HARARE, November 9 (The Source) – Zimbabwe’s budget deficit will grow to $1,82 billion this year, from the initial projection of $400 million on runaway government expenditure, finance minister Ignatius Chombo said on Thursday.
HARARE, November 8 (The Source) – The morning after President Robert Mugabe sacked his deputy, pensioners are still outside a branch of NBS on Samora Machel Avenue. While we all gorged on a stream of news in a day of high political drama, engaged in… Read More
HARARE, November 2 (The Source) – Zimbabwe’s broke government has released $4 million to settle overdue sitting allowances for Members of Parliament, about 50 percent of the total owed, Clerk of Parliament Kennedy Chokuda said on Thursday, calming restive legislators.Parliamentarians last month protested over allowances… Read More
By Ray Chipendo, HARARE, October 25 (The Source) – When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still dancing, said Chuck Prince, former Citigroup chief… Read More
HARARE, October 12 (The Source) – Life assurers reported a 9 percent decline in profit to $33 million in the quarter to June from $37 million in the comparable period last year on increased operating expenses. Net premiums fell 1,7 percent to $174 million in… Read More
BULAWAYO, October 12 (The Source) – Botswana-listed retail group, Choppies says revenue at its Zimbabwe operations grew by 17 percent in full year ended June 30 despite a sluggish economy underlined by chronic shortages of cash. The growth in revenue was despite a three percent… Read More
HARARE, October 11 (The Source)- Zimbabwe’s tax agency has this year registered 14,000 small to medium enterprises (SMEs) with the small businesses contributing about 25 percent to the fiscus, an official said on Wednesday. SMEs minister, Sthembiso Nyoni told a press conference on Wednesday that… Read More
HARARE, October 11 (The Source) – The Zimbabwe Energy Regulatory Authority (ZERA) says two international firms have submitted bids to provide fuel marking services as it battles to meet a 2018 first quarter deadline. The two firms are Swiss-based manufacturer of security inks, SICPA SA… Read More
HARARE, October 6 (The Source) – Clothing retail chain, Truworths widened its loss after tax by 73 percent from $1 million to $1,7 million in the full year to July weighed down by a 24 decline in revenue.
BULAWAYO, October 5 (The Source) — Zimbabwe’s mineral exports increased 25 percent to $1,69 billion between January and September, up from $1,35 billion during the same period last year on the back of increased output, Mines minister Walter Chidhakwa has said. Speaking at the Zimbabwe… Read More
BULAWAYO, October 4 (The Source) — The Bulawayo City Council (BCC) has unbundled its Ingwebu Breweries with the unit set to operate as a separate entity, mayor Martin Moyo said on Wednesday. Moyo told The Source on the sidelines interviews of the on-going Zimbabwe Alternative… Read More
HARARE, October 4 (The Source) – The National Social Security Authority (NSSA) says its plans to invest in the Cold Storage Commission (CSC) will not be affected by the meat processors legacy debts which are being dealt with in a recently approved scheme of arrangement.… Read More
HARARE, October 4 (The Source) – Reserve Bank of Zimbabwe (RBZ) governor John Mangudya on Wednesday told a meeting of business leaders that the country was generating sufficient foreign currency but was suffering from lack of confidence in the financial system. Mangudya said Zimbabwe… Read More
HARARE, October 3, (The Source) – The proposed investor for PG Industries, Dewei Investments says it has received regulatory approvals and will proceed to pay off the building materials manufacturer’s shareholders and creditors this month. The approvals confirm a bailout that has been uncertain after… Read More
BULAWAYO, October 3 (The Source) – Botswana retail group Choppies says its net profit for the full year ended 30 June 2017 is expected to be lower than the previous year on losses accrued from new regions. The group which has more than 30 outlets… Read More