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Wednesday, May 22, 2019

Business

Mail and Telegraph Business News

Governemt says it has paid back at least RTGS$ 326 million of the local debt through the insuance of treasury bills and other cash flow management systems. Presenting the state of the economy in the national assembly, Finance minister Mthuli Ncube said government has reduced the use of treasury bills...
Government remains committed to solving fuel and electricity shortages through engaging the Reserve Bank of Zimbabwe (RBZ) on long-term financial mechanisms, Energy and Power Development Minister Fortune Chasi has said. Speaking at the Zimbabwe Energy Regulatory Authority’s ISO Quality Management Standard Certification celebrations in Harare, Minister Chasi said the financial...
Finance minister Mthuli Ncube says the introduction of the Transitional Stabilisation Plan has seen government revenue collection surpassing the target while state expenditure kept below the budget threshold Preseting the state of the economy on Wednesday in the national assembly, Ncube said in the first quarter of 2019, revenue collection...
Cabinet has approved a joint venture deal between the collapsed cold storage company (CSC)  and a private company Boulstead Beef Pvt Limited to revive the meat processing concern. Addressing journalists at a post cabinet briefing, Information minister Monica Mutsvangwa said the partner was set to inject USD$130 million into the joint...
Various vehicles, machinery and various equipment at former Presidnet Robert Mugabe's Gushungo Holdings will this saturday go under hammer amid indications that the dairy concern was struggling. Saddled with debts and a low market share, Gushungo Holdings, a company that was epitome of black investments during the Mugabe era, on...
Harare- President Emmerson Mnangagwa has re-appointed Reserve Bank of Zimbabwe governor John Mangudya for another five years. In a statement issued by the chief secretary, Misheck Sibanda, Mnangagwa had renewed Mangudya's contract ending speculation that he was on his way out. Below is the letter.  
Government has contracted 7000 farmers under command agriculture for the production of winter wheat. Addressing journalists at a post cabinet briefing, Information, Publicity and Broadcasting Minister Monica Mutsvangwa said the private sector was also subcontracting farmers. "7000 are already contracted under command agriculture and another hectrage, the private sector is also...
Air Zimbabwe has taken delivery of an Ambraer plane in a development that will see the airline going to other routes. The airline had one airline, the delivery of the new plane will now make them two. Addressing journalists at a post cabinet briefing, Information, Publicity and Broadcasting Minister Monica Mutsvangwa...
President Emmerson Mnangagwa on Tuesday summoned his presidential advisory council to deal with escalating prices and the state of the economy Briefing journalists after a two hour closed meeting with PAC, Mnangagwa said they had agreed to tackle the crisis through the tripartite negotiating forum. The meeting was attended by his...
NMB Bank has recorded a $21.3 million after tax profit during the year ended December 31, 2018 up from the $10 million recorded in the previous year. Addressing delegates during an analysts briefing,  NMB Bank Chief Executive Officer Benefit Washaya said this was  largely due to the increase in interest income. "The...
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