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ZIMBABWE’S plans to import coins from the United States to alleviate the shortage of coins for small denomination change has collapsed, meaning the country will continue to depend on South African rand coins in a predominantly US dollar economy. A Ministry of Finance senior official, Eria Hamandishe, said the plan…
THE leadership renewal debate reverberating within the troubled Movement for Democratic Change (MDC-T) has taken another peculiar twist with suspended deputy treasurer-general Elton Mangoma declaring this week that he is ready to assume the party’s apex position in the event that the movement’s membership repose its faith in him, the…
AS the internal turmoil continues to rage on in the Movement for Democratic Change (MDC-T), national organising secretary, Nelson Chamisa, has been implicated in the violence unleashed on the party’s deputy treasurer-general Elton Mangoma mid February at the movement’s headquarters in Harare. A four-minute, six seconds security video taken during…
TYCOON Nicholas van Hoogstraten (pictured) has written to the embattled Hwange Colliery Company Limited demanding an extraordinary general meeting (EGM) where he will fight to axe the board and top management before roping in a judicial manager to revive the colliery miner which declared a shock US$44 million pre-tax loss…
MINES and Mining Development Minister, Walter Chidhakwa has defied a Cabinet resolution barring permanent secretaries from sitting on the boards of parastatals. Chidhakwa recently appointed new boards to run the Zimbabwe Mining Development Corporation, the Mining Affairs Board as well as the Mining Promotion Corporation. But in violation of the…
TRANSPORT and Infrastructural Development Minister, Obert Mpofu (pictured), is under renewed pressure to reveal his source of wealth after firebrand ZANU-PF Hurungwe West Member of Parliament, Temba Mliswa, repeated calls at a public forum for the Umguza legislator to come clean on how he came to be one of Zimbabwe’s…
AT least US$140 million haemorrhaged out of the ailing Zimbabwean economy unaccounted for from government ministries and departments, highlighting an acute degree of mismanagement of public funds. According to the recently-printed report from the Auditor-General which covers the financial year ending 2011, and is the latest published since 2012 and…
INDUSTRIALISTS and bankers this week welcomed the appointment of CBZ Holdings chief executive officer, John Mangudya, as the Reserve Bank of Zimbabwe (RBZ) governor although critics said the challenges facing the country’s fragile economy would present the new central bank chief with the biggest test of his career. They said…
GODFREY Simalabani skippered his rig beyond the 20 kilometre point where he had traditionally anchored to catch kapenta. At his new fishing position at Sibilobilo, west of Bumi Hills, Kariba’s western coast becomes a blur on the surface of the water, indicating how far offshore the fishermen had navigated in…
STATE enterprises, parastatals and local authorities were paying out an untaxed total amount of US$85 million since dollarisation to their top executives numbering 181, a move which was largely designed for tax evasion purposes. Computations by tax experts show that heads of Zimbabwe’s 90 mostly insolvent parastatals and 91 bankrupt…
