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Tuesday, October 15, 2019

Business

Mail and Telegraph Business News

By Marshall Bwanya Government is set to adopt and implement a new Renewable Energy policy as a long term initiative to mitigate the severe power shortages the country has been facing. Cabinet today considered and approved the Renewable Energy policy as an economic, and sustainable power source that could realise industrial...
By Elvis Dube Government has introduced new highway Zupco buses to assist in alleviating travelling costs that have become unsustainable for most ordinary citizens. Five buses have been allocated per route at affordable rates. The cost of bus fares destinations are Harare-Bulawayo $30, Harare-Masvingo $25, Harare-Mutare $25 Harare-Binga $45, Harare-Mount Darwin $15. New...
By Elvis Dube Foreign Affairs minister Sibusiso Moyo has appointed a new board for ZimTrade, the state controlled trade development and promotion organisation. In terms of section 11, 12 and 13 with effect from yesterday the minister has appointed five new members members into the ZimTrade Board, Clara Mambo, Davison T....
Finance minister Mthuli Ncube on Thursday doubled the budget allocated to state organs tasked with fighting corruption and governance in a bid to improve transparency and accountability. Presenting a supplementary budget, Mthuli said the institutions such as the Zimbabwe Anti-Corruption Commission, the Zimbabwe Electoral Commission, the National Peace and Reconciliation...
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...
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