PRESIDENT Robert Mugabe̓s ruling ZANU-PF has taken its eyes off the troubles afflicting the country’s economy, as party officials increasingly become occupied with angling for high office at the upcoming elective congress in December.  The promises made in the run-up to last year’s election such as job creation and empowerment…

THE debt situation among top listed firms worsened during the first half of this year, as the working capital strain shaking industry and commerce deteriorated, raising fears of a sharp economic contraction. It may be the sharpest contraction since a devastating liquidity crisis hit firms in late 2011, with a…

AT LEAST 23 out of 84 state enterprises and parastatals have failed to produce audited results between 2010 and 2013, according to recent data. At least 61 out 84 state enterprises were audited up to 2013 by the Auditor General’s office while 17 were last audited in 2012. The data…

THE People’s Own Savings Bank (POSB) has slid into financial quandary after extending its loss position during the first half of 2014, but management counselled calm, saying the financial institution would not collapse.  Israel Ndlovu, the company’s acting board chairman, said the banking institution’s woes had been precipitated by “extraordinary…

THE stampede for President Robert Mugabe’s favour and affections has gone into overdrive in ZANU-PF this past month with supporters from different factions and various standpoints clamouring for the pole position in bestowing “love” on the veteran nationalist. While there is nothing new to this, the clamouring for the incumbent’s…

THE Reserve Bank of Zimbabwe governor, John Mangudya, has called on Zimbabweans to create partnerships anchored on sincerity, best business practice and sound corporate governance to allow foreign capital inflows into the country. Mangudya, who was a guest of honour at the Financial Gazette’s Top Companies Survey 2014, sponsored by…

DEPUTY Minister of Justice, Legal and Parliamentary Affairs, Fortune Chasi’s fortunes are deteriorating further amidst revelations that he could be censured for being absent without official leave, when earlier in the year he went to a Thomas Mapfumo concert in South Africa, without Cabinet approval. The Financial Gazette understands that…

A STORM is brewing between top government directors and the rest of the civil service after salaries for the former were clandestinely increased by more than double that of their deputies. A copy of a salary schedule leaked to this paper indicates that directors of ministries and government departments are…

FORMER Reserve Bank of Zimbabwe governor, Gideon Gono looks set to land the Manicaland senatorial seat left vacant following the death of Kumbirai Kangai in August last year after President Robert Mugabe assented to the Electoral Amendment Bill. The Bill had been waiting for President Mugabe to append his signature…