Business

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 …

By Richard Kawazi Members of the Bindura Business Community Trust have been infuriated by the local authority’s failure to procure a fire tender despite religious payments for fire services by ratepayers in the town. This follows the destruction of property worth millions of dollars early Thursday morning after fire broke …

Tawanda Matanhire Cars are never meant to be a headache, rather they should be a source of comfort, an asset and provide you with the convenience you require. Ironically, first time car buyers and even some experienced ones, seldom enjoy the ride, asset status or even get value for money. …

The Paramount Group has produced and sold the first military aircraft made in South Africa since the 1980s when state-owned arms maker Denel SOC Ltd. unveiled the Rooivalk, or red falcon, attack helicopter. Africa’s biggest privately owned defence and aerospace company said it’s won orders for the Mwari, a reconnaissance and precision-strike aircraft, and …