eBusiness Weekly
We’ll respect poll outcome — ZDF
The Zimbabwe Defence Forces (ZDF) says it will respect the outcome of the July 30 harmonised elections as its conduct is guided by the Constitution.
ZDF spokesperson Colonel Overson Mugwisi said ZDF members, like any other citizen, were free to vote for a political party of their choice.
He made the remarks while addressing journalists on the role of ZDF during elections.
“We abide by the Constitution,” he said.
“The conduct of the ZDF after the election is going to be guided by the Constitution of the land. What the Constitution prescribes that we do is what we are going to follow. We will not prevaricate on that.”
He added: “Furthermore, it should be noted that members of the ZDF, like any other citizens, are not barred from exercising their right to vote for any political party of their choice in national elections.
“The only restriction on the participation in politics is holding of political party offices while they are still serving. As for retired members, they are not excluded from active participation in national politics.
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Looters return $850m: President
Zimbabwean government has so far recovered $850 million out of the $1, 4 billion illegally externalised by corporates and individuals following a three-month moratorium given by President Mnangagwa upon his assumption of office in November last year.
The amnesty was part of broader measures implemented by President Mnangagwa’s administration to curb corruption.
At the expiry of the moratorium in March, US$591 million had been repatriated, but President Mnangagwa told delegates attending the 31st Ordinary Session of the African Union (AU) General Assembly on Sunday night that the amount returned home now stood at US$850 million.
The President made the disclosure while making a contribution during a plenary discussion on the theme of the summit which focused on combating corruption in Africa. — The Herald.
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Zim intensifies re-engagement efforts
Zimbabwe has dispatched two special envoys to the Netherlands and Germany as Harare intensifies its re-engagement agenda, Foreign Affairs and International Trade Minister Lieutenant General Sibusiso Moyo has said.
The emphasis on re-engagement has been met with goodwill as the global community has shown eagerness to mend relations with Zimbabwe which soured due to differences over the expropriation of prime agricultural land from the minority whites for re-distribution of land to the black majority.
The differences led to, among other things, a massive decline in foreign direct investment from those countries opposed to the land reform programme.
But in a show of confidence in the new administration, most Western countries including Britain, have sent envoys to Zimbabwe to rekindle the long lost relationship. — The Herald.
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Tobacco sales reach 221,8m kg
At least 221,8 million kg of tobacco worth $647 million have been sold at contract and auction floors since the start of the selling season in March this year, statistics released by the industry regulator show.
Statistics that the Tobacco Industry and Marketing Board released on day 70 of sales show that the volume of tobacco sold so far is a 32 percent increase from 167,7 million kg worth $492,3 million traded during the comparable period last year.
Of the total volume of tobacco sold so far this year, at least 189,2 million kg went through the contract system while the remainder went under the hammer.
In the last season, farmers earned over $600 million from over 190 million kg of the golden leaf produced. — The Herald.
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RBZ to bring more forex
Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya says they will continue to source foreign currency to support the multi-currency regime, which is expected to remain in force for the foreseeable future.
This comes as the social media has been spreading deliberate lies that Zimbabwe was set to reintroduce a local currency from July 9.
Mangudya said claims that the local currency would be reintroduced are “false and malicious”, and designed to cause panic on the market. There is a feeling that illegal foreign currency dealers are behind the reckless messages, with a view to influence parallel market rates for foreign currency.
“The Reserve Bank of Zimbabwe dismisses the false article on the reintroduction of the local currency with the contempt it deserves,” said the apex bank boss.- The Herald.
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$4,2bn platinum project takes shape
The $4,2 billion platinum investment project in Mhondoro-Ngezi has become one of the fastest projects to be implemented under President Mnangagwa’s administration, with the investor, Karo Resources of Cyprus, having already moved mining equipment on site, only three months after the deal was signed.
Mines and Mining Development Minister Winston Chitando said that President Mnangagwa was expected to do the ground-breaking ceremony for the massive project in the next two weeks.
The project, which is expected to create 15 000 direct jobs and a further 75 000 indirect jobs, is primed to help transform the economy.
Karo Resources in March this year signed the biggest investment deal in Zimbabwe since independence, and immediately promised to ensure the project took-off. — The Herald..
