 06 Mar 2024 at 20:54hrs | 135 | by Staff reporter
Gweru to revive Go Beer Breweries
Gweru city council is locked in talks with an unnamed investor to revive the local authority's beer concern, Go Beer, in a bid to start operations this year, it has been established.Mayor Mart...Published: 11 Feb 2024 at 21:09hrs | 210 | by Staff reporter
Zimbabwe debt clearance talks on despite US disengagement
THE United States, through its embassy in Harare, has decided to disengage from participation in Zimbabwe's debt resolution and clearance programme and the round of negotiations resuming next month....Published: 23 Jan 2024 at 04:37hrs | 242 | by Staff reporter
Shaky ground hinders Redwing Mine rescue efforts
UNSTABLE ground at Redwing Mine in Penhalonga, Manicaland province, has reportedly stalled efforts to rescue nearly a dozen artisanal miners trapped underground on Thursday.In a statement, Met...Published: 05 Jan 2024 at 16:29hrs | 411 | by Staff reporter
Hwange Colliery pays off US$350m debt
ZIMBABWE'S oldest coal producer, Hwange Colliery has repaid over US$350 million to creditors in fast-paced deals executed by external administrators since slipping into reconstruction over a year ago,...Published: 15 Dec 2023 at 07:52hrs | 304 | by Staff reporter
A weird Presidency
GOOD day, President Emmerson Mnangagwa. Your Excellency, the appointment of the Commander of the Defence Forces, General Philip Valerio Sibanda to the Zanu-PF politburo as an ex-officio member, (by vi...Published: 09 Nov 2023 at 05:55hrs | 528 | by Cyprian M Ndawana
Zupco can't account for ZW$3bn
THE loss-making Zimbabwe United Passenger Company (Zupco), which has been embroiled in numerous corruption scandals, has failed to account for ZW$3.4 billion in revenue it generated in urban areas, du...Published: 06 Nov 2023 at 21:21hrs | 909 | by Staff reporter
Zimbabwe GDP to grow by 4,8%
The International Monetary Fund (IMF) has reported that Zimbabwe's real gross domestic product is expected to grow by approximately 4.8 percent in the current year, driven primarily by robust performa...Published: 26 Oct 2023 at 06:26hrs | 59 | by Staff reporter
Zimbabwean cigarette company's empire up in smoke
The Pacific Cigarette Company (PCC), formerly known as Savanna Tobacco Company, has been granted its request to undergo voluntary business rescue due to alleged tax violations and outstanding obligati...Published: 10 Oct 2023 at 06:10hrs | 4957 | by Staff reporter
Adam Molai's Pacific Cigarette Company forced into voluntary corporate rescue
Pacific Cigarette Company (PCC), led by local business magnate Adam Molai, has voluntarily initiated corporate rescue proceedings due to a substantial $19 million tax liability. This move comes amid a...Published: 09 Oct 2023 at 16:00hrs | 700 | by Staff reporter
Men are not angels, Mr President
GOOD day, President Emerson Mnangagwa. Your Excellency, the August 23 and 24 harmonised elections left no electoral fundamental standing. They were a sham and conspicuous by hollowness.They we...Published: 04 Oct 2023 at 06:08hrs | 515 | by Cyprian Muketiwa Ndawana
Mnangagwa planning to resume talks on restructuring $14 billion of unpaid debt
Zimbabwe's President, Emmerson Mnangagwa, is planning to resume talks on restructuring $14 billion of unpaid debt, despite ongoing divisions over disputed elections in the country. Mnangagwa hopes to ...Published: 02 Oct 2023 at 06:30hrs | 296 | by Staff reporter
ZIFA set to appoint new CEO
ZIFA is on track to welcome a new leader to its secretariat by mid-October, with reports indicating that the Normalisation Committee has concluded interviews for the position of a new chief executive ...Published: 01 Oct 2023 at 07:29hrs | 104 | by Staff reporter
Mnangagwa to replace Mangudya as RBZ boss?
