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Wednesday, March 20, 2019

Business

Mail and Telegraph Business News

The trial of Intratrek Zimbabwe managing director Wicknell Chivayo continued on Friday with Zimbabwe Power Company (ZPC) financial director Mr Eubert Chiwara confirming that the businessman was awarded the tender after recommendations by the ZPC evaluation committee and the then State Procurement Board. Chivayo and his company are facing charges...
Washington, DC - Zimbabwe was contemplating scraping the 51/49% local to foreign investor’s threshold in the mining sector as a way inviting capital to Harare. Finance minister Mthuli Ncube on Wednesday told a United State of America based television channel that President Emmerson Mnangagwa was planning to remove the indigenisation requirement...
Harare - Cabinet approved the liberalisation of the importation of fuel by allowing mining firms, transport operators and large corporates with capacity to buy on their own. Addressing journalists after a cabinet meeting Tuesday, Information Minister Monica Mutsvangwa said mining companies and other large corporates were free to import own their...
Harare - Bread price was set to go up after bakers announced a new price for both wholesales and retailers' price with the effect from Wednesday, the 6th March 2019. In a letter to the Spar Managing Director, Mr. Terrence Yaetman, the Innscor Africa United t/a Bakers Inn Management said from...
Harare - Parliamentary portfolio on public accounts committee has given the Reserve Bank of Zimbabwe two weeks to submit names of Zimbabwe Asset Management Corporation (ZAMCO) beneficiaries amid r allegations of favouring certain political heavyweights. ZAMCO was established to mitigate non-performing loans in banks Government resolved to freeze issuance of treasury bills...
Harare - Reserve Bank of Zimbabwe Governor John Mangudya and MDC Alliance Vice Chairperson Tendai Biti who is also chairman of the Public Accounts Committee clashed in parliament over the acquisition of loan by the state without parliament approval. The governor was appearing before the committee to answer on the state...
Harare - Botswana has extended a 1 billion pula loan facility to Zimbabwe as the country seeks to help Zimbabwe in solving its financial crisis. Botswana and Zimbabwe also signed a six Memoranda of Understanding. Addressing delegates at the Zimbabwe Botswana Bi-National Commission, Botswana President Mokgwetsi Masisi said Botswana increased the loan...
Harare - Former City of Harare (COH)  bosses who are facing charges of $8 million Airport road fraud have appeared before a Harare Magistrate and had their trial date set.  The trio, Tendayi Mahachi, Michael Mahachi and Sekesai Makwavara will stand trial before Harare Magistrate Hoseah Mujaya on March 25. Prosecutor, Zivanai Macharaga alleges...
Harare - A Harare magistrate has postponed the matter for Reserve Bank of Zimbabwe (RBZ) director for the Financial Intelligence Unit, Mirirai Chiremba to March 15. Chiremba appeared before Harare Magistrate Vongai Muchuchuti facing charges of criminal abuse of duty for allegedly raising the withdrawal limit of a company without following...
Harare - Government says it has embarked on a project to rehabilitate the country’s educational infrastructure rough the provision of science teaching and learning materials and the construction of schools. Addressing a media briefing on Tuesday, Information minister Monica Mutsvangwa said more proposed primary mobile science laboratory are now ready and...
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