Business

Court Upholds Suspension of EcoCash Agents

The Reserve Bank of Zimbabwe (RBZ) acted within its mandate when it suspended EcoCash mobile money agents from conducting financial transactions to curb abuse, the High Court has ruled, and so there can be no interdict stopping it from doing so. The court ruling suggested the agents, rather than EcoCash, …

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RBZ Resolves Gold Forex Crisis

By Golden Sibanda Reserve Bank of Zimbabwe (RBZ) governor, Dr John Mangudya, yesterday said the bank found a sustainable way to manage funds required to make consistent US dollar cash payments to small gold miners. This came after RBZ unit, Fidelity Printers and Refiners, failed to pay small scale gold …

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Farmers Urged to Safeguard Electricity Infrastructure

By Conrad Mupesa Farmers have been urged to jealously guard electricity transformers and power lines from vandals as the nation focuses on putting 80 000 hectares under winter wheat. The call was made by the Deputy Minister of Energy and Power Development Magna Mudyiwa during the Winter Wheat and Traditional …

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Gmb Takes Delivery of 24 000t of Maize

By Elita Chikwati The Grain Marketing Board has now received 23 952 tonnes of maize since the beginning of the marketing season on April 1, almost three times the 8 952 tonnes delivered in the same period last year. Grain deliveries are expected to intensify over the next few months …

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TelOne Boss Under Fire for Donating While Workers Starve

TelOne Managing Director Chipo Mutasa has come under fire from employees for making massive donations to the underprivileged in the country while company workers were starving. Employees with the country’s telecommunications giant said Mutasa, who is secretary to First Lady Auxilia Mnangagwa’s philanthropic Angel of Hope Foundation, was neglecting workers’ …

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Zimplow Exports Suffer 64 Percent Drop Due to COVID-19 Induced Market Closures

Listed agro-industrial firm, Zimplow Holdings has recorded a 64% drop due to the effects of the Covid-19 pandemic lockdown regulations imposed by regional governments. Presenting a trading update recently, the firm’s company secretary, Max Chinorwadza bemoaned the pandemic’s impact of company fortunes. “The export business experienced a 64% drop compared …

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Tongaat Increases Sugar Price

Sugar producer, Tongaat Hulett Zimbabwe (THZ) has with immediate effect almost doubled the price of sugar. The last increase in the commodity’s price was in March. In a statement yesterday, the sugar producer pegged a 1kg packet of brown at $63,84 from $32,58 while a 2kg packet is now costing …

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Duty On Flour, Maize Meal Suspended

Customs duty on imported wheat flour and maize meal has been suspended for six months from 22 May to 21 November in terms of regulations gazetted yesterday by Minister of Finance and Economic Development Prof Mthuli Ncube. Statutory Instrument 219, giving the details of the three tariff items, suspended duty …

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Spare a Moment for the Tobacco Farmer

OPINION By Obert Chifamba The most recent statistics from the Tobacco Industry and Marketing Board (TIMB) indicate that farmers had sold 28,2 million kilogrammes of the golden leaf with a value of US$64,4 million by the end of last week. This marks a colossal jump from the US$18,6 million generated …

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