A GLOBAL recent ranking of central bank governors has given Zimbabwe's John Mangudya the lowest grade amid speculation that he may be replaced as President Emmerson Mnangagwa reshapes his administrati...Published: 28 Sep 2023 at 16:03hrs | 3122 | by Staff reporter
Makomo Resources back on its feet
HWANGE-based coal miner, Makomo Resources, has resumed operations after securing a contractor.Makomo, once the country's largest coal miner, went under corporate rescue, a form of bankruptcy p...Published: 25 Aug 2023 at 06:27hrs | 227 | by Staff reporter
Joachim Chissano attends Mnangagwa rally
Former Mozambican president Joachim Chissano on Saturday attended President Emmerson Mnangagwa's star rally in Midlands amid reports he would also attend opposition CCC leader Nelson Chamisa's own ral...Published: 20 Aug 2023 at 09:47hrs | 15 | by Staff reporter
Joachim Chissano to attend Chamisa's rally
Former President of Mozambique, Joachim Chissano is attending Zanu-PF's last presidential star rally in President Emmerson Mnangagwa's home province of Midlands.Chissano is one of most illustr...Published: 19 Aug 2023 at 16:40hrs | 57 | by Staff reporter
Zimbabwe to clear its foreign debt by the end of 2025
ZIMBABWEAN Finance Minister Mthuli Ncube says Harare will do all it can to clear its foreign debt by December 2025 to open fresh lines of credit that would help in revamping the floundering economy....Published: 07 Aug 2023 at 06:36hrs | 2 | by Staff reporter
Econet, EcoCash announce rights offer
LISTED telecoms firm Econet Wireless Zimbabwe Limited (EWZL) and its subsidiary EcoCash Holdings yesterday announced a renounceable rights issue to raise US$30,3 million for the redemption of existing...Published: 25 Jul 2023 at 08:23hrs | 34 | by Staff reporter
Zimbabwe election offers regime a last chance to end financial isolation
JEFFRIES Ncube looks around Zimbabwe's second city and fallen industrial heartland and observes that, for all President Emmerson Mnangagwa's promises to resurrect a ruined economy, many of Bulawayo's ...Published: 24 Jul 2023 at 06:41hrs | 1 | by Staff reporter
Zimbabwe central bank owes over $4bn for food, fuel supply
Zimbabwe's central bank has racked up debts of more than $4 billion to banks and companies, including commodities giant Trafigura Group and national flag carrier South African Airways.The Rese...Published: 22 Jul 2023 at 08:07hrs | 10 | by Staff reporter
Zimbabwe sugar estates to be sold to Tanzania's Kagera Sugar
South Africa's Tongaat Hulett is to sell its sugar estates, including those in Zimbabwe, to Kagera Sugar, one of East Africa's largest sugar producers.This is part of a plan to rescue Tongaat ...Published: 21 Jul 2023 at 18:23hrs | 17 | by Staff reporter
Nigerian billionaire's US$1 billion Zimbabwean mining deals stall
NIGERIAN oil and gas billionaire Benedict Peters' massive investment plans to shell out over US$1 billion into a local platinum mining project and more into lithium, iron ore, tin, gold and rare earth...Published: 16 Jul 2023 at 13:54hrs | 70 | by Staff reporter
Harare City Council backs down on US dollar billing
The Harare City Council (HCC) has reversed its controversial decision to bill rate payers in US dollars only following a treasury order for the local authority to abandon the action.Town House...Published: 05 Jul 2023 at 07:11hrs | 2 | by Staff reporter
Tsholotsho RDC upbeat after getting town status
Tsholotsho Rural District Council (RDC) officials are upbeat following the decision by the government to award the centre township status.Tsholotsho RDC acting chief executive officer Lo...Published: 03 Jul 2023 at 07:14hrs | | by Staff reporter
Why Mnangagwa blocked Mthuli Ncube's export tax
PRESIDENT Emmerson Mnangagwa recently blocked Finance minister Mthuli Ncube's 10% tax on mining exports to pay arrears on the country's debt overhang - which makes it difficult for the government to b...Published: 02 Jul 2023 at 17:27hrs | 19 | by Staff reporter
CSC takeover deal hits fresh turbulence
COLD Storage Company (CSC) corporate rescue practitioner has filed an urgent High Court application seeking the suspension of a Livestock Farming Concession Agreement (LFCA) signed between government ...Published: 02 Jul 2023 at 07:44hrs | 14 | by Staff reporter
TelOne suffers US$7,4m loss
SATE-OWNED telecom firm, TelOne, says government's delay in paying its debt has caused a loss of US$7,4 million on its balance sheet as the local currency continues to depreciate.The Zimdollar...Published: 30 Jun 2023 at 14:31hrs | 1 | by Staff reporter
Western backed Zambia wins debt relief
Zambia reached an agreement in principle to restructure US$6,3 billion of debt with bilateral lenders, setting a precedent for a growing list of countries struggling to service their liabilities....Published: 26 Jun 2023 at 06:45hrs | 1 | by Staff reporter
Mnangagwa's 5 election hurdles
AFTER days of political drama, anxiety and bated breath, President Emmerson Mnangagwa proclaimed the election date, setting the stage for a season of intrigue, joy and heartaches. Zimbabwe decides on ...Published: 05 Jun 2023 at 19:06hrs | 12 | by Staff reporter
