The Insider

Government will carry out due diligence audits for 15 out of the 91 state-owned enterprises and parastatals as treasury seeks to reform the largely loss-making entities that continue to drain the fiscus, Finance Minister Patrick Chinamasa said today.

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President Robert Mugabe has announced a new politburo in which he has abolished the post of national chairman with previous chairman, Simon Khaya Moyo being dropped to secretary for information and publicity. Here is the line-up:

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The World Bank has extended a $75 million grant to Zimbabwe under its International Development Association to rehabilitate the country’s largest man-made lake and boost its energy generating capacity.

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Zimbabwe’s fuel price level cannot be compared with other countries as they have different cost structures, the state energy regulatory authority has said.

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Zimbabwe’s public sector is perceived to be one of the most corrupt in sub-Saharan Africa, only coming second to Angola in the southern African region, a report has shown.

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A unit of Redcliff-based steel manufacturer, Steelmakers is seeking a $155 million loan to increase its sponge iron output to 300 000 tonnes from the current 30 000, a company official has said.

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The Speaker of the House of Assembly Jacob Mudenda today challenged business to submit their proposed changes to the country’s indigenization law to parliament, saying lawmakers stand ready to push the executive arm of government to amend the law widely criticisced for low foreign direct investment inflows.

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