News

The Securities and Exchange Commission of Zimbabwe (SECZ) on Friday asked Meikles Limited to come clean on its foreign investments, corporate governance issues and failure to disclose the actual amount it is owed by the central bank.

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The Tsvangirai faction of the Movement for Democratic Change today blasted President Robert Mugabe over his remarks about taking over the remaining white farms and conservancies, saying it was this kind of talk that scared investors and damaged the image of the country.

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Shareholders of the country’s third biggest mobile operator, Telecel, on Friday said they are ready to resolve the shareholding dispute involving Empowerment Corporation (EC) and have engaged various ministries to end the squabbles.

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Vice-President Phelekezela Mphoko, whose comments about Gukurahundi have raised a lot of eyebrows, was not the first former Zimbabwe People’s Republic Army officer to blame the British government for the Gukurahundi massacres in Matebeleland and the Midlands in the 1980s.

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President Robert Mugabe yesterday acknowledged that political independence without economic empowerment was hollow. However, he did not come up with any new initiatives to get the country out of its present economic quagmire except reiterate programmes that the government has introduced but which have so far failed to kickstart the economy.

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Zimbabwe’s tax agency says most revenue heads are underperforming, with collections for the year to date falling 14 percent short of the $542 million target.

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The Movement for Democratic Change led by Morgan Tsvangirai today brushed off reports that its treasurer-general had failed to account for the US$500 000 that the party received under the Political Parties Finance Act saying this was the work of Central Intelligence Organisation agents who are grossly offended by the increasing popularity of the party.

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Quest Motors will start assembling several Chinese vehicle models during the course of the year to increase capacity at its Mutare assembling plant, company director Tarik Adam has said.

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The tobacco farmers will this year pay 1.5 percent of their earnings to industry efforts to curb deforestation, an official has said.

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