Business

Forex dealers popularly known as ‘‘money-changers’’ are back on the streets operating underground as they still claim that there is high demand for foreign currency now because government is charging duty in foreign currency.

The Zimbabwe Revenue Authority (Zimra) has recorded a decline of $27 million from commercial and vehicle imports in the first 10 days after Government legalised the payment of duty on specified goods in foreign currency, it has emerged.

The Posts and Telecommunications Regulatory Authority (Potraz) has ruled out the possibility of issuing additional licences for mobile operators, saying the country does not have the capacity to absorb more firms like other countries. Potraz director technical services Engineer Baxton Sirewu said Zimbabwe had to live within its spectrum, which he described as scarce.

Former vice president Phelekezela Mphoko’s world is crumbling down following his fall from grace in November last year.

Four buses belonging to the troubled Zimbabwe United Passengers Company Limited (Zupco) are set to go under the hummer to offset a debt.