Business

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Zim Debt Under Spotlight At Crucial AfDB Indaba

ZIMBABWE’S plan to secure a US$1 billion bridge financing facility backed by the African Development Bank (AfDB) will later this month be on the regional lender’s agenda when it holds its annual meetings in Ghana, The NewsHawks has established. Zimbabwe has had arrears with the AfDB and the World Bank …

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Employer Awards Pay Rise After Angry Workers Sabotage Sugarcane

SUGAR processor Tongaat Hulett Zimbabwe (THZ) was last week forced to increase salaries after disgruntled workers torched plantations of unripe cane in protest over low wages. The incident took place after the company and unions representing the employees reached a deadlock during a collective bargaining process which began in March …

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Companies Demand Cash Payment As Mnangagwa’s Decree Backfires

ZIMBABWEAN companies are now operating on a “strictly cash” or “payment upfront” basis in the aftermath of a catastrophic decree by President Emmerson Mnangagwa barring banks from lending. Companies that operate through overdrafts and short-term loans are hamstrung after the government closed the tap on liquidity they desperately need for …

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ZCTU Slams Mnangagwa For Sidelining TNF

THE Zimbabwe Congress of Trade Unions has slammed President Emmerson Mnangagwa for implementing a raft of economic stabilisation measures before consulting with partners at the Tripartite Negotiation (TNF) and warned the measures could trigger massive job cuts. The TNF is a social dialogue platform which brings together government, business and  …

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Govt Debt Assumption Burdens Overtaxed Citizens

The continuous assumption by the government of secret debts accrued by the Reserve Bank of Zimbabwe (RBZ) is harmful to Zimbabweans as they are forced to pay back these funds, the Zimbabwe Coalition on Debt and Development (ZIMCODD) has said. These observations from ZIMCODD, a social and economic justice watchdog, come after …

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Banning Lending Will Endanger Banks’ Viability, BancABC Warns

On May 7, President Emmerson Mnangagwa announced a cocktail of measures he said were aimed at stabilising the rapidly depreciating local currency. The measures included an indefinite suspension of lending by banks. One of the local banks, BancABC, sent the following analysis of the president’s speech to its customers: Restoration …

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Experts Condemn Mnangagwa’s ‘Paranoid’ Measures, Predict Economic Bloodbath

VARIOUS stakeholders and experts roundly condemned economic stabilisation measures introduced by President Emmerson Mnangagwa to “stop economic hitmen” from sabotaging his under-fire administration. They said the measures, mainly the banning of lending by banks, were unconstitutional, inadequate, and ill-advised. Experts also said the measures would result in a serious economic …

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Low Pensions Force Workers To Resist Retirement

LOW pensions payouts by both private and public sectors to workers has forced many to shun retirement. Some workers have reportedly gone to the extent of misrepresenting their dates of birth to postpone retirement from the organisations they would have served. 360p geselecteerd als afspeelkwaliteit What makes it worse is that the ongoing …

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