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Govt reinstates auditor general
Mildred ChiriGOVERNMENT has clandestinely brought back auditor general, Mildred Chiri, who was unceremoniously dismissed from her job in July, triggering a furore from the legislators. Chiri told The...
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Mittal family firm snaps up Zim Alloys
Lakshmi Mittal, is chairman and chief executive officer of ArcelorMittalONE of India’s leading ferrochrome manufacturers, Balasore Alloys, controlled by the Mittal family, is on the cusp of taking over...
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Mugabe meets business… as crisis intensifies
President Robert MugabePRESIDENT Robert Mugabe will today meet business leaders to discuss the country’s economic emergency, just as retailers warned his government this week of imminent food shortages...
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Zimplats agrees to cede claims to govt
Zimplats, chief executive office, Alex MhembereBy Kuda ChidemeZIMPLATS says it has agreed to give up 28,000 hectares of land, more than half of its idle mining claims to government, ending a...
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Econet shareholders get $10m quarterly dividend
Econet Wireless founder, Strive MasiyiwaECONET Wireless Zimbabwe, the country’s largest telecommunications firm, has announced plans to pay a $10 million quarterly dividend, its first ever, as...
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ZESA escalates power imports
ZESA Holdings headquartersAN escalation of imports by ZESA Holdings resulted in a 444 percent surge in electricity purchases to $221 million last year, as the country’s power utility sought to close...
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Indigenisation amendment hopes dashed
Youth, Indigenisation and Economic Empowerment Minister, Patrick ZhuwaoHOPES that the Indigenisation and Economic Empowerment Act would be amended before next year’s elections were this week dashed...
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Equities touch $10 billion
Market capitalisation, which closed last week at $8,12 billion, soared to $9,8 billion on WednesdayBy Dumisani Ndlela and Omega UkamaTHE equities rally on the Zimbabwe Stock Exchange (ZSE) showed no...
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Emergency passports suspended over forex
Registrar General, Tobaiwa MudedeTHE Registrar General’s (RG) department has suspended issuing emergency passports, as ongoing foreign currency shortages continue to affect key public and commercial...
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Zim exports to Iran collapse to $1 000 envoy blames banking troubles
Chairman of the Iran-Zimbabwe Parliamentary Friendship Group, Mostafa KavakebianA visiting Parliamentary delegation from Iran on Wednesday expressed concern over the extremely low trade volumes between...
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ZIMRA intensifies tax audits
Zimra chairperson Willia BonyongweTHE country’s tax collection agency, the Zimbabwe Revenue Authority (ZIMRA), has intensified tax audits as part of efforts to boost revenue collections. Government,...
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Zimbabwe loses over $500m worth of gold
Reserve Bank of Zimbabwe governor, John MangudyaZIMBABWE is losing over $500 million worth of gold annually to smuggling due to lack of support to small scale producers, the country’s sole gold buyer...
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Court annuls NSSA bank takeover
Patterson TimbaTHE High Court yesterday nullified transactions made by three former Renaissance Financial Holdings Limited (RFHL) directors after they were fired in 2012, effectively reversing the...
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Eskom threatens to cut power next week
Energy and Power Development, Minister Samuel UndengeSOUTH Africa’s power utility Eskom has threatened to cut electricity supplies to Zimbabwe unless the country, battling a foreign currency crunch,...
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Ministers derail NRZ revival
Transport and Infrastructure Development Minister, Joram Gumbo.THE $400 million deal to recapitalise the National Railways of Zimbabwe has been thrown into jeopardy, after rival suitors for the...
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FMHL, Nicoz deal under threat
FMHL chief executive officer, Douglas HotoTHE acquisition of NicozDiamond by First Mutual Holdings Limited (FMHL) could collapse after a major shareholder in the shortterm insurer reportedly decided...
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Cooking oil firms raise alarm over dwindling forex
Oil Expressers Association of Zimbabwe president, Busisa MoyoTHE country’s edible oil producers have said they are only getting 30 percent of their foreign currency requirements from official...
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Zimswitch buckles under pressure
Reserve Bank of Zimbabwe governor John MangudyaZIMBABWE’S national electronic funds switch, Zimswitch, this week froze after panic buying over the weekend overwhelmed the system, triggering chaos as...
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Fuel supplies to stabilise after RBZ intervention
The Reserve Bank of ZimbabweZIMBABWE’S central bank this week intervened to rescue the country from a critical fuel supply crisis by injecting an undisclosed amount of cash for payment to international...
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Government plots currency crackdown
Finance and Economic Development Minister Patrick Chinamasa and the Reserve Bank of Zimbabwe governor, John MangudyaPRESIDENT Robert Mugabe’s government yesterday announced plans to crack down on...
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