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Zinara tightens screws on road contractors
THE Zimbabwe National Road Administration (Zinara) has tightened its screws on companies contracted by the government to rehabilitate national roads after some companies were blamed for substandard wo...Published: 24 Feb 2024 at 15:13hrs | | by Staff reporter
Medical scheme in graft accusations
Medical Aid Society Central Africa (MASCA) has been accused of mismanagement amid indications its reserved funds were sitting at zero.It is said that three top management officials are accused...Published: 28 Nov 2023 at 14:19hrs | 150 | by Stephen Jakes
Mnangagwa sets up committee for Bulawayo water
PRESIDENT Mnangagwa has approved the appointment of a 20-member Bulawayo Water Technical Committee to oversee the rapid improvement of water and sanitation services in the city over a 100-day period....Published: 18 Nov 2023 at 09:32hrs | 10 | 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 | 1 | by Staff reporter
Zimbabwe dam levels decline
The Zimbabwe National Water Authority (Zinwa) says water levels in the country's major dams remain on a declining trajectory owing to the intensified winter cropping irrigation activity and water draw...Published: 20 Jul 2023 at 16:18hrs | 9 | by Staff reporter
Zimbabwe requests US$17m for Zambezi project
ZIMBABWE is set to make a US$17 million drawdown as part of an African Development Bank package for the Programme for Integrated Development and Climate Change in the Zambezi Basin (Pidacc Zambezi)....Published: 25 Feb 2023 at 07:09hrs | 10 | by Staff reporter
Mnangagwa's govt turns to Treasury bills, bonds
THE cash-strapped government is likely to print money to finance its $575,5 billion budget deficit, economic analysts warned yesterday after Finance minister Mthuli Ncube announced next year's $4,5 tr...Published: 25 Nov 2022 at 05:12hrs | | by Staff reporter
No joy in Mthuli Ncube's budget
CALLS by Zimbabwe's restive civil service for United States dollar salaries went unheeded by Finance minister Mthuli Ncube yesterday.Ncube doubled the national budget to $1,9 trillion as a res...Published: 29 Jul 2022 at 06:54hrs | 6 | by Staff reporter
Water rationing looms in Bulawayo
DETERIORATING water levels at Bulawayo's supply dams could soon force the Bulawayo City Council (BCC) to re-introduce tighter water rationing.One of the dams with low water levels is Umzingwan...Published: 02 Jun 2022 at 06:51hrs | | by Staff reporter
Zimbabwe's central bank clarifies lending directive
The central bank says the suspension of lending by banks to government and private institutions announced by President Emmerson Mnangagwa at the weekend will include micro-financial institutions....Published: 11 May 2022 at 09:13hrs | 2 | by Staff reporter
RBZ extends loan ban to individuals, corporates
THE Reserve Bank of Zimbabwe (RBZ) has extended the suspension of lending of both local and foreign currency units by an array of financial institutions to also cover corporates and individuals....Published: 11 May 2022 at 09:10hrs | | by Staff reporter
20-hour daily water shedding in Bulawayo
BULAWAYO has introduced a 20-hour daily water shedding exercise for some western suburbs and is expected to decommission Umzingwane Dam this month, necessitating reintroduction of citywide water ratio...Published: 01 Mar 2022 at 05:34hrs | | by Staff reporter
Sable Chemicals to double production to 200 000t
ZIMBABWE'S sole ammonium nitrate production outfit, Sable Chemical Industries says it will double production to 200 000 tonnes a year by 2023 after getting a US$11 million boost from a regional lender...Published: 05 Dec 2021 at 06:17hrs | 8 | by Staff reporter
Govt issues $24 billion Covid-19 guarantees
FINANCE minister Mthuli Ncube says government has issued debt guarantees amounting to $24,2 billion and US$15,2 million to help firms ride out Covid-19 induced operational problems.A governmen...Published: 28 Nov 2021 at 08:04hrs | 6 | 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 | | by Nobleman Runyanga
First black RBZ Governor Moyana scored many firsts
The community of central bank governors in any country, Zimbabwe included, is a very small one and when one of them is taken, that departure leaves a yawning gap of unimaginable proportions. T...Published: 20 Jan 2021 at 06:48hrs | | by Gideon Gono
BCC applies to borrow US$51m
THE Bulawayo City Council has applied to borrow US$51 million for them to implement major capital projects which include the acquisition of development land and rehabilitation of water and sewerage in...Published: 10 Jan 2021 at 07:50hrs | | by Staff reporter
Sadc waits for signal from Mozambique
