The Insider

President Robert Mugabe yesterday acknowledged that political independence without economic empowerment was hollow. However, he did not come up with any new initiatives to get the country out of its present economic quagmire except reiterate programmes that the government has introduced but which have so far failed to kickstart the economy.

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Zimbabwe’s tax agency says most revenue heads are underperforming, with collections for the year to date falling 14 percent short of the $542 million target.

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The Movement for Democratic Change led by Morgan Tsvangirai today brushed off reports that its treasurer-general had failed to account for the US$500 000 that the party received under the Political Parties Finance Act saying this was the work of Central Intelligence Organisation agents who are grossly offended by the increasing popularity of the party.

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Quest Motors will start assembling several Chinese vehicle models during the course of the year to increase capacity at its Mutare assembling plant, company director Tarik Adam has said.

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The tobacco farmers will this year pay 1.5 percent of their earnings to industry efforts to curb deforestation, an official has said.

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The Morgan Tsvangirai faction of the Movement for Democratic Change has called on the Zimbabwe Electoral Commission chair Rita Makarau and her team to resign and not be part of sham by-elections to be held in Mount Darwin West and Chirumanzu-Zibagwe next month.

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Zimbabwe’s hard-up government, which has resorted to domestic borrowings to support its budget, is struggling to repay and is scrambling to reschedule some of the debt as it falls due.

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The local unit of South Africa’s Impala Platinum has reported an 88 percent drop in after tax profit for the six months to December compared to the same period last year on weakening volumes and depressed prices.

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Zimbabwe’s largest gold producer Metallon Corporation has reported a $10 million after tax profit in 2014 and sees earnings more than doubling to $22 million on improved output and acquisition of the new mines, the company reported today.

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