Stories

Altfin Insurance, whose licence was cancelled at the beginning of this year, will now be liquidated with some creditors likely to recover 20 percent of the amount they are owed as the company’s liabilities exceed assets.

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Tourism Minister Walter Mzembi says Zimbabwe must open its borders and skies if it wants to achieve the $5 billion tourism economy within five years.

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The local unit of VimpelCom, Telecel Zimbabwe, sees data and overlay services contributing half of revenues within the next two years driven by a gradual growth in smartphone penetration, new chief executive officer Angeline Vere said.

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Zimbabwe’s social security agent should reduce its exposure on the capital markets and balance its investment portfolio with infrastructure projects and employment creation to help offset an underperforming economy, labour minister Priscah Mupfumira said today.

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The City of Harare says it is owed up to $80 million in unpaid water bills which have accrued since 2013 as water revenue continues to decline and expects the introduction of prepaid water meters to bolster its revenue base.

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Fresh from dismissing founding chief executive Kalaa Mpinga last month, resources group Mwana Africa has fired several staff, including consultants with more to come in a shake-up the company says is designed to lower overhead costs and change its working culture.

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Former Mwenezi East Member of Parliament Kudakwashe Bhasikiti’s case in which he was challenging his expulsion from the Zimbabwe African National Union-Patriotic Front was yesterday thrown out after Judge Chinembiri  Bhunu ruled that Bhasikiti had jumped the gun and should have approached the party’s central committee to appeal against his expulsion instead of approaching the court.

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The World Bank has advised government to overhaul the country’s consumer protection laws and promote financial literacy but says inclusion remains low due to lack of confidence in the banking sector, a report has shown.

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Movement for Democratic Change leader Morgan Tsvangirai is expected not only to attend the prayer meeting organised for activist Itai Dzamara on Saturday but will also deliver a speech according to his spokesman Luke Tamborinyoka.

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Former indigenization minister, Saviour Kasukuwere today maintained that five diamond mining companies in Marange had pledged $50 million to community trusts but were failing to meet their pledges due to lack of finances.

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