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MUTARE — Government is likely to miss its E20 mandatory blending target set for next month owing to low production of sugarcane needed to be fed into the Chisumbanje ethanol plant, the Financial Gazette has learnt. Last year, Energy and Power Development Minister Dzikamai Mavhaire announced that government would regularise…
ZIMBABWEAN nationals based in South Africa are unlikely to troop back home despite moves by Pretoria to institute tougher legislation against illegal immigrants.…
A STALEMATE has apparently occurred over the selection of a substantive Reserve Bank of Zimbabwe (RBZ) governor, with sources saying there is no clear favourite for the job. Although Finance Minister Patrick Chinamasa recently said there was nothing unusual about the delay, the Financial Gazette understands that consultations on the…
IN an unusual twist to the legal battle between Gideon Gono and his former advisor, Munyaradzi Kereke, the ex-Reserve Bank of Zimbabwe (RBZ) governor has sought reprieve for his accuser to argue his case with the Constitutional Court (ConCourt) after the legislator for Bikita West missed the deadline to file…
GOVERNMENT’S designated procurement agency, the State Procurement Board (SPB) and the Zimbabwe Power Company (ZPC) — a subsidiary of ZESA Holdings — have been drawn into a scandal involving the awarding of a US$183 million tender to losing bidders, the Financial Gazette can reveal. Sometime last year, ZESA’s flagship business…
CONSTRUCTION of the Zimbabwe Diamond Technology Centre (ZDTC) faces a major hurdle after companies involved in the construction of the hub downed tools, before proceeding to sue the centre owner, Lovemore Kurotwi, over non-payment of US$5 million in fees and interest, the Financial Gazette can reveal. Billed as a critical…
AT a time when the Infrastructure Development Bank of Zimbabwe (IDBZ) has been haggling with non-managerial staff over a housing support facility that started in 2008, the institution has generously issued out loans totalling US$1,2 million to top management. …
A PROPRIETOR with an indigenous company has threatened the Financial Gazette’s business reporter, Phillimon Mhlanga, over his investigations into a story on alleged corruption over the awarding of a pre-paid meter contract by power utility, ZESA Holdings. Bulukani Masola, owner of Solahart which supplies ZESA’s subsidiary, the Zimbabwe Electricity Transmission…
SOUTH African President Jacob Zuma who faces crucial elections in May could be attempting to curry favour with President Robert Mugabe after he cancelled several key obligations at home and abroad to create time to attend Bona Mugabe’s wedding last Saturday. Apparently Zuma cancelled at the eleventh hour a “working…
TWO of the country’s arms of State, Parliament and the Executive, are at odds over the course of action to take on parastatal bosses who have been exposed for looting public funds through obscene salaries, board fees as well as other jaw-dropping perks in what could be a reflection of…
