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Zimbabwe's 'pizza budget' proves economy on the verge of collapse
Zimbabwe's 'pizza budget,' presented two days ago by Finance Minister Professor Mthuli Ncube as the 2025 National Budget Proposal, is a stark illustration of an economy on the verge of collapse. ...Published: 30 Nov 2024 at 19:01hrs | 549 | by Tendai Ruben Mbofana
Zimbabwe's Mutapa Fund clinches US$350m power deal
The Mutapa Investment Fund (MIF) has approved a significant joint venture valued at US$350 million between Indian firm Jindal Africa Investments and Zesa to refurbish six units at Hwange Thermal Power...Published: 29 Sep 2024 at 14:25hrs | 3245 | by Staff reporter
Gordhan gave tenders to his cronies, leaves a fractured legacy
ONCE praised as an "incorruptible" crusader in South Africa, Pravin Gordhan has left behind a legacy tarnished by mistakes, poor leadership, and growing corruption claims, giving rise to the question ...Published: 15 Sep 2024 at 12:35hrs | 1141 | by Sizwe Dlamini, Thabo Makwakwa, Manyane Manyane
'Pravin Gordhan was the embodiment of greed, corruption, and elitism'
The Economic Freedom Fighters (EFF) have issued a scathing statement in response to the death of former Minister of Public Enterprises, Pravin Gordhan, making it clear they feel no sorrow over his pas...Published: 13 Sep 2024 at 15:49hrs | 412 | by Staff reporter
Cyril Ramaphosa's 'plot' to kill the ANC
SOME senior ANC leaders have accused President Cyril Ramaphosa of working with external parties to collapse the governing party and replace it with a centre-right coalition led by him after the 2024 g...Published: 17 Jul 2024 at 09:09hrs | 1725 | by Staff reporter
Mangudya underscores importance of well-managed parastatals for economic growth
John Mangudya, the chief executive of the Mutapa Investment Fund (MIF), underscored the crucial role of well-managed State-owned enterprises (SOEs) in driving economic growth in Zimbabwe.Addre...Published: 01 Jul 2024 at 04:08hrs | | by Staff reporter
South African GNU and Zimbabwe economy
GNU as portfolio controlThis week, South Africa's President Cyril Ramaphosa was inaugurated for his second and last term in office under the current Constitution.What is now awaited is...Published: 22 Jun 2024 at 11:28hrs | 3 | by @Jamwanda2 on Saturday
Mutapa portfolio grows to 66 companies
The Mutapa Investment Fund (Mutapa) manages a diverse portfolio of 66 state-owned enterprises (SOEs), their subsidiaries, and state-invested enterprises (SIEs). This portfolio includes entities in var...Published: 16 Jun 2024 at 09:13hrs | 26 | by Staff reporter
Ramaphosa's ANC must not give us a mini-apartheid
In a powerful public pronouncement, ANC veteran Lindiwe Sisulu has called for a "Black Pact" alliance to counter the proposed coalition between the African National Congress and the Democratic Allianc...Published: 04 Jun 2024 at 07:36hrs | 2 | by Staff reporter
Mnangagwa's Mutapa fund plots parastatals shake-up
The MUTAPA Investment Fund (MIF), previously criticized as a conduit for elite enrichment, has declared its commitment to establishing robust governance frameworks aimed at reining in reluctant State ...Published: 11 Mar 2024 at 04:57hrs | | by Staff reporter
South Africa fails to hold Pravin Gordhan to account as he will retire after elections
South Africa's Minister of Public Enterprises, Pravin Gordhan, will retire after this year's general elections on May 29, he told Reuters on Friday.Gordhan oversaw state entities including str...Published: 08 Mar 2024 at 18:24hrs | 2 | by Sytaff 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 | 11 | by Staff reporter
Mnangagwa consolidates grip over investment fund
President Emmerson Mnangagwa has retained control of the Mutapa Investment Fund (MIF), raising concerns about potential widespread corruption resulting from housing 20 state-owned enterprises (SOEs) u...Published: 03 Nov 2023 at 14:54hrs | 10 | by Staff reporter
SOEs, parastatals bleed Treasury
State-owned enterprises (SOEs) and parastatals have suffered significant financial losses, totaling millions of US dollars, due to procurement scams where suppliers received prepayments but failed to ...Published: 26 Oct 2023 at 06:42hrs | 1 | by Staff reporter
Zimbabwe's govt to privatise 20 enterprises under Mutapa
The government is considering removing the public entity status of the 20 State-owned enterprises (SOEs) that fall under the Mutapa Investment Fund, leading to debates regarding their procurement exem...Published: 03 Oct 2023 at 06:21hrs | | by Staff reporter
Zapu promises to grow economy by US$80bn in poll manifesto
The Zimbabwe African People's Union (Zapu) has outlined plans to build a US$80 billion economy in the next 20 years if voted into power in next month's elections.The opposition which is not fi...Published: 18 Jul 2023 at 21:10hrs | 11 | by Staff reporter
South Africa on the edge! National renewal needed urgently
