November 25, 2024
The Indigenisation and Economic Empowerment Regu-lations, gazetted on March 1, gave foreign-owned companies with assets worth over US$500 000, a 45-day ultimatum to propose how they would cede 51 percent shareholding to indigenous Zimbabweans over the next five years.The Youth Development, Indi-genisation and Empowerment Minister told The Financial…
An offshoot of Prime Minister Morgan Tsvangirai’s mainstream MDC-T, the MDC-M is deeply divided over Mutambara’s praise-singing of a competitor amid reports that some of the party’s executive members are mulling recalling the robotics professor.Insiders said MDC-M members have begun questioning the logic of being in opposition politics…
The Financial Gazette can exclusively reveal that Prime Minister Morgan Tsvangirai, whose effectiveness is yet to be felt in the wobbly inclusive government, met Presid-ent Mugabe this week in a crucial meeting where the premier implo-red on the head of State to ensure that justice is done.National police…
In a frank assessment of the diamond mining sector in Zimbabwe vis-a-vis the operations of Mbada Diamonds and Canadile Miners — the joint venture companies cherry-picked by the cash-strapped government to exploit the diamond fields — the KP monitor raised serious concern over dilatory supervision of the mining…
The failed latest round of talks has plunged Zimbabwe further into political uncertainty with the potential of overshadowing the hosting of the World Cup in South Africa.Zuma yesterday received the final report on negotiations to end the political impasse threatening to torpedo the coalition government amid revelations that…
1. Small Business Sector Facility (SBSF) (1994)2. Enterprise Development Programme (World Bank) (1997)3. Statutory Reserves Facility (2000)4. Zimbabwe Malaysia Trade and Payments Arrangement (2000)5. Economic Recovery Trust (2002)6. Productive Sector Facility (PSF) (2004)7. Distressed Companies Fund (2005)8. National Housing Facility (2005)9. Medical Professions Fund (2005)10. Import Substitution and…
An EU diplomat accredited to Harare told The Financial Gazette that officials in Brussels had agreed to meet the Zimbabwe delegations to be headed by Prime Minister Morgan Tsvangirai for a meeting on April 21. The Zimbabwean delegation, to include Patrick Chinamasa, the ZANU-PF chief negotiator, would leave…
The State Procurement Board is currently evaluating three firms that bided for the tender, which closed at the end of January at a time when Parliament is conducting a parallel investigation into illegal activities at the fields.The probe started when the diamond rush began four years ago when…
Contrary to popular belief created by the authorities, the RTG says very limited opportunities would be derived from the tournament.An ambitious blueprint authored by the government in 2008 captured the huge expectations the country had for the tournament.In the blueprint, Zimbabwe is targeting a 30 percent share of…
The subscription level represents a substantial dilution of starafricacorporation’s minority shareholders. That dilution will be worsened by the fact that a parallel private placement of US$10 million worth of convertible debentures (CDs), underwritten by Ban-cABC, will result in the banker taking up approximately 12 percent of the enlarged…
