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SEVERAL projects initiated under the Constituency Development Fund (CDF) are still to be completed with no light at the end of the tunnel since the 2014 National Budget did not allocate any resources towards the programme. …
A DECISION to change the initial design for the Tokwe-Murkosi Dam could be behind the present structural challenges now threatening the multi-million dollar reservoir. …
THE board and management of the Rural Electrification Agency (REA) is embroiled in a US$4 million scandal whereby they extended to themselves and other connected private citizens loans amounting to close to US$4 million, the Financial Gazette can exclusively reveal. Of that amount, US$2,5 million was extended to connected citizens while…
THE Zimbabwe Broadcasting Corporation (ZBC) has reached tipping point after Treasury withdrew budgetary support at a time when the national broadcaster is in dire straits due to a number of factors that include mismanagement. This development comes as the Ministry of Information, Media and Broadcasting Services has instituted an audit at…
THE country’s milling industry is in crisis, with players reporting an uncertain outlook as maize and wheat output decrease to alarming levels, raising doubts over the ability of local millers to meet demand.…
THE Movement for Democratic Change (MDC-T) is now caught between a rock and a hard place as factional winds blow.On the one hand, the party is now heavily fractured as cracks are emerging following questions over the capabilities of its leader Morgan Tsvangirai.Yet at the same time, the former trade…
GOVERNMENT has embarked on an audit of the diamond mining sector to plug loopholes that had seen only a few people benefiting at the expense of the majority.The country’s diamond sector has been plagued by secrecy over the years amid claims of looting of proceeds with little, if anything, going…
GOVERNMENT has been warned of more company closures this year due to lack of budgetary support for industry amid accusations that there is no political will to solve the deepening industrial crisis, the Financial Gazette has learnt.While industries have collapsed under the weight of a crippling liquidity crunch that has…
FORMER Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono has responded to a Constitutional case in which he is accused by a former advisor Munyaradzi Kereke of corruption and misconduct, saying the application against him and the Zimbabwe Anti-Corruption Commission (ZACC) was “short on the law but long on heat,…
LAWMAKERS have made controversial tax proposals to enable cash-strapped councils to crawl out of the current financial quagmire, among them the re-introduction of the colonial hut tax.…
