Business

Zimbabwe: Top Lawyer, Businessman Challenges U.S.$70 000 Zesa Bill

Top Harare lawyer and businessman, Tawanda Nyambirai has approached the High Court challenging a US$70 000 electricity bill his company, TN Gold Arcturus Mine has been handed by the Zimbabwe Electricity Transmission Distribution Company (ZETDC). Nyambirai wants the unpaid electricity bill to be declared invalid and also for the courts …

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Zimbabwe: ZPC Sued Over US$750k Deal Gone Wrong

The Zimbabwe Power Company (ZPC) has been taken to court by a local company, Realquot Construction on allegations of failing to honour a US$750 000 contract. The failed contract was for the extension of the Hwange Power Station guest house. The aggrieved company has since approached the High Court seeking …

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Zimbabwe: NRZ Weighs Wider Revenue Generation Streams

The National Railways of Zimbabwe (NRZ) is weighing various options of leveraging its vast tracts of land in its property portfolio across the country to widen revenue generation streams. This was said by Transport and Infrastructure Development Minister Joel Biggie Matiza after touring some of the pieces of land in …

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Zimbabwe: Gold Revenue Up 48%

After slow production during the Covid-19 lock down, Zimbabwe’s gold sector has had a drastic come back reporting gold revenue is up almost 50 percent at least one of its major mines. The total revenue recorded for the second quarter of 2020 clocked and impressive to USD23. 6 million, that …

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Zimbabwe: RBZ Adjusts Rate to Support Forex Auction System

The Reserve Bank of Zimbabwe (RBZ) on Tuesday restored the bank policy rate to 35 percent as part of measures to curb speculative borrowing and support the smooth functioning and sustainability of the foreign exchange auction system. Generally, a bank policy rate is the rate used by central banks to …

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