Thursday, July 27, 2017

SA business seeks Zimbabwe guarantees on investment

HARARE, April 6 (Reuters) - South African business leaders on Monday called for guarantees to protect new investment in Zimbabwe, after noting efforts by Harare's new unity government to attract business to help its battered economy.

Zimbabwe ranks low in property protection rights

ZIMBABWE sits among the world’s bottom in a league of 115 economies in terms of protecting property rights, Collectively, the 115 economies surveyed account for 96 percent of the world Gross Domestic Product (GDP).

Edgars credit is back

Credit is back, this is the message that Edgars Stores is sending to its customers.

Government uses 65 percent revenue on wages

Zimbabwe’s government is earning only US$100 million per month, 65 percent of which goes to wages, Finance Minister Tendai Biti told reporters on Thursday, painting a grim picture of the state coffers at a time civil servants are on strike for improved salaries.

Zimbabwe to shut down Hwange

Zimbabwe is considering closing down the Hwange thermal power station because of constant breakdowns, three years after Namibia pumped US$40 million, nearly N$300 million, into the refurbishment of the plant.

Zimbabwe seeks US$1 billion from African Development Bank

President Robert Mugabe of Zimbabwe, which has become a major recipient of food aid over the past decade, was to deliver remarks on agriculture to his fellow heads of state at the African Union summit that opened Wednesday in the coastal city of Sirte, Libya.

Zimbabwe banks retrench

Zimbabwe banks have embarked on massive retrenchment exercises as a way of trying to keep afloat.

Finance minister says West ready to cancel debt

Western donors are ready to cancel Zimbabwe's $6 billion foreign debt, Finance Minister Tendai Biti said on Thursday, adding that the lenders were waiting for Harare to put the process in motion.

Zimbabwe begins to collect toll fees next month

The Zimbabwean government will start collecting toll fees from motorists with effect from next month to maintain and upgrade national roads, Finance Minister Tendai Biti has said.

SA firm regrets doing business with Mugabe

The Pinetown-based company that sold state-of-the-art dairy equipment to Grace Mugabe for her farm, did not know they were doing business with the wife of Zimbabwean President Robert Mugabe and regrets the deal.
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