News

I was quite excited when I was asked to pay Tsh12 000 (about $6.67) to see a doctor in Dar es Salaam. I had been in Tanzania for nearly four months and had dared not see any doctor, though I had a skin rash three days after my arrival which I could not explain. I thought it was too expensive and just went to pharmacies and bought products that I had read on the internet could treat rash. These ranged from aloe vera, baby powder, deodorants without alcohol, miconazole cream to garlic. I was thinking like a typical Zimbabwean. The consultation fee in Zimbabwe ranged from US$20 to US$30, so if I could buy something without a prescription so much the better.

(272 VIEWS)

Mining Group RioZim is seeking to raise $10 million through a rights offer to reopen the Cam and Motoring gold mine near Kadoma, a cash cow until it was shut down nearly 50 years ago and key to the group’s revival.

(201 VIEWS)

Zimbabwe’s tax agency hopes to surpass the 2015 revenue target of $3.7 billion despite missing last year’s fourth quarter forecast by 10 percent on the back of low economic activity, a senior official said.

(251 VIEWS)

Central bank governor John Mangudya yesterday said he will not experiment with the economy during his tenure but will find ways to push for implementation of radical changes that will drive economic growth.

(166 VIEWS)

The European Union today  pledged over $110 million to support the Zimbabwe’s agriculture industry under a five year fund as the bloc resumes direct aid to the southern African country.

(414 VIEWS)

The Deposit Protection Corporation will pay out just over $1.7 million to depositors of the now defunct Trust Bank, the Reserve Bank said yesterday but provided a fresh window for new investors to shore up the bank.

(100 VIEWS)

Zimbabwe is the most repressed economy in sub-Saharan Africa and in the bottom five worldwide – due to government intervention, policy inconsistency and corruption, according to the 2015 Index of Economic Freedom which, however notes recent gains in monetary freedom and state spending.

(165 VIEWS)

Five new investors have expressed interest in investing in food manufacturing firm, Cairns Holdings and are currently conducting due diligence after  another potential investor, Vasari Global of South Africa failed to commit.

(695 VIEWS)