Business

Government is pushing ahead with measures to screen government contracts but is facing resistance from government and suppliers, Finance Minister Mthuli Ncube said Monday. A memo by Treasury to Parliament turning down payment for laptops trended on social media at the weekend. Ncube says that was just one of several …

Low deposits have hit local banks as the liquidity crunch pushes more depositors out of the formal banking channels, Business Times can report. This comes following a decision by the Reserve Bank of Zimbabwe (RBZ) to tighten its monetary policy stance, mopping excess liquidity in the market as part of …

By Tawanda MatanhireAt a time when going around in one’s own vehicle has ceased to be a luxury but a necessity – there is surprisingly very little information out there to help those that want to buy cars for themselves or others. Most buyers, especially those purchasing second-hand cars for …

By Bindura BureauA foreign based maize seed producer is willing to partner the Zimbabwean government by availing its maize seed for distribution under the Pfumvudza/Intwasa programme, Nhau/Indaba has learnt. Based in Zambia, ZamSeeds introduced itself on the country’s agricultural landscape last year during the 2021/22 season with its drought resistant …

Richard KawaziAs the Zimbabwe Electricity Supply Authority (Zesa) continues to struggle to meet the country’s demand for power, Bindura has released a load-shedding schedule that will see the town having normal electricity supply only three times a week. The town is an important mining and agriculture hub not only in …

Government sincerity will be put to the test this Friday when teachers receive their salaries. Government promised to increase civil servants’ salaries this month and various workers unions say they will decide on whether or not to down tools after they receive their salaries. This was revealed following a meeting …

Milk producer, Dairibord Holdings has lamented the high cost of borrowing making it difficult to strike a balance between covering working capital gaps and financing of capital projects it has lined up ahead. Monetary authorities hiked interest rates for the local currency to 200 percent as part of measures to …

The government is reportedly struggling to pay US$5.2 million owed to a Chinese firm which was contracted to build a new mill which is expected to double production at cement producer Lafarge Cement Zimbabwe (LCZ). Legislators visiting the company at its Harare base on Monday heard that the US$15 million …

Deal-making is still possible in Zimbabwe, if you know your way around For proof, look no further than the transaction that’s just completed around Prospect Resources’ Arcadia lithium project, situated around 38 kilometres east of the capital, Harare. In working up Arcadia, Prospect followed a path that’s been tried and …

The Zimbabwe National Water Authority (ZINWA) has, with immediate effect, increased water charges for both treated and bulk raw water supplies. The latest tariff review, which hits commercial farmers the hardest, has been attributed to inflationary pressure pushing the cost of treating and distributing the precious liquid. ZINWA last reviewed …