Business

ZB to float $50m bond for urban tollgates

ZB Financial Holdings is in discussion with Harare City Council (HCC) to fund urban tollgates in the next few months to raise money for road rehabilitation and maintenance in and around the city. ZB is prepared to fork out $50 million to the City Council depending on the local authority’s repayment plans. The deal, which is expected to kick off ...

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Mnangagwa says Zimbabwe is open for investment

President Emmerson Mnangagwa says Zimbabwe is a safe and secure destination for all investments. He said this while addressing delegates who attended the launch of the National Investment Policy Statement in Harare today. President Mnangagwa said the government is striving to make the country a safe destination and conducive environment to conduct business hence its commitment to revamping infrastructure in ...

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Zimbabwe prioritises UK engagement

FINANCE minister Patrick Chinamasa says government’s top priority is to normalise relations with its erstwhile coloniser, the United Kingdom, as Zimbabwe moves to end its costly two-decade isolation by powerful western nations. Relations between the two countries went sour in 2000 when former President Robert Mugabe’s government seized white-owned farms for redistribution to landless blacks in a drive often marked ...

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Zimbabwe investment indaba set for SA

Financial markets experts, investors and executives from various industries will descend on Johannesburg in March for the fifth Financial Markets Indaba. The one-day gathering which is scheduled for Sandton Hilton Hotel on the March 1 is part of a series of investment conferences held in the three cities strategic to Zimbabwe’s capital markets namely Harare, Johannesburg and London. Meanwhile, the ...

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Forex shortages to persist until March

Zimbabwe’s debilitating foreign currency crisis will persist until the tobacco selling season begins in March, the Reserve Bank of Zimbabwe he said. RBZ financial markets deputy director William Manhimanzi said the central bank will not make false promises that normalcy will return soon. He was speaking after foreign airlines raised alarm over the huge backlog of unremitted ticket payments. Foreign ...

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Zimbabwe to offer tax invcentives

Government will soon lower tax brackets for various economic players as an incentive to encourage investment in the country and grow the tax base. Addressing Zimbabweans and investors in Namibia on Monday where he had accompanied President Mnangagwa on a working visit, Finance and Economic Planning Minister Patrick Chinamasa, conceded the country had a higher tax regime. President Mnangagwa’s administration ...

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Municipal cops, vendors clash leaves 6 injured

Six municipal police officers were injured last weekend after they were attacked by vendors in the central business district in an operation to rid the city of illegal hawkers. The fierce run-ins started at the intersection of Cameron Street and Jason Moyo Avenue and the vendors chased after the law enforcement agents. Harare City Council spokesperson Michael Chideme said the ...

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Optimism as industry resumes operations

MOST companies are returning from annual shutdown this week amid high prospects that the new political dispensation will reinvigorate investor confidence and enable the manufacturing sector to secure the much-needed working capital. The thrust of the new politcial dispensation that assumed power last November, is among other things to improve Zimbabwe’s relations with the international community in order to attract ...

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Mnangagwa vows to resuscitate Ziscosteel

Government is working on modalities to resurrect the “sleeping” iron and steel giant Ziscosteel within the first 100 days of Emmerson Mnangagwa’s presidency. Addressing chiefs in the Midlands capital, Gweru, on Saturday, Mnangagwa said his government has plans to ensure that Ziscosteel became operational within 100 days since assuming power. “Ziscosteel and Shabanie Mines are part of our 100-day plan ...

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South African tycoon to invest $1,2 billion in Zimbabwe

SOUTH African tycoon Mr Robert Matana Gumede arrived in the country last night to cement a $1,2 billion investment deal in key sectors of the economy which include infrastructure development, energy, health services, tourism and financial services. His visit follows a meeting he held with President Emmerson Mnangagwa on December 21 last year in Pretoria, South Africa. Mr Gumede, who ...

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