The government is crafting legislation to compel mining firms to release production data to the fiscus to help curb illicit financial flows (IFFs) and transfer pricing which is costing African countries at least $50 billion annually, finance minister Patrick Chinamasa said yesterday.
The provisional judicial manager of the troubled Tetrad Investment Bank (TIB) has opposed a court bid by the holding company’s directors to dismiss him and maintains that the bank must be liquidated after failing to secure an investor to salvage the business.
Zimbabwe’s largest company by revenue, Innscor Africa limited has announced plans to re-enter the Nigerian market and expand its logistics and distribution unit as the conglomerate seeks to minimize its portfolio risk, chief executive officer Toni Fourie has said.
Seven senior members of the Zimbabwe African National Union-Patriotic Front, all believed to be loyal to ousted former Vice-President Joice Mujuru, were expelled from the party yesterday in a purge that poses a challenge to the group to form their own party.
Telecel Zimbabwe, which is currently embroiled in a legal battle with government over its licencing and compliance with the indigenisation law, yesterday declined to appear before a parliamentary committee because its case was before the court.