November 26, 2024
BAZ chief executive officer, Obert Muganyura, said the two national commercial radio services would be operated on the Frequency Modulation (FM) radio broadcasting band which has a capacity to handle six stations. The country already has four FM radio stations, namely Radio Zimbabwe, National FM, Power FM, and…
This emerged as Finance Minister Tendai Biti was said to be under pressure to "rob the bank" to review upwards salaries for disgruntled public workers.On Monday this week, the militant Progressive Teachers Union Zimbabwe (PTUZ) called for a crippling teachers strike on June 21 if government fails to…
Zimbabwe is endowed with both kimberlitic diamond deposits exploited by Murowa Diamonds and River Ranch and alluvial deposits, widely seen as Zimbabwe's emerging Eldorado, from which non-state players are proscribed.The Kimberly Process Certification Scheme (KPCS) - the global diamonds watchdog - is openly reluctant to certify as conflict-free…
Under the first tranche, which raised US$300 million in November last year, the development finance institution (DFI) structured lines of credit for over 10 Zimbabwe banks as well as hotels and other industries.PTA Bank president, Michael Gondwe, said the Nairobi-based multilateral lender, which set up a local office…
Documents seen by this newspaper indicate that the Ministry of Finance, presided over by the MDC-T secretary-general, Tendai Biti, was the lead broker for financial terms for the deal, and is principally cited as the borrower under a facility that has angered Zimbabweans currently battling high taxation and…
The committee also ruled that bylaws enacted by the Harare City Council and Marondera Municipa-lity were also unconstitutional.The adverse report was submitted to Parliament last week.The empowerment regulations state that businesses that fail to submit indigenisation plans or provisional plans within 30 days of receiving a notice face…
ZANU-PF officials told The Financial Gazette that the party had no reason to shift its course, setting the stage for a grueling encounter with South African President Jacob Zuma, the SADC-appointed mediator in the Harare crisis.Diplomatic sources claimed there was tension within the regional grouping ahead of the…
Information obtained by The Financial Gazette suggests that there have been surreptitious manoeuvres by the MTCID officials to undermine ZimHighways Consor-tium (Pvt) Limited, a company awarded the tender to dualise and toll the Beitbridge-Harare road, arguably southern Africa's busiest transit road.The government has balked from signing the concession…
The new turn of events follows the transfer of the management of Mutumwa's empire from the Ministry of Justice and Legal Affairs to the Mines Ministry.The new arrangement came after Mawere fought running battles with Justice Minister, Patrick Chinamasa over the Zvishavane-based asbestos mine.The placement of SMM under…
The rising debt level, which has reached US$108 million from US$64 million last year, could precipitate a financial hemorrhage on the group, whose planes are currently grounded after a Civil Aviation Authority of Zimbabwe moratorium issued after concerns the fleet was now too aged to fly.Air Zimbabwe's three…
