Business

Dangote returns after Zimbabwe bribery shock

Nigerian billionaire Aliko Dangote’s much-hyped plan to invest $1 billion in Zimbabwe’s cement, coal and power industries in 2015 collapsed after political bigwigs pressured him to ‘grease their palms’. Dangote left after no action was taken by the government on the issue. Investment consultant Josey Mahachi-Agbeniyi said Dangote is considering coming back to Zimbabwe following President Mnangagwa strong stance against ...

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Chivayo, business partner clash

BUSINESSMAN Mr Wicknell Chivayo is embroiled in boardroom squabbles with his business partner Mr Yusuf Ahmid whom he accuses of plotting to elbow him out of Intratrek Zimbabwe Private Limited. Mr Chivayo – who is the founder and managing director of Intratrek – is battling to protect his interests in the firm, arguing that they own 50 percent shareholding apiece. ...

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Potraz cracks whip on NetOne over Onefusion blunder

THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has directed NetOne to compensate all subscribers who lost airtime on the Onefusion package over the weekend due to a faulty billing system. Further, Potraz has demanded a database which indicates the total number of affected subscribers, identity and the extent of the prejudice they suffered. This was said by Potraz ...

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Mobile network operators directed to tackle money transfer hiccups

GOVERNMENT has directed mobile network operators to integrate services and facilitate interoperability of mobile money in line with the country’s financial inclusion strategy. In view of the persistent cash shortages, electronic transactions are on the increase in Zimbabwe with thousands of the unbanked population using mobile money services to transact. The Ministry of Information Communication Technology and Cyber Security has ...

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Govt moves to promote local motor industry

Government has launched the Zimbabwe Motor Industry Development Policy 2018-2030 (ZMIDP) as part of efforts to promote growth of the local motor industry and increase capacity utilisation by over 90 percentage points in the next 12 years. Successful implementation of the policy should see capacity utilisation for local car assemblers improve from the current rate, which is under 10 percent ...

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Adoption of Victoria Falls (SEZ) to boost tourism arrivals in marginalised Mat North

The Government of Zimbabwe is set to consider the adoption of the Victoria Falls Tourism Special Economic Zone corridor approach which will go a long way in addressing imbalances in product profiling within Matebelaland North region, a move which is set to benefit marginalised communities especially such as Gwanda and the part of lower Zambezi area which have been excluded ...

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ZIMRA and SMEs meeting in Filabusi

The Zimbabwe Revenue Authority and the Small to Medium Enterprises are holding a meeting at Inyanda lodge in Filabusi today starting at 9am. The stakeholders conducting the meeting have since advised all those who have flea markets, trading stalls and general dealerships to attend the meeting in which the tax collector intends to educate them about the importance of paying ...

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Mohadi meets EU, British envoys

The national peace and reconciliation process is wholly Zimbabwean and should be respected by every country, European Union ambassador to Zimbabwe Mr Phillipe Van Damme said yesterday. Speaking after paying a courtesy call on Vice President Kembo Mohadi in Harare yesterday, Mr Van Damme also said the forthcoming harmonised elections were critical in shaping the EU’s relations with Zimbabwe. “The ...

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Ingwebu requires $100m war chest

Ingwebu Breweries which was unbundled last year needs more than $100 million to be fully turned around, Bulawayo City Council (BCC) mayor, Martin Moyo, has revealed. Ingwebu has been run under Bulawayo Municipal Commercial Undertaking, a wholly-owned BCC business entity since 1996. But the entity fell on hard times, making persistent losses, with the latest being $2 million in the ...

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Zimra won’t write-off the $3.9bn owed by companies and councils

ZIMBABWE Revenue Authority (Zimra) will not write-off the $3,9 billion it is owed by companies and councils, as this will set a bad precedent of not paying dues, a top executive told a parliamentary portfolio committee on Monday. Zimra commissioner for domestic taxes, Happias Kuzvinzwa told a Parliamentary Portfolio Committee on Finance and Economic Development that the authority has negotiated ...

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