Business

CHAIRPERSON of the parliamentary portfolio committee on land and agriculture Justice Mayor Wadyajena has been implicated in the Cotton Company of Zimbabwe (COTTCO) looting scandal after allegations police raided a warehouse that he used to store inputs meant for distribution to farmers. Sources said police officers raided the warehouse at …

The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has granted a much-needed headline tariff adjustment to telecommunications companies amid rising input costs. The last headline tariff review for the telco industry was done close to a year ago, in September last year. However, rising inflation, a weakening local currency …

The Government is aware of the current economic challenges and is seized with implementing several corrective measures to provide both short and long- term relief to citizens, Central Bank Governor Dr John Mangudya said yesterday. A run-away parallel market exchange rate, increasing appetite by business to benchmark prices of goods …

Exporting unprocessed granite is now banned unless authorised by the Minister of Mines and Mining Development as part of the process to add value to Zimbabwean mineral exports. Granite, usually black granite, has been exported for many years, but until very recently was exported as large blocks, almost cubical in …

Innovation and agro-industrial parks at institutions of higher learning are an important tool for agricultural value addition and competitiveness as well as a strategy to support the development of a multiplicity of agricultural food value chains, President Mnangagwa has said. He said strategic national institutions such as universities and tertiary …

Illicit financial flows (IFFs) in the artisanal mining sector in Zimbabwe are responsible for leakages of an estimated 3 tonnes of gold, valued at approximately USD157 million every month. The sector has now spread its tentacles from alluvial gold deposits along rivers and dry riverbeds to large-scale disused mines that …

The $1,86 trillion translated to about US$17,5 billion at the end of last year, with US$6,6 billion in arrears. In the Annual Debt Bulletin 2021 Financial Year report released two weeks ago, the office said total public debt to gross domestic product (GDP) ratio, estimated at 50,9% during the period, …

The Reserve Bank of Zimbabwe (RBZ) auctioned foreign currency which was not available early this year, triggering an allotment backlog. Companies have been at loggerheads with the central bank after it failed to allot the foreign currency with the backlog of about 10 weeks, a situation that left companies exposed …

WHILE Government is taking steps to ensure availability of basic goods to all citizens, consumers have expressed concern over acts of sabotage by some greedy businesses which stand accused of trading certain products only in forex in defiance of a clear monetary policy. Basic goods In order to ensure stability …

FINANCE minister Mthuli Ncube says Zimbabwe is making quarterly token payments to international creditors, including 17 Paris Club members, as the country battles to improve its credit rating. Currently battling a huge debt overhang which has worsened the country’s sovereign risk profile, the authorities in Harare have been left with …