Business

A trade union has given the Zimbabwe Stock Exchange-listed resources outfit RioZim a seven-day ultimatum to recapitalise and settle outstanding salaries or face administration. In a letter addressed to RioZim chairperson Saleem Rashid Beebeejaun, the Zimbabwe Diamond Mineral and Allied Workers Union (Zdamwu) claimed that for too long, workers at …

A tourism investment forum hosted by the Zimbabwe Tourism Authority (ZTA) has been scheduled on the sidelines of the upcoming Sanganai/ Hlanganani World Tourism Expo, the authority has said. Scheduled for October 14, 2022 at the Zimbabwe International Exhibition Centre in Bulawayo, the forum will be headlined by the theme: …

A Chinese-run gold mining company operating in the Odzi peri-urban area of Mutare district has been accused of ill-treating workers and flouting the country’s labour laws and regulations. Registered as Odzi Resources Zimbabwe Private Limited while trading as Ming Chang Sino Africa Investments, the company runs a number of gold …

Australia’s Invictus Energy has begun drilling the Mukuyu-1 exploration well in Zimbabwe. The company spudded the well on September 24, targeting a total depth of 3,500 metres. It said this should take around 50-60 days to complete. Mukuyu is one of the largest exploration prospects to drill this year. Invictus …

As confidence in the Zimbabwe tourism sector continues to surge, the Zimbabwe Tourism Authority (ZTA) is leaving no stone unturned in bringing the country back to its spot as one of the best tourism destinations in the world. Officials of the entity are exhibiting Zimbabwe at the ‘Tourism Expo Japan’ …

Predatory cartels of “tenderpreneurs” preying on Zimbabwe’s lax procurement systems, prejudicing government of millions of United States dollars, are baying for the blood of Finance minister Mthuli Ncube and his secretary George Guvamatanga who have been plugging revenue leakages. Tenderpreneurship — a term widely used in South Africa and has …

The Justice ministry has gone for years without accounting and declaring dividends for two investments made using taxpayers’ funds, Auditor-General Mildred Chiri’s report has revealed. Chiri’s report on the appropriation accounts, finance and revenue statements and funds accounts for 2021 showed that the Ministry of Justice, before 2017, bought 11 …

The gold coins that have been in circulation in Zimbabwe for almost three months are a missed chance to build the nation’s gold reserves, according to the International Monetary Fund. “The sale of gold coins has contributed to withdrawing Zimbabwe dollar liquidity from the market, though it represents an opportunity cost …

Zimbabwe is lagging behind in the implementation of key aspects of a Sadc plan meant to enforce sound management and transparent public financial management raising questions on the country’s commitment to embrace scrutiny. The Sadc Regional Indicative Strategic Plan (RISDP) 2020-2030 and its accompanying model law penned by the Sadc …

Local banks are engaging the Reserve Bank of Zimbabwe (RBZ) to persuade the apex bank to loosen the tight monetary policy stance and avoid a possible economic and financial crisis, Business Times can report. The banks said the cash crunch, triggered measures that resulted in the mopping of excess liquidity …