Wednesday, November 22, 2017
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...
An increase in contribution of non-voice revenue to 63 percent of total and a reduction in finance costs by $10,7 million led Econet Wireless Zimbabwe to an exceptional performance for the half year to August 31, 2017. The group’s revenue grew 17 percent to $352,67 million while after-tax profit...
Business Writers The net is closing in on a sophisticated gold smuggling syndicate allegedly involving processors, buyers and corrupt officials from Fidelity Printers and Refiners — a gold buying arm of the Reserve Bank of Zimbabwe. This comes as Fidelity has said that gold smugglers could have creamed the country of...
Labour Ministry officer finds dismissal justified as dispute resolved The Zimbabwe Stock Exchange has fired its controversial chief executive Alban Chirume, ending a protracted dispute finally resolved by the Ministry of Labour and Social Welfare, which upheld his dismissal. The ZSE in February sent Chirume on forced leave and subsequently suspended...
Africa Moyo Dealmaker, Sakunda Holdings, has expressed interest in exploiting coal-bed methane gas in Lupane, with reports indicating that negotiations with Government are at an advanced stage. The Lupane Gas Project, which was granted National Project Status in 2007, has been linked to a number of local and foreign companies for...
Business Writers The National Social Security Authority has obtained a stay of execution in the case where a former employee had obtained a default judgment, which entitled him to attach property worth over $600 000. This also comes amid indications that the newly appointed Minister of Public Service, Labour and...
Audit report observes duplication of tasks Subsidiaries to be consolidated Martin Kadzere Several executives and senior managers at Zesa Holdings are set to become jobless if the proposals made by an independent consultant on the cost structure of the power utility are adopted and implemented, officials privy to the development said. The...
Central Bank pushes for lawyers’ involvement in money laundering fight ...but lawyers say RBZ overstepping mandate Business Writers Zimbabwe law firms are now subject to financial Know Your Customer (KYC) monitoring and reporting by the Reserve Bank, as the apex bank moves to throttle money laundering and illicit financial flows that...
Martin Kadzere Fuel prices may go down after Cabinet approved recommendations by a price stabilisation committee to consider reducing duties and levies on importation of the commodity to reduce the cost of production in Zimbabwe and cushion consumers from a high fuel cost induced price spiral on goods and...
Africa Moyo About six top Zimbabwe Revenue Authority (Zimra) managers are currently under the microscope as the taxman intensifies lifestyle audits to weed out corrupt elements in its systems. The identities of the officials under investigation could not be established by the time of going to print. Zimra board chairperson Mrs...