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New Ministers Speak on Devolution

By Felex Share Newly-appointed Ministers of State for Provincial Affairs yesterday said focus during their five-year term would be economic development using resources in their respective provinces. They said the devolution concept, if fully implemented, would accelerate economic growth as it empowered provinces to determine their development priorities. Government plans …

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ED to Launch U.S.$2,2 Billion Projects in Bulawayo

By Thandeka Moyo President Mnangagwa will today officially open the $2 billion Hopeville Housing Project near Joshua Mqabuko Nkomo International Airport and commission a $2 million tomato processing plant here. Presidential spokesperson Mr George Charamba yesterday confirmed the programme which he said was in line with the President’s desire to …

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Debt-ridden CSC downscales

COLD Storage Company (Ltd), a beef producer with refrigerated warehousing, has downscaled its operations and put its employees on a “short time” work schedule under which they will now be paid based on the actual number of “man-hours” worked. BY TATIRA ZWINOIRA The State-owned company, which requires between $60 million …

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Zim gets new IMF rep

The International Monetary Fund (IMF) has appointed Patrick Amir Imam as Zimbabwe’s resident representative, replacing Christian Beddies, who has been in the country since 2014. BY FIDELITY MHLANGA Imam, a national of Belgium, Egypt and Germany, has served the IMF since 2005 working on monetary, exchange rate and financial stability …

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RBZ creating artificial money to fund gold exports

THE Reserve Bank of Zimbabwe (RBZ) plans to flood the banking system with more transferable balances created through real time gross settlement (RTGS) intended to support gold exporters in a desperate effort to ramp up foreign currency earnings. BY MTHANDAZO NYONI Gold, whose production is projected to hit 30 tonnes …

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Govt pledges support for gold miner

Golden Sibanda Senior Business Reporter GOVERNMENT has made a commitment to provide the necessary facilitation to Zimbabwe’s largest gold producer, Metallon Corporation, whose operations are being hampered by foreign currency shortages. The London head-quartered gold mining group has since given assurances that it was in the country for the long …

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Zim power imports down 50 percent

Martin Kadzere Senior Business Reporter Zimbabwe’s power imports declined by almost 50 percent during the second quarter of the year after the country’s power utility increased generation at Kariba plant. Zesa Holdings increased output at Kariba Power Station after switching on the second unit following the completion of expansion of …

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Zimra intensifies graft fight

Ishemunyoro Chingwere Business Reporter Whistleblowers who blew the cover on Zimra commissioner for revenue assurance and special projects — Charles Jaure — resulting in his suspension on Monday, have called for the suspension of senior management in the same department to allow for smooth investigation into corruption allegations levelled against …

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SAZ conference kicks off

Leonard Ncube in Victoria Falls THE 5th Standard Association of Zimbabwe (SAZ) Business Leaders Conference kicked off here yesterday amid calls for local business to adhere to standards so as to attract international markets and lure Foreign Direct Investment (FDI). President Mnangagwa is one of the high profile speakers expected …

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