WITH various leaders and commentators having suggested that things have gone horribly wrong in South Africa since Cyril Ramaphosa became president more than five years ago, to such an extent that the ...Published: 24 May 2023 at 17:18hrs | 1 | by Thandisizwe Mgudlwa
The importance of parastatals
WHEN State-managed institutions work well they are often not recognised or rewarded and are taken for granted. When they fail, everyone suffers the consequences.At independence in 1980, 40% of...Published: 27 Sep 2022 at 05:53hrs | | by Eddie Cross
Ramaphosa's 'plot' to kill the ANC
SOME senior ANC leaders have accused President Cyril Ramaphosa of working with external parties to collapse the governing party and replace it with a centre-right coalition led by him after the 2024 g...Published: 30 Jun 2022 at 19:46hrs | 10 | by Staff reporter
Zanu-PF bigwigs 'blocking' parastatal reforms
CONCERTED efforts by Treasury to push for key parastatal reform and privatisation of the loss-making entities have been frustrated by some hawkish cabinet ministers and senior bureaucrats, who have fo...Published: 17 Jun 2022 at 08:58hrs | 11 | by Staff reporter
IMF sees positive economic recovery signs in Zimbabwe
The International Monetary Fund (IMF) says there are positive signs of the economic recovery in Zimbabwe starting last year after two years of recession, adding that Government had done well in addres...Published: 25 Mar 2022 at 05:53hrs | | by Staff reporter
Performance contracts for Zimbabwean ministers
Performance contracts signed last year by permanent secretaries, the top level in the civil service, are being extended this year upwards to ministers and across to the heads of local authorities, Sta...Published: 04 Feb 2022 at 05:33hrs | | by Staff reporter
Zacc pushes for whistleblower protection
THE Zimbabwe Anti-Corruption Commission (Zacc) has come up with a cocktail of measures to combat rampant corruption through amending the Anti-Corruption Act, pushing for a whistleblower protection law...Published: 17 Dec 2021 at 23:38hrs | 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
Zupco monopoly: State capture or another Chimurenga?
BEGINNING January 21, 2019, the government of Zimbabwe has been making a series of declarations reinforcing the apparent principality of the Zimbabwe United Passenger Company (ZUPCO) in the provision ...Published: 11 May 2021 at 18:35hrs | | by Discent Collins Bajila
Cyril Ramaphosa's 'plot' to kill the ANC
SOME senior ANC leaders have accused President Cyril Ramaphosa of working with external parties to collapse the governing party and replace it with a centre-right coalition led by him after the 2024 g...Published: 07 May 2021 at 11:34hrs | 3 | by Piet Rampedi
Johann Rupert gives Ramaphosa an ultimatum
Billionaire businessman Johann Rupert has allegedly given President Cyril Ramaphosa a marching order, instructing him to tow the line and fire Ace Magashule, African National Congress (ANC) secretary ...Published: 27 Mar 2021 at 17:44hrs | 9 | by Staff reporter
Mnangagwa's govt issues ZW$750m fresh guarantees
GOVERNMENT has undertaken to guarantee public and private financial institutions including the Infrastructural Development Bank of Zimbabwe (IDBZ) for debts accrued through the floatation of a series ...Published: 05 Mar 2021 at 06:55hrs | | by Staff reporter
Mnangagwa, Chiwenga-linked cartels take over public firms, mines, fuel sector - report
HIGHLY secretive cartels linked to President Emmerson Mnangagwa and Vice President Constantino Chiwenga are reported to have taken over the operations of key state-owned companies, including private f...Published: 10 Feb 2021 at 07:33hrs | 7 | by Staff reporter
President's wide powers on mining fuel extractive resources corruption
THE excessive, wide and discretionary powers of the President of Zimbabwe and Minister of Mines over the country's vast mineral resources and their allocation is perpetuating rampant corruption in the...Published: 30 Jan 2021 at 17:22hrs | | by Staff reporter
How South Africa can nudge Zimbabwe toward stability
What's new? As Zimbabwe's political and economic crises worsen, South Africa is moving beyond its policy of "quiet diplomacy" with its northern neighbour and applying more pressure on Harare to open...Published: 18 Dec 2020 at 06:42hrs | | by crisisgroup
Reforming to rebuild Zimbabwe: A time for growth - Mthuli Ncube
With the recent announcements of vaccines to the Covid-19 pandemic, the world is staring through their dark tunnel to get a glimpse of the light....Published: 13 Dec 2020 at 05:55hrs | | by Prof Mthuli Ncube
Privatisation in limbo as govt moves to control state firms
EXPERTS say governments' decision to centralise control of State firms will destroy prospects of privatisation and might not be the panacea to challenges facing parastatals.State-owned entitie...Published: 11 Dec 2020 at 19:01hrs | | by Staff reporter
Foreign banks shut out debt-ridden state firms
SEVERAL foreign banks have spurned requests by Zimbabwe's broke state firms to borrow millions of dollars to pay off more debts and bankroll critical infrastructure development projects, businessdiges...Published: 11 Dec 2020 at 18:59hrs | 5 | by Staff reporter
