News about Zimbabwe that you can use
The government has committed to grant more mining concessions to Hwange Colliery Limited (HCCL) and acceded to its proposed $88 million rights issue that will help the coal miner clean its balance sheet for its turnaround, mines minister Walter Chidhakwa said on Friday.
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Former Energy Minister Dzikamai Mavhaire and former Higher Education Minister Olivia Muchena were booted out of the Senate on Wednesday, according to Parliament’s official record, Hansard.
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The country’s second biggest medical aid society, Cimas has announced that it will introduce a raft of measures to reduce claims and abuse of benefits by some members while defending its 50 percent increase in subscriptions.
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Agro-industrial concern TSL Limited’s after tax profit for the half-year to April has narrowed to $1.7 million from $3.5 million in prior year due to declining revenue and rising finance costs, the company says.
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Lands Minister Douglas Mombeshora says communal farmers will not be charged any land rentals but new farmers who were allocated land as either A1 or A2 farmers will be charged land rental and unit tax because the land belongs to the state so they cannot continue to use it for free.
(290 VIEWS)
Hospitality concern Rainbow Tourism Group (RTG) has recorded a 14 percent decline in revenue to $7.6 million in the quarter to March due to a fall in the number of conferences which traditionally drive revenue for the group.
(213 VIEWS)
Zimbabwe’s economy risks being caught in the trap of deflation, with corporate earnings seen continuing to shrink unless the country restores investor confidence to attract investment, a local investment advisory firm has said.
(325 VIEWS)
Botswana’s central bank has been granted an order by the High Court in that country to liquidate Nigel Chanakira’s Kingdom Bank Africa Limited due to insolvency, the bank said today.
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Harare City Council has resorted to legal action to recover up to $25 million owed by residents and companies and cancelled more than 250 lease agreements after tenants failed to pay rentals, an official has said.
(269 VIEWS)
