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Zimbabwe harbours wanted Irish Mafia cartel boss
A ZIMBABWEAN businessman, Adam Lincoln Woodington Wood, has allegedly been harbouring and enabling the activities of the founder of an Irish mafia gang, Christopher Vincent Kinahan, who is on the want...Published: 12 Feb 2023 at 07:33hrs | 130 | by Staff reporter
South Africa police to go on strike
The South African Police Union (SAPU) confirms that it has been issued a certificate to strike, which covers all labour unions affiliated to the South African Federation of Trade Unions (Saftu)....Published: 21 Sep 2022 at 19:47hrs | 2 | by Staff reporter
'Bidenism' has killed dollar dominance?
Time will tell whether Putin wins the sweepstakes of expansionism or the cost of economic distress eventually overwhelms Russia and him. However, some interesting shifts in geo-strategy are discernibl...Published: 15 Mar 2022 at 16:09hrs | 11 | by Vaishali Basu Sharma
Bulawayo gets major facelift
THE ongoing rehabilitation of 65 major roads in Bulawayo under the Government-funded Emergency Road Rehabilitation Programme 2 (ERRP2) is set to transform the face of the city and attract investment....Published: 25 Nov 2021 at 07:07hrs | 10 | by Staff Reporter
Parly demands role in IMF windfall use
ZIMBABWE'S parliament wants a huge say in the way government will distribute a nearly US$1 billion windfall injected recently into the economy by the International Monetary Fund (IMF).The wind...Published: 01 Oct 2021 at 08:05hrs | | by Staff reporter
Zanu-PF warns campaigning members
Zanu-PF has threatened to disqualify its members who are campaigning for top positions in its structures ahead of internal elections set for next month before being given the greenlight by the party l...Published: 06 Sep 2021 at 05:59hrs | | by Staff reporter
'Top bankers assigned to guard Zimbabwe's IMF windfall'
Finance Minister Mthuli Ncube laid out a solid spending plan for the US$961 million recently injected by the International Monetary Fund (iMF), saying the windfall would be guarded by three top banker...Published: 03 Sep 2021 at 07:01hrs | 2 | by Staff reporter
IMF funds to power Zimbabwe's economic agenda
The US$961 million boost received from the International Monetary Fund (IMF) last week will give impetus to the country's economic programmes guided by the five-year National Development Strategy 1 (N...Published: 29 Aug 2021 at 07:07hrs | 2 | by Staff reporter
United States imported COVID-19 vaccines into Zimbabwe to 'checkmate Zanu-PF?
Zimbabwe, facing a wave of new Covid-19 infections and a slow vaccination campaign, will only accept Chinese, Indian and Russian vaccines under the global vaccine distribution scheme COVAX, a spokesma...Published: 21 Jul 2021 at 10:31hrs | | by Staff reporter
MDC factions have bungled in running Harare
The MDC Alliance (MDC-A) faction leader, Nelson Chamisa, uses every opportunity he gets to pontificate about smart cities each time he has to talk of Zimbabwe's urban areas.Given the fact that...Published: 14 Jun 2021 at 06:17hrs | 1 | by Nobleman Runyanga
RBZ warns banks over forex abuse
The Reserve Bank of Zimbabwe (RBZ) has warned it will take punitive action against banks flouting exchange control regulations after noting rampant abuse of nostro (domestic) foreign currency accounts...Published: 24 May 2019 at 06:37hrs | 2 | by Staff reporter
Govt slashes Zupco fares
Government has, with effect from today, slashed Zimbabwe United Passenger Company (ZUPCO) bus fares by 50 percent, for both urban and rural trips, a situation that will see urban travellers paying 50 ...Published: 21 May 2019 at 06:22hrs | | by Staff reporter
Hwange Power Station funding under threat
Zimbabwe might face challenges accessing the US$1 billion loan facility from China Eximbank for Hwange Power Station expansion following the change of functional currency that resulted in funds that w...Published: 20 May 2019 at 06:28hrs | | by Staff reporer
Mnangagwa's govt in new US$5bn funding negotiations
A UNITED Kingdom-based international financial consultancy firm, ICG Capital and Finance Corps Limited — in partnership with five top-tier United States banks — has tabled a US$5 billion debt rest...Published: 03 May 2019 at 07:21hrs | 1 | by Staff reporter
Mnangagwa to replace POSA with Peace & Order Bill
CABINET yesterday approved the Maintenance of Peace and Order Bill which seeks to repeal the Public Order and Security Act (POSA), Protection of Personal Information Bill and the Freedom of Informatio...Published: 19 Feb 2019 at 22:36hrs | | by Staff reporter
Hwange extension project underway
The actual construction works for Zesa's US$1,4 billion Hwange Power Station (HPS) 7 and 8 extension project have started, giving hope the project will be completed within time and original budget, a ...Published: 04 Feb 2019 at 07:43hrs | 2 | by Staff reporter
Mnangagwa building Zimbabwe block by block
