Business

Dr. Grace Mugabe warns Zimbabwe officials to stop looting public resources after a 40 meter road is billed at US$40 million

FIRST Lady, Grace Mugabe, has warned Zanu PF to guard against complacency, saying the ruling party could easily lose the 2018 elections if top officials continued lining their pockets instead of monitoring service delivery.  Addressing thousands of people at the official opening of Zivagwe Bridge in Chivhu, Mashonaland East province, …

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Germany refuses to print new Zimbabwe currency “Bond Notes”

Germany refuses to print Bond Notes A GERMAN company which specialises in the printing of banknotes, Giesecke and Devrient, has rejected Zimbabwe’s request to print bond notes for the cash-strapped Treasury, prompting the desperate government to turn to neighbouring South Africa and other countries for help. As the confusion surrounding …

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Zimbabweans stock up on cash as bond notes loom

Harare – Zimbabweans, seeking an escape from the current liquidity crunch, are looking for cash everywhere and they are trying every trick in the book to get an extra greenback in their wallets and pockets. This comes as queues inside banking halls and at cash machines have started to get …

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Zimbabwe clears 15-year IMF debt arrears, now remains to settle $ 1.15-billion to World Bank $601 million dollars to Africa Development Bank

Zimbabwe clears 15-year IMF debt arrears Beijing Time) Xinhua English HARARE, Oct. 21 (Xinhua) — Cash-strapped Zimbabwe has cleared its financial arrears of more than 100 million U.S. dollars with the International Monetary Fund (IMF), an IMF official said Friday. Zimbabwe paid 107.9 million dollars by transferring part of its cash …

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Coca Cola leaves Zimbabwe

Coca Cola to terminate Delta’s bottling deal HARARE, October 20 (The Source) – The Coca Cola Company plans to terminate its bottling deals with Delta Corporation and its associate, Schweppes Zimbabwe Limited, Delta announced late Thursday. Delta’s sparkling beverage business, almost entirely dependent on bottling Coca Cola products, accounts for …

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Zimbabwe conomy can no longer sustain current levels of corruption

Economy can no longer sustain current levels of corruption, Zimra head warns HARARE, October 18 (The Source) – Zimbabwe’s high levels of corruption threaten to break the fragile economy, the chairperson of the Zimbabwe Revenue Authority (Zimra) has said, amid revelations that whistleblowers averted the potential loss of $23 million …

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