ZIMBABWE’S fuel imports went up in the first half of the year, with diesel recording a 17 percent increase while petrol saw a 38,6 percent surge. Zimbabwe Revenue Authority (ZIMRA) chairperson Willia Bonyongwe last week said increased economic activities had resulted in the rise. “Diesel imports rose from 394,56 million litres in the first half […]
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THE current subdued performance of most Zimbabwean companies is a reflection of the deepening foreign currency crisis, rather than productivity, a listed firm’s executive has argued. Rob Webster, managing director of Zimbabwe Stock Exchange-quoted cables manufacturer — Cafca, said the situation had been exacerbated by the different perceptions on the value of the United States […]
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By Eric Chiriga and John Kachembere WITHOUT a doubt, Monday’s election is about the economy — and who is likely to deliver a better future for Zimbabwe, and the much-needed hope. It is also an indubitable fact that the winner will either be President Emmerson Mnangagwa or the MDC Alliance’s Nelson Chamisa. And amidst this […]
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AS ZIMBABWE heads for its crunch elections next week, industry and commerce is hoping that the polls will restore the country’s economic health after two decades of political mayhem which had impoverished the once prosperous nation. Business representative bodies and analysts who spoke to The Financial Gazette this week said the July 30 plebiscite presented […]
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By Ndakaziva Majaka and Tabetha Mutenga GOVERNMENT is courting white farmers who lost their land during the fast-track land reform programme, with indications that President Emmerson Mnangagwa has pledged to offer them 99-year leases. Mnangagwa said at the weekend during a meeting with the white community that his administration had extended the privilege of land […]
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Former Zimbabwe President Robert Mugabe on Monday cast his vote in Harare, a day after criticising his successor and turning on former allies who ousted him from power in a military coup. Zimbabweans are voting in an election which for the first time in nearly four decades, does not have Mugabe’s name on the ballot […]
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Zimbabwe’s President Emmerson Mnangagwa has his vote at Sherwood Park Primary School in Kwekwe, central Zimbabwe in an election pitting him against 40-year old lawyer, Nelson Chamisa. Mnangagwa (75), a long-time Mugabe ally who took over as president after the army ousted his former boss, has enjoyed a slim lead over Chamisa in opinion polls.
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Nelson Chamisa woke up early to join thousands that got the Zimbabwe election going in the capital Harare on Monday morning. The MDC Alliance leader was mobbed by supporters shortly after casting his vote in the Harare township of Kuwadzana. “We are certain of victory if the vote is not manipulated and it is a […]
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VOTER turnout is high in Zimbabwe’s first general election since long-serving ruler Robert Mugabe was ousted, officials say. Foreign observers have hailed the election as an opportunity for Zimbabwe to break with its repressive past. The presidential election is expected to be a tight contest between the incumbent Emmerson Mnangagwa and his main rival Nelson […]
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Zanu PF has secured a parliamentary majority with the results of 57 seats yet to be announced. With the Zimbabwe Electoral Commission (ZEC) having announced results for 153 out of 210 constituencies so far, Zanu PF has won 110 seats, while the MDC Alliance has 41 seats, the National Patriotic Front (NPF) candidate Masango Matambanadzo […]
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PRODUCTION of processed meats has declined by close to 25 percent as processors struggle to import mechanically deboned meat required in the production of processed meats, the Livestock and Meat Advisory Council (LMAC) has said. The import of mechanically deboned meat (MDM) has been disrupted by a number of issues, including the meat scandal in […]
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SOUTH African mining magnate, Mzi Khumalo, on Tuesday made an emphatic and strategic move to consolidate his interests in Zimbabwe’s gold mining sector, in the latest signal of an intensifying scramble for the country’s minerals. On the day that the Zimbabwe Electoral Commission began announcing results for polls held on Monday, Mzi’s Metallon Corporation, which […]
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ZIMBABWE is seeking financial support from China and India to rehabilitate and modernise its infrastructure. The investment-starved southern African nation requires at least $20 billion to refurbish dilapidated infrastructure and create new capacity to meet existing and future demand for its growing population — approximately 16 million, according to official figures. The infrastructure — crucial […]
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SINCE the wave of price increases that hit Zimbabwe late last year, ordinary Zimbabweans have been baffled by the mismatch between the official inflation rate and the level of price increases. To many — whose disposable incomes have significantly lost buying power in recent months, the official inflation rate is far from reflecting the gaping […]
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STATE-OWNED mobile operator NetOne has been rocked by serious infighting, which has seen company chief executive Lazarus Muchenje being forced to reinstate nine senior staffers who had been sacked from the company last week. Chairman Peter Chingoka confirmed to the Financial Gazette on Monday that the dismissals had been reversed. “As a board, we resolved […]
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YESTERDAY’s protests in Harare, following Monday’s hotly-contested national elections, dampened business’ hopes that Zimbabwe would finally overcome its economic challenges of the past 20 years. The ugly scenes in the capital came after both economists and business representatives had expressed confidence that the relatively peaceful atmosphere that was experienced before and during voting day would […]
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THE European Union Election Observer Mission (EUEOM) yesterday condemned Zimbabwe’s just-ended polls, saying the playing field was uneven, despite endorsement by African missions. Elmar Brok, EUEOM’s chief observer, said while there was an improvement in the conduct of the poll, the Zimbabwe Electoral Commission (ZEC) had failed to make use of the multi-party liaison committee […]
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PRESIDENT Emmerson Mnangagwa has won Zimbabwe’s presidential election, according to the Zimbabwe Electoral Commission (ZEC). With all 10 provinces declared, Mnangagwa won 50.8 percent of votes to 44.3 percent for opposition leader Nelson Chamisa. Police removed opposition officials from the electoral commission stage when they rejected the results. The chairman of Chamisa’s MDC Alliance said […]
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MDC Alliance leader Nelson Chamisa has vowed to challenge the election result “legally and constitutionally” after saying it was rigged. The electoral commission announced that President Emmerson Mnangagwa, a former enforcer of long-time leader Robert Mugabe, and leader of the Zanu-PF Party, had narrowly won Monday’s vote. Nelson Chamisa, leader of the Movement for Democratic […]
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THE new government to be formed after the watershed elections held a few days ago should promote growth by focusing on industrialisation, the Confederation of Zimbabwe Industries (CZI) has said. In an exclusive interview with The Financial Gazette, CZI president Sifelani Jabangwe said that export of primary goods cannot continue to be depended to create […]
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