Business

Strive Masiyiwa builds broadcast empire to challenge MultiChoice

Econet Group is building a broadcasting empire that could challenge MultiChoice’s dominance in the payTV market across the continent. In less than two years, Econet Media, a subsidiary of Econet, which houses the broadcasting platform Kwesé, has spent millions of dollars buying a number of lucrative rights to a variety of content including entertainment and sports. It has secured rights ...

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RBZ colluding with Zanu-PF govt to steal our money – analysts

Political commentator Pedzisai Ruhanya has said the Reserve Bank of Zimbabwe has colluded with the government of Zanu PF to steal people’s money by introducing the bond notes which are yet to be distributed to the banks – thereby resulting to serious shortage of cash in banks ahead of the distribution of the highly rejected bonds. President Robert Mugabe has ...

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No bond notes introduction date yet

The Reserve Bank of Zimbabwe has no clue when bond notes would be introduced as no date has been set, Governor  John Mangudya said. Mangudya, according to reports he is not aware of the impact of the controversial bond notes in the market. However, from today awareness campaigns on bond notes would be rolled out. “Starting on Monday (today), we ...

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Zimbabwe’s IMF repayment not automatic access to more funds

Zimbabwe’s surprise $107,9 million payment to the International Monetary Fund (IMF) last week has unlocked more funds but with conditions. Currently the cash strapped government can access $91,2 million. ” . . the amount held in escrow is indeed SDR 66,4 million ($91,2m), which became available to Zimbabwe after settling the overdue obligations,” IMF resident representative to Zimbabwe, Christian Beddies ...

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‘Bond notes not likely to hit the market anytime soon’

FINANCE minister Patrick Chinamasa has indicated that the bond notes are not likely to hit the market anytime soon, as government is yet to finalise modalities for the introduction of the currency. Chinamasa, who has been taken to the High Court over the introduction of the bond notes alongside Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, told the court ...

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No wage increases in 2016

There has been no agreement on wage increases in 2016 in any of the more than 50 national employment councils with most employers advocating a reduction in salaries as viability challenges takes toll. Zimbabwe Congress of Trade Unions secretary general Japhet Moyo said negotiations over the matter still continue but unlikely to yield positive thing due to depressed activity. According ...

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RBZ boss rushes to Germany amid bond notes confusion

Reserve Bank of Zimbabwe governor John Mangudya is reportedly in Germany on undisclosed official business. His trip coincide with reports that a German company which specializes in the printing of bank notes, Giesecke and Devrient has rejected Zimbabwe’s request to print bond notes. Mangudya could be in Germany to beg the firm to print the bond notes. The bond notes ...

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Set up tollgates within cities – Kasukuwere

Major urban centres have been urged to consider erecting toll gates as majority of rich urbanites were not contributing to development of road infrastructure. Former Transport minister Obert Mpofu first made the suggestion igniting heated debates. However, Local Government, Public Works and National Housing Minister, Saviour Kasukuwere is now reignited the issue. “The influx of imported second hand vehicles has ...

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imbabwe ATMs now dispensing rands despite market hesitation

Bank withdrawal limits continue to shrink amid reports that some financial institutions have started giving out the South African rand to ease serious cash shortages. As the cash shortages worsen, bank withdrawals dropped in recent weeks to as low as $20 from a usual average of between $100 and $200. An FBC Bank client said that the amount of cash ...

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Thuli-Makwe Irrigation Scheme in joint venture with local investor

Farmers at Thuli-Makwe Irrigation Scheme in Gwanda have entered into a joint venture with a local investor in a development that is expected to enhance agricultural productivity at the underutilised facility. The partnership between Thuli-Makwe Irrigation Scheme and Sense Marketing Private Limited will see the investor occupying 139 hectares of land while 55 hectares will remain in the hands of ...

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