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Chinamasa

Top Stories

20 State firms without CEOs

AT least 20 parastatals are being run by acting chief executive officers, bringing into question government’s commitment to reviving the loss-making enterprises, which are bleeding the fiscus. Zimbabwe has 78 State-run firms and nearly all of them are teetering on the verge of collapse due to heavy losses.…

  • January 29, 2015
Opinions

Editorial | Chinamasa should redeem situation

WHY, why, why? This was the question many were asking this week after the Minister of Finance Patrick Chinamasa increased duty on fuel at a time industrialists, motorists and the general public were preparing for a sharp decline in fuel prices in line with falling international fuel prices.…

  • January 22, 2015
Top Stories

Govt, civil servants on collision course

THE ZANU-PF government is on a collision course with its employees as the cash-strapped administration moves to trim its labour force, estimated to number over 250 000. Finance Minister, Patrick Chinamasa, in his budget presentation last month said employment costs had become a problem which could “not continue…

  • January 8, 2015
Companies & Markets

Govt debt continues to increase

GOVERNMENT borrowings registered a 57 percent increase in the year to October 2014, as the administration continued to scrounge for cash in a strapped economy, a latest Reserve Bank of Zimbabwe (RBZ) report has said. On a monthly basis, net credit to government increased by 6,34 percent, from…

  • January 8, 2015
National Report

Trade deficit hounds Zimbabwe

ZIMBABWE’s trade balance continues to show a deficit with the negative balance standing at US$3 billion in the first 11 months of last year as imports continued to outpace exports, according to the latest data from the Zimbabwe National Statistics Agency. The agency reported that imports for the…

  • January 8, 2015
National Report

Zim dollar demonetisation still outstanding

THE long overdue demonetisation of the now defunct Zimbabwe dollar, which the government attempted early this year, is still outstanding, a cabinet minister has revealed. Demonetisation refers to the act of withdrawing a currency from further use and stripping its status as legal tender.  That is necessary when…

  • December 18, 2014
Property

Construction of Walvis Bay dry port resumes

GOVERNMENT says construction of the Walvis Bay dry port facility, which had been delayed by lack of funding, has commenced with civil works already underway. The civil works are expected to be complete by June next year, according to a progress report on the implementation of the Zimbabwe…

  • December 18, 2014
National Report

Bleak Christmas for Zimbabweans

ZIMBABWEANS are bracing for a bleak Christmas with a deep sense of deprivation over what the future holds for the country. Although Christmas decorations can be seen in many retail outlets in Harare, Bulawayo and other parts of the country ahead of the approaching festive season, these have…

  • December 11, 2014
Companies & Markets

ZSE slumps on weak economy

THE slowdown in the economy has resulted in the total value of shares traded on the Zimbabwe Stock Exchange (ZSE) in November declining to US$34,9 million from US$44,5 million in October. According to the ZSE figures, the mining index declined to 47,02 from 52,68 in October. The industrial…

  • December 11, 2014