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Special Report

Business Writer Premier healthcare institution, The Avenues Clinic is investigating suspected procurement irregularities involving senior executives amid fears the Harare-based hospital could have suffered heavy financial prejudice running to millions of dollars. The irregularities involve possible improper conduct on procurement by former and current senior executives and managers, sources familiar with...
Happiness Zengeni and Chris Chenga At the start of the year, Econet Wireless Zimbabwe made headlines when it announced plans to pursue a rights issue. Diverse narratives came with this announcement. All were interpreted with some controversy. In Econet’s case, the company communicated the need to settle foreign debts and downplayed...
Martin Kadzere The Reserve Bank of Zimbabwe has rejected a request from platinum and chrome producers to have their foreign currency retention threshold increased from 20 percent, but assured them of timely disbursements of hard currency upon request to facilitate external payments. Last month, the RBZ directed the miners to surrender...
Golden Sibanda Two Cabinet ministers have been fingered in a suspected racket involved in the smuggling of fuel through the use of false declarations, facilitated by a clique of Zimbabwe Revenue Authority (Zimra) officials and the matter has since been referred to the State’s  economic crimes agency for further investigation. The...
The Zimbabwe Stock Exchange gained 15.12 percent in the week to Thursday spurred on by fears over the erosion of value of bank balances amid the worsening cash crisis. In just a week, the stock market has added $1 billion on its market capitalisation to close at new highs...
Conrad Mwanawashe Captains of industry and commerce want to see urgency in the implementation of State enterprises reforms, improving the doing-business environment, labour laws, and action in dealing with corruption within the private and public sectors. This came out at the interface between industry and commerce and President Robert Mugabe, Thursday,...
Business Reporters Africa’s richest man Aliko Dangote is still keen on investing hundreds of millions of dollars in Zimbabwe’s cement industry, but securing limestone deposits to support the plant remains a sticking point, Government sources revealed yesterday. He is also keen on investing in a 600 megawatt thermal power station that...
Martin Kadzere The Infrastructure Development Bank is planning to start listing its bonds on the Financial Securities Exchange, an alternative trading platform, during the first quarter of next year. The IDBZ plans to start listing the energy bonds issued in 2014, followed by the housing bonds recently issued through a private...
Livingstone Marufu Zb Reinsurance, a wholly-owned subsidiary of ZB Financial Holdings, is still pursuing its Mozambican Reinsurance unit project despite foreign currency shortages which continue to stall the project. The development comes following reports that ZB is mulling to close down shop in Mozambique after being frustrated by the failure to...
‘‘Nothing is impossible.” These three words are on a plaque that Aliko Dangote keeps on his office desk in Lagos, Nigeria, constantly reminding Africa’s richest man how to approach the world. Dangote, who was worth $12,3 billion as of mid-August, according to the Bloomberg Billionaires Index, is modest in...