Mthuli Ncube crafts debt control plan
Government has formulated a framework for evaluating, monitoring and managing publicly guaranteed and on-lent loans as they contribute to significant debt accumulation in the event of default by the p...Published: 06 Dec 2020 at 07:41hrs | 1 | by Staff reporter
What Zanu-PF can learn from China
(In December 2016, ZimLive editor Mduduzi Mathuthu, then the editor of The Southern Times newspaper based in Namibia, was dragged over the coals and subsequently fire...Published: 29 Nov 2020 at 08:59hrs | 1 | by Ranga Mberi
Govt to centralise control of State firms
THE Government will adopt a centralised ownership model for State-owned enterprises (SOEs) to eliminate inconsistencies in governance and ministerial interferences, Finance and Economic Development Mi...Published: 27 Nov 2020 at 06:54hrs | | by Staff reporter
Fitch and Moody's downgrade South Africa's credit ratings further
In a move that Finance Minister Tito Mboweni described as 'painful', rating agencies Fitch and Moody's pushed South Africa's credit rating deeper into the scrap heap of junk with downgrades announced ...Published: 24 Nov 2020 at 05:04hrs | | by Staff reporter
From desert to business hub_Dubai economic story
Dubai is the capital city of the Emirate of Dubai, which in itself is one of the seven emirates (states) that form the United Arab Emirates (UAE). The emirates are former British colonies which got in...Published: 20 Oct 2020 at 14:01hrs | | by Victor Bhoroma
'Zimbabwe to keep getting IMF technical support'
GOVERNMENT has said it will continue working with international financial institutions (IFIs), including the International Monetary Fund (IMF) after its aborted Staff-Monitored Programme (SMP) with th...Published: 02 Oct 2020 at 07:45hrs | | by Staff reporter
VACANCY: ZESA and ZERA board members wanted
The Office of the President and Cabinet is inviting members of the public who are interested in serving as Board members of various State-Owned enterprises to submit their expression of interest. ...Published: 13 Aug 2019 at 12:31hrs | | by Mandla Ndlovu
'Arresting Mupfumira over NSSA not enough'
ANTI-CORRUPTION watchdog, Transparency International Zimbabwe (TI-Z) has warned that State-owned enterprises (SOE's) will continue to be bled by corrupt senior civil servants and ministers as long as ...Published: 09 Aug 2019 at 07:33hrs | | by Staff reporter
Will Sibusiso Moyo's wife bite?
Analysts have questioned whether the newly composed Zimbabwe Anti- Corruption Commission will live up to the task and thoroughly investigate and arrest officials who are fingered in corruption activit...Published: 18 Jul 2019 at 13:04hrs | | by Mandla Ndlovu
Graft: Whistleblowers need full legal protection
On June 17, 2019, one of the lead stories in The Herald was "President rescues ZESA whistleblowers". The article was in reference to the well-intended intervention by President Mnangagwa on th...Published: 02 Jul 2019 at 08:09hrs | | by Willard T. Mugadza
More heads to roll at parastatals
PUBLIC officials in State-owned enterprises (SOEs) and Government departments might soon face the music after the Auditor-General, Mrs Mildred Chiri, uncovered continued dereliction of duty and deep-s...Published: 30 Jun 2019 at 09:02hrs | | by Staff reporter
Mthuli Ncube slams debt takeover practice
Government may not take over the debts of State-owned entities such as Air Zimbabwe and Zisco, touted as critical to make them more attractive to investors, after Finance and Economic Development Mini...Published: 27 Jun 2019 at 06:27hrs | | by Staff reporter
NetOne crafts bulk payments solution
STATE-owned mobile telecommunications giant, NetOne has stepped in to offer a salary and bulk payments solution due to the ongoing dispute between local banks and a Mauritian firm, Payserv Africa. ...Published: 21 Jun 2019 at 07:16hrs | | by Staff reporter
'Rothschilds are the new Guptas'
Unions at South African Airways have read government, Finance Minister Tito Mboweni and members of national carrier SAA the riot act in a strongly worded statement, alleging that they do not have the ...Published: 15 Jun 2019 at 09:28hrs | 1 | by Staff reporter
Extraordinary measure for extraordinary: A case of Zimbabwe's austerity measures
In the Bible when Jacob was faced with a situation he was supposed to meet Esau his brother he was so afraid knowing that he had subtly stolen the latter's blessing. During the night, Jacob wrestled a...Published: 12 Jun 2019 at 15:34hrs | 8 | by Elijah Chihota
Mthuli Ncube on course to clear Zimbabwe's AFDB debt
ZIMBABWE is on course to clear its US$605 million debt to the African Development Bank (AfDB), which will allow the country to start accessing funds from the bank beginning early next year, the Minist...Published: 12 Jun 2019 at 06:52hrs | | by Staff reporter
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