Business

Bikita Rural District Council (BRDC) has been caught in a corruption storm in which officials registered in their personal names vehicles worth US$380 000 bought by the local authority, a report has revealed. The council bought six Toyota GD6 trucks for its managers at an estimated cost of US$40 000 …

Individuals and institutional buyers of Reserve Bank of Zimbabwe (RBZ’s) gold coins will be required to hold them for at least 180 days before selling while exporters earning less than a million US dollars will be allowed to use the surrender portion of their receipts to purchase the coins in …

DEBT-TROUBLED Zimbabwe has launched its arrears clearance and debt management programme at a time the economy is struggling to access concessional facilities to finance capital projects. After years of neglect, the government has in recent years been using domestic financial resources to mend key infrastructure such as the road network. …

PRESIDENT Emmerson Mnangagwa will on Wednesday commission the US$500 million Cyber City project in Mount Hampden, Harare after Dubai-based billionaire Shaji Ul Mulk pledged to fund the project. Ul Mulk jetted into the country on Sunday specifically for the event. The multi-million-dollar project is likely to give Mnangagwa a smile …

Exchange Control Directive RX 20 (dated 18 July 2022) issued in terms of Section 35 (1) of the Exchange Control Regulations, Statutory Instrument 109 of 1996 1. INTRODUCTION 1.1 Pursuant to the Press Statement of 4 July 2022, announced by the Governor on the introduction of the Mosi-oa-Tunya gold coins, …

THE Zimbabwe Electricity Supply Authority (ZESA) Holdings has intensified a nationwide blitz aimed at disconnecting power supplies to defaulting customers who owe more than ZW$30 billion. The development comes at a time the power utility company is requiring US$17 million every month for electricity imports to meet local demand. This …

President Emmerson Mnangagwa’s brother Patrick, Finance minister Mthuli Ncube, a prominent businessman, diplomats, Zanu PF acolytes from the Marange apostolic sect and bureaucrats have settled inside the highly protected Midlands Black Rhino Conservancy (MBRC), The NewsHawks can reveal. They join Chief Secretary to the President and Cabinet Misheck Sibanda, who …

CONNECTED syndicates linked to Zimbabwe Miners’ Federation president Henrietta Rushwaya (pictured) are plundering rich gold fields in Mazowe, a fresh report has revealed.  Mazowe is located about 50km from Harare in Mashonaland Central province and has largely been one of the gold-rich areas in Zimbabwe. The vast Mazowe gold fields …

The African Development Bank Group (AfDB) has advanced US$4.2m in institutional support to bolster Zimbabwe’s capacity in coming up with an arrears clearance and debt resolution roadmap which is key in unlocking fresh lines of credit for the economy. The support, announced by AfDB president Akinwumi Adesina, comes as Harare …

Pricing of goods exclusively in US dollars remains completely illegal and businesses not accepting local currency payments for every product should stop the illegal practice forthwith or risk having their operating licences withdrawn, the Government has said. Some businesses are pegging prices for some of their products exclusively in US …