November 24, 2024
Although Zimbabwe’s income per head is one of Africa’s lowest around US$265, and the savings rate still lagging at under 10 percent of gross domestic product, transactions in the country are still dominated by cash. This has contributed directly to the low aggregate demand in the economy —…
The deal is the latest in a string of cross border investments by the Zimbabwe Stock Exchange-listed group.It came as ASL, Zimbabwe’s largest leisure company, added to its shopping list two more hotels in Nigeria and Ghana to increase by 500, rooms under management across Africa.ASL said the…
Makarau said the country’s legal system was still fragmented despite calls from the inclusive government for unification.She said: “We in the judiciary were encouraged when it was indicated that the unification of the judiciary was one of the 100 days targets of the government of national unity. The…
Former mines minister, Edward Chindori-Chininga who is now the chairman of the Parliamentary Portfolio Committee on Mines, told The Financial Gazette this week that officials from Mbada Diamonds would be summoned before the august House to explain themselves.“I cannot comment on that because I play an oversight role,”…
ZTA president, Kevin Cooke said the effects of this “chaos” and mounting threats on a sector that produces about 10 percent of the world’s flue cured tobacco exports would not only dampen farmers' spirits but severely undermine the recovery of Zimbabwe’s agro-based economy.Already, disturbances on farms have seen…
The Zimba-bwe Stock Exc-hange-listed company reported a post-tax loss of US$914,484 or nearly a quarter of cent per share, attributed to high operating expenses dominated by high provisions for bad debts, discounts on debtors and depreciation.Operating expenses came close to US$3,5 million against gross revenue of US$7,3 million…
The Mines Ministry, which is headed by Mpofu, has come under increasing scrutiny following revelations that it had chosen joint venture partners for the mining of the disputed Chiadzwa diamonds without going to tender.Last week, government was forced to cancel the auction of diamonds from the Marange fields…
Unions representing civil servants are demanding between US$500 and US$600 for the lowest paid worker at a time the inclusive government has indicated it is cash-strapped due to revenue constraints.Currently, civil servants are earning an average of US$155 per month, way below the poverty datum line (PDL) estimated…
The process had been dogged and delayed by accusations and counter accusations from the three main political parties on whether the method adopted in crafting a new Constitution was people-driven or politically motivated.But after protracted negotiations of give and take, lawmakers across the board met in Harare on…
Information obtained by this paper indicates that all is not well within the party, which annou-nced its divorce from ZANU-PF at a special congress held in Bulawayo in May last year.Dabengwa is, among other things, being accused of failing to hold a single rally or public meeting despite…
