Business

Black Farmers to Pay Rent to Zim Government

Government approval required for crop production. Zimbabwe said black farmers settled on land seized from its former white owners will have to get government approval for contracts to produce crops. Farmers will also have to pay rent to the government for the land they’ve been allocated, Rural Resettlement Minister Douglas …

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Zimbabwe wastes US$8 million on snow graders

THE Zimbabwe National Roads Administration (Zinara) has embarked on a major staff shake-up which workers allege is a purge of staff to cover-up for years of financial impropriety. Zinara allegedly owes its creditors a cumulative debt of $40 million as at November last year. The parastatal, which collects in excess …

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ZESA Becomes Zimbabwe’s Fourth Telecom Operator competing with Econet and Telecel

Powertel, a subsidiary of state owned power company, Zimbabwe Electricity Supply Authority (ZESA) Holdings, has been unveiled as the southern African country’s fourth mobile network service. Currently, Zimbabwe, with a population of 13 million people, has three operating mobile phone and internet service providers. They include the pan-African giant Econet Wireless, Telecel and …

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Zimbabwe allocates record $380 million for 2015 Defence budget

The Zimbabwe finance ministry has defended the record US$380 million budget it allocated to the ministry of defence this year saying the money is required to fund the recruitment and training of more soldiers and acquisition of essential military equipment including new aircraft for the air force. Responding to opposition …

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Zimbabwe Invites White Farmers to come back “home”!

Harare – Zimbabwe’s reformist Lands Minister Douglas Mombeshora says “new” farmers, the beneficiaries of confiscated white-owned farms, may now enter joint ventures or contracts with white people. His statement comes just weeks after President Robert Mugabe told thousands of delegates at the Zanu-PF congress in Harare that white people must …

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Zimbabwe’s Farmers Bemoan Country’s Multi-currency System

HARARE, Jan 6 (BERNAMA-NNN-NEW ZIANA) — The Zimbabwe Commercial Farmers Union (ZCFU) has described the lack of affordable medium-to long-term loan facilities as having badly impacted on the agricultural sector. ZCFU President Wonder Chabikwa said here Monday that the government’s decision to adopt the multi-currency system in 2009 had resulted …

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Dollarisation cannot be reversed

February 2015 will mark six years since Zimbabwe adopted the multi-currency monetary system, commonly referred to as dollarisation. The move was in response to the chaotic hyperinflationary period that had defined the Zimbabwean economic environment for almost a decade prior to February 2009. GUEST COLUMNIST PERRY MUNZWEMBIRI Most Zimbabweans still …

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