Business

Continuous importation of forex fuels Zimbabwe blackmarket

ANALYSTS agree that the continuous importation of hard cash into the economy will not improve the prevailing cash shortages in the country, but further fuel the parallel market. This comes as Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya recently told State media that the central bank had doubled cash imports to $100 million per month, as it tries to ...

Read More »

Econet strengthening industry lead

The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz)’s 2018 first quarter (Q1) sector report shows Econet Wireless maintained its customer and revenue market share lead on the back of consistent growth in the key industry performance indicators. The sector performance report, issued every quarter by the industry regulator, revealed that Econet was the only operator to increase its active ...

Read More »

Mangudya’s colourless phishing joke

I miss Gideon Gono. That’s only because John Mangudya, his successor at the central bank, is that turtle you can’t pick out from the rocks, which when it strays onto the road, looks and sounds like a toad. Gono did lots of stupid things, but in a colourful and exciting way. He was appointed governor of the Reserve Bank of ...

Read More »

Zinara owes BCC $400 000 in water

Bulawayo City Council (BCC) has revealed that Zinara owes it $400 000 after it recently paid $200 000 part of the debt which has placed the local authority in a precarious situation where it struggles in its service delivery. The Director of Engineering Services Simela Dube confirmed that ZINARA was not releasing money to Council hence the poor service delivery. ...

Read More »

Councillors call for 50% debt write-off

BULAWAYO councillors are calling for a 50% debt write-off for ratepayers or two months exemption from paying bills to cushion them against the harsh economic conditions. According to the latest full council minutes, ward 9 councillor Charles Moyo said residents were indebted to council as a result of the deteriorating state of the economy. “Discussion ensued and councillor Moyo was ...

Read More »

Kazembe, Musarara case rages

HARARE businessman, Tafadzwa Musarara has said he still enjoys cordial relations with Sports minister Kazembe Kazembe who defeated him in Zanu-PF primary elections for Mazowe West constituency. Musara made the remarks on Tuesday while testifying in the trial of Kazembe’s four supporters, who allegedly deflated his truck tyres and looted foodstuffs ahead of the party’s primary elections. He was being ...

Read More »

Colcom reverting to original pork pie

Zimbabwe’s largest meat processor Colcom Foods has bowed down to public pressure and announced it is working on plans for alternative means of producing a pie that includes the aspects of the “original” pork pie but said it could take time. This comes as the formerly Zimbabwe Stock Exchange-listed meat processing company – known for its delicious pork pie which ...

Read More »

‘RBZ fumes over return of Zim dollar’

The Reserve Bank of Zimbabwe has expressed disgust over social media reports that it was reintroducing local currency, describing it as false. RBZ Governor John Mangudya said the RBZ  wishes to advise members of the public that an article circulated on social media regarding the reintroduction of the Zimbabwe dollar is false and malicious. “The RBZ dismisses the false article ...

Read More »

Fire razes down NetOne shop

PROPERTY worth thousands of dollars went up in flames on Monday after a fire razed down a NetOne shop in Marondera. Residents watched helplessly as the fire engulfed the building, with the police blocking bystanders from looting mobile phones and recharge cards. Mashonaland East acting police provincial spokesperson Assistant Inspector Tendai Mwanza said he was waiting for a report from ...

Read More »

Ecocash causes stir in Zimbabwe as customers cry foul of being swindled of their money

The Econet mode of money transfer, Ecocash has caused a stir in Zimbabwe since Monday as many users of the mode of transfer complain that they are failing to buy goods using it. Some complained that the system would gobble their money but not reflect on the recipients that they have transferred the money hence they are either not given ...

Read More »