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Tuesday, August 20, 2019

Business

Mail and Telegraph Business News

The Zimbabwe Energy Regulatory Authority (ZERA) has increased prices of fuel by RTGS $0.30 cents with immediate effect, a situation that may result in increases of prices of basic commodities. ZERA acting chief executive officer Mr Edington Mazambani confirmed the price hike last light saying fuel dealers had been advised...
ENERGY and Power Development Minister Advocate Fortune Chasi has fired the entire ZESA board for failing to “appreciate the urgency of the situation we are in”. A new board of ‘hands-on” people will be appointed soon. More details to follow . . . The Herald
President Emmerson Mnangagwa’s much-hyped rehabilitation of Mbare flats is proving to be hot air after the company contracted by government and the Harare City Council to do the rehabilitation, FCG Singapore, ceased operations a month ago. The contractor is embroiled in a war with its workers who claim exploitation and...
Zimbabwe has been battling to get financial bailout due to the country’s geopolitics and risk assessments that has forced lenders to take a wait and see attitude, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said. Mangudya said the country has been battling to access offshore lending due to...
Huawei has signed a deal with Russian telecoms firm MTS to develop 5G technology in Russia. The companies will develop next-generation 5G networks in Russia over the next year, reports said. The deal was agreed as China's President Xi Jinping began a three-day visit to Russia. It comes as some Western countries,...
Postal and Telecommunications Regulatory Authority has urged telecommunication companies to take customer concerns seriously as their sustainability depends on consumers Addressing delegates at the launch of the 2018 Consumer Satisfaction Survey Report based on the survey that was done by Topline Research Solutions (TRS), POTRAZ Director General Gift Machengete said...
PARALLEL market exchange rates have tumbled from a peak of US$1:RTGS$9 recently and remain frozen at US$1:RTGS$6 since last week amid indications the rate could drop further after Government secured a US$500 million facility to boost efficiency on the inter-bank forex market. Traders are slowly gaining confidence in the interbank...
At least US$700 000 disbursed by the world’s soccer governing body Fifa disappeared from a Zifa account and found its way into private bank accounts of some of the association’s executive members, court documents have revealed. Zifa board member responsible for finance Philemon Machana received US$740 000 from the association’s...
The Zimbabwe Prisons and Correctional Services (ZPCS) plans to venture into commercial production of mbanje at Chiredzi Prison to raise revenue to stave off pressure and over-reliance on the fiscus. ZPCS has since formally applied to the Government for a licence to grow mbanje, among other projects earmarked for Masvingo...
ZIMBABWE requires more than US$100 million to replace around 2 000 transformers that were vandalised in recent years, Parliament heard last week. This come at a time when the country is grappling with serious power outages caused by poor power generation at Kariba Hydro-Power Station as water levels in the...
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