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Wednesday, August 21, 2019

Business

Mail and Telegraph Business News

By Elvis Dube Government is set to increase the price of toll gates by the 500% a move that is likely going to be unpopular with motorists who have been subjected to ever spiralling fuel hikes now pegged at $7.54 for petrol and $7.22 for diesel. Finance Minister Mthuli Ncube proposed...
A well calculated and systematic plunder of Zimbabwe National Road Authority funds was laid bare in parliament by the Public Accounts Committee (PAC) and it involved senior government officials and private contractors. According to a forensic audit report before on Zinara which is under discussion in parliament, more than $100...
President Emmerson Mnangagwa on Tueday presided over a signing of a Memorandum of Agreement between the Zimbabwe Consolidated Diamond Company and Alrosa of Russia to establish a joint venture partnership for diamond exploration, mining and marketing. The deal, which was first approved by cabinet before the signing ceremony is envisaged...
President Emmerson Mnangagwa has ordered the Minister of Home affairs to quickly fix the passport crisis amids reports that Zimbabweans in diaspora were now at the risk of being deported. According to Information Minister, Monica Mutsvangwa at the post cabinet briefing press conference, cabinet was worried with the prolonged crisis...
At least 60% of the money meant for old people was used to finance luxury living, hotel and allowances of civil servants while the intended beneficiaries wallowed in poverty, an audit has revealed. In  2017, according to the Auditor-General Mildred Chiri, the ministry of finance released a grant of $100...
Government last year over spent $2 billion without parliamentary approval, the Auditor-General has said. In a statement issued Friday after tabling the 2018  audit reports for ministries, state entities and local authorities, Auditor-General, Mildred Chiri said the state used more than $2.5 billion more than what was budgeted for. Chiri said parliament...
Cabinet has urged Zimbabweans to embrace government's move to abolish the multicurrency system adding that it would place the country's economy on a firm growth trajectory. Addressing journalists during a post cabinet briefing, Information, Publicity and Broadcasting Minister Monica Mutsvangwa said Zimbabweans should be driven by by the sense of...
President Emmerson Mnangagwa has said the country is now back to normal following the outlawing of the multi currency system that has been in place since 2009. In a statement, Mnangagwa said the country had normalised it's domestic issues,"We have normalised our domestic issues. "We were living under an abnormal financial...
Cabinet has approved Zimbabwe national Industrial Development (ZNIDP) policy which is aimed at achieving an export based industrialization. Addressing journalists during a post cabinet briefing, Information, Publicity and Broadcasting Minister Monica Mutsvangwa said the policy would promote sustainable industrial development. "Cabinet considered and approved the Zimbabwe national Industrial Development as presented by...
Cabinet has pegged the produce price of maize in USD$ and directed that the Grain Marketing Board to pay farmers at the prevailing interbank rate. Information minister Monica Mutsvangwa told a post cabinet briefing that from now, the produce price of maize would be USD$ 242 per tonne and would...
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