Business

Zimbabwe: Business Community Failing to Pay Council Bills On Time

Mutare business community owes the local municipality millions in unpaid rates and levies, prejudicing its capacity to provide quality service delivery. To compound matters, it has also emerged that the business community is also failing to pay its bills on time, further compounding financial burdens as the local currency is …

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Zimbabwe: Tobacco Earnings Surpass Us$600m

Zimbabwe has so far earned over US$600 million from tobacco, with most farmers now concentrating on the 2020/21 season seedbeds ahead of transplanting in September. The country has for far earned US$618 million from the golden leaf, with exports constituting US$269 million and sales to date amounting to US$359 million …

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Zimbabwe: University Staffers Threaten Strike Over Poor Wages

Lecturers, librarians, technicians and other academic staff at the country’s 10 state universities are set to down their tools in frustration after government has ignored a series of engagement efforts over wages and working conditions. Union leaders Monday gave notice of incapacitation to Higher and Tertiary Education minister Amon Murwira …

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Zimbabwe: Billing Authorities Need to Meet Investors Half Way

Zimbabwe is in dire need for investors in housing infrastructure provision. Investors come in different forms and sizes. We have local-based investors and foreign direct investors. But on the local front, we also have diversified investors. There are private corporate investors and what I would call the community-driven investors. However, …

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Zimbabwe: New Gold Payment Scheme Hailed

Small scale miners, the country’s largest gold producers, have described the new payment regime adopted by Fidelity Printers and Refineries (FPR) as a welcome development that can finally eliminate the alternative market. FPR last week announced a new gold payment regime which will see the exclusive State gold buyer and …

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Zimbabwe: Makomo, Zambezi Gas Get Ultimatum

Brawling coal mining entities Makomo Resources and Zambezi Gas and Coal Mine have been given up to the end of this month to resolve their differences, which have resulted in the latter being barred from transporting its produce passing through the former concession. The two miners are key suppliers of …

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Zimbabwe: Econet Challenges Search Warrant

Econet Wireless is challenging the magistrates’ court’s decision to grant police a search and seizure warrant last week to enable investigations into suspected money laundering activities. The company is also accused of creating fictional mobile money and converting it to cash to facilitate buying of foreign currency on the black …

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Zimbabwe: Water Diversion Threat to Winter Wheat Crop

More than 240 hectares of winter wheat at Nyamaropa Irrigation Scheme in Nyanga is under threat after farmers outside the scheme diverted water from Murozi River. The 500ha irrigation scheme gets its water from the river, which feeds into a weir that directs water into the fields. However, upstream farming …

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Zimbabwe: Forex Auctions Still Seeking Optimum Rate Level

It can easily be argued that the lack of an efficient official currency system has contributed to the proliferation of illegal foreign currency trading, which has had debilitating effects on the local economy as businesses have tended to track the speculative nature of the alternative system. Zimbabwe’s monetary authorities have …

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