Democratic Alliance (DA), South Africa’s largest opposition party, has elected John Steenhuisen as its new leader. The 44-year-old, who has acted as interim party leader since its first Black leader Mmusi Maimane stepped down more than a year ago, secured a whopping 80 percent of Sunday’s virtual vote over his competitor, Mbali Ntuli. Steenhuisen’s triumph…
DRIVING around the periphery of the Municipality of Harare, or even in some areas closer to the central business district, one is exposed to an irritating eyesore — the unplanned haphazard urban settlements whose image does not auger well for a city striving to attain world class city status. This is not a problem common…
FINANCE minister Mthuli Ncube is concerned that failing state-owned enterprises (SOEs) will derail Zimbabwe’s rosier 2021 economic prospects. This comes as the government is targeting a gross domestic product (GDP) growth rate of 7,4 percent next year, from a projected official contraction of 4,5 percent in 2020. At the same time, the International Monetary Fund’s…
A TOTAL of 1,26 billion shares worth $5,67 billion were traded on the Zimbabwe Stock Exchange (ZSE) during the third quarter of the year, latest data has shown. In a market report for the quarter ending September 30, Akribos Research Service (Akribos) said Bindura Nickel Corporation dominated trades during the period under review, with 926,8…
FINANCE minister, Mthuli Ncube, says Zimbabwe should minimise the mortgaging of its resources to build better relations with its creditors. The southern African nation which has been shut out by major lenders who include the International Monetary Fund, World Bank and the Africa Development Bank Paris Club has of late relied on the Afreximbank for…
THE Zimbabwe Anti-Corruption Commission (Zacc) is pushing for changes in legislation that would allow it to keep 15 percent of crime proceeds that it recovers. This comes after Finance minister Mthuli Ncube recently conceded that the country’s crime-busting agencies — including Zacc — were seriously under-resourced. “Funding is a challenge and the commission has continued…
THE government is set to crackdown on businesses charging goods in United States dollars and remitting their taxes using the local currency, Finance minister Mthuli Ncube told Parliament recently. This comes as the Zimbabwe Revenue Authority (Zimra)’s tax revenue figures took an 18 percent dip in the first seven months of the year due to…
ZIMBABWEAN banks and industry are sceptical about the government’s plan to pump $18 billion in rescue loans into the struggling economy amid fears that the move could stoke inflationary pressures. Local firms have for long been pressed for liquidity and the situation has been heightened on account of disturbances to business caused by the Covid-19…
SHABANIE Mashava Mines Holdings (SMM) is in negotiations to sell its 43 percent stake in conveyor belts manufacturer, General Beltings Holdings (GB). The troubled asbestos producer, which was mothballed 15 years ago, and has been under administration for more than a decade, has been selling assets to clear its huge debt to pave way for…
THERE has been a significant increase in the number of black, Asian and minority ethnic staff in the music industry since 2016, a new report says. The proportion of minority ethnic employees has risen from 15.6% in 2016 to 22.3% this year, according to trade body UK Music. The report noted that representation is worse…
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