Business

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currency payments for every product should stop the illegal practice forthwith or risk having their operating licences withdrawn, the Government has said.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 …

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 …