Mnangagwa lies about US$3billion FDI

By Daniel Chigundu MDC Alliance says President Emmerson Mnangagwa is lying to the people that the country has received about US$3billion in foreign direct investment (FDI) adding that such an investment would have been visible. Zimbabwe is currently leaving no stone unturned in its quest to attract the much needed but elusive FDIs to help drive the economy from its current gridlock. President Mnangagwa even …

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Overwhelming response as looters return funds

By Pretty Chavango Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya says the bank has received an overwhelming response from looters desiring to return externalised foreign currency and assets in line with President Mnangagwa’s three months moratorium. Delivering his 2018 Monetary Policy Statement, Dr Mangudya said bank deposits are already increasing on account of funds being channelled into the formal system, as corporates and …

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Overwhelming response as looters return funds

By Pretty Chavango Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya says the bank has received an overwhelming response from looters desiring to return externalised foreign currency and assets in line with President Mnangagwa’s three months moratorium. Delivering his 2018 Monetary Policy Statement, Dr Mangudya said bank deposits are already increasing on account of funds being channelled into the formal system, as corporates and …

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Special Economic Zones, a pie in the sky

By Pretty Chavango Special Economic Zones  (SEZ) board chairperson Dr Gideon Gono says the much-publicised success of SEZ in the country is nothing short of a pie in the sky as there is nothing on the ground yet. The SEZ board was appointed last year with a view to helping attract the much needed but elusive foreign direct investment to the country, however, eight months down …

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Govt wants more SMEs to pay tax

By Wisdom Mumera Government says it is using its Rapid Results Initiative program to ensure that small to medium enterprise (SMEs) are regularized and paying tax. According to the FinScope MSME Zimbabwe Survey 2012, there are about 3.5 million SMEs operating in various sectors of the economy and of that number only 15 percent are regularized. The FinScope Survey adds that the 85 percent of …

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Chinamasa rejects “eat what you kill” concept

By Daniel Chigundu Finance and Economic Development Minister Patrick Chinamasa says he is against the concept of “eat what you kill” because the country is not killing enough for itself. The concept of eat what you kill was popularised by former Finance Minister Tendai Biti during the time of the inclusive government. According to Biti, the concept was about living within the country’s means as …

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Increase health funding or we sabortage budget: MPs

By Pretty Chavango Legislators have told Finance and Economic Development Minister Patrick Chinamasa to to at least double the budget allocation for health or risk having his proposed 2018 national budget rejected. The health sector was allocated about US$408 million from the the budget in 2018 against a proposal of at least US$1.3 billion. Zimbabwe’s health sector is facing various challenges that range from operation, …

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Hon. Cross proposes tax on electronic transfers

By Daniel Chigundu Bulawayo South legislator Eddie Cross has urged Finance and Economic Development Minister Patrick Chinamasa to consider putting a 5 percent tax on all electronic transfers. Owing to the obtaining cash crisis in the economy, most people have resorted to using electronic transfers to make payments for goods and services. This has seen electronics transfer statistics rising astronomically to about US$180 billion in …

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2018 national budget is tribalistic: Hon Sibanda

By Pretty Chavango Binga North legislator Prince Dubeko Sibanda says some Parliamentarians who have never said anything in Parliament are victims of language barrier as they do not speak such languages as Shona, Ndebele or English which are mostly used during debates. Speaking during the 2018 Finance Bill debate in the National Assembly, Honourable Sibanda said the issue can only be solved by awarding Parliament …

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PDP warns Mnangagwa over price controls

By Daniel Chigundu PEOPLES Democratic Party (PDP) has warned government against controlling prices of goods adding that it will take the country back to a 2007 situation where shops were empty. Alarmed by the recent wave of price increases of basic goods in the country, Zanu PF politburo has since set up an Ad Hoc committee led by Vice President Constantino Chiwenga to deal with …

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