The fascination with negativity and self-hate is creating an artificial but widely accepted false narrative that everything in Zimbabwe is going backwards and that Zimbabwe is at its worst time....Published: 03 Feb 2019 at 11:47hrs | 2 | by Nick Mangwana
Mthuli Ncube draws downs US$20m for purchasing fuel
The government has drawn down US$20 million towards the purchase of 44 million litres of fuel as part of efforts towards improving the supplies of the commodity to industry and commerce, the Minister ...Published: 11 Jan 2019 at 18:56hrs | | by Staff reporter
National Foods shutting down
National Foods the largest manufacturers and marketers of food products in Zimbabwe and the Southern African Region has announced that it is shutting down.In a letter dated 3 December 2018, th...Published: 04 Dec 2018 at 08:27hrs | 2 | by Mandla Ndlovu
Supply, price of commodities normalise
Interventions by the government to normalise the supply of goods especially fuel and basic commodities are bearing fruit as fuel queues have disappeared with supermarkets shelves filled to the brim an...Published: 12 Nov 2018 at 18:17hrs | | by Staff reporter
'Queen Bee' company to supply Zimbabwe with 1.6 billion litres of fuel
THE fuel supply situation in the country has stabilised after local petroleum giant Sakunda Holdings and its partners last week provided Government with 100 million litres of fuel, which will only be ...Published: 30 Oct 2018 at 05:20hrs | 1 | by Staff reporter
Zimbabwe draws down $199 million for Hwange project
Zimbabwe has drawn down $199 million for the expansion of the Hwange Thermal Power Station (HPS), as the country presses ahead with efforts to ramp up local electricity generation. The expansi...Published: 23 Oct 2018 at 06:15hrs | | by Staff reporter
Obert Mpofu sued over $76k bank loan
LOCAL financial institution, CBZ Limited, has petitioned the High Court seeking an order to compel former Home Affairs minister, Obert Mpofu, his wife Sikhanyisiwe, and the couple's business, Trebo an...Published: 20 Sep 2018 at 06:50hrs | | by Staff reporter
NMBZ records half-year profit before tax of $11,8 million
NMBZ Holdings, NMB Bank's holding company, recorded a profit before tax of $11 757 594 for the half-year ended June 30, 2018, resulting in total comprehensive income of $9 086 483.This was an ...Published: 28 Aug 2018 at 16:19hrs | 7 | by Agencies
Kariba Dam water level rises to 82%
Kariba Dam's water level has risen markedly from a critically low level of about 20 percent last year to 83 percent; raising hope that significant benefits will continue to accrue from Kariba South Po...Published: 10 Jun 2018 at 09:23hrs | 1 | by Staff reporter
RBZ calls for calmness
ZIMBABWE started drawing down from the US$150 million African-Export Import Bank (Afreximbank) facility last week as authorities continue to locate avenues of stabilising the availability of key produ...Published: 04 Jun 2018 at 11:26hrs | | by Staff reporter
Serious work to revive NRZ begins
SERIOUS work to revive the National Railways of Zimbabwe is set to start in the near future amid indications that all outstanding legal issues to the $400 million recapitalisation deal are to be seale...Published: 02 May 2018 at 06:45hrs | | by Staff rpeorter
Kasukuwere's woes mount
Woes mount for Kasukuwere's brotherWoes continue mounting for former Local Government minister Saviour Kasukuwere's brother Stanley, after he was dragged before the High Court for failing to pay b...Published: 26 Apr 2018 at 09:06hrs | | by Staff reporter
Mnangagwa returns with a bagful of nothing?
President Emmerson Mnangagwa returned home yesterday from a highly fruitful trip to China, where his administration struck deals worth billions of dollars that will see new projects and those that sta...Published: 08 Apr 2018 at 09:07hrs | 1 | by Staff reporter
NMBZ achieves $10 million after-tax profit
NMBZ Holdings' profit before taxation for the year ended 31 December 2017 was $13 017 690. Profit after tax was $9 938 826, an increase of 96 percent over last year's after-tax figure of $5 058 166....Published: 22 Mar 2018 at 14:42hrs | 2 | by Mike Hamilton
RBZ draws $450m from nostro facility
The Reserve Bank of Zimbabwe (RBZ) has drawn down $450 million out of the latest $600 million nostro stabilisation facility secured from the Afreximbank last year, Reserve Bank of Zimbabwe governor Dr...Published: 29 Jan 2018 at 05:34hrs | | by Staff reporter
Illegal currency dealers counting losses
Some illegal currency dealers who stocked the US dollar over the weekend in anticipation of a monumental collapse of value of bond notes are beginning to count their losses as the surrogate currency r...Published: 28 Sep 2017 at 06:55hrs | 1 | by Staff reporter
NMBZ performing well, AGM told
NMBZ Holdings expects its June 30 half-year performance to be better than last year's and its 2017 performance to surpass that of 2016, barring a significant deterioration in the economy, its chief ex...Published: 24 May 2017 at 15:51hrs | | by Mike Hamilton
Rampant Corruption at Bindura University of Science Education exposed
