Archive for Category: "Business"

Mugabe police chiefs run Marange diamond field

Mugabe police chiefs run Marange diamond field

A Zimbabwean diamond field said to be the largest in the world is being mined by companies staffed by Robert Mugabe’s police and military chiefs who may use the proceeds to crack down on opposition supporters, Global Witness has warned.

Police hunt for loan shark Frank Buyanga

Police hunt for loan shark Frank Buyanga

Zimbabwean police have issued an international warrant of arrest for flamboyant businessman Frank Buyanga, who reportedly fled the country last year after swindling people of more than US$4 million. Buyanga is said to have swindled over 500 property owners in Zimbabwe, among them politicians, musicians and businesspeople.

Pension & pay dates for civil servants changed

Pension & pay dates for civil servants changed

HARARE- The government has changed pension and pay dates for all civil servants with effect from this month to allow it more time to mobilise funds amid liquidity constraints on the market. The dates have been pushed forward by an average five days.

Mozambique threatens to cut power to Zimbabwe

Mozambique threatens to cut power to Zimbabwe

MOZAMBIQUE has threatened to cut off power supply to Zimbabwe over a US$5 million debt. Hydro Cahora Basa supplies Zimbabwe with about 500 megawatts to cover shortfalls. Zesa Holdings has capacity to generate between 900 megawatts and 1200 megawatts against a growing national demand of 1900 to 2200 megawatts.

RBZ imposes cash withdrawal limits

RBZ imposes cash withdrawal limits

HARARE – Reserve Bank of Zimbabwe governor Gideon Gono has imposed daily cash withdrawal limits of $10 000 on individual transactions. The announcement by the central bank comes on the back of a liquidity crunch.

Emirates makes maiden flight into Zimbabwe

Emirates makes maiden flight into Zimbabwe

EMIRATES Airlines made a grand entrance into the Zimbabwean airspace yesterday at a colourful event witnessed by hundreds of on-lookers at the Harare International Airport. The crowd, including travellers and spectators, cheered as the Airbus 330-200 touched down shortly after 4pm.

Zimglass set to resume operations in April

Zimglass set to resume operations in April

GWERU- The country’s sole glass manufacturer, the Zimbabwe Glass Industries (Zimglass) is set to resume operations in April after the company secured funding to refurbish its furnaces.

Diamonds to fund student grants in Zim

Diamonds to fund student grants in Zim

Zimbabwe’s government plans to use some of the revenue from the sale of its rough diamonds to reinstitute grants for students, the University World News reports.