Business

ZSE stocks continue to fall unabated

THE weakness on the Zimbabwe Stock Exchange persisted last week with all four indices closing in the negative territory as panic increases due to inflation fears work their way out. At the close, the main industrials index had lost 3,29 percent in the week, while the newly introduced ZSE All Share Index was down 3,37 percent to close at 91,49. ...

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$20k Norton Mortuary Commissioned

January 18, 2018 saw the commissioning of the new and upgraded Norton Hospital Mortuary after it had been abruptly shut down in 2011 due to bad state of the premise. In her opening and welcome remarks the Chairperson of Norton Town young, Clr Preciuos Mufahore said, “The commissioning of the mortuary is a monumental sign to prove that my  administration’s  ...

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Zimra surpasses target by 17%

THE Zimbabwe Revenue Authority (Zimra) exceeded its 2017 gross annual performance by 17 percent while net collections after deducting refunds were surpassed by 10 percent. In a statement accompanying revenue performance report for the year ended December 31, 2017, Zimra chairperson Mrs Willia Bonyongwe said the positive performance was largely due to the tax collector’s concerted efforts to enhance collections ...

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Mnangagwa preps for World Economic Forum

President Emmerson Mnangagwa yesterday said the forthcoming World Economic Forum meeting in Davos, Switzerland, is an opportune platform to show the world that Zimbabwe has transformed and is open for business. He said he would, during the assembly, tell would-be investors that their investments were safe under the new dispensation. The Head of State and Government and Commander-in-Chief of the ...

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Mnangagwa launches investment policy

PRESIDENT Emmerson Mnangagwa yesterday launched the national investment policy statement that outlines the guidelines for investing in and harnessing the opportunities that abound in Zimbabwe. The President launched the guidelines, titled Investment Guidelines and Opportunities in Zimbabwe, at a preparatory meeting for the World Economic Forum meeting to be held in Davos, Switzerland, next week. The preparatory meeting was organised ...

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Zimbabwe banks reject EU financial bailout

Zimbabwean banks have since last year been rejecting access to credit facilities from European banks for on-lending to productive sectors, citing the possibility of failure to repay the loans because of uncertainty caused bond notes. RBZ governor John Mangudya introduced US$200 million bond notes, backed facility in November 2016, to ease a biting cash and liquidity crunch. The move, however, ...

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Zimra appoints new boss

The government has appointed a new Zimbabwe Revenue Authority Commissioner General as the state seek to rejuvenate its operations and clear all the wrong doings by the Robert Mugabe administration in the past. Faith Mazani is the new Comm-General of ZIMRA, replacing Gershem Pasi. Mazani joins ZIMRA from the IMF, where she was a Regional Revenue Assistance advisor. She’s ex-Deloitte ...

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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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