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Jury Still Out On Bond Notes

By Ndamu Sandu The introduction of bond notes led to an increase in exports but the surrogate currency has not alleviated Zimbabwe’s foreign currency shortages, analysts have said. Reserve Bank of Zimbabwe (RBZ) governor John Mangudya told a parliamentary portfolio committee last week that the bond notes project had been …

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President Meets IMF, World Bank Chiefs

President Mnangagwa held high-level meetings with top officials from the world’s top multilateral financial institutions on the sidelines of the 48th World Economic Forum (WEF) in Davos, Switzerland, as he continued with his drive to re-engage with the international community last month. He met top officials from the International Monetary …

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Failure to Repay Loans Derail Mega Deals

Zimbabwean government’s red tape and failure to adhere to loans repayments is impacting negatively on some of the “mega deals” signed in key economic areas between Zimbabwe and China. Zimbabwe Independent has established that although China availed a US$144 million loan facility meant to rehabilitate, replace, install and commission equipment …

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Kwekwe Gets $1m for Road Rehab

Kwekwe will soon embark on road rehabilitation after it received $1 million from the Zimbabwe National Roads Administration (Zinara). Kwekwe Mayor Councillor Matenda Madzoke said it took the intervention of Mbizo legislator Cde Vongainashe Mupereri for Zinara to release the funds. “We received the funds after Honourable Mupereri intervened and …

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Gwanda Solar Project Collapses

By Hazel Ndebele and Elias Mambo The US$200 million Gwanda solar project has all but collapsed as controversial businessman Wicknell Chivayo has expressed fears that the fraud and corruption charges levelled against him by the Zimbabwe Power Company (ZPC) will deter potential project funders including China Exim Bank, resulting in …

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Govt Tackles Fuel Prices, Liquidity

By Walter Nyamukondiwa Government is set to introduce a raft of measures to rationalise fuel prices while fighting against cash challenges through ongoing engagements with several countries, Special Advisor to the Presidency Ambassador Christopher Mutsvangwa has said. He said the interventions, leveraging on the goodwill Zimbabwe is enjoying across the …

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OPC Throws Chivayo Under the Bus

By Zvamaida Murwira The Office of the President and Cabinet today threw businessman and Intratrek managing director, Mr Wicknell Chivayo under the bus after they denied that they played a role in the controversial awarding of a 100MW solar project tender to the firm. This comes as Parliament’s portfolio committee …

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Financial Markets Indaba Nominated for Two Awards

Financial Markets Indaba, a series of business investment conferences has been nominated for two prestigious awards after getting recognition for its consistent efforts in bringing investors under one roof to discuss Zimbabwe’s present and future fortunes. The nominations came from the Zimbabwe Achievers Awards UK and Zimbabwe Achievers Awards South …

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