Stories

A team of Chinese experts from the State planning body, the National Development and Reform Commission, is in Zimbabwe to evaluate the mega deals signed by President Robert Mugabe and the Chinese President Xi Jinping last year.

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Tourism and Hospitality Industry Minister Walter Mzembi says the government must reduce the 15 percent Value Added Tax (VAT) on foreign accommodation to five percent to grow the sector and boost state revenue.

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The Speaker of Parliament Jacob Mudenda last week issued an order to legislators not to interrupt the flow of debate through unnecessary point-of-orders.

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Trade between Zimbabwe and Mozambique grew 64 percent to $725 million in two years to 2014, attributed to an operational bilateral trade agreement which gives two countries duty concessions to qualifying products.

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The government’s revised economic growth of 1.5 percent for the year is too ambitious and shows that the economy has stalled, with no immediate prospects for recovery, a local investment advisory firm has said.

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Zimbabwe is looking to adopt electronic tolling technology similar to that used in neighbouring South Africa as the cash strapped government plans to put up  an additional 30 toll gates on its highways and in urban areas to shore up revenue streams, an official has said.

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World Bank senior country economist Johannes Herderschee says protectionist measures introduced by finance minister, Patrick Chinamasa last week would not help local industry, which he said had no capacity to meet demand and needed more support for retooling and recapitalising.

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A lion called Cecil from Zimbabwe hit the headlines this week. He had been shot by a dentist from Minnesota as part of a high-end bow hunting trip to Gwaai Conservancy on the edge of Hwange National Park.

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Speaker of Parliament Jacob Mudenda has lamented the poor attendance of Members of Parliament and has accused some of “cheating” by attending sittings for a short period before leaving the House resulting in most of the members’ motions being debated in the absence of a quorum.

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Sugar refiner starafricacorporation says it has reached an agreement to sale subsidiary Bluestar Logistics but is still looking for takers for its 33 percent stake in Tongaat Hulett Botswana (THB) to raise funds to make part settlements to creditors and proposed a debt to equity swap to improve its balance sheet.

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