Stories

Zimbabwe’s exports of tobacco are up more than 42 percent as at August 7 earning the country $341 million compared to $240 million last year, statistics from the industry regulator show.

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Zimbabweans need to remove the ‘cancer’ or ‘potholes’ of negativity and discontentment if the country is to move forward, the country’s central bank governor John Mangudya said in his monetary policy statement.

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The governor of the Reserve Bank of Zimbabwe John Mangudya has urged the business community to further reduce their prices because small change is now readily available.

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Possession of gold, which currently has a mandatory five-year jail term, is to be decriminalised if the country’s central bank, which is the custodian of the precious mineral, gets its way.

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Bikita West legislator Munyaradzi Kereke says the government cannot abdicate its duty to feed the nation. It is not only unfair but impractical and unconstitutional to expect the private sector to do that.

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Zimbabwe has received $210 million in loans from external sources to finance various projects in the first six months of the year, the central bank said yesterday.

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Despite being fired from his post as chief executive of resources group, Mwana Africa, Kalaa Mpinga is bidding to retain his position as chairman of its 75 percent owned subsidiary, Bindura Nickel Corporation (BNC) at the company’s annual general meeting at the end of the month.

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Zimbabwe’s banks have agreed to lower their interest rates, which currently go as high as 30 percent, with effect from October 1 in terms of guidelines agreed with the central bank, Bank chief John Mangudya announced today.

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Zimbabwe’s cooking oil producers will be able to meet the country’s demand for edible oils by September as capacity utilization in the sector is improving after government imposed punitive levies on imports, but an official said the protectionist measures should be temporary.

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Parliament’s Portfolio Committee on Finance and Economic Development, which reviewed Finance Minister Patrick Chinamasa’s mid-term fiscal policy review announced last week, says the government should seriously consider how to unlock value of the country’s natural resources to finance development programmes.

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