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Hands Off Hwange, Parly Told

By Zvamaida Murwira Parliament has no authority to exercise its oversight role over private companies such as Hwange Colliery Company, neither does it have lawful powers to summon an administrator appointed by Government to appear before it, Attorney-General Advocate Prince Machaya has said. He said the Reconstruction of State Indebted …

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MP – Govt Earns Just $30,000 Bond Notes From DStv Investment – State Owns 20 Percent of Zim Franchise

By Alois Vinga Parastatal Transmedia Corporation is earning a paltry 30,000 Bond Notes from its shareholding in Multichoice Zimbabwe, it has emerged to the outrage of parliamentarians. Government, through Transmedia, owns a minority 20 percent interest in Multichoice Zimbabwe, the local franchise of South Africa-based continental giant Multichoice Africa. Legislators …

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Econet Extends Share Offer to Creditors

By Alois Vinga Econet Wireless Zimbabwe (EWZL) has extended an offer allowing creditors to convert debentures into shares in the giant mobile telecoms company. The development was confirmed managing director Peter Zimunya in a letter dated November 14, 2018. “Subject to shareholder and regulatory approval, Econet hereby makes and offer …

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Funeral Assurers Defy Ipec Directive

By Golden Sibanda Just three out of a total of nine funeral assurance companies are compliant with regulatory minimum capital levels, which puts policyholders funds at risk in the event of an operator collapsing, the insurance industry regulator has said. Regulatory authority is worried that undercapitalised funeral assurance firms have …

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‘Trade in Forex, Pay Tax in Forex’

By Farirai Machivenyika The Zimbabwe Revenue Authority has directed businesses that are trading in multi-currencies to remit taxes in the same currency in which the goods have been sold. “Zimbabwe Revenue Authority has noticed that there are businesses that are trading, withholding and collecting Value Added Tax, Pay As You …

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Media Urged to Inform Citizens

By Leonard Ncube Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa has challenged the mainstream media to diligently play its informative role and protect citizens from being misled through social media. There have been concerns about denigration of Government programmes on social media which President Mnangagwa writing in his weekly …

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Budget: Defining Week for Prof Ncube

EDITORIAL There is no doubt that this is a defining week for Finance and Economic Development Minister Professor Mthuli Ncube. It is a week in which he is likely to lose more friends and at the same time has an opportunity to make many new ones. Budget time is always …

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