HARARE, July 18 (The Source) – The Zimbabwe Electoral Commission (ZEC) says it has submitted a $274 million funding proposal to enable the southern African country to hold polls next year, a development seen loading more debt on the struggling economy.
HARARE, July 14 (The Source) – Struggling state-owned National Railways of Zimbabwe (NRZ) only has 60 operational locomotives, some as old as 50 years and owes its workers $90 million in unpaid salaries, according to a Parliamentary Portfolio Committee report. NRZ has a fleet of… Read More
HARARE, July 13 (The Source) – The State owned, Central Mechanical and Engineering Department CMED) is owed close to $25 million by the Zimbabwe government and the Zimbabwe Electoral Commission (ZEC) for car rentals as far back as 2013, compromising its service delivery, according to… Read More
HARARE, June 28 (The Source) – Finance Minister Patrick Chinamasa on Wednesday told Members of Parliament that the National Assembly was too big, and that the costs of maintaining it were too high.
HARARE, June 27 (The Source) – Ministry of agriculture says that 37,000 hectares of wheat has been planted against a target of 60,000 hectares, Parliament heard on Tuesday. This represents a 165 percent increase on the 14,000 hectares planted in the 2016/7 season and 10,000… Read More
By Kuda Chideme, HARARE, June 23 (The Source) – Zimbabwe’s loans register is in shambles and the country may have been prejudiced of more than $100 million in fictitious loan repayments, a report by the Auditor General Mildred Chiri has revealed. The report, which was… Read More
HARARE, June 22 (The Source) – Zimbabwe expects to produce 2,5 million carats of diamonds this year after acquiring equipment for its state-owned Zimbabwe Consolidated Diamond Company but legal challenges remain over its move to nationalise diamonds fields in the east of the country. President… Read More
HARARE, June 21 (The Source) – Zimbabwe’s Tobacco Research Board says it produces enough seed to serve both the domestic and export markets, despite receiving no government support.
HARARE, June 19 (The Source) – The Zimbabwe Republic Police collects up to $15 million in traffic fines annually, Home Affairs Minister Ignatius Chombo told Parliamentarians on Monday. “The whole year it’s between $12 million and $15 million and it’s all accounted for,” Chombo told… Read More
HARARE, June 13 (The Source) – Government says its decision to freeze recruitment of public sector workers has lowered its wage bill to 65 percent of expenditure, from around 85 percent previously and resulted in monthly savings of $10 million. Zimbabwe, with a budget funded… Read More
HARARE, June 5 (The Source) – Zimbabwe’s Treasury has issued about $600 million worth of Treasury Bills to settle debts owed by parastatals and local authorities to the country’s power utility, a senior government official has said. In January, the Zimbabwe Electricity Supply Authority… Read More
HARARE, April 12 (The Source) – Government has to date issued Treasury Bills totalling $4,417 billion since 2014 with $3,315 billion of those being current, Finance Minister Patrick Chinamasa has said, admitting increased reliance on the paper to bridge the state’s funding gap and to… Read More
HARARE, April 12 (The Source) – The Movable Property Security Interest Bill has gone through a second reading in the National Assembly, as Zimbabwe moves towards the use movable assets such as livestock, motor vehicles, inventory and accounts receivable as collateral to for bank loans.… Read More
HARARE, March 14 (The Source) – The Bankers Association of Zimbabwe (BAZ) has warned that any further cuts in interest rates may result in banks reducing lending to the productive sector as they opt for state issued Treasury Bills, which are seen as less risky.… Read More
HARARE, March 2 (The Source) – The government’s special maize production programme, which planned 400,000 hectares of the staple crop, only saw about 38 percent of that target planted by the second week of February, Agriculture Minister Joseph Made told Parliament on Thursday. Through… Read More