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Zinara gets thumbs-up
The Zimbabwe National Roads Administration (Zinara) has received parliamentary approval after effectively addressing concerns raised in the latest report by Auditor-General Rheah Kujinga regarding its...Published: 05 Nov 2024 at 08:23hrs | 221 | by Staff reporter
Potraz raises red flag over impact of power cuts on telcos
The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has expressed serious concerns regarding the ongoing power outages that threaten to disrupt the country's telecommunications...Published: 17 Oct 2024 at 08:58hrs | 84 | by Staff reporter
Mutumwa Mawere sentenced to 6 months in SA prison
Zimbabwean-born South African businessman Mutumwa Mawere has been sentenced to six months in prison for contempt of court, following a protracted legal battle involving Southern Asbestos Sales (Pty) L...Published: 05 Oct 2024 at 16:16hrs | 2097 | by Staff reporter
NetOne's going concern status at risk
NetOne Private Limited, a telecommunications company in Zimbabwe, has been identified as technically insolvent and at risk of being unable to sustain its operations, according to a recent report. Rele...Published: 17 Jul 2024 at 06:51hrs | 626 | by Staff reporter
Gweru City Council undertakes debtors cleansing exercise
The Gweru City Council is conducting a debtors cleansing exercise to verify the status of its debtors, including companies that have ceased operations but are still listed as owing money. This effort ...Published: 05 Jul 2024 at 11:02hrs | 2 | by Staff reporter
Air Zimbabwe wins retrenchment case
THREE-HUNDRED former Air Zimbabwe workers have lost their appeal against retrenchment after the Labour Court ruled they waived their right to object to the procedural irregularities by accepting retre...Published: 08 Mar 2024 at 05:05hrs | | by Staff reporter
Zimbabwe's ailing SOEs owe Chinese, Indian banks US$1.7billion
ZIMBABWE has accessed loans of up to USS$1.7 billion from Chinese and Indian banks to shore up technically insolvent state-owned enterprises (SOEs), a leading regional financier has revealed.A...Published: 31 Dec 2023 at 12:57hrs | 9 | by Staff reporter
Air Zimbabwe 'dead as a dodo'
TECHNICALLY-INSOLVENT Air Zimbabwe has accumulated losses of US$407,84 million, while total liabilities have exceeded assets by US$380,22 million, further casting significant doubt on the airline's ab...Published: 29 Oct 2023 at 12:36hrs | | 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 | 94 | by Staff reporter
Mutapa looting machine
PRESIDENT Emmerson Mnangagwa is full of surprises.He wants to be seen to be doing something and, in many instances, creates new offices that in reality are as clear as mud.Mutapa Inves...Published: 23 Sep 2023 at 21:34hrs | | by Paidamoyo Muzulu
Even Mnangagwa wants 'whites' to develop Zimbabwe!
A few days ago, I had a very interesting debate with a ZANU PF sympathizer - who was adamant that Zimbabwe was going in the right direction under President Emmerson Dambudzo Mnangagwa.He based...Published: 25 Jul 2023 at 21:50hrs | 10 | by Tendai Ruben Mbofana
Zimbabwe prison boss shields partisan officer
CCC rubbishes Kindness Paradza claimsThe opposition CCC has dismissed as false claims by Deputy Information minister Kindness Paradza and other Zanu-PF officials who say the party has been refusin...Published: 25 Jul 2023 at 19:36hrs | 8 | by Staff reporter
Mutumwa Mawere seeks to bar Mnangagwa from running for Zimbabwean Presidency
EXILED businessman Mutumwa Mawere has approached the Constitutional Court, seeking to block President Emmerson Mnangagwa from contesting in the August 23 polls.The South African-based ty...Published: 21 Jul 2023 at 18:07hrs | 1 | by Staff reporter
Zimbabwe's mobile network operators now frequently adjusting tariffs
ZIMBABWE'S mobile network operators have reviewed their tariffs in local Zimdollar currency as the sector battles to offset rising costs and maintain operations in the face of inflationary pressures t...Published: 25 Jun 2023 at 18:22hrs | 8 | by Staff reporter
Telcos hikes Zimdollar tariffs
ZIMBABWE'S mobile network operators have reviewed their tariffs in Zimdollar as the sector battles to offset rising costs and maintain operations in the face of inflationary pressures triggered by the...Published: 22 Jun 2023 at 06:43hrs | 1 | by Johannes Marisa
Master of High Court opens offices in Gweru
The Master of High Court of Zimbabwe is opening offices in Gweru in a bid to decentralize services and ensure convenience and ease access to the public.The offices will open their doors to the...Published: 16 Jun 2023 at 15:18hrs | | 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 | | by Staff reporter
Zimbabwe parly miffed by high parastatals debt
