Business

The Reserve Bank of Zimbabwe (RBZ) has tightened its stance on cryptocurrencies amid fears it will struggle to control the value of cryptos used by the population and failure to protect vulnerable consumers, Business Times can report. RBZ director of economic research and policy, Nebson Mupunga, said it will be …

With keen interest to reposition itself as a must visit tourism destination in Southern Africa, Zimbabwe is part of 185 countries participating at this years International Tourism Bourse (ITB), starting today in Germany.  The country is being represented by the Ministry of Environment, Climate, Tourism and Hospitality Industry together with …

The persistent power supply challenges dampened production for sugar refiner-Star Africa Corporation during the third quarter to December as it reduced plant time. A number of companies have been affected by the ongoing electricity cuts which are likely to weigh down on profit. In its Q3 trading update, the group …

Gold Star, a subsidiary of ZSE-listed StarAfrica, has temporarily closed its Harare refinery and placed employees on indefinite leave, citing a sharp increase in raw sugar prices by its supplier Tongaat Hulett. Gold Star commercial executive Revesai Gwenhamo said raw material price increases made their operations unprofitable. “We are writing …

The Zimbabwe dollar official exchange rate has converged with the parallel market premiums while at the same time falling within internationally acceptable margins the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction latest results have revealed. A trading update released at the close of business Tuesday shows that the official …

When global leaders gathered at the annual World Economic Forum conclave in Davos last month, they were looking at a bleak economic scenario. Two-thirds of the economists polled by the WEF for its Chief Economists Outlook report said a global recession – a shrinking of the world’s gross domestic product …

By Purity MarungisaFormer TelOne managing director, Dr. Chipo Mutasa has been appointed as the new Chairperson of the beleaguered Air Zimbabwe with immediate effect. Her appointment was announced by Minister of Transport and Infrastructural Development, Felix Mhona Monday. She replaces Dr. Silvanos Gwarinda who was appointed substantive chair on August …

Belarus President Alexander Lukashenko this week travelled 7 982 kilometres, the distance by air from his capital Minsk to Harare, in his first sub-Saharan visit to meet President Emmerson Mnangagwa for critical talks on bilateral issues and contracts involving his cronies, but the big deal was the country’s natural resources …

Government has with immediate effect restored the operating licence for Rimbi Tours Private Limited, after suspending the bus company from operating following a fatal accident last month. The accident claimed one life on the spot at the 160km peg along the Harare-Nyamapanda Highway and injured several last month after his …

One of Zimbabwe’s leading petroleum supply company, Trek Zimbabwe, has sold its stake to a new investor at the same time booting its managing director Innocent Mugwisi, after some operational disagreements with other shareholders. Insiders told Zim Morning Post Mugwisi left the company on 31 January 2023 upon the arrival …