Redwing: a tale of plunder, impunity, chaos and death
Redwing Gold Mine, once touted as a giant gold mining venture capable of transforming the quality of life in the Penhalonga area of Manicaland province and a cash cow for the national economy, has bec...Published: 04 Jun 2023 at 12:12hrs | 20 | by Staff reporter
Zimbabwe needs to manage her debts
DEBT plays an important role in the resource mobilisation strategy of any country.However, the processes of its contraction, sources, structure and its implications on the economy and the live...Published: 03 Jun 2023 at 08:19hrs | 2 | by Zimcodd
Mnangagwa says he's grateful for debt, arrears plan
Zimbabwe is grateful to development partners and creditors for embracing the resolution process of arrears clearance and debt, and hopes that if debts are rescheduled or written off, the economy will ...Published: 30 May 2023 at 06:41hrs | 2 | by Staff reporter
Mnangagwa to visit Malawi
PRESIDENT Mnangagwa is expected to embark on a three-day State Visit to Malawi on Wednesday to discuss matters of mutual interest between the two African countries.In a statement, Malawi's Min...Published: 29 May 2023 at 06:30hrs | | by Staff reporter
Economic sanctions continue to place Zimbabwe further into unsustainable debt
Finance minister Enoch Godongwana says the government supports Zimbabwe's implementation of key reforms to resolve its debt problems and end 21 years of sanction.If successful, such moves can ...Published: 26 May 2023 at 16:26hrs | | by Staff reporter
Mnangagwa must not deliver another Lima
WHITE commercial farmers forced off their land over 20 years ago have waited since 2018 — when government agreed to a compensation deal — to receive their settlements. It is important to note that...Published: 26 May 2023 at 06:41hrs | 14 | by Staff reporter
Ball is in Mnangagwa's court
LAST week, Zimbabwe continued with its structured debt clearance dialogues with foreign creditors owed over US$14 billion, as the country makes important steps to weave its way out of the debt hole....Published: 26 May 2023 at 06:37hrs | 8 | by Staff reporter
Master of High Court backs Telecel rescue
THE Master of the High Court has backed the application by the Communications and Allied Workers Union (CAWUZ) seeking to place the cellular services company, Telecel Zimbabwe, under corporate rescue,...Published: 26 May 2023 at 06:31hrs | 1 | by Staff reporter
Zimbabwe commits to resolve debt, arrears
PRESIDENT Mnangagwa yesterday committed to resolve Zimbabwe's long overdue debt arrears, and re-engaging with development partners and creditors to reposition the economy for sustained growth anchored...Published: 25 May 2023 at 06:23hrs | 5 | by Staff reporter
Telecel denies corporate rescue proceedings
EMBATTLED telco, Telecel Zimbabwe (Pvt) Ltd (Telecel) has dismissed its placement under "corporate rescue proceedings" first announced in a notice in the Government Gazette dated May 12, 2023....Published: 24 May 2023 at 06:02hrs | 2 | by Staff reporter
Mnangagwa disappointed by some members of the business community
PRESIDENT Mnangagwa is disappointed by some members of the business community whose conduct continues to frustrate Government efforts to stabilise the economy and the current wave of price increases o...Published: 23 May 2023 at 06:36hrs | 183 | by Staff reporter
Zimbabwe debt clearance tied to farmers' compensation and credible polls
THE African Development Bank has moved to fast-track Zimbabwe's $3.5 billion compensation to white farmers whose land was seized under former president Robert Mugabe's reforms. The bank is leading eff...Published: 22 May 2023 at 06:40hrs | | by Zeenat Hansrod
Mnangagwa leaves for AfDB forum in Egypt
President Mnangagwa is expected here today to join over 3 000 delegates who include Heads of State and Government, central bank governors and members of the development community, at the 58th annual m...Published: 22 May 2023 at 06:25hrs | 1 | by Staff reporter
Zimbabwe is poor because of IMF
THE International Monetary Fund (IMF)'s programmes have come under fire from civil society, which claims they have lasting repercussions on public service delivery, development, and poverty.Th...Published: 21 May 2023 at 08:12hrs | 1 | by Staff reporter
Zimbabwe ups tempo on debt resolution
President Mnangagwa's scheduled engagements at the African Development Bank (AfDB)'s annual meetings in Sharm el-Sheik, Egypt, this week will add impetus to Zimbabwe's arrears clearance and debt resol...Published: 21 May 2023 at 08:02hrs | | by Staff reporter
'Zimbabwe debt resolution will open funding floodgates'
THE successful conclusion of discussions on Zimbabwe's arrears clearance and debt resolution will lay a firm foundation for the lifting of economic sanctions and help to unlock fresh and affordable ex...Published: 21 May 2023 at 08:02hrs | 1 | by Staff reporter
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