Business

The Finance Ministry has vowed to go after Local Authorities who are defying the directive to collect all rates payments in ZW$ instead continuing to set demands for the US$ in serious breach of government policy. In May this year, the government directed all agencies including local authorities to collect …

The Harare City Council (HCC) has reversed its controversial decision to bill rate payers in US dollars only following a treasury order for the local authority to abandon the action. Town House had announced the measure claiming this was a way to preserve the value of the city’s bank balances …

Botswana and De Beers Group have agreed a new diamond sales deal in which the African country, the world’s No. 1 diamond producer by value, gradually increases the share of rough stones it gets from their joint venture Debswana over the next decade to 50%, the government and the mining …

Facebook owner Meta is launching its new app to rival Twitter and says it will go live on Thursday. The app, which is called Threads and is available for pre-order on the Apple App Store, will be linked to Instagram. Screengrabs show a dashboard that looks similar to Twitter. Meta …

The Zimbabwe National Water Authority (Zinwa) has come under fire for introducing a US$10 fixed monthly charge for domestic users yet failing to deliver water to clients, The NewsHawks has established. Zinwa’s corporate communication department said in a statement the move was introduced last month. ‘‘Zinwa wishes to advice clients …

The Reserve Bank of Zimbabwe (RBZ) latest Gold Backed Digital Tokens sales mopped up a total ZW$246,5 million going a step further in cleansing the market of bad excess cash normally used to fuel parallel market activities. The tokenised digital coins were introduced in a bid to shore up the …

Zimbabwe is considering exporting surplus wheat to Mozambique from this year’s anticipated harvest of 420 000 tonnes, well above the country’s requirements of 360 000 tonnes a year. Last year, a record harvest of over 375 000 tonnes was achieved after planting wheat on 80 000 hectares, and that created …

Tanganda Tea Company Ltd (TTCL) says it is optimistic that it has all the necessary mitigatory strategies to navigate the difficult terrain during the remaining part of the financial year. This comes as the economic and operating environment is expected to remain difficult on the backdrop of continued exchange rate …

Victoria Falls Stock Exchange (VFEX)-listed group, Caledonia Mining Corporation, has declared a quarterly dividend of US$0.14 on each of the entity’s shares expressing optimism that various opportunities are available to evolve as a business. The firm has been consistent in paying dividends to shareholders. “Caledonia Mining Corporation Plc (“Caledonia” or …

Techurate Systems, an Indian global smart banking technology firm, has hinted on plans to partner the Zimbabwean Government in offering digital financial services and streamlining the unbanked enterprises as the country moves to grow its financial inclusion drive. Zimbabwe has about 31 000 Savings and Credit Cooperative Organisation (SACCOs), with …