CBZ Holdings boss Blessing Mudavanhu has been named both the Institute of Directors Zimbabwe (IoDZ) 2021 director of the year and chief executive of the year. Mudavanhu was appointed CBZ group chief executive in June 2018 and led a turnaround of the perennially underachieving financial behemoth into a high performing blue chip. Speaking at the…
AMERICAN great Serena Williams says she is “heartbroken” after her latest attempt for a record-equalling 24th Grand Slam was cruelly ended by injury. Williams started against Aliaksandra Sasnovich with heavy strapping on her thigh and slipped in the fifth game. The 39-year-old went down again in the seventh game and was overcome by emotion before…
The stock market value of Facebook has topped $1 trillion for the first time after the tech giant won a court victory against US regulators. A federal court dismissed two lawsuits, from the Federal Trade Commission (FTC) and a coalition of states, sending Facebook shares up 4.2%. It took the value of Facebook above $1tn,…
THE tourism sector says 70 percent of its employees have been vaccinated against Covid-19 as it bids to avert another travel shutdown in the wake of a third wave of infections. The industry is concerned by rising Covid-19 cases which last week saw a rolling seven-day average of 627 infections a day. “As an industry,…
WEST Property Zimbabwe says it is planning to build a shopping mall in Harare, which will be the biggest in the country. Speaking during a virtual unveiling of the company’s new apartments in Borrowdale this week, West Property group founder and chief executive Kenneth Sharpe, said while there was no definite timeline as yet, the…
THE men’s Twenty20 World Cup has been moved from India to the United Arab Emirates and Oman because of the coronavirus pandemic. The 16-team tournament will still take place from 17 October to 14 November. The International Cricket Council (ICC) gave India a deadline of Monday to say whether it could still host the tournament…
ZIMBABWE’S winter wheat hectarage has increased by more than half from the same period last year. Information minister Monica Mutsvangwa told reporters after this week’s Cabinet meeting that all the winter production schemes have recorded varying increases from their 2020 figures. This year’s winter wheat farming is supported through three programmes ― CBZ Agro Yield,…
THE Insurance and Pensions Commission (Ipec) expects to see improved compliance following the launch of a new solvency framework which seeks to align insurers’ capital to the risk they carry. The new framework, the Zimbabwe Integrated Capital and Risk Programme (ZiCARP), is expected to help ensure that each insurer can withstand any risk it is…
GOVERNMENT says it is ready to support Varichem Pharmaceuticals to resume antiretroviral drugs (ARVs) production as part of health authorities’ plan to resuscitate the local drug manufacturing sector. Varichem was the first company in Africa to manufacture ARVs. It was exporting the essential drugs to South Africa, then Sudan, the Democratic Republic of Congo (DRC)…
GOVERNMENT has hiked the minimum monthly insurable earnings to the National Social Security Authority (Nssa) from $5 000 to $21 641. The new rate would be calculated at 75 percent of the prior month’s Total Consumption Poverty Line (TCPL) for an average of five persons per household as published by the Zimbabwe National Statistics Agency.…
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