Let's face it, any disturbing developments in a neighbouring country have the effect of being contagious if not carefully managed. There is something disturbing taking place in Mozambique in the provi...Published: 30 Nov 2020 at 05:50hrs | 1 | by Ranga Mataire
Sadc plots Mozambique rescue mission
SADC yesterday undertook to work on a robust regional response to the growing threat of terrorism and insurgency in parts of Mozambique, which it will put in action once finalised. This came o...Published: 28 Nov 2020 at 07:07hrs | 2 | by Staff reporter
'Black market rates to tumble'
RESERVE Bank of Zimbabwe (RBZ) top officials yesterday insisted that the parallel market rates will soon tumble because the current balance of RTGS dollars in circulation cannot sustain the prevailing...Published: 31 May 2019 at 07:41hrs | | by Staff reporter
RBZ scraps 1:1 rate for oil marketing firms
The Reserve Bank of Zimbabwe (RBZ) has directed banks to discontinue twinning arrangements for their customers, with a view to promote efficient functioning of interbank market and willing-buyer willi...Published: 21 May 2019 at 06:20hrs | | by Staff reporter
Fuel procurement now via interbank rate
GOVERNMENT has, with immediate effect, removed the 1:1 foreign currency exchange rate for the procurement of fuel by Oil Marketing Companies (OMCs), which will result in the interbank market being use...Published: 21 May 2019 at 06:19hrs | | by Staff reporter
RBZ statement on the payment arrangements for fuel through interbank foreign exchange market
The Reserve Bank of Zimbabwe has advised the public that with effect from 21 May 2019, the procurement of fuel by the Oil Marketing Companies (OM.) shall be done through the interbank foreign exchange...Published: 20 May 2019 at 17:29hrs | | by Staff Reporter
Vivo Energy completes regional expansion
Africa's largest independent fuels and lubricants retailer, Vivo Energy, says it has completed the purchase of a network of filling stations owned by Engen Holdings.The transaction adds operat...Published: 03 Mar 2019 at 11:03hrs | | by Staff reporter
$46million drawn-down for RGM Airport facelift
Government has drawn-down $45,9 million, representing 30 percent of the total project cost for upgrading and modernisation of the Robert Gabriel Mugabe International Airport. The RGM Internati...Published: 04 Feb 2019 at 07:57hrs | | by Staff reporter
Mnangagwa's visit to Russia unlocks $300 million
President Emerson Mnangagwa's visit to Russia has unlocked $300 million that will trigger implementation of the $2 billion Great Dyke Investment (GDI) platinum mining venture in Darwendale.GDI...Published: 27 Jan 2019 at 18:59hrs | | by Staff reporter
Bulawayo's dams hold 30 months water supply
Bulawayo City Council whose supply dams are 60 percent full says the water is enough to last the city 30 months. According to the Zimbabwe National Water Authority (Zinwa) statistics on dam le...Published: 10 Jan 2019 at 07:46hrs | 1 | by Staff reporter
ZPC to recruit +100 workers
THE Zimbabwe Power Company (ZPC) intends to recruit more than 100 workers on a fixed term contract of up to 36 months for the Hwange Thermal Power Station expansion project.In March this year,...Published: 03 Dec 2018 at 07:23hrs | | by Staff reporter
Zinara committee audit report questioned
The credibility of a report compiled by a committee appointed by former Transport and Infrastructural Development Minister Dr Joram Gumbo to study the findings of an audit by Grant Thornton on the ope...Published: 26 Nov 2018 at 05:46hrs | 1 | by Staff reporter
Fuels situation to normalise this week
Government expects the fuel situation to normalise this week after the Reserve Bank of Zimbabwe increased weekly allocations for imports for the second time this year to over $30 million.This ...Published: 14 Oct 2018 at 09:41hrs | | by Staff reporter
ZB in talks for $30m line of credit
ZB Financial Holdings (ZBFH) is in talks with a regional bank for a $30 million line of credit, which will enable ZB Bank, its commercial banking subsidiary, to support international transactions....Published: 25 Sep 2018 at 07:27hrs | | by Staff reporter
Zesa unit in fraud storm
ZIMBABWE Power Company (ZPC) has flown into the eye of a storm amid revelations a senior executive of the State- owned power utility allegedly awarded a multi-million dollar contract without going to ...Published: 19 Jul 2018 at 06:15hrs | | by Staff reporter
Zimbabwe gets $1bn Chinese loan
Zimbabwe has concluded a $1.4bn agreement with the Export-Import Bank of China (Exim Bank) to expand power generation and help alleviate the country's perennial electricity shortages.According...Published: 02 Jun 2018 at 20:33hrs | | by Staff reporter
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
Bulawayo has enough water for 3 years
