Fuel queues: The Rallies ED can’t address

By Wisdom Mumera A few months after ‘receiving’ the full mantle of electoral power President Emmerson Mnangagwa faces the kind of situation that few rulers envision when panting for power. He has the power but nothing else on him. No political traction. No economic foothold. No legitimacy. The economy which has been on its back …

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We have done well: Mangudya

By Daniel Chigundu Reserve Bank of Zimbabwe governor John Mangudya says he is pleased with the work they have been doing in trying to revive the economy despite what other people think. Zimbabwe is currently facing a cocktail of challenges fronted by currency shortages, fuel shortages basic commodity shortages and uncontrollable price hikes among many …

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Govt stake in Hwange is my donation: Van Hoogstraten

By Daniel Chigundu Diversified business tycoon Nicholas Van Hoogstraten says he is surprised at how government ended up owning 40 percent shares in Hwange Colliery yet he had donated the shares to the people of Zimbabwe. The government of Zimbabwe is reportedly the current biggest shareholder in the troubled mining company (Hwange) at 40 percent …

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Committee pleads for US$100m digitalisation funds

By Daniel Chigundu The Parliamentary Portfolio Committee on Information, Media and Broadcasting Services has appealed to both treasury and Parliament for the allocation of US$100 million to TransMedia for the completion of the digitalisation program. Digitalisation which has missed both the regional and international deadlines has so far gobbled about US$40 million and requires an …

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TransMedia cancels US$289K budget request

By Daniel Chigundu TransMedia will no longer be requesting for budgetary support from the 2019 national budget but will instead implement measures to collect what is owed by various broadcasters including ZBC. The broadcasting transmission company which had initially asked for a $289 000 budgetary support has the potential to raise enough resources from its …

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Hwange Colliery captured by a cartel

By Daniel Chigundu Hwange Colliery Company board has told Parliament that the mine is being run by a cartel which involves management, suppliers and some stakeholders who have defrauded it big time. Despite producing coal and its by-products Hwange has been failing to sustain its operations and has failed to pay its workers for more …

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Govt seeks to keep US, Bond Note value at par

By Daniel Chigundu Ministry of Finance says it will present the 2019 National Budget in US dollars because it is the currency unit of account and that it is looking at measures of keeping the Bond Notes at par with the dollar. The Bond Note was introduced a few years ago as an export incentive …

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2% tax is paying for subsidies: Guvamatanga

By Daniel Chigundu Permanent secretary in the Ministry of Finance and Economic Development George Guvamatanga says the 2 percent tax is necessary as it will fund subsidies that Zimbabweans enjoy. The government introduced a 2 percent tax earlier this month which is levied on all electronic transactions across all platforms. Under the tax, the government …

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