Business

HARARE – The Citizens Coalition for Change which is the majority party in most urban councils says it is prepared to go to court to stop local government minister July Moyo forcing local authorities to buy fire tenders from Belarus at inflated prices. In a shock directive this week, Moyo …

News Editor The Financial Securities Exchange (FINSEC) will today launch the Derivatives Market to allow diversification of capital market products and trading, allowing market players to make more informed investment decisions. This follows the recent gazetting of Statutory Instrument 70 of 2022 as well as approval of the Derivatives Rules …

ZANU PF supporters have strongly warned the party of impending electoral defeat in the 2023 general election and accused some of President Emmerson Mnangagwa’s deployees in government, particularly Finance minister Mthuli Ncube , of failing to address economic challenges while behaving as if they are sabotaging him. The Zanu PF …

Zimbabwe’s central bank said Monday that the price of bread will go down after it held talks with an association of bakers. Governor John Mangudya said bakers had complained over lack of access to foreign currency to import wheat and procure fuel for deliveries. Bakers recently raised the price of …

Local government minister July Moyo on Monday faced fresh accusations of circumventing the public tendering system by ordering rural and urban councils to divert devolution funds to pay for fire engines from a Belarusian company owned by President Emmerson Mnangagwa’s associate, Alyaksandr (Alexander) Zingman. The murky arrangement, which Moyo said was …

Zimbabwe, through Shelter Afrique, is set to host 45 African countries in July to deliberate on housing financing on the continent. Major international financiers, the International Monetary Fund (IMF), African Development Bank and other developers have confirmed participation including at least 25 reserve bank governors from the continent, a Cabinet …

Hospitality group, African Sun Limited, is committing millions of dollars this current financial year, towards sprucing the image of its facilities as it repositions itself for the anticipated tourism rebound. The group has indicated one of its focus areas is enhancing guest experience and consolidate its market share. At Troutbeck …

Local authorities are not allowed to arbitrarily attach property from residents or engage debt collectors to recover outstanding debts of rates and levies, but should pursue other options to recover the money they are owed. Responding to questions from back benchers in Parliament last week, Public Works and National Housing …

Green-tech company Agilitee, which recently set up shop in Zimbabwe to manufacture electric vehicles and other green energy products, has re-organised its structures as it angles to raise US$2 billion through a global capital raising roadshow. Demand for electric vehicles, which do not use fuel, is surging, as the global …

GOVERNMENT’S Gold Incentives Scheme (GIS) has come under scrutiny amid indications it is largely benefitting politically connected persons, mainly President Emmerson Mnangagwa’s close ally Pedzisayi “Scott” Sakupwanya – a Zanu PF councillor – and his Better Brands Jewellery (BBJ) company which pocked US$460 million in revenues last year at the …