November 22, 2024
Over US$1 billion in strategic sector facilities is earmarked to pass through the country's largest lender by assets, including the US$300 million expected from the Africa Export-Import Bank (Afreximbank) for disbursement to the manufacturing and mining sectors.Other planned facilities include a US$600 million credit scheme for the 2010/11…
President Robert Mugabe, Prime Minister Morgan Tsvangirai and Deputy Prime Minister Arthur Mutambara were also presented with the report on the negotiations to bring finality to the outstanding issues.Zuma is expected to make recommendations to the Southern African Development Community Troika after going through the report.Sources from Pretoria…
Concluding her three-day mission to Zim-babwe, assistant secretary general for the UN Humanitarian Affairs, Catherine Bragg, said although the country's humanitarian situation had significantly im-proved, continued assistance was still re-quired to maintain the positive gains achieved by the unity government such as the revitalisation of the health sector."Any…
Biti unveiled a US$2,25 billion budget that he said was "pro poor, broad-based" and had an "inclusive development framework."But following an analysis of the budget on Tuesday portfolio committees, with a majority of members from the Movement for Democratic Change presented reports in the House of Assembly calling…
The deal will not only see the group repositioning itself among leading financial institutions in Zimbabwe but also open the doors to lines of credit through ADC's extensive network.The transaction came as PFG and ADC teamed up to convince authorities in Harare to waive stringent banking and empowerment…
Finance Minister, Tendai Biti, cut the corporate tax rate to 25 percent from 30 percent but kept the noose on individual/sole traders who will still be taxed at the old rate.This big enterprise bias may be deliberate to crush the country's very high level of economic informality currently…
Tensions within the party over the selection of members of the presidium worsened this week following the resignation of Manicaland provincial chairperson, Basil Nyabadza, who threw in the towel on Tuesday in frustration after his province failed to secure the ZANU-PF chairmanship.Nyabadza’s action could influence other provinces into…
Impeccable sources privy to the delicate negotiations told The Financial Gazette this week that as of Tuesday, the three political formations were drifting further from the point of settlement on most of the contentious issues cited as poisoning their marriage of convenience consummated in February.Zuma, who for the…
The budget, which collapsed revenue and expenditure estimates at US$2,25 billion, proposed broad-based tax reforms, and also raised the civil service wage bill with a view to re-draw civil service grades.Based on ambitious growth targets, against severe revenue constraints, Biti’s budget leaned 36 percent of its weight on…
Addressing the second session of the Seventh Parliament of Zimbabwe the premier made a veiled threat on corrupt government officials who reap where they did not sow and pledged to fully support efforts by the august House to introduce transparency and accountability in government.Mildred Chiri, the Comptroller and…
