November 28, 2024
STRIKE action at the beleaguered National Railways of Zimbabwe (NRZ) could undermine progress in the procurement of a US$460 million loan from the Development Bank of Southern Africa (DBSA) meant to revamp the country’s dilapidated rail network infrastructure, the Financial Gazette can report. Earlier this month, workers from…
GRACE Kwinjeh (GK), a founding member of the Movement for Democratic Change (MDC) who is now based in Brussels, Belgium, spoke to the Financial Gazette’s Assistant Bureau Chief Ray Ndlovu (RN) and gave her assessment of the state of the country’s largest opposition party, which turned 15 years-old…
LAFARGE Cement Zimbabwe, the country’s second largest cement producer, said last week it posted a US$1,7 million loss before tax during the half year to June 30, 2014, from a profit of US$3,7 million during the comparative period last year. Profitability was overturned after Lafarge’s volumes retreat during…
WITH less than two weeks before the start of the 2014/2015 season, indications are that Zimbabwe has not adequately prepared for the coming summer season for it to achieve the maize target of 2,2 million. The agricultural industry requires at least US$2,5 billion to guarantee a successful 2014/20-15…
ZIMBABWEANS are bracing for turbulent times as the beleaguered economy, painfully creeping into recession, faces fresh waves of price hikes, company closures and job losses after a winner-takes-all budget review made largely to raise more cash for government. Analysts warned the budget review would undermine recovery prospects and…
ONE of the stalwarts in the Movement for Democratic Change (MDC-T) led by Morgan Tsvangirai, Jameson Timba (JT), who served as deputy information minister and then minister in the office of the Prime Minister during the inclusive government of 2009 – 2013, has been quiet in the past…
AT least US$300 million is required to fund the purchase of shares in beverages maker, Delta Corporation, the largest listed company on the Zimbabwe Stock Exchange (ZSE) by market capitalisation, to comply with the country’s indigenisation laws, a company executive has revealed. Alex Makamure, Delta’s corporate secretary, said…
A TERROR outfit nicknamed “Boko Haram” has emerged among the youths within the ruling ZANU-PF party in Mbare, one of Harare’s oldest high density suburbs. Although no one could come out and claim membership or leadership of the terror group, sources told the Financial Gazette that the outfit…
SIXTY percent of companies operating in Bulawayo have been placed under judicial management, indicative of the dire state of affairs in the country’s second largest city. Once Zimbabwe’s industrial hub, Bulawayo is now a pale shadow of its former self. Estimates from the Industry Ministry indicate that over…
GOVERNMENT will, within a week, start compensating the 3 000 families resettled in Chingwizi, seven months after they were displaced from their homes by raging floods that hit the Tokwe-Murkosi basin in February. Kudakwashe Bhasikiti, the Minister of State for Masvingo Province, this week made a firm commitment…
