April 29, 2024
It emerged this week that the MDC-M has been rocked by a fresh wave of defections in Matabeleland province ahead of the party’s elective congress to be held before the next general and presidential elections. Three councillors from the troubled party, reportedly rocked by a leadership battle between…
President Robert Mugabe has previously stated that foreigners should not own more than 51 percent shareholding in local companies in line with the country’s quota system, a policy that culminated in the enactment of the Indigenisation and Empowerment Act.But last week, Industry and Commerce Deputy Minister, Mike Bimha,…
The budget is expected to lay the foundation to accelerate the sluggish recovery that has taken place in the country since the consummation of the government of national unity in February last year.A statement from the Parliament of Zimbabwe said yesterday confirmed Biti’s presentation to the nation on…
An announcement giving legal force to the takeover is due to be made by the RBZ in the next few weeks through a Government Gazette.The approval is seen putting paid efforts by former CFX workers who were resisting retrenchments spawned by the deal.On Tuesday, the RBZ said the…
As the diamonds saga plays itself in the courts, it has emerged that the final and confidential Zimbabwe Mining and Development Corporation (ZMDC) board investigation committee report was tempered with to rephrase and exclude the names of influential politicians (names supplied) said to be backing one of the…
The price hikes, which were a harbinger to the country’s worst ever economic crisis since independence that lasted for over 10 years, are creeping back with the consumer basket slowly getting out of reach of an average consumer.Although there is no clear indication as to the exact cause…
Zuma, who is keeping his counterparts in the Southern African Development Commu-nity (SADC) briefed on the deteriorating situation in Zimbabwe, had dispatched his facilitation team to Harare on Monday following the dramatic total fallout between rivals, President Mugabe and the Prime Minister, who are no longer on talking…
Owned 51 percent by Kaukonde’s Scotia Holdings, the joint venture company, Face Technologies Zimbabwe, started operations this month. Face Technologies South Africa owns the 49 percent balance in the Zimbabwean operation.The project is one of the earliest examples that demonstrate compliance with the Indigenisation and Economic Empowerment Act,…
In its report to a pre-budget seminar held in Victoria Falls last week, the Budget, Finance and Investment Promotion Parliamentary Committee said the issue of state employees’ salaries required urgent attention in the forthcoming national budget, describing the current salary level averaging US$160 per month as a starvation wage.The…
The Financial Gazette can exclusively reveal that debate on whether the prevailing political and economic environment is conducive for the staging of free and fair elections next year had to be referred to the party’s annual people’s conference to be held in Mutare next month after ZANU-PF bigwigs…
