FINANCE minister, Mthuli Ncube, says Zimbabwe should minimise the mortgaging of its resources to build better relations with its creditors. The southern African nation which has been shut out by major lenders who include the International Monetary Fund, World Bank and the Africa Development Bank Paris Club has of late relied on the Afreximbank for…
THE Zimbabwe Anti-Corruption Commission (Zacc) is pushing for changes in legislation that would allow it to keep 15 percent of crime proceeds that it recovers. This comes after Finance minister Mthuli Ncube recently conceded that the country’s crime-busting agencies — including Zacc — were seriously under-resourced. “Funding is a challenge and the commission has continued…
THE government is set to crackdown on businesses charging goods in United States dollars and remitting their taxes using the local currency, Finance minister Mthuli Ncube told Parliament recently. This comes as the Zimbabwe Revenue Authority (Zimra)’s tax revenue figures took an 18 percent dip in the first seven months of the year due to…
ZIMBABWEAN banks and industry are sceptical about the government’s plan to pump $18 billion in rescue loans into the struggling economy amid fears that the move could stoke inflationary pressures. Local firms have for long been pressed for liquidity and the situation has been heightened on account of disturbances to business caused by the Covid-19…
SHABANIE Mashava Mines Holdings (SMM) is in negotiations to sell its 43 percent stake in conveyor belts manufacturer, General Beltings Holdings (GB). The troubled asbestos producer, which was mothballed 15 years ago, and has been under administration for more than a decade, has been selling assets to clear its huge debt to pave way for…
THERE has been a significant increase in the number of black, Asian and minority ethnic staff in the music industry since 2016, a new report says. The proportion of minority ethnic employees has risen from 15.6% in 2016 to 22.3% this year, according to trade body UK Music. The report noted that representation is worse…
“Maybe I’ll have to leave the country.”— President Donald Trump pondered his future plans if he were to lose to Joe Biden during a campaign rally in Georgia. The upcoming US presidential election set for November 3, this year is indeed a major theme for global markets. American voters will have to decide whether Trump…
IN June 2020, an open letter was publishedcalling on the UK’s film and TV industry to “tackle structural and systemic racism” in broadcasting and film-making. Among the things the letter asked for was black and brown independent producers to be empowered and for the lack of diversity on productions to be constantly challenged. Tinge Krishnan…
MAX Verstappen and Lance Stroll escaped punishment following an investigation into a crash during practice at the Portuguese Grand Prix. The pair collided as Verstappen tried to overtake Stroll after they had raced down the pit straight. Stewards called both drivers to give evidence and ruled that neither was “wholly or predominantly at fault”. Mercedes’…
FOREIGN sell-offs on the Zimbabwe Stock Exchange (ZSE) have intensified over the past four months reaching a record $3,8 billion in September, official data shows. Due to Harare’s “chronic policy inconsistency,” investor flight has plagued the ZSE for almost half a decade now, but starting in June — when government introduced a currency auction system…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More