Business

The government has pegged the minimum wage of a worker in the sugarcane industry to $1 200. The amount is equivalent to US$12 based on prevailing parallel market rates which have been relied upon to determine prices of goods and services by locals. According to Statutory Instrument 148 of 2020 …

Grinding mill operators in this Midlands area are now rejecting bond notes while demanding US dollars or gallons of maize as payment for their services. Silobela MP, Mthokozisa Manoki Mpofu said life was becoming increasingly difficult for villagers who are already facing starvation following a poor cropping season and general …

East Africa is in the midst of a Book of Exodus-kind-of-crisis with a plague of locusts spreading across the region threatening food supply systems and livelihoods for millions of people. The scale of the locust outbreak has been described as the worst in living memory. In Zimbabwe, a recent outbreak …

THE Zimbabwe Revenue Authority (Zimra) has expanded the list of import duty and Value Added Tax-free agricultural equipment, a move described by stakeholders as critical to transforming the sector for economic growth and prosperity. The exemption of some of the agricultural machinery from paying duty comes at a time when …

Farmers have been encouraged to venture into horticulture and explore regional and international markets to improve Zimbabwe’s foreign currency earnings. Presently, many farmers are involved in traditional and cereal grains production to ensure national food security, although farmers have struggled to produce enough maize, soya beans and wheat due to …

The pegging of fuel prices to the auction exchange rate almost a fortnight ago and the pegging this weekend of bread to the same rate must be the start of an interim measure to bring pricing under control, especially where the basic product is either wholly or largely imported or …

Pretoria Portland Cement (PPC) Zimbabwe has secured an investor to build and operate a 32MW solar power plant in Collen Bawn, Matabeleland South. The development of the solar project is aimed at providing the cement producer with 16MW, while the remainder would be fed into the national grid. Last year, …

State-owned Agriculture Development Bank (Agribank) has completed a due diligence to ascertain its asset value before calling for bids from prospective strategic partners willing to inject capital in exchange for equity. The partial share disposal is part of broad measures by the Government to improve the performance and viability of …

The Paris Club has spurned the Zimbabwean government’s appeal for a bailout saying no financial assistance will be extended to Harare until satisfactory reforms implemented. Paris Club comprises major shareholders in international financial institutions, the International Monetary Fund (IMF) and the World Bank, Finance Minister Mthuli Ncube wrote to the …

The water deputy minister, Douglas Karoro, has appealed to defaulters, who include government ministries, to settle a combined $150 million bill they owe Zimbabwe National Water Authority (ZINWA) for water services. The deputy minister was speaking in Binga on behalf of Minister Perrance Shiri at the commissioning of a new …