Stories

The equities market is set to close the year nearly 20 percent lower and having shaved off almost $1 billion in market capitalization, a performance below analysts’ expectations, reflecting a sick underlying economy.

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After the bruising fight that nearly split the Zimbabwe African National Union-Patriotic Front in the run-up to the congress, the poisoning attempt on Emmerson Mnangagwa a day before he was appointed vice-president, and the car accident involving Vice-President Phelekezela Mphoko a day after his swearing in, one would have thought President Robert Mugabe would have delayed his annual leave to let things settle down. But two days after swearing in his two-deputies, he was off on his annual vacation, leaving two novices, one without any legislative experience at all, in charge.

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The Roman god, Saturn, ate his children, but was overthrown by one who got away. For politicians, the moral of the story is that you have to keep eating them,…

The Industrial Development Corporation of Zimbabwe (IDC)’s loss position worsened to $22 million for the year ended December 2013 from $20.8 million the previous year, with the institution’s auditors raising the red flag over its going concern status.

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The appointments of Emmerson Mnangagwa and Phelekezela Mphoko as vice-presidents, the reshuffling of the cabinet and the announcement of the 2015 national budget by Finance Minister Patrick Chinamasa have all failed to inspire confidence in the nation and will not move the country forward, the president of the MDC Renewal Team Sekai Holland said in her end of year message.

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Negotiations to secure funding for the dualisation of Harare-Beitbridge highway are at an advanced stage, a review of the ZimAsset economic blueprint has shown,  while government is planning to open…

The Member of Parliament for Bulawayo South Eddie Cross has been accused of leaking information that he got as a member of the Portfolio Committee on Finance and Economic Development…

The World Bank has set up a multi-donor trust fund for Zimbabwe which could raise $100 million next year, a gesture signalling that the institution was re-engaging with the bankrupt southern African country.

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Movement for Democratic Change leader Morgan Tsvangirai today said his party had a plan to determine the endgame so that the country returns to full legitimacy and regains its lost confidence but he did not spell out what the plan was or its time-frame.

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Kwekwe-based Steelmakers says it will from next year generate 18 megawatts from industrial waste gas to mitigate regular power cuts and reduce overheads after acquiring new technology.

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