The two-year delay in constructing the 100MW Gwanda solar plant has prejudiced the Zimbabwe Electricity Supply Authority (Zesa) of more than US$50 million in unrealised revenue, a Cabinet Minister has said. Speaking in an interview after visiting the site on Friday, Energy and Power Development Minister Advocate Fortune Chasi...
Zimbabwe Association of Pension Funds (ZAPF) is saying the introduction of Statutory Instrument (SI) 142 has reduced confidence in policyholders and shareholders in the pensions industry that has been on recovery path during the multi-currency regime. The multi-currency regime was introduced in 2009 after a decade-long hyperinflation which eroded prescribed...
A RUDIMENTARY bread oven that was officially opened by two ministers in Makonde amid pomp and fanfare has been closed barely 24 hours after it became operational When NewsDay visited the place at Portlet in Makonde district yesterday, the oven, in an open maize field, was deserted as villagers said...
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday reiterated that companies and individuals can still withdraw their money held in foreign currency accounts, adding that NGOs can still pay their employees in forex. Further, Dr Mangudya clarified that possession of forex remains in...
DELTA Corporation yesterday said it would start selling all its products in foreign currency with effect from tomorrow, a decision described by the Government as unacceptable and illegal. Analysts also warned that the decision by Delta could backfire as most Zimbabweans were paid in Bond notes or RTGS. In an...
Government has paid US$10 million to South African power utility, Eskom, and paid off $20 million to Zesa Holdings to clear its debt. Zesa Holdings is also expected to get an advance of $20 million from Government, in a move expected to improve power generation. This was said by Information, Publicity...
GOVERNMENT has instructed its insurer to compensate holders of nostro accounts in closed banks in either US dollars or the equivalent in local currency, it was revealed. Currently, the Deposit Protection Corporation (DPC) is overseeing the liquidation of six banks, namely, Genesis Bank, Royal Bank, Trust Bank, Interfin Bank, Allied...
Daniela Allen, Genius ‘Ginimbi’ Kadungure’s ex-girlfriend set social media ablaze a few days ago with nude pictures of business mogul Zodwa Mkandla It was a form of revenge after Zodwa allegedly recently wrecked her affair with a married Harare businessman (name withheld). She allegedly told the businessman’s wife about the affair and...