Business

GOVERNMENT has introduced a new ZW$100 note. Finance and Economic Development Mthuli Ncube announced the introduction of a new, note, which becomes the highest Zimdollar denomination, via Statutory Instrument (SI) 68A of 2022 Wednesday. It comes at a time the ZW$10, ZW$20 and ZW$50 notes introduced only last year, have …

A Zimbabwean company that had been banking on Chinese financing to build a major coal-fired power plant says it is now looking for alternative backers as China pulls back on funding such projects overseas. The effort by RioZim Ltd, one of Zimbabwe’s biggest mining and energy companies, reflects how China’s …

Construction company Masimba Holdings had 200% more orders last year than it did in 2020, as it reaps the rewards of increased private and government infrastructure projects. In 2020, the company had projects worth US$72 million on its order book. That order book has grown to US$214 million, up just …

The National Railways of Zimbabwe (NRZ) Monday signed a Memorandum of Understating (MoU) with Indian Railways Infrastructure Consultancy and Engineering Company, RITES Limited whose main focus is on infrastructure development projects. The main focus of the MoU is to support railway transportation through technical support, to offer railway infrastructure development …

THE International Monetary Fund (IMF) has projected Zimbabwe’s economic growth to reach 3,5% this year. The Bretton woods institution however immediately urged government to implement policies which helps tighten the monetary system to contain inflation. In a statement following the conclusion of Article IV consultations with Zimbabwe this week, IMF’s …

MANUFACTURING firm ZimCoke bosses believe they were better placed to resuscitate and acquire assets of the now defunct state-owned Zimbabwe Iron and Steel Company (Ziscosteel) than the recently announced US$1.3 billion Kuvimba Mining deal which they maintain is a pipe dream, sources familiar with the transaction have said. Documents gleaned …

It is a metal found in products used by people worldwide, unthinkingly every day. Whether it’s scrolling on a mobile phone or commuting to work in an electric car, nickel is a key part of these high-tech devices. Now nickel — a prime component in batteries — has the markets …

As Duke’s Mike Krzyzewski emerged as among the nation’s best men’s college basketball coaches in the late 1980s and early 1990s, he began speaking to corporations about leadership and other topics. Those paid talks, and Krzyzewski’s drive to maintain Duke’s spot near the top of the sport, led him to …

SOCIO-ECONOMIC watchdog, Zimbabwe Coalition on Debt and Development (Zimcodd) has called on government to curb mineral leakages and export of raw minerals to help revive the economy. In its recent statement on mineral leakages, Zimcodd said approximately US$12 billion in potential foreign earnings was lost through export of raw minerals. …

South Africa’s civil aviation regulator grounded Comair’s planes indefinitely on Sunday over unresolved safety issues, in a move that also affects low-cost airline Kulula and British Airways, leaving hundreds of passengers stranded. A spokesperson for the South African Civil Aviation Authority (SACAA) said it had extended a 24-hour precautionary suspension …