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Govt to retain 26pc stake in parastatals

Tawanda Musarurwa Senior Business Reporter Government has resolved to retain just 26 percent in at least three parastatals and/or State enterprises, Finance and Economic Development Minister Mthuli Ncube has said. Such equity-holding will give Government veto power over what it may consider “prejudicial decisions”. The parastatal reform process is moving …

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Hwange Power Station funding under threat

Golden Sibanda in Kariba Zimbabwe might face challenges accessing the US$1 billion loan facility from China Eximbank for Hwange Power Station expansion following the change of functional currency that resulted in funds that were held in an escrow account to securitise an earlier loan being converted to local currency. This …

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Fuel Shortages – Chasi Urges Adoption of Electric Cars

ENERGY Minister Fortune Chasi says the country should consider the introduction of electric vehicles on its roads to by-pass recurrent fuel shortages that continue to pose dire effects on the national economy. The newly appointed minister was addressing players in the fuel and energy sector at a Zimbabwe Energy Regulatory …

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Govt Clears Investment Bottlenecks

Midlands Bureau — GOVERNMENT is working on removing investment bottlenecks caused by the Indigenisation and Economic Empowerment Act, which scared away potential and existing investors, the President has said. The move seeks to create a conducive environment in line with ease of doing business reforms to transform the country into …

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Zim firm partners UAE-based satellite broadband company

BY MISHMA CHAKANYUKA UAE-based global satellite broadband service provider, Yahsat yesterday announced a strategic partnership with Zimbabwean operator, Zodsat. YahClick provides commercial Ka-band satellite broadband service in the Middle East, Africa, Central and South West Asia, while Zodsat, is a market-leading teleport, satellite and network operator in Zimbabwe. “The partnership …

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Interbank not helping us: Delta

BY TATIRA ZWINOIRA Delta Corporation Limited chief executive officer Pearson Gowero says the company is struggling to access enough foreign currency from the interbank market recently introduced by the Reserve Bank of Zimbabwe. Despite struggling to meet their foreign currency requirement, the beverage manufacturer grew its profit after tax by …

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Mthuli Beams Light On Economy

Measures contained in the Transitional Stabilisation Programme (TSP) and 2019 National Budget have seen Government revenue collections surpassing targets by 8,2 percent, Finance and Economic Development Minister Professor Mthuli Ncube has said. He said this while delivering a State of the Economy report in Parliament, amid high drama, especially from …

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