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RBZ secures $1,3bn offshore loans for industry

THE Reserve Bank of Zimbabwe (RBZ) has managed to secure $1,3 billion offshore loans through the African Export-Import Bank (Afreximbank) and Trafigura to support production and promote exports, an official has said. BY MTHANDAZO NYONI Speaking during a ZimTrade-Banks export awareness seminar held in Bulawayo yesterday, the central bank’s principal …

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RBZ secures $1,3bn offshore loans for industry

THE Reserve Bank of Zimbabwe (RBZ) has managed to secure $1,3 billion offshore loans through the African Export-Import Bank (Afreximbank) and Trafigura to support production and promote exports, an official has said. BY MTHANDAZO NYONI Speaking during a ZimTrade-Banks export awareness seminar held in Bulawayo yesterday, the central bank’s principal …

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Millers turn to NGOs for rescue package

Local millers have turned to international non-governmental organisations (NGOs) to secure $100 million required for the importation of rice, wheat and other grains amid a worsening foreign currency crisis. BY NDAMU SANDU Under the arrangement, the NGOs would pay for the importation on behalf of millers who would pick up …

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Giving Farmers Room to Export

By Leroy Dzenga Fredrick Toendepi is not an ordinary 25-year-old. He is a young person who believes in taking an active part in serious economic activities, especially in agriculture. At his age, he proudly holds 50 percent shares in their family business, Nightridge Ventures (Private) Limited. If he had taken …

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Wage growth ‘missing in action’

The weak wage growth that’s characterised global labour markets since the financial crisis has hit poorer workers most, compounding inequalities and fuelling dissatisfaction, according to the OECD. The Paris-based body said pay increases are “missing in action” even with rising employment, and any gains haven’t been equally distributed. In its …

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Dema Tollgate – Zinara Bows to Pressure

By Abigail Mawonde The Zimbabwe National Roads Administration (zinara) has bowed to pressure from Dema residents to relocate the tollgate in their area, with the parastatal saying it has since started the relocation process. zinara spokesperson Mr Augustine Moyo confirmed the development to The Herald yesterday, saying they were now …

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Voluntary disclosure

The Zimbabwe Revenue Authority (Zimra) encourages taxpayers to review their tax affairs and make voluntary disclosures where there is any income omitted from returns submitted or where there are any tax obligations that the taxpayer may not have complied with. The intention is to encourage voluntary compliance from taxpayers and …

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Business fails to take up export opportunities

Business Reporter Zimbabwean businesses are failing to take advantage of export opportunities in the region, leaving South African companies to exploit them, ZimTrade acting chief executive Allan Majuru told the NMBZ exporters breakfast meeting last week. He said that South African trucks were passing through Zimbabwe carrying exports to Tete …

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African Sun appoints new chairman

Enacy Mapakame HARARE – Hospitality group, African Sun Limited, has appointed Mr Alex Makamure as the new board chairman with effect from June 29, 2018. Mr Makumure takes over the reign of the board from Herbert Nkala, who stepped down on June 28. Prior his ascendency to board chair, Mr …

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RBZ brings in $1,3bn off-shore loans

Oliver Kazunga Bulawayo Bureau THE Reserve Bank of Zimbabwe (RBZ) has between November 2017 and May this year successfully negotiated for $1,3 billion off-shore loans to support the economy, an official said yesterday. Speaking during a ZimTrade-Banks breakfast seminar in Bulawayo, RBZ financial markets division principal analyst Mr Tapiwa Furusa …

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