The Industrial Development Corporation of Zimbabwe (IDC)’s loss position worsened to $22 million for the year ended December 2013 from $20.8 million the previous year, with the institution’s auditors raising the red flag over its going concern status.
The appointments of Emmerson Mnangagwa and Phelekezela Mphoko as vice-presidents, the reshuffling of the cabinet and the announcement of the 2015 national budget by Finance Minister Patrick Chinamasa have all failed to inspire confidence in the nation and will not move the country forward, the president of the MDC Renewal Team Sekai Holland said in her end of year message.
Negotiations to secure funding for the dualisation of Harare-Beitbridge highway are at an advanced stage, a review of the ZimAsset economic blueprint has shown, while government is planning to open bids to dualise major highways under a Build Operate Transfer (BOT) model.
The Member of Parliament for Bulawayo South Eddie Cross has been accused of leaking information that he got as a member of the Portfolio Committee on Finance and Economic Development at a general meeting of Meikles before the committee had presented its report to the House.
The World Bank has set up a multi-donor trust fund for Zimbabwe which could raise $100 million next year, a gesture signalling that the institution was re-engaging with the bankrupt southern African country.
Movement for Democratic Change leader Morgan Tsvangirai today said his party had a plan to determine the endgame so that the country returns to full legitimacy and regains its lost confidence but he did not spell out what the plan was or its time-frame.