THE Parliamentary Portfolio Committee on Budget, Finance and Economic Development is conducting public hearings to determine the level of debt held by State-owned firms, with early signs suggesting th...Published: 19 May 2023 at 20:44hrs | 1 | by Staff reporter
Zimbabwe's 24 500km road network to be revamped by 2025
THIS week Zimbabwe Independent (ZI) business reporter, Freeman Makopa caught up with Transport and Infrastructural Development minister Felix Mhona (FM) to discuss updates in the progress of crucial i...Published: 09 Dec 2022 at 17:55hrs | 5 | by Staff reporter
Telecel set for corporate rescue
Telecel Zimbabwe, the smallest of the three mobile phone operators in the country, is set to be placed under corporate rescue, a form of bankruptcy protection, due to serious financial distress....Published: 11 Oct 2022 at 06:03hrs | | by Staff reporter
Mnangagwa's son-in-law captures Trevor Ncube's media group
PRESIDENT Emmerson Mnangagwa's son in-law Gerald Mlotshwa - a prominent lawyer married to the ruling Zanu-PF leader's daughter Farai - has now formally bought a significant equity stake at the private...Published: 02 Oct 2022 at 09:19hrs | 4 | by Staff reporter
Zimbabwe buys new Embraer plane
IN a move expected to boost the fleet of national airliner Air Zimbabwe, Government has bought a new state of the art Embraer ERJ-145 jet that is expected to take to the skies in the next eight weeks....Published: 02 Aug 2022 at 06:44hrs | | by Staff reporter
NRZ looting unearthed
AN internal audit has uncovered corporate governance rot, and looting at ailing parastatal National Railways of Zimbabwe (NRZ) with board chairperson Martin Dinha (pictured) and his board allegedly bl...Published: 24 Jun 2022 at 08:20hrs | | by Staff reporter
NRZ assets revalued to US$3 billion
NATIONAL Railways of Zimbabwe (NRZ)'s assets have been revalued at over US$3 billion, meaning the parastatal is not insolvent as previously alleged, a senior official said.Previously, the Stat...Published: 23 May 2022 at 06:35hrs | | by Staff reporter
IMF notes show no appetite for reform
The Executive Board of the International Monetary Fund (IMF) concluded its Article IV Consultation with Zimbabwe on 21 March 2022. The press release noted that real Gross Domestic Product (GDP) rose b...Published: 12 Apr 2022 at 16:50hrs | 2 | by Victor Bhoroma
Zesa, Zesco struggle hits ZRA project
THE Zambezi River Authority (ZRA) is struggling to settle its US$144 million loan to finance the Kariba Dam Rehabilitation Project due to failure by Zesa Holdings and Zambia Electricity Supply Corpora...Published: 08 Apr 2022 at 12:10hrs | 3 | by Staff reporter
Trevor Ncube's dalliances with Mnangagwa run much deeper
This article on the mysterious and controversial relations between President Emmerson Mnangagwa and local publisher Trevor Ncube is a summary based on an extract from...Published: 08 Apr 2022 at 09:22hrs | 6 | by Jonathan Mbiriyamveka
IMF notes show no appetite for reform
The Executive Board of the International Monetary Fund (IMF) concluded its Article IV Consultation with Zimbabwe on 21 March 2022. The press release noted that real Gross Domestic Product (GDP) rose b...Published: 01 Apr 2022 at 12:34hrs | 1 | by Victor Bhoroma
Trevor Ncube says was ‘wrong' to back Mnangagwa, renews Chamisa criticism
Alpha Media Holdings (AMH) owner Trevor Ncube has admitted he was "wrong" to assume President Emmerson Mnangagwa would govern better than Robert Mugabe.Ncube, one of Mnangagwa's biggest cheerl...Published: 30 Mar 2022 at 11:49hrs | | by Staff reporter
Mnangagwa's advisory council falls apart
PRESIDENT Emmerson Mnangagwa's Presidential Advisory Council (Pac) has virtually collapsed after the acrimonious quitting of its high-profile deputy chairperson, Alpha Media Holdings (AMH) proprietor ...Published: 27 Mar 2022 at 07:36hrs | | by Staff reporter
Mawere demands judge's recusal
Exiled businessman Mutumwa Mawere has filed a Constitutional Court application seeking the recusal of Justice Rita Makarau in a case where the constitutionality of the Reconstruction of State-Indebted...Published: 27 Feb 2022 at 07:35hrs | 1 | by Staff reporter
Mnangagwa sued over companies
South African-based Zimbabwean businessman Mutumwa Mawere has filed a Constitutional Court application against President Emmerson Mnangagwa accusing him of having used the seizure of his companies to ...Published: 20 Feb 2022 at 09:00hrs | | by Staff reporter
Dramatic new twists and turns in Mnangagwa's fresh lawsuit
THE convoluted case about accountability and the rule of law in which a Harare man Tichaona Mupasiri has filed a Constitutional Court (ConCourt) application against President Emmerson Mnangagwa's appo...Published: 13 Feb 2022 at 20:46hrs | 9 | by Staff reporter
Ramaphosa sucked into the SMM saga
SOUTH African President Cyril Ramaphosa has been dragged into the on-going fight between government and the Friends of SMM Holdings (Pvt) Ltd (FOSMM) over the hostile takeover of the asbestos mine in ...Published: 09 Feb 2022 at 05:28hrs | | by Staff reporter
