Stories

Total banking sector credit to the domestic economy increased by 16 percent to $4.8 billion in May, from $4.5 billion in April 2015 as the banks increased exposure to agriculture and individual borrowings, latest central bank figures have shown.

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Zimbabwe’s PER Lusulu Power has signed an agreement with China State Construction Engineering Corp Ltd to build a coal power station in April next year, company officials said yesterday.

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Courier firms operating in Zimbabwe say  illegal cross border runners are dominating the courier business and the country could be losing millions of dollars in untaxed informal transactions.

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ZB Financial Holdings says it has secured $20 million in interest free loan from one of its major shareholders its subsidiary, ZB Bank Limited, to boost its capital base and that its performance in the first four months of the year were above budget.

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The parliamentary portfolio committee on indigenisation yesterday quizzed three mining firms about their dealings with advisory firm Brainworks Capital in controversial indigenisation deals, most of which failed to succeed.

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Tobacco processor and exporter, Mashonaland Tobacco Company (MTC) today lost tobacco worth millions of dollars after a fire broke out at one of its warehouses, officials said.

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The government has passed a new law that shields the country’s largest medical aid society from facing litigation from its creditors as it restructures the parastatal’s debt.

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An opposition Member of Parliament Priscilla Misihairabwi-Mushonga yesterday complained about why ministers were not in Parliament for question time- which takes place every Wednesday when Parliament is sitting- saying that as a niece to the President she was aware that he had returned to the country at 2 am and cabinet was only meeting today.

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The 90th edition of the Midlands Agricultural Show, which started yesterday is without one of its main attractions, the cattle exhibition, following the outbreak of foot and mouth in the province, an official has said.

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Mines and Mining Development minister Walter Chidhakwa says mining companies in Zimbabwe should collaborate and build a power station to mitigate power shortages in the country.

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