Business News

Chinamasa Rubbishes Kasukuwere’s Directives

Published: April 23, 2014

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Finance and Economic Development Minister, Patrick Chinamasa yesterday dismissed as utter “nonsense” indigenisation policies promulgated by former Youth and Indigenisation Minister Savior Kasukuwere on taking over foreign owned banks. Kasukuwere in June 2012 passed a state directive compelling all foreign owned banks to transfer 51 per cent stakes to black Zimbabweans within 12 months. The government notice states that […]

Power Cuts Hit ZITF

Published: April 23, 2014

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SouthernEye|INTERMITTENT power cuts rocked the opening day of the 55th edition of the Zimbabwe International Trade Fair (ZITF) in Bulawayo yesterday leaving some exhibitors livid and questioning whether the country was serious about attracting foreign direct investment. An official at the South African pavilion said the power cuts were a drawback for potential investment and […]

Jonathan Moyo Admits Zim-Asset Is Futile, Unclear

Published: April 22, 2014

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ZANU PF’s Zimbabwe economic recovery program ZimAsset is far from clear, Professor Jonathan Moyo has hinted. Speaking in his latest address to the state media, Prof Moyo indicated that there has been no clarity in the program resulting in its failure. Prof Moyo told the Herald in part saying: At the formulation stage of Zim-Asset, […]

‘$7 billion Marange Diamonds Siphoned’

Published: April 21, 2014

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IN 1896, De Beers was given a monopoly over any discoveries of diamond deposits in Rhodesia. Over the following 100 years they did little to justify this right and all that the country had to show for this concession to the largest diamond mining company in the World, was a small, rather marginal diamond pipe […]

“Rautenbach Lied About Chisumbanje Investment”

Published: April 20, 2014

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In a major turn of events set to embarrass the ZANU PF controlled government, information on the disastrous Chisumbanje Ethanol Plant in Chipinge has pointed that the business mogul Mr Conrad “Billy” Rautenbach did not tell authorities the truth when he communicated that his project cost US$600 million. The investment was worth no more than […]

Angola Airline to up Harare, Luanda direct flights

Published: April 18, 2014

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DailyNews|HARARE – Angola’s national carrier, Linhas Aereas de Angola (Taag), plans to introduce frequent direct flights between Harare and Luanda on the back of increased business between the country and Zimbabwe. Titus Chapfuguma, the airline’s divisional manager, said the plans are at an advanced stage. At the moment, Taag flies the route once a week. […]

Zimbabwe International Trade Fair (ZITF) 2014, “New ideas to New Heights”

Published: April 18, 2014

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Peacemaker Zano | This year’s 55th edition of the Zimbabwe International Trade Fair (ZITF) comes at a time when Zimbabwe’s blue print economic policy, Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim Asset) is in now in full swing. This coincidence fits perfectly with the theme for this year’s fair, “New ideas to new heights,” as […]

Govt Seeks Financing from Arab Bank

Published: April 18, 2014

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The Zimbabwean government is seeking the help of a prominent Dubai based Arab financier,  Dr Andre Homberg, to facilitate the creation of liquid cash in the country. As a result of that pursuit, Andre Homberg’s Tabarak Investment Bank has submitted a capital raising plan proposing to use Zimbabwe’s assets to create financial instruments aimed at […]

Ian Smith’s Zim Independence Mystery | Did You Know?

Published: April 15, 2014

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Ian Smith’s Zim Independence Mystery | Did You Know? thumbnail

Did you know? – That the same day colonial Prime Minister Ian Smith was made premier of Rhodesia 1964,  falls in the very same week that Zimbabwe finally received its independence in 1980? And that very same week is the week our feet are in right now exactly half a century later? Ian Smith became […]

Masiyiwa in Africa’s Top 10 Donors’ List

Published: April 12, 2014

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NEW YORK – An estimated US$7 billion is given away every year by Africa’s philanthrocapitalists – at least the ones we know about. These are the men (sadly no women yet on this list) providing home-grown solutions to local needs. Francois van Niekerk, South Africa – The founder of Mertech Group gave 70 percent of […]

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