Mnangagwa dragged to court for appointing Chinamasa Air Zimbabwe board chair
PRESIDENT Emmerson Mnangagwa has been dragged to the Constitutional Court for behaviour that is inconsistent with provisions of the constitution after the appointment of Zanu-PF politburo member Patri...Published: 26 Dec 2021 at 15:32hrs | 8 | by Staffreporter
Mnangagwa taken to court
A HARARE man has filed a Constitutional Court (ConCourt) application against President Emmerson Mnangagwa's appointment of Patrick Chinamasa as director and chairman of the embattled Air Zimbabwe argu...Published: 22 Dec 2021 at 04:50hrs | 7 | by Staff reporter
Zimbabwe airports pose aviation disaster
ZIMBABWE'S airports pose an aviation disaster as they are still operating with an antiquated radar system several months after the Parliamentary Portfolio Committee on Transport raised the urgent need...Published: 04 Dec 2021 at 07:24hrs | 6 | by Staff reporter
ZBC hikes licence fees
Cabinet received an update in respect of Zimbabwe's Covid-19 response as presented by the Honourable Vice President Dr. CGDN Chiwenga as chairperson of the Ministers' National Committee.The na...Published: 10 Nov 2021 at 05:31hrs | 10 | by Staff reporter
Bulawayo residents face 216% rates hike
BULAWAYO rate payers are expected to pay an average of 216 percent more in tariffs as the local authority has proposed a $24 billion budget for the coming year.The budget consists of a $16,8 b...Published: 01 Oct 2021 at 07:53hrs | 1 | by Staff reporter
Zimbabwe mortgaging resources
ZIMBABWE'S economy remains at risk of exploitation as the government continues to mortgage natural resources to secure loans, according to Veronica Zano, an official with the Southern Africa Resource ...Published: 26 Sep 2021 at 19:46hrs | 8 | by Staff reporter
SMM saga sucks in Cyril Ramaphosa
FRIENDS of Shabanie and Mashava Mines Holdings (FoSMM) have filed papers at the Johannesburg High Court seeking an order to compel South African President Cyril Ramaphosa to ignore an administrator ap...Published: 17 Sep 2021 at 20:17hrs | 7 | by Staff reporter
Air Zimbabwe says administrators rescued the insolvent airline
AIR Zimbabwe administrators Grant Thornton, whose term of office came to an end last week when government appointed a six-member board, saved the airline from litigious creditors and set the troubled ...Published: 17 Jul 2021 at 15:26hrs | 7 | by Staff reporter
'State firms' crisis can be averted'
ZIMBABWE'S rundown state enterprises can bounce back without being transferred to private hands, a new report indicated last week, discounting the long –held view that privatisation presented the be...Published: 06 Jun 2021 at 10:00hrs | | by Staff reporter
US$137m loss sinks run-down Air Zimbabwe
NATIONAL flag carrier, Air Zimbabwe (AirZim), chalked over a US$137 million loss in four successive years which helped sink the airline deep into the abyss under the yoke of corporate malfeasance, inc...Published: 28 May 2021 at 08:00hrs | 1 | by Staff reporter
Bulawayo residents to lose houses
Bulawayo City Council is on a collision course with residents after Town Clerk Mr Christopher Dube said the local authority will take drastic action that could see ratepayers losing their homes over u...Published: 20 May 2021 at 06:00hrs | | by Staff reporter
Privatization plans off rails
In November 2018, the Zimbabwean government set out a privatization plan to dispose completely and partially privatize over 23 state entities and parastatals (SEPs). According to the Auditor General R...Published: 07 May 2021 at 15:41hrs | | by Victor Bhoroma
SMM workers want administrator fired over US$43m salary arrears
SHABANIE and Mashava Mines Holdings (SMM) has accrued a debt of over US$43 million in salary arrears and unremitted pension contributions, it has emerged.This was revealed in an application re...Published: 24 Apr 2021 at 07:10hrs | | by Staff reporter
SMM loses mining claims
SMM Holdings administrator Afaras Gwaradzimba allegedly sold land under the company's mining leases, with the land set to be converted into residential stands. SMM, formerly owned by businessm...Published: 23 Apr 2021 at 07:20hrs | | by Staff reporter
Parliament warns of aviation disaster in Zimbabwe
ZIMBABWE'S airports could cause an aviation disaster due to poor weather-detecting instruments, outdated radar, few emergency vehicles, inadequate fire-fighting capacity and deplorable runways....Published: 09 Apr 2021 at 23:34hrs | 1 | by Staff reporter
Ngoni Kudenga rejected by CSC creditors
CREDITORS of the defunct Cold Storage Company have voted Mr Vonani Majoko of Majoko and Majoko Legal Practitioners as the new interim corporate rescue practitioner for the country's meat processor and...Published: 02 Apr 2021 at 09:09hrs | 1 | by Staff reporter
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