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Air Zim has new CEO after Chikumba quit
Air Zimbabwe holdings board has appointed Innocent Mavhunga as the acting chief executive officer (CEO) following Peter Chikumba’s resignation. Chikumba, who had served the airline for four years, decided not to renew his contract.
Commercial Banks Resume Consumer Lending
Some Zimbabwean commercial banks are resuming consumer lending, making loans for school fees, settling power and water bills, and for 7other purposes, in general lending the equivalent of one month’s salary at 28 percent annual interest.
Lawyer says Mpofu can’t cancel ACR licences
AFRICAN Consolidated Resources (ACR) shareholder and legal counsel Jonathan Samkange said threats to cancel the company’s mining licences by Mines minister Obert Mpofu this week were of no legal effect.
Land case referred to international court
An international tribunal has been appointed to consider the case of a German farming family in Zimbabwe, whose three farms were illegally invaded by ZANU PF members in June.
Econet to invest US$300 million in expansion
ECONET Wireless Zimbabwe says it will have invested an additional US$300 million on expanding and upgrading its network by February next year. This would take cumulative investment in mobile phone operations to about US$1 billion.
Biti and Mujuru join forces on budget
VICE-President Joice Mujuru and Finance minister Tendai Biti this week unusually closed political ranks and threatened MPs from Zanu PF and MDC-T with expulsion from their parties if they blocked the 2011 national budget, the Zimbabwe Independent can reveal.
Mugabe’s wife implicated in illegal diamond trade
Johannesburg – Zimbabwe President Robert Mugabe’s wife was among those who gained millions of dollars from illegal diamonds mined in the east of the country, according to a US cable obtained by WikiLeaks.
Central Bank to lay off 1600 workers
The central bank will lay off 74 percent of its workers as part of a drive to return focus to its core role as a monetary authority, the bank’s chief said in a statement on Tuesday. Staff levels at the Reserve Bank of Zimbabwe grew more than 10-fold between 2003 and 2008.
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