Dear Mr Nguni, RE: UNABATED CORRUPTION AT BINDURA UNIVERSITY OF SCIENCE EDUCATIONWe write to you in the fervent hope that you will act swiftly to avert both the abuse of power and corr...Published: 23 May 2017 at 17:42hrs | 10 | by Concerned Law Abiding Citizens
Zesa fails to settle Eskom debt, massive load shedding feared
Zimbabwe might experience massive load shedding starting next week if Zesa Holdings fails to settle an outstanding power import bill of $43 million owed to Eskom of South Africa and Hydro Cahora Bassa...Published: 23 May 2017 at 06:46hrs | | by Staff reporter
Zimbabwe bank queues get longer
Despite authorities injecting more bond notes into the market and increasing their weekly importation of United States dollars by 50 percent, the government is dismally failing to stem the country's s...Published: 09 May 2017 at 10:28hrs | | by Staff reporter
Eskom to cut power supplies to Zimbabwe
South African power utility, Eskom, has given Zesa Holdings until the end of this month to clear its debt of $43 million, failure of which it threatens to cut 300 megawatts from the amount it is suppl...Published: 08 May 2017 at 05:08hrs | | by Staff Reporter
Afreximbank gives Zimbabwe a lifeline
Forex-starved Zimbabwe has been given a lifeline after the African Export-Import Bank (Afreximbank) availed two nostro stabilisation facilities amounting to $220 million.The facilities com...Published: 11 Apr 2017 at 06:58hrs | | by Staff reporter
The strange case of Zimbabwe's IMF's repayment
On 28 October 2016, Zimbabwe utilized part of its Special Drawing Rights (SDRs) to settle the US$108 million it owed to the IMF's Poverty Reduction and Growth Trust Fund (PRGT), which funds were held ...Published: 26 Oct 2016 at 22:28hrs | | by PDP
Cimas launches health and wellness plan
Cimas Medical Aid Society this (Tuesday) evening launched a health and wellness plan, dubbed iGo, that its members on its Private Hospital and MedExec packages can subscribe to. The plan encou...Published: 24 May 2016 at 17:11hrs | 5 | by Agencies
Bulawayo allays water fears
BULAWAYO City Council has allayed fears of possible water shortage in the city saying water levels in its dams guarantee supplies until December 2017.The Council's Director of Engineering Serv...Published: 14 Apr 2016 at 06:43hrs | | by Whinsley Masara
'Zimbabwe, Zambia failed to heed notice on Kariba'
Zimbabwe's intensifying power cuts are a result of failure to heed early warnings of depleting water capacity in Kariba Dam by both Zimbabwe and Zambia. Engineering Institution of Zambia presi...Published: 12 Oct 2015 at 08:25hrs | | by Staff reporter
Zimra boss fails to payback $1,5m debt, taken to court
Gershem Pasi, the Zimbabwe Revenue Authority (Zimra) commissioner general, is failing to pay back $1,5 million he borrowed from Interfin Banking Corporation Limited (Interfin) to fund operations for h...Published: 13 Jul 2014 at 16:08hrs | 5 | by Staff reporter
Mliswa says he will repay RBZ debt in Zimdollars
Under fire Zanu-PF Mashonaland West provincial chairperson-cum-businessman, Temba Mliswa, who reportedly owes the Reserve Bank of Zimbabwe (RBZ) $12,5 million, wants to repay the debt using the count...Published: 02 Apr 2014 at 13:05hrs | 9 | by Staff reporter
Hwange Colliery Company may accept US$50 million bailout package
Hwange Colliery Company Limited directors may accept shareholder Mr Nick van Hoogstraten's US$50 million bailout package provided the latter climbs down on his loan condition for management control, t...Published: 27 Dec 2013 at 05:09hrs | | by Business Reporter
AfrAsia Kingdom Bank on brink of collapse
AFRASIA Kingdom Bank has run into serious problems and is facing censure by the Reserve Bank after it emerged this week it is reeling from a massive US$21 million under-performing loan and could be ...Published: 10 May 2013 at 13:44hrs | 1 | by Business reporter
Water crisis looms in Gweru
Gweru could soon be hit by massive water shortages as raw water reserves at the city's main water sources have reached critical levels owing to inadequate rainfall the city has received since the star...Published: 26 Jan 2013 at 21:28hrs | 1 | by Staff reporter
Fired town clerk's maid on council payroll
Fired Chitungwiza town clerk Godfrey Tanyanyiwa, who was found guilty of several charges ranging from corruption, fraud to unlawful disobedience of lawful orders, had his housemaid on council payroll,...Published: 03 Jun 2012 at 07:34hrs | | by Staff reporter
Zimplats revenues drop to $133 million
Zimbabwe Platinum Mines (Zimplats) registered a nine percent slump in revenues to $133 million in the first quarter ended September 2011 amid rising production costs and lower volumes, The Daily News...Published: 02 Nov 2011 at 19:53hrs | | by Matthews Estell
Meikles to exchange $30m of Cape Grace, for equity in Mentor Holdings
All necessary approvals have been received for the exchange of the Meikles Group's investment in Cape Grace Hotel, for equity in Mentor Holdings. Mentor Holdings is a significant private equity gr...Published: 22 Aug 2011 at 05:55hrs | | by Nare Msupatsila
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