Category Archives: Business

Parliament calls for ZiscoSteel revival

Government is on a new drive to revive ZiscoSteel after previous efforts fell through Parliament has called on Treasury and the Ministry of Industry and Commerce to expedite the revival of the Zimbabwe Iron and Steel Company (ZiscoSteel). Speaker of Parliament Advocate Jacob Mudenda recently said the nation is expecting a “time-bound” resuscitation of the steel-maker and blasted Finance and

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Zimra probes tax refund payouts

Mrs Willia Bonyongwe Oliver Kazunga, Senior Business ReporterTHE Zimbabwe Revenue Authority (Zimra) says it is investigating an upsurge in tax refunds paid out in the second half of 2016 that saw net revenue collections declining by seven percent to $3,248 billion compared to the previous year. In a statement showing revenue performance for the year ended December 31, 2016, Zimra

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4 Sadc countries plan power project: $223m venture to produce 600 megawatts

Leonard Ncube, Victoria Falls ReporterFOUR Sadc countries — Zimbabwe, Zambia, Botswana and Namibia are planning a $223 million power project expected to produce 600 megawatts to feed into the region. The project is code-named ZIZABONA, an abbreviation derived from the first two letters of the countries involved in the project. Scores of villagers in Chiefs Shana, Whange and Mvutu areas

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Boost for Zim investment climate

Three missions from a World Bank-administered trust fund are in the country to help Zimbabwe improve its business environment climate, support reform of State-owned enterprises and efforts to strengthen the poverty and equity focus of public spending. BY NDAMU SANDU This is a major boost for Zimbabwe, which has been trying to create an enabling environment to attract foreign capital.

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POS transactions up 23pc

Dr John Mangudya Business Editor— The value of transactions processed through point of terminals grew 23 percent in December to $550 million from $446 million in November as Zimbabweans continue to increase their usage of plastic money. Data availed by the Reserve Bank of Zimbabwe shows that the volumes also increased 47 percent to 14,3 million from 9,7 million in

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ZSE Listings Committee to meet over Econet

Business Editor— The Zimbabwe Stock Exchange Listings Committee has notified the bourse’s chairperson Caroline Sandura of the controversy surrounding Econet Wireless Zimbabwe’s proposed $130 million capital raising exercise after it emerged CEO Alban Chirume unprocedurally approved the circular of the transaction. Econet published its abridged circular on Tuesday but reports had suggested that Mr Chirume had overrode the Listings Committee

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