Government has raised the minimum capital requirements for short-term insurers and life assures, with the newly appointed Insurance and Pensions Commission (IPEC) board expected to enforce them during the first quarter next year, Finance Minister Patrick Chinamasa said on yesterday.
As the new republic limped towards its third decade, the dispirited nation, under the slackening grip of its ageing but iconic founding leader, was starting to question the revolution.
The Morgan Tsvangirai led faction of the Movement for Democratic Change has rubbished the much-herald historic visit of Chinese leader Xi Jinping tomorrow as nothing more than a public relations exercise as China has openly said it will not commit any money to Zimbabwe unless President Robert Mugabe irons out the succession battle in his Zimbabwe African National Union-Patriotic Front.
Hotelier African Sun widened its loss for the year to September by 47 percent to $3.36 million as the group incurred huge retrenchment costs following its exit from the regional market.
Mashonaland Holdings’ loss position worsened to $6 million in the full-year to September from $27 000 last year due to weak rental income and falling occupancy levels, the company said on Friday.
The Ministry of Transport was last week rapped for the shoddy work on the Plumtree-Harare-Mutare Road which was carried out by a South African company, Group 5.