Business

Zimbabwe: Bancabc Concludes Us$11m Shelter Afrique Housing Deal

By Golden Sibanda BancABC, the local banking unit of pan-African financial services group Atlas Mara, has concluded an US$11 million housing finance deal with Africa focussed housing financier Shelter Afrique. The Zimbabwean banking group sealed a US$7 million financing deal this week, the second in three weeks after earlier inking …

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Zimbabwe: Women Empowerment in Agriculture to Drive Economy

By Blessings Chidakwa It is critical to unleash the capacity of women to enable them to effectively participate in the modernization of the agricultural sector as this is imperative for enhanced resilience, improved food security and poverty reduction, a new women networking group has said. This was revealed during the …

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Zimbabwe: GMB Deliveries Surpass 89 000 Tonnes in 7 Weeks

By Elita Chikwati The Grain Marketing Board has received more than 89 000 tonnes of grain in seven weeks since the opening of the marketing season on April 1. Farmers have so far delivered 84 170 tonnes of maize with the parastatal receiving an average of 5 000 tonnes of …

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Zimbabwe: Wadyajena Grills Permsec, Cottco Boss Over Elusive CEO Contract

By Anna Chibamu Parliament has given Cottco Company of Zimbabwe (Cottco Holdings Ltd) and the Lands Ministry a seven-day ultimatum to announce the company acting Chief Executive Officer (CEO) Pious Manamike a substantive post. Lands and Agriculture Parliamentary Portfolio Committee chairperson Mayor Justice Wadyajena Thursday ordered Cottco board chairperson Sifelani …

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Zimbabwe: Villagers Protest Against Mining Company

George Maponga — Masvingo Bureau Scores of placard-waving villagers in Sese have staged a demonstration demanding an immediate stop to exploration activities by Murowa Diamond Company. The villagers, some carrying children on their backs and chanting slogans, want Murowa to leave their area accusing the company of a litany of …

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Zimbabwe: Presidential Powers Invoked to Deal With Forex Abusers

The Reserve Bank of Zimbabwe now has powers to impose civil penalties on institutions and individuals that uses foreign currency obtained from the auction trading system for a purpose other than that specified in the application of the foreign currency. According to Statutory Instrument 127 of 2021, gazetted under Presidential …

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Zimbabwe Finance Conference to Urge Diasporans to Channel Remittances for Zim’s Economic Growth

By Alois Vinga This year’s annual Zimbabwe Finance Conference (ZFC) slated to take place Wednesday is set to urge Diasporans to channel their remittances towards long term developmental projects in their home country. The conference will be held virtually. Speaking to NewZimbabwe.com Tuesday, ZFC managing director, Patrick Muzondo said the …

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Zimbabwe: RBZ Auction Sustains Stability, Targets 55 Percent Inflation Reduction By July

By Alois Vinga Reserve Bank of Zimbabwe (RBZ) foreign exchange auction system has managed to sustain stability nearly a year since its introduction amid targets to achieve a 55% yearly inflation reduction by July. A trading update released at the close trading Tuesday shows that the Main Auction received 328 …

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Zimbabwe: Rushwaya Case Postponed

By Prosper Dembedza The matter involving Henrietta Rushwaya and her alleged gold smuggling syndicate comprising of Pakistani businessman Ali Mohamed and two State security agents has been postponed to June 18 to allow time for the gold to be weighed. Prosecutor Mrs Netsai Mushayabasa applied for the postponement saying she …

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Zimbabwe: RBZ Allots U.S.$36 Million Amid Notable Inflation Decline

By Alois Vinga Reserve Bank of Zimbabwe (RBZ) Tuesday allotted US$36 million towards economic productivity amid notable inflation rates decline since the auction system’s inception last year. A trading update released at the close of trading this week shows that a total of US$31.3 million was allotted on the main …

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