Let’s fix political issues also: Mangudya

By Daniel Chigundu Reserve Bank of Zimbabwe governor John Mangudya has called on politicians in the country to put the same amount of effort being put on the economy when dealing with political and social issues. Zimbabwe is currently at a political standstill owing to disputed 2018 general elections which saw President Emmerson Mnangagwa being …

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RBZ Falls Deeper Into A Crisis of Confidence

By Mufaro Three years ago Mnangagwa assured “business and the general populace that bond notes are not going to replace the multi-currency basket”. Fast forward to today, trading in any other currency outside the bond note and RTGS is now illegal in Zimbabwe through Statutory Instrument 142 of 2019. RBZ’s policy interventions this week have sent …

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Zimdollar : Renaming Our Poverty 

By Wisdom Mumera Initially, the Zimdollar went out without much fanfare. It died a natural death and was mourned by none. It slowly disappeared as the market self-dollarised and the government had to play catch-up by announcing the formal entrance of the multi-currency regime. After the entrance of bond notes, the market has been in …

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Mismanagement of funds at ZESA the major contributor of load shedding …Audit

By Staff Reporter An audit report by Price WaterHouse Coopers has revealed that the currently incessant power cuts and unscheduled load shedding are a result of mismanagement of funds by ZESA and its subsidiaries. The audit revealed that besides other many ills, top managers were also splashing money on top of the range vehicles which they …

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Mismanagement of funds at ZESA the major contributor of load shedding …Audit

By Staff Reporter An audit report by Price WaterHouse Coopers has revealed that the currently incessant power cuts and unscheduled load shedding are a result of mismanagement of funds by ZESA and its subsidiaries. The audit revealed that besides other many ills, top managers were also splashing money on top of the range vehicles which they …

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ZESA Owed Over $1 bn, Gvt Arms,Local Authorities Fingered

The Zimbabwe Electricity Transmission and Distribution Company, (ZETDC), a subsidiary of ZESA Holdings is battling to recover over $1 billion in unpaid power utility bills it has emerged. The unpaid bills which are estimated at $1,2 billion are a result of defaulters mainly state-owned enterprises and local authorities. Addressing members of the media after the 21st …

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MPs demand electricity update

By Daniel Chigundu  Parliament says Energy and Power Development Minister Fortune Chasi must come back to the House and indicate to the legislators whether the country still has electricity or not, in light of the crippling load shedding which is also affecting production. Most Zimbabweans are enduring about 15 hours of load shedding on a …

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Parly wants ministerial statement on price increases

By Daniel Chigundu Deputy Speaker of Parliament Tsitsi Gezi says the National Assembly is going to call on the Minister of Industry and Commerce Mangaliso Ndlovu to give a ministerial statement on the price increases being experienced in the economy. Since the government dumped the 1:1 parity between the US Dollar and the Bond Note, …

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Govt is the biggest economic saboteur: Mliswa

By Daniel Chigundu  Norton legislator Temba Mliswa says the government must desist from blaming the private sector for the challenges being experienced in the economy when it is creating those challenges. Various cabinet ministers have accused the private sector of working with the country’s enemies in a bid to try and incite people to revolt …

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