Business

PETROZIM Line (Private) Limited, an entity wholly owned by the National Oil Infrastructure Company of Zimbabwe, has set an ambitious target  to establish Harare as the regional hub for fuel distribution. The upgrade project, according to PZL executive director Peter Masvikeni, is at an advanced stage, with detailed designs having …

MAZOWE district war veterans’ chairman Ephanos Mudzimunyi, who grabbed former cabinet minister and Zanu PF supremo, Saviour Kasukuwe’s Concorpia farm in Mazowe, has run the once thriving estate down. The roadside farm, like similar neighbouring estates, used to be a thrilling spectacle as one drove past, with fusing of ripening …

TOP economist Eddie Cross Monday gave a gloomy image of Zimbabwe’s battered economy but maintained dollarising it will destroy the country’s re-industrialisation drive.  Speaking to NewZimbabwe.com Monday, Cross said although the country’s inflation rate was “worryingly” on the increase, the much-preferred US dollar was not Zimbabwe’s solution to its economic …

DEALERS at Ximex Mall have challenged each other to come wearing slops on Saturday. They say it’s a way to confirm, and show the world, that they still have their toes intact. “We are now having problems with people who are coming here asking to be linked with whoever is …

ZIMBABWE’S pariah state tag haunted President Emmerson Mnangagwa’s recent visit to the Davos World Economic Forum in Switzerland with political analysts equating the journey to a trip of shame. Mnangagwa was one of the four African heads of state who joined the political and business elite in Davos for the …

Delta Beverages Holdings (PVT) LTD has lost an attempt to overturn a High Court Judgement granted last year in a long-standing legal battle with South African conglomerate Blackey Plastics over a 5 year supply chain agreement involving USD125 million dollars. With the concurrence of the whole bench, Supreme Court Judge …

Investigations have been instituted into the operations of the National Social Security Authority (NSSA) after many allegations have been filed with Government of corporate rot and malfeasance and complaints that the pensions offered keep the elderly in abject poverty. In a statement yesterday, Public Service, Labour and Social Welfare Minister, …

THE insurance sector says it is being prejudiced of millions of United States dollars because foreign investors are coming in with their own cover at the expense of local providers. Some investors, mainly in construction, marine and mining sectors are bringing their own insurance when they come to Zimbabwe despite …

PONZI schemes have resurfaced, prompting the Securities and Exchange Commission of Zimbabwe (SecZim) to warn that they threaten an already fragile economy. Speaking to NewsDay at a workshop in Kariba last Friday, SecZim acting chief executive Gerald Dzangare said:  “One of the most painful things that have happened in our …

BUSINESSMAN Delish Nguwaya has claimed that the late former Zimbabwe Investment Development Agency (ZIDA) chief executive,  Douglas Munatsi (pictured), was heavily involved in the US$400 million Pomona dumpsite deal that has become an emotive subject and is being challenged by stakeholders over allegations of corruption, court documents have revealed. Munatsi …