Business

Requirements for vehicles in Zimbabwe

In terms of Statutory Instrument 154 of 2010, members are reminded that requirements for reflectors and other markings necessary, plus equipment to be carried by motorists in vehicles in Zimbabwe, include the following. All reflectors on vehicles in Zimbabwe must be of the honeycomb or diamond grade, Writes Victoriafalls-guide. There has been some confusion on exactly what the requirement is ...

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Econet refuses to share infrastructure

Information Communication Technology minister Supa Mandiwanzira says Econet Wireless is still refusing to fully share its infrastructure despite a legal framework put in place. Mandiwanzira told journalists on Thursday during a tour of TelOne’s fibre project along the Bulawayo-Beitbridge Road that Econet was not open to infrastructure sharing. “The Statutory Instrument (SI 137 of 2016) is out and we expect ...

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Vingirai takes control of Mashonaland Holdings

NICHOLAS Vingirai, through his investment vehicle, Transnational Holdings Limited (THL), has taken control of Mashonaland Holdings (Mashold) following the appointment of his crony, Michael Mahachi, as chairman of the property investment and development concern. Mahachi, a property developer and a THL nominee, has replaced ZB Financial Holdings (ZB) chief executive officer, Ronald Mutandagayi. Other THL nominees to the Mashold board ...

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Cops in running battles as workers’ wives besiege mine

POLICE in Bubi district yesterday fought running battles with Turk Mine workers’ wives, who reportedly besieged the mine demanding their husbands’ outstanding salaries. The miners’ wives have been picketing the company premises since Monday demanding an improvement in their husbands’ working conditions, forcing police to fire tear smoke after the protestors reportedly turned rowdy. “The police randomly fired teargas at ...

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Zimbabwe horticulture exports fall to $83mln

Zimbabwe exported horticultural products worth $83 million in 2016, down from $96 million the previous year, according to the trade promotion agency, Zimtrade. “Horticulture exports have shown a steady increase from $71 million in 2012 to $96 million in 2015, although there was a dip in 2016 to $83 million,” Zimtrade chief executive, Sithembile Pilime said at the launch of the ...

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20 firms eye NRZ stake

MORE than 20 potential investors have expressed interests in partnering the National Railways of Zimbabwe in its bid to recapitalise its operations. In a telephone interview with Sunday Business on Friday, NRZ board chairman Mr Larry Mavima said the company was overwhelmed by the response it was getting from various potential investors across the globe. The Government gave NRZ the ...

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Zimbabwe could seize idle mining claims

Zimbabwe says it could repossess unused mining claims from large companies and redistribute them to small-scale miners in a bid to increase mineral output. Mining plays a critical role in the southern African nation, accounting for 60 percent of exports. An official document distributed to mining houses attending the Chamber of Mines conference in Victoria Falls on Friday outlined that ...

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ZB regains foreign accounts after removal from US sanctions

ZB Financial Holdings has regained use of most of its foreign correspondent banking accounts since its removal from the US sanctions list in October last year, a senior bank official said. The US Treasury, through its Office of Foreign Assets Control (OFAC) had imposed restrictions on the bank as part of a wider sanctions campaign against Zimbabwe. Under the sanctions ...

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Cash shortages, roadblocks hamper tourism

The Zimbabwe Council for Tourism (ZCT) said prevailing cash shortages, taxes and numerous police roadblocks continue to distress the tourism sector. In 2015, Government imposed a 15 percent tax on hotel accommodation for foreign tourists. ZCT president Tich Hwingwiri told media that the 15 percent Value Added Tax (VAT) on hotel accommodation is also a hindrance to expansion of the ...

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Turning around the economy through national monuments

Efforts by the Zimbabwe National Museums and Monuments (ZNMM) to refurbish the Kopje hill must be highly praised. The Kopje monument has been lying idle for almost two years after the MDC-T led Harare city council failed to properly maintain it. This positive move by ZNMM is laudable and should be done to all national monuments so as to unlock ...

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