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Forex crisis forces further international card curbs
Finance and Economic Development Minister Patrick Chinamasa and the Reserve Bank of Zimbabwe governor, John MangudyaBy Ndakaziva Majaka Deputy Business EditorA WORSENING foreign currency crisis has...
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Cabinet doubles Mugabe varsity budget
President Robert MugabeCABINET has more than doubled the budget for the proposed $1 billion Robert Gabriel Mugabe University, from an estimated $400 million in the institution’s initial plan, it has...
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Grace casts shadow over SADC Summit
First lady Grace MugabeZIMBABWE’S first lady Grace Mugabe, who faces assault charges in South Africa, will cast a long shadow over the Southern African Development Community (SADC) Summit in Pretoria...
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Bonyongwe: I am never conscious of my gender
Zimra chairperson Willia BonyongweThe Financial Gazette will, from this week, be introducing the Business Leader column. Here, we will interview and profile the country’s business and thought leaders....
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Zimbabwe and South Africa ground flights in permit dispute
Zimbabwe and South Africa ground flightsALL eight South African Airways flights between Harare and Johannesburg were canceled on Saturday when the Zimbabwe government demanded a foreign operators...
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RBZ forex directive to hit miners hard
Previously, the miners were allowed to retain 50 percent of their foreign earningsTHE central bank’s latest bid to deal with foreign currency shortages will hit hard Zimbabwe’s verdant mining sector,...
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Barclays workers split over share trust
The Zimbabwe unit to Malawi-listed lender, FMB Capital, are seeking recalibration of terms for the empowerment shares.A proposal by Barclays Plc to cede 15 percent of its shares in Barclays Bank of...
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ZimSwitch in huge transactions surge
Reserve Bank of ZimbabweNATIONAL electronic funds switch, ZimSwitch, recorded a 1 600 percent surge in digital transaction volumes during the first half of the year, from an average of 900 000 per...
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$700m deficit expected for H1 2017
Minister of Finance and Economic Development, Patrick ChinamasaGOVERNMENT is expected to have accumulated a budget deficit of around $700 million during the first half of this year, far above the full...
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Government approves Barclays take-over
FMB will acquire 43 percent of the Zimbabwe business, with an option to purchase an additional 10 percent which Barclays Plc will hold for three years.BARCLAYS Plc is proceeding with the sale of...
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Government versus Econet: Round two
Telecoms, media and technology group’s founder, Strive Masiyiwa… as BAZ pulls plug on Kwese TVTHE Broadcasting Authority of Zimbabwe (BAZ) has declared the Econet Group’s pay television service, Kwese...
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ZIMRA wants stiffer penalties for tax evaders
Zimra chairperson Willia BonyongweZIMBABWE’S tax agency says it is lobbying for new legislation which will see tax evaders being handed stiffer penalties, as the country which solely relies on tax to...
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NetOne contests court decision
NetOne approached the Supreme Court for relief after saying it was not happy with the Fiscal Appeals Court order.THE Supreme Court has allowed an appeal by NetOne against a Fiscal Appeals Court...
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Pension fund arrears reach $512 million
The pensions industry reported average expense ratios of 19,35 percent and 14,75 percent based on total contributions and total income, respectively, excluding benefit payoutsPENSION fund arrears...
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Afreximbank facility to avert fuel crisis
Reserve Bank of Zimbabwe Governor, John MangudyaA $600 million nostro stabilisation facility from the African Export and Import Bank (Afreximbank) will largely support fuel and electricity imports as...
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Chinamasa disowns Meikles debt
Minister of Finance and Economic Development, Patrick ChinamasaGOVERNMENT has disowned Meikles Limited’s $90 million claim over a two-decade old Reserve Bank of Zimbabwe (RBZ) debt and has made a...
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ZINARA directors walk free
Transport and Infrastructure Development Minister, Joram Gumbo.SENIOR Zimbabwe National Roads Administration (Zinara) executives arrested in June for alleged fraud and criminal abuse of office could...
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ZPC seeks to set up three 100MW solar power plants
The power plants, each with 100MW capacity, will be located in Gwanda, Matobo and Munyati.THE Zimbabwe Power Company (ZPC) has applied to set up three solar power plants in the country, in a move aimed...
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Depositors have no right to demand forex: Guvamatanga
Barclays Bank of Zimbabwe (Barclays) chief executive officer, George GuvamatangaNON-EXPORTING depositors have no right to demand foreign currency from local banks because they are not generating any,...
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Import ban fuels forex shortages: Mangudya
Reserve Bank of Zimbabwe governor, John MangudyaA ban in the importation of at least 100 basic consumer goods imposed by government last year fuelled foreign currency shortages after recovery of local...
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