Business

Army, police target vendors

A massive joint army, police and council blitz under Operation Restore Legacy will today ignite a possible confrontation with vendors and illegal foreign currency dealers who have trickled back into Harare’s CBD. The message was delivered jointly by the Zimbabwe Republic Police (ZRP), Zimbabwe Defence Forces (ZDF) and Harare Municipal police who spent the better part of yesterday going through ...

Read More »

Innscor, Cabs win top Excellence in Corporate Governance Awards

Innscor Africa was the overall listed companies winner of the Excellence in Corporate Governance Awards, while CABS was the overall banking sector winner. The Deposit Protection Corporation was the winner of the State Enterprises and Parastatals Award. Innscor was judged the overall winner for the second year running for the Best Corporate Governance Disclosures in the listed companies category. The ...

Read More »

Mnangagwa, Mangudya meets Chinese special envoy

President Emmerson Mnangagwa is meeting a special envoy of the Chinese president Mr Cheng Xiodong who is also the Assistant Minister of Foreign Affairs of the People’s Republic of China. The meeting which also includes Reserve Bank of Zimbabwe Governor Dr John Mangudya, interim Minister of foreign Affairs Simbarashe Mumbengegwi and Permanent Secretary for Foreign Affairs Ambassador Joey Bimha is ...

Read More »

Mnangagwa takeover excites diaspora investors

THE new political dispensation has excited the diaspora community which has expressed interest in working with the President Emmerson Mnangagwa-led Government in turning around the economy. The Zimbabwe Business Forum-South Africa, a grouping of Zimbabwean business people based in South Africa, has declared readiness and willingness to set up new businesses and help revive ailing ones in response to President ...

Read More »

Zimbabwe’s Mnangagwa offers amnesty for funds stashed abroad

Zimbabwe’s new President Emmerson Mnangagwa has offered a three-month amnesty for individuals and companies to surrender public funds illegally stashed abroad. In a statement, he said the government will prosecute those who fail to comply when the amnesty ends in February. “Such malpractices constitute a very serious economic crime against the people of Zimbabwe,” Mr Mnangagwa said. Since taking office ...

Read More »

Clean bill of health for UK banks

For the first time since the financial crisis, all of the UK’s biggest lenders have passed the Bank of England’s stress tests. The tests imagine a series of adverse economic scenarios to see whether the banks could continue to lend money to support the UK economy. The Bank said Barclays and RBS did not pass the stress tests in a ...

Read More »

Clear Air Zimbabwe IATA debt, says Nduna

THE Parliamentary Portfolio Committee on Transport and Infrastructural Development says urgent measures are needed to pay back the $4.6 million debt that Air Zimbabwe owes to the International Air Transport Association (Iata). Parliamentary Portfolio Committee chairperson, Mr Dexter Nduna, who is also the legislator for Chegutu West, said the new Government should prioritise releasing funds to Treasury for Air Zimbabwe ...

Read More »

IMF lays down the law for post-Mugabe Zimbabwe

Even before Emmerson Mnangagwa was inaugurated as president last Friday, the International Monetary Fund (IMF) issued a list of demands that post-Mugabe Zimbabwe must meet before being reconsidered for financial aid packages. On Thursday, Reuters was told by IMF mission chief for Zimbabwe Gene Leon that, “While growth in 2017 will be boosted by the bumper harvest due to the ...

Read More »

Bond Notes gain ground

THE ascendency of President Emmerson Mnangagwa to power has created a positive perception in the economy in a move that has seen bond notes gaining some ground against some of the world’s major currencies on the black market. Even though the official rate of the Bond Note to the United States dollar is pegged at 1:1, in the last few ...

Read More »

Mugabe sons launch entertainment company

TripLife Entertainment, a promotions company reportedly owned by former president Robert Mugabe’s sons; Robert Jnr and Chatunga was officially launched at Harem Nightclub in Johannesburg, South Africa on Saturday. Harem Nightclub, located in the posh suburb of Rosebank in Johannesburg, is touted as Africa’s best night club. After the no-show of Nigerian star Tekno, who was supposed to perform at ...

Read More »