News about Zimbabwe that you can use
Resource group Mwana Africa today came under attack from the Zimbabwe government for changing the board and management of its two local subsidiaries saying this will negatively affect the implementation of its indigenisation law.
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Three short-term insurers have failed to meet the industry prescribed $1.5 million minimum capital requirement as gross premiums written (GPW) in the first quarter to March remained flat, mirroring the slowdown in economic growth, the regulator said today.
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The World Bank has lowered Zimbabwe’s economic growth forecast to a modest one percent this year from an initial projection of 3.2 percent, its worst performance in five years due to falling commodity prices, but is seen recovering in the next two years.
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When United States President Barack Obama last week told the nation that Washington was speeding up the training of ISIL forces- Islamic State of Iraq and the Levant- this was quickly brushed off as a slip of the tongue. He meant the training of Iraq forces.
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Private equity firm, Takura Capital will know tomorrow if its bid to take over the 63 percent shareholding in former listed concern, Cairns Holdings previously held by the central bank is successful after creditors voted to either accept the bid or liquidated the company.
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Mobile operator Telecel Zimbabwe today launched a drive to expand its retail footprint, showing the company’s confidence that it will regain its operating licence which was revoked by government in April.
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Agriculture deputy minister Paddy Zhanda today said that the government has stopped issuing out new licenses for abattoirs in a bid to contain the spread of foot and mouth disease which has hit the southern parts of the country.
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President Robert Mugabe’s spokesman George Charamba says it is not Mugabe’s task to take a leading role in investigating the whereabouts of activist Itai Dzamara who disappeared in March.
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Zimbabwe’s cash-strapped government is set to lose nearly $600 000 which is locked up in Allied Bank — majority owned by transport minister Obert Mpofu — while municipals and other state departments are owed over $2.5 million following its collapse early this year, with chances of recovering all the money slim.
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Mutare-based vehicle assembler, Quest Motors says it will start producing Japanese models in the fourth quarter of this year after signing franchise agreements with the manufacturers.
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