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Tuesday, August 20, 2019

Business

Mail and Telegraph Business News

The Reserve bank of Zimbabwe has upgraded the Real Time Gross Settlement (RTGS) platform to include the United States Dollars (USD ) to facilitate settlement of USD Nostro Foreign Currency Account transactions, the Mail and Telegraph has learnt. The function is however still...
Intratrek Zimbabwe has on  Thursday emerged the victor in a raging  legal battle against the Zimbabwe Power Company which was  found liable for breach of contract in the $200 million dollars  Gwanda solar project . High Court judge Tawanda Chitapi ruled that the...
Harare - A Harare man has been hauled before court on allegations of fraud after having conned his company of a total ZAR 170 000 after supplying false account details for the purchase of pipes.  Tichaona Murakwami (43), an operations manager at a local gas company has been dragged to court...
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...
ZIMBABWE’s travelling public has been hit by another snag after Rwandair joined a long list of airlines to pull the plug on bond notes and electronic payments as doing so is no longer profitable. In a statement to travel trade partners, the air travel...
By Fungayi Chimbindi National Foods Limited says challenges acquiring foreign currency have led to an erratic supply of some goods and forced the company to increase prices on all its goods. The company’s statement comes as the Ministry of Industry and Commerce is reportedly holding closed door meetings today (Monday) with...
Harare - AN AUDIT into Zimbabwe Parks and Wildlife (ZimParks) has revealed the empire is in a mess, with the authority severely mismanaged and on the brink of bankruptcy, the Mail and Telegraph has learnt. This comes as ZimParks incurred a loss after tax of $6 million as at December 2016. The...
The country’s first privately owned television channel Joy TV will be back on the small screen in the first quarter of the year, the Mail and Telegraph has learnt. This follows a partnership between national broadcaster Zimbabwe Broadcasting Corporation (ZBC) with Joy Media Incorporated (JMI). ZBC confirmed the development in...
Cabinet has pegged the produce price of maize in USD$ 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...
Cabinet has resolved that Government should have a 26 percent minimum equity holding in Silo Food Industries after Government partially privatised it. Addressing journalists at a post cabinet briefing, Information , Publicity and Broadcasting Minister Monica Mutsvangwa said Silo needs US $54.7 million and RTGS$40 million to finance it's operations. "The...
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