Government has declared the import ban that sparked mass protests in Beitbridge border post as a temporary measure that will be uplifted in due time.Industry and Commerce Minister Mike Bimha has urged local industry to use the import ban window to retool and increase domestic output saying the restriction would not be “forever”.The government implemented Statutory Instrument 64 of 2016, which
ZIMBABWE's largest mobile operator Econet says it has rebranded itself in order to offer new and exciting customer-driven services.The company fronted by exiled business mogul Strive Masiyiwa has also introduced a new logo which came with a new campaign message dubbed "Look Up Zimbabwe, the Future is Bright".Although Econet is the largest and most successful mobile service provider in Zimbabwe, i
Advocate Jacob Mudenda,the speaker of Parliament yesterday raised a query on the $200 million Afreximbank bond note strategy saying the money could have been used to boost gold reserves which were going to raise close to $1,5 billion.The proposal by government to introduce Bond notes has sparked widespread national debate with critics fearing the initiative could take the country back to the hyper
Traders are crying foul after having their goods stuck in Bietbridge Border Post for over seven while struggling to get permits to ship goods that are restricted from Open General Import Licence under Statutory Instrument (SI) number 64 of 2016.The SI tightens screws on the import of basic commodities including food items, building material, furniture, toiletries and cooking oil among other things
The amount of police roadblocks have been declared a hindrance to profitability of business by delegates attending the Zimbabwe National Chamber of Commerce Congress as it is an impediment to the Ease of Doing Business.National Assembly Speaker Advocate Jacob Mudenda yesterday said there was need for the police to reduce the number of roadblocks as recently pronounced by national police spok
The Africa Export and Import Bank, is yet to publicise its position on the yet to be launched Zimbabwean Bond Notes. The decision to introduce bond notes by the Reserve Bank of Zimbabwe has been vehemently declined by the public. But RBZ is set to launch the notes in September this year.The RBZ has said the bond notes, which will trade at a ratio of 1:1 with the US dollar, are backed by a $200 mil
Zimbabwe has to adopt the South African rand in a bid to attract foreign investors, the de Vere Group have said.In a statement yesterday, de Vere Group’s area manager for Zimbabwe, Botswana and Mozambique, Shane Helberg said Zimbabwe’s adoption of the rand, as the main trading currency, should be championed.“While the rand perhaps isn’t as weighty as the US dollar for international trade,
Cross border traders and travelers have been given a final warning by the Zimbabwe Revenue Authority (zimra) as it threatens to seize cross border buses that transport goods banned under statutory instrument number 64 of 2016 into the country.The instrument tightens screws on imports of basic commodities without licences.The parastatal has since written to cross-border transporters warning them ag
The Zimbabwean government is in trouble with the International Labour Organisation (ILO) after failing to implement recommendations made by a commission of inquiry eight years ago to, among other things, harmonise the country’s labour laws in line with international standard procedures.A recent report by the technical committee tasked by the ILO executive to investigate Zimbabwe noted that the c
Last Thursday, citizens of the United Kingdom voted in a referendum, dubbed Brexit, on whether or not to remain in the European Union (EU). The results are out and Britain has chosen to leave. According to the results, 48.1 percent voted to remain in the EU and 51.9 voted to leave.What are the key reasons why campaigners wanted to leave the EU?According to those campaigning for Brexit, these are t
Zimbabwe will not be joining other countries in Southern Africa which have adopted the South African rand as the sole official trading unit, Finance and Economic Development Minister Patrick Chinamasa has revealed.Chinamasa said the rand was already in the multi-currency basket, hence it had to be used like any other units.He was presenting a ministerial statement on the state of the economy and t
The fiscus could be losing close to $1 billion annually through smuggling of goods, the Zimbabwe Revenue Authority (Zimra) has said.The revenue loss, more than a quarter of the 2016 National Budget, came as government has been battling to meet its monthly commitments such as paying salaries to civil servants and service providers on time.Responding to NewsDay inquiries, Zimra board chairperson Wil
Zimbabwe is experiencing serious shortages of the South African rand and Chinese yuan as the country attempted Monday to shift to these currencies to address the current critical shortages of cash, especially the United States dollar.Bank queues are now the order of the day in a nation with a fast declining economy due to subdued industrial production, low exports, lack of foreign direct investmen
Parliament’s mines committee says it is disappointed that the recently formed Zimbabwe Consolidated Diamond Mining company is not properly constituted and not yet fully operational when the nation is expecting reasonable revenues from diamond sales amid a crippling cash crisis.Acting chief executive officer, Ridge Nyashanu and interim company chairman and Mines Ministry permanent secretary, Fran
Over-pricing of tourism products and a stronger United States dollar currency is threatening the survival of once Zimbabwe's cash cow, the tourism industry, top events and incentives business experts have said.Speaking in an interview on the sidelines of the incentive travel consultants training workshop ahead of the Sanganai/Hlanganani that kicks off today, Society for Incentive Travel Excellence
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