BULAWAYO's major water reservoirs have enough water to last three years despite insignificant inflows recorded so far and high evaporation rates, council has reported.A council report of the f...Published: 17 Jan 2018 at 05:58hrs | | by Staff reporter
Mutsvangwa testifies in US tax fraud case
War veterans leader, Chris Mutsvangwa, testified over the phone in a United States tax fraud case - which had sucked in Zimbabwean senior government officials - resulting in the conviction of former C...Published: 01 Oct 2017 at 11:57hrs | 1 | by Staff reporter
Absa Bank Limited and China Development Bank Conclude a $100 million Agreement
JOHANNESBURG - Absa Bank Limited (www.Absa.co.za), a subsidiary of the Barclays Africa Group (BAGL) (www.BarclaysAfrica.com), has successfully concluded a five year $100 million Special Facility Agree...Published: 18 Aug 2017 at 10:10hrs | | by APO
Cain Mathema ordered to repay $50 000 Agribank loan
THE High Court has ordered Matabeleland North Provincial Affairs minister Cain Mathema to repay a $50 000 loan he borrowed from Agribank nearly four years ago.The bank filed summons against th...Published: 13 Jun 2017 at 06:39hrs | | by Staff reporter
Zimbabwe's forex situation improves significantly
Zimbabwe's foreign currency situation has significantly improved due to increased inflows from agriculture and mining, with the central bank allocating at least $100 million to banks weekly since the ...Published: 04 May 2017 at 06:54hrs | | by Staff reporter
Zimbabwe suspends grain imports
THE Government has suspended grain imports as the country has enough strategic grain reserves with more deliveries from the anticipated bumper harvest expected to boost food security, Vice Preside...Published: 10 Mar 2017 at 06:16hrs | | by Staff reporter
Zimbabwe's IMF payment a joke, says Biti
Former finance minister Tendai Biti has warned that Zimbabwe's move to clear its International Monetary Fund (IMF) arrears will not make any difference as long as the country does not implement cr...Published: 23 Oct 2016 at 11:17hrs | 1 | by Staff reporter
RBZ scraps Rand, Euro plan
THE Reserve Bank of Zimbabwe (RBZ) has with immediate effect scrapped the apportionment of foreign exchange receipts into rand and euros and applied the five percent export incentive in US$ into autho...Published: 11 May 2016 at 06:50hrs | | by Prosper Ndlovu
US, Nato formally ends war in Afghanistan
Kabul - The United States and Nato formally ended their war in Afghanistan on Sunday with a ceremony at their military headquarters in Kabul as the insurgency they fought for 13 years remains as feroc...Published: 28 Dec 2014 at 19:20hrs | | by Staff Reporter
Zimbabwe road projects plunge into funding problems
THE joint venture between the Zimbabwe National Road Administration (Zinara) and a South African company Group Five Limited to rehabilitate the Plumtree-Bulawayo-Harare-Mutare highway has plunged int...Published: 29 Nov 2013 at 05:48hrs | | by Staff reporter
Bulawayo left with 20 months water supplies
THE Bulawayo City Council (BCC) has failed to account for more than 28 percent of water consumption amid reports that the city is left with 20 months' water supplies from its five major dams. ...Published: 04 May 2012 at 00:16hrs | | by Staff reporter
Post Budget Developments in the Zim Economy - Tendai Biti
This is a press statement on Post Budget Developments in the Zimbabwean Economy presented by the Finance Minister, Tendai Biti...Published: 25 Jan 2012 at 13:38hrs | | by Tendai Biti
Mwana Africa secures loan for Zimbabwe mine
Mwana Africa has raised $6 million to fund its efforts to ramp up production at the Freda Rebecca gold mine in Zimbabwe and take advantage of record high gold prices.The diversified mining co...Published: 16 Aug 2011 at 17:09hrs | | by Nare Msupatsila
The Group Five deal will not dualise Zimbabwe roads
Tthe signing of a deal between Zimbabwe and SA's Group Five for the rehabilitation of the Plumtree-Mutare highway has been viewed as the single largest infrastructural development project after the c...Published: 26 Jun 2011 at 05:39hrs | 6 | by .
Iran 1 Israel 0 in turmoil
The two regional powers most affected by the turmoil in the Middle East are going to be Iran and Israel. Life sometimes offers strange parallels. There is much in common between the two intractable...Published: 31 Jan 2011 at 14:33hrs | 1 | by M K Bhadrakumar
Reason why there is no fuel
The Zimbabwe Revenue Authority (Zimra) last month garnished $35 million from the National Oil Company of Zimbabwe's (Noczim) bank account, crippling the company's ability to import fuel leading to the...Published: 20 Jan 2011 at 23:35hrs | | by Byo24NEWS
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