Business

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Belarusian Tycoon’s African Footprint

ZIMBABWE and Belarus have become close allies, united by commercial and diplomatic interests — including shady deals between their leaders — all being carefully cultivated by the far-flung Eastern European country’s controversial tycoon Alexander Zingman. MOSES MATENGA Tellingly, Zingman is close to President Emmerson Mnangagwa and his counterpart Alexander Lukashenko. …

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NRZ Looting Unearthed

An internal audit has uncovered corporate governance rot, and looting at ailing parastatal National Railways of Zimbabwe (NRZ) with board chairperson Martin Dinha (pictured) and his board allegedly blowing millions of dollars on luxuries. The audit report, seen by the Zimbabwe Independent, exposes how the struggling parastatal lost millions of …

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Zim Sinks Deeper Into Debt Hole

The government last year added US$6,45 billion to the public debt as the Treasury assumed the former white farmer’s compensation fund under domestic debt and the Reserve Bank of Zimbabwe (RBZ) legacy loans. In the Treasury’s newly released 2021 Annual Public Debt Bulletin, public debt was ZW$1,86 trillion and using …

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EcoCash Transaction Limits Reviewed

Mobile money service operator EcoCash has adjusted upwards its transaction limits with users now able to send up to ZW$280 000 per month, and to shop and pay bills of up to ZW$400 000 in a single month. “The good news for EcoCash customers is that they can now transact …

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Don’t Come Back With ZWL$ Offer Again, Workers Tell Govt

Aggrieved civil servants say the government team leaders should not return with another ZWL$ offer at the negotiating table as the currency has weakened requiring weekly salary negotiations. The  call comes at a time when the workers rejected the government’s 100%  ZWL$ salary increment last week. The lowest civil servant earns about …

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FINSEC Derivatives Market Launches

News Editor The Financial Securities Exchange (FINSEC) will today launch the Derivatives Market to allow diversification of capital market products and trading, allowing market players to make more informed investment decisions. This follows the recent gazetting of Statutory Instrument 70 of 2022 as well as approval of the Derivatives Rules …

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