Stories

Zimbabweans do not fully understand the value of the United States dollar, the main currency that they have been using since 2009, because it is only in Zimbabwe that a hamburger that costs US$1 in most countries costs up to US$15.

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Foreign investors operating in what have been classified as “reserved” sectors for local entrepreneurs have one month to comply with the country’s indigenisation laws and the government says it will ensure that they do so.

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Inflation drops-Zimbabwe’s inflation was today reported to have declined to 0.59 percent in October, despite the liquidity crisis in the country, largely because of the weakening South African rand. South Africa is Zimbabwe’s main trading partner accounting for 40 percent of total exports and 60 percent of total imports. The Zimbabwe National Statistics Office says that because of the tight liquidity situation, there is an across-the-board weakness in consumer spending or low aggregate demand.

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Zimbabwe may be cash strapped but it has money for ex-Rhodesian government pensioners who retired after independence but is unable to pay them because of logistical problems.

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A Masvingo legislator has called on the governments of Zimbabwe and South Africa to plug a loophole being exploited by South African scrap metal to claim rebates from the South African Revenue Service for recovering gold from scrap when they have actually bought the gold from Zimbabwe.

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British Foreign Minister Mark Simmonds said the decision whether to lift or continue with the sanctions against Zimbabwe would be that of all members of the European Union and not just the United Kingdom.

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Hardly four months after the elections, the Zimbabwe African National Union-Patriotic Front and the Movement for Democratic Change are battling to appease the electorate with the MDC saying it will establish Constituency Development Funds while ZANU-PF says it will monitor project implementation by its legislators.

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Zimbabwe and China sign $320m power deal – Zimbabwe and China today signed a $320 million power deal for the expansion of the Kariba South Hydro Power Project which will boost electricity generation by 300 megawatts. The deal was signed by Finance Minister Patrick Chinamasa and Zhu Hongjie president of the China Exim Bank which provided a loan of $319.5 million payable over 20 years at 2 percent interest. The Zimbabwe Power Company will provide only 10 percent of the project cost which is $35.4 million. The project is expected to take four years and will be carried out by a Chinese company Sino Hydro.

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Britain barred Zimbabwe’s re-entry into the Commonwealth at the just ended summit in Sri Lanka without Harare first addressing the deep concerns that remain about human rights and political freedoms, British Prime Minister David Cameron said yesterday.

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Information Minister Jonathan Moyo has called for zero tolerance to negative politics describing the current squabbles in the Zimbabwe African National Union-Patriotic Front provincial elections as “side shows”.

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