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Govt moves to revive NRZ

Minister Joram Gumbo Harare Bureau The Government has acquired 31 rail wagons worth $2.9 million as it moves to recapitalise the National Railways of Zimbabwe, a Cabinet minister has said. Transport and Infrastructural Development Minister Dr Joram Gumbo said the recapitalisation of the NRZ also included track, signalling and telecommunications …

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Insurance uptake lowest in years, says expert

Mr Ngwerume Business Reporter ZIMBABWEAN businesses and individuals have been urged to seek insurance cover to mitigate losses associated with risks and facilitate long term economic growth. Insurance expert Mr Luke Ngwerume said the country’s insurance penetration rate is at its lowest in years, at about 1.5 percent, according to …

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RBZ raps banks over imports priority list

Harare Bureau THE Reserve Bank of Zimbabwe has rapped banks for not strictly adhering to the import priority list in allocating foreign currency, describing their conduct as “indiscipline” and a “failure” of the market to make positive impact on the economy. RBZ governor Dr John Mangudya said the fact that …

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Air Zim narrows losses by 42%: Eye to resume London flights in May

AIR Zimbabwe narrowed its full year losses by 42 percent to $15 million in 2016 from $26 million the previous year as a result of cost cutting, the state-owned airline’s chief executive said on Monday. Air Zimbabwe chief executive Ripton Muzenda on Monday told a Parliamentary committee that the airline …

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Zesa rejects chrome miners’ tariff request

Golden Sibanda, Harare Bureau Zesa Holdings has rejected a proposal by chrome miners for a further reduction of the power tariff levied on the industry by between 40 and 55 percent citing high operating costs. Consumers of electricity pay an average of 9,83 cents per kilowatt hour, but strategic economic …

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