The Insider

First Lady Grace Mugabe yesterday urged children to be serious with their education saying they should stop seducing men because education should be their first husband.

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Zimbabwe received $409.5 million from the Diaspora in the first half of the year compared to $397.8 million the previous year as confidence in formal money transfer channels grows, finance minister Patrick Chinamasa has said.

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Confederation of Zimbabwe Industries (CZI) president Busisa Moyo says policy inconsistencies and failure by the government to address investor concerns on its local ownership policy are major stumbling blocks to attracting foreign direct investment.

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Industry and Commerce Minister, Mike Bimha, said the ongoing wave of job losses is good for the industry, which he said has been saddled with ‘excess workforce’ before a recent Supreme Court ruling gave employers leeway to fire workers without the costs associated with retrenchment packages.

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The Morgan Tsvangirai faction of the Movement for Democratic Change today said President Robert Mugabe should swallow his pride and resign to save the nation.

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Vice President Phelekezela Mphoko has called on Zimbabweans, especially the media, to leave him alone. He is not interested in becoming president and has important work to do for the nation as a vice-president.

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Zimbabwe’s Transport Minister Obert Mpofu has distanced himself from indigenisation deals involving private equity and advisory firm Brainworks and said he was also not involved in soliciting pledges towards the $50 million Zimuto/Marange community ownership trust (CSOT), as details on the transactions emerge.

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Zimbabwe’s Finance Minister today said the government plans to cut the public sector wage bill to 40 percent of total revenue from the current 80 percent, signalling a move to reduce its bloated civil service, amid a lower economic growth forecast of 1.5 percent from the initial 3.2 percent.

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Finance minister Patrick Chinamasa delivered Zimbabwe’s Mid-Term Fiscal Policy review today. Below are the highlights

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President Robert Mugabe did not attend United States President Barack Obama’s address to the African Union on Tuesday because this was a meeting of the AU commission and not the assembly which Mugabe chairs and is attended by Heads of State.

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