Business

A new report has exposed government complicity in human trafficking, with the authorities failing to act on several cases involving abuse of local and foreign nationals. According to the United States State Department Trafficking in Persons report on Zimbabwe, there is no political will to fight human trafficking. Some officials …

President Emmerson Mnangagwa summoned finance minister, Mthuli Ncube and the Reserve Bank of Zimbabwe governor, John Mangudya, to a crisis meeting over the worsening economic condition, it has been learnt. Multiple government sources told Business Times that the meeting held at the State House on Thursday, Mnangagwa demanded that Ncube …

Russia has resumed pumping gas to Europe through its biggest pipeline after warnings it could curb or halt supplies altogether. The Nord Stream 1 pipeline restarted following a 10-day maintenance break but at a reduced level. On Wednesday, the European Commission urged countries to cut gas use by 15% over …

Zimbabwe is choking under mounting international debt as it begins to pay the price for borrowing heavily from China for infrastructure projects at the tail end of Robert Mugabe’s rule. Beijing funded the expansion of Victoria Falls International Airport and that of the southern African country’s main source of electricity, …

Zimbabwe’s unemployment rate now stands at 19% basing on the strictest definition of employment, Zimbabwe National Statistics Agency (ZIMSTAT) has reported. The details, contained in the agency’s Quarterly Labour Force Survey for the first three months, showed the country’s unemployment rate is relatively lower. ZIMSTAT’s definition of employed people includes …

A court bid to stop the transfer of 100 hectares of land in Harare to a company owned by property tycoon Kenneth Raydon Sharpe has failed after the High Court said the challenge was filed out of time. Justice David Mangota said the legal challenge brought by the Zimbabwe Homeless …

Zimbabwe has reduced the price of petrol by 0,3% to ZW$675,35 per litre as the country battles to ease the cost of living for citizens. A recent update by the Zimbabwe Energy Regulatory Authority (ZERA) shows that diesel will also be sold at Z$714,45 per litre from Z$714.91. The developments …

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. …