Business

Government has expressed concern over the renewal of sanctions by the United States, despite the steady progress made in the implementation of various reforms. The US Congress extended its sanctions regime on Zimbabwe yesterday by another year, alleging lack of reforms by President Mnangagwa’s administration. The US further said Zimbabwe …

There was a time when President Emmerson Mnangagwa’s government arrogantly dismissed the misgivings of human rights defenders as the useless ranting of Zimbabwe’s enemies, and got away with it. Those days have long gone. In recent months, it has become increasingly clear that the world is unrelenting in its demand …

Zimbabwe’s economy is evidently sinking deeper into crisis as weak economic fundamentals paint a gloomy outlook picture. The Confederation of Zimbabwe Industries (CZI) reports that capacity utilisation has dropped to 36,4% and is likely to slide further to about 27% if corrective measures are not taken to fix the economy. …

The sharp decline in foreign direct investment (FDI) inflows from US$717 million in 2018 to US$259 million in 2019 highlights the country’s persistent challenges in attracting long-term investment despite the abundance of opportunities in the local market. Short-term investments as represented by portfolio investments (purchases of local financial securities and …

The United States government this week extended by one year sanctions against President Emmerson Mnangagwa and his inner circle. As soon as the announcement was made, government spokesperson Nick Mangwana issued a statement denouncing the sanctions. At face value, Harare’s knee-jerk response sounded routine – until Mangwana starkly denied that …

Local construction companies and developers must bid for capital projects as Government has no intention of awarding tenders particularly on road rehabilitation, to foreign developers. Speaking at a South Africa-Zambia and Zimbabwe Infrastructure Summit and Expo which started on Wednesday here, Transport and Infrastructural Development Minister Joel Biggie Matiza yesterday …

THE Warriors’ chances of hosting the Desert Foxes in Zimbabwe were boosted yesterday when the Confederation of African Football confirmed they will send an official to inspect both the National Sports Stadium and Barbourfields next week. CAF have also slammed ZIFA with a US$4 000 penalty, for late notification of …

Zimbabwe Stock Exchange listed microfinance institution, GetBucks Microfinance Bank Limited has appointed two new non-executive directors, Ruvimbo Matsika and Joseph Machiva. The appointments took effect from February 12, 2020. Matsika and Machiva took positions assumed by George Manyere and Godwin Nyengedza who had resigned from the board effective December 31, …

MDC — Alliance legislators yesterday defended former First Lady Grace Mugabe’s ownership of multiple farms and quashed calls by Norton legislator Mr Temba Mliswa to repossess them. The incident occurred in the National Assembly during the weekly question-and-answer session. Mr Mliswa said it was on record that the former First …

WORKMEN at the National Sports Stadium are targeting to complete the first phase of renovations in the next 10 to 14 days as Government and football stakeholders rally to upgrade the facility to meet CAF requirements. Sports Commission director-general, Prince Mupazviriho, yesterday told The Herald contractors who have been employed …