BUSINESS NEWS

Zimbabwe’s new finance minister said yesterday he would accelerate plans to pay arrears to the World Bank and the African Development Bank and would work on a three-year programme to cut government spending.

Nespresso aims to revive Zimbabwe’s coffee industry and stimulate the country’s rural economy through a new long-term investment plan.

The Zimbabwe Anti-Corruption Commission yesterday indicated that it was keen to interview Finance Minister during the Government of National Unity era Tendai Biti over allegations that he instructed the National Social Security Authority (NSSA) to deposit over $30 million into two banks which later collapsed.

by Tapiwa Matonhodzi

Early this September the nation woke up to the much unanticipated scaling down of some of the mines operated by Metallon Gold Limited (Ltd) as a result of mismanagement, Harare Post has learnt.

Acting President, Dr Constantino Chiwenga, will today lead proceedings during the launch of the Joshua Mqabuko Nkomo Legacy Foundation, a key tourism heritage project and a major highlight of this year’s Sanganai/Hlanganani World Tourism Expo.

by Chiedza Tembo

Anjin Investments has pinned its hopes on President Emmerson Mnangagwa’s administration to have its mining rights restored, so it resumes operations in Chiadzwa, after its licence was revoked in 2016.

The Reserve Bank of Zimbabwe (RBZ) has to date disbursed $100 million out of the $150 million Gold Development Initiative Fund (GDIF) and plans to review the facility upwards following overwhelming applications by small-scale miners.

The Forum on China-Africa Cooperation (FOCAC) offers great opportunities for Zimbabwe, which looks forward to receiving more Chinese investment under the framework of the bloc, Zimbabwean President Emmerson Mnangagwa said Saturday, ahead of the FOCAC Summit.

by Rudo Saungweme

Timber production is one of the business sectors that have remained viable in Zimbabwe against all odds. Harare Post had a round-up visit of the exhibitors on that last day of the show where timber companies expressed satisfaction with their market, both local and international.

by Rudo Saungweme

Special economic zones is the way to go in order to boost exports, increase foreign direct investments, create new jobs and facilitate overall economic development.

Emmerson Mnangagwa was officially sworn in as president of Zimbabwe on Sunday after winning a bitterly-contested election which was the country’s first since the ousting of strongman Robert Mugabe.

Caledonia Mining Corp PLC said Friday it intends to re-purchase its 15% shareholding in Blanket Mine Ltd following an amendment to Zimbabwean law.