By Idah Mhetu CONDOM distributors have called on government to scrap VAT and duty on contraception to make them more affordable to ordinary Zimbabweans. Speaking during the International Condom Day commemorations in Harare on Thursday, Magna Chawira, a pharmacist, said the imposition of duty on condoms also affected pricing on the imported product. Chawira further
By Agencies THE International Monetary Fund, IMF has revealed that Zimbabwe has already cleared all its outstanding debts. Director of Communication with the International Monetary Fund Gerry Rice revealed this in a question posed to him about the recent reports of Zimbabwe’s indebtedness to the Fund. Despite the clearance of the arrears Zimbabwe still owes
By Alois Vinga THE baking sector has sent over 1 000 workers on forced leave as bread stocks continue to dwindle due to raw material shortages. This was revealed by Bakery Industry Workers Union deputy secretary general, Munyaradzi Shanga in an interview with NewZim Business. The situation has been worsened by government’s continued imposition of
By Alois Vinga CHIREDZI West legislator, Farai Musikavanhu has accused government of failing to tap into the vast economic potential offered by the country’s sugar industry which he says has remained a viable sector at a time the country was experiencing economic difficulties. Musikavanhu, who is a seasoned agronomist, was speaking during a Value Chain
By AFP IN a tiny factory producing handmade boots and shoes in southwestern Zimbabwe, leather cutter Misheck Sibanda is on another hectic shift as he tries to keep up with soaring global demand. Orders are piling in and new workers are being recruited at the Courteney boot company — that seems to defy all the
By Associated Press GENEVA: Forty countries led by Japan and the European Union — but not the U.S. or China — have agreed to require new cars and light commercial vehicles to be equipped with automated braking systems starting as soon as next year, a U.N. agency said Tuesday. The regulation will require all vehicles
By Associated Press WASHINGTON: The national debt has passed a new milestone, topping $22 trillion for the first time. The Treasury Department’s daily statement showed Tuesday that total outstanding public debt stands at $22.01 trillion. It stood at $19.95 trillion when President Donald Trump took office on Jan. 20, 2017. The debt figure has been
By Idah Mhetu ETHIOPIAN Airlines is failing to repatriate funds amounting to US$18 million from Zimbabwe due to the shortage of foreign currency in the country. President Emmerson Mnangagwa was quoted in a local newspaper admitting that Ethiopian Airways is failing to access its funds from the country. The Zimbabwean leader was speaking from Addis
By APA Mozambique’s Transport and Communications Minister Carlos Mesquita has called for the Machipanda boarder post with neighbouring Zimbabwe to be developed into a one-stop border post to build competitive advantages over other regional routes. The official was quoted by state-controlled Radio Mozambique on Monday as saying that he has noticed an improvement in the
By Associated Press LONDON: The British economy has not had a worse year since the global financial crisis and Brexit uncertainty is clearly to blame. The government even admits it. Official figures released Monday showed that a lack of clarity over Brexit weighed on businesses throughout 2018 and kept a lid on their investments. For
The African Export-Import Bank(Afreximbank) stands ready to provide all necessary support to aid Zimbabwe in tackling its fuel shortage. This was said by the president and chairman of the bank’s board of Directors Dr. Benedict Okey Oramah on the sidelines of the 32nd African Union summit on Sunday. “We have to operate within the country limits they have. We are always available to support
By AFP SEVERAL non-governmental organisations in Mozambique on Saturday called on Credit Suisse to write off debt their government contracted with the Swiss bank as part of a massive “hidden debt” scandal. In a letter addressed to Credit Suisse CEO Tidjane Thiam seen by AFP, 21 civil society groups said the scandal over allegedly illegal
By AFP The world’s top energy companies booked enormous profits last year thanks to higher oil prices and keeping a tight lid on spending, even if that risked limiting their medium-term production capacity. The five “supermajors” — US firms Chevron and ExxonMobil, Britain’s BP, Anglo-Dutch Royal Dutch Shell and Total of France – earned nearly
By AFP Instagram late Thursday announced it is clamping down on images related to self-injury such as cutting. The move came after British Health Secretary Matt Hancock met with social media companies about doing more to safeguard the mental health of teenagers using their platforms. British teenager Molly Russell was found dead in her bedroom
By Alois Vinga FACED with an acute foreign currency crisis which has forced several companies to scale down on production, government says it has now resorted to facilitating the issuance of Letters of Credit (LOCs) in a bid to enable industry to import raw materials. Speaking to NewZimbabwe.com Business Thursday, Industry and Commerce Minister, Mangaliso
By Kwekwe Correspondent KWEKWE based Dendairy Limited says the harsh economic environment has plunged the milk processor into a viability crisis with current operations now only aimed to keep the company afloat with hopes the country’s sagging economy could bounce back soon. Company director Carly Archibald told NewZimbabwe.com the firm has even also fallen behind
By Alois Vinga LONDON Stock Exchange (LSE) has rated Zimbabwean entity, ZONFUL Energy among Africa’s top 360 inspiring companies in a development indicating vast potential in the firm. The LSE Inspire Africa 2019 report, which identifies a new cohort of fast growing and dynamic private businesses across the continent, confirmed the development which has seen
By Kingston Ndabatei THE Government on Tuesday effectively killed a shadowy airline established by former Transport Minister Jorum Gumbo with reported links to former First Lady Grace Mugabe. New Transport Minister Biggie Matiza told journalists at a post-cabinet press briefing that the four planes initially purchased for Zimbabwe Airways by government would now be taken
By Staff Reporter THE government has set up a special fund to assist businesses and communities affected by the violent protests which rocked the country last month. Information minister Monica Mutsvangwa confirmed the development during a post-cabinet media briefing held in Harare late Tuesday. “Following a presentation of an interim report by the ad-hoc committee
By Fin24.com THE government wants to emphasise that it is open for business, with several policy interventions to underline its intentions, according to Winston Chitando, the country’s Minister of Mines and Mining Development. Chitando was a guest speaker at a panel discussion on mining in Zimbabwe co-hosted by Africa Practice and Webber Wentzel at Mining
