Public Health Bill ready for parliament

Public Health Bill ready for parliament

THE new Public Health Act (PHA) is now ready for presentation before parliament amid revelations that the final drafting of the bill is due this week. Briefing an advocacy meeting on the PHA, Binga North legislator Prince Dubeko Sibanda who is also a member of the parliamentary portfolio committee on Health and Child Care said the drafter of the bill had assured them that the document would be ready for parliament before end of this week ahead of the public consultations. By Michael Gwarisa “According to the Chief drafter in…

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ZADHR support doctors strike

ZADHR support doctors strike

By Staff Reporter ZIMBABWE Association of Doctors for Human Rights (ZADHR) has thrown its full weight behind the striking doctors adding that their cause is genuine. Doctors are currently on strike owing to poor working conditions that include measly salaries. The association said the ministry of health and the health services board must address concerns of doctors urgently to avert needless loss of lives in the country. In a statement ZADHR said the impasse is causing undesirable exposure of patients and violations of their right to healthcare and deserve urgent…

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Export Incentive for tourism

Export Incentive for tourism

By Ndafadza Madanha THE country’s apex bank has extended its export incentive scheme to tourism sector in a bid to cushion the industry against the strong US$. Presenting the monetary policy statement RBZ governor John Mangudya said the loss of competitiveness of the industry was a result of the gains the US$ has made against regional currencies in recent years particularly the South African rand. He said the RBZ is encouraged by the impact of the 5% export incentive scheme in stimulating export growth and in the process boosting output,…

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Credit Registry System goes Online

Credit Registry System goes Online

Staff Reporter THE Reserve Bank of Zimbabwe (RBZ) has operationalised the credit registry system in a move that is expected to curb multi –borrowing and tame non performing loans in the financial sector. In his monetary statement RBZ governor John Mangudya said the credit registry had to date captured a quarter of the 414 262 loans which are in the banking sector. “The Reserve bank is pleased to advise that the Credit Registry system is now operational after it went live with effect from January 2017. In line with the…

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Banks to be trained on SMEs financing

Banks to be trained on SMEs financing

By Daniel Chigundu FINANCIAL services providers in the country are set to be equipped with knowledge and skills on financing millions of medium, small to micro enterprises (MSMEs) operating in the country. The MSMEs sector in Zimbabwe plays a critical role in economic development through job creation, and poverty alleviation. According to the FinScope MSME Zimbabwe Survey 2012, MSMEs employ approximately 5.7 million people, the majority of whom are women. The survey also estimates that the MSME sector is contributing more than 60 percent to the country’s gross domestic product….

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ZEC requires US$900K for mapping exercise

ZEC requires US$900K for mapping exercise

By Michael Gwarisa THE Zimbabwe Electoral Commission (ZEC) needs US$900 000 to complete the electoral mapping exercise ahead of the 2018 general elections. Briefing a media forum, ZEC Chairperson Rita Makarau hinted that they had commenced an electoral boundary mapping exercise in most parts of the country and the process had already gobbled US$400 000. “We do have financial support for this particular mapping exercise from the fiscus; we however still need more money. The support we are getting is enough to make us carry on but much more is…

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Building Societies close housing gap

Building Societies close housing gap

By Daniel Chigundu RESERVE Bank of Zimbabwe (RBZ) governor Dr. John Mangudya says building societies were instrumental in closing the country’s housing backlog in 2016. Zimbabwe has about 1.25 million housing backlog and this has seen the rise of unscrupulous land barons and baronesses who are duping home seekers by selling them stands illegally which resulted in some houses being demolished last year. In an effort to protect home-seekers from being duped government went on to ban some housing cooperatives and stopped giving land to private developers. In his 2017…

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Deposits Up 6 percent

Deposits Up 6 percent

By Michael Gwarisa TOTAL banking sector deposits went up 6.10 percent, from US$6.14 billion as at 30 September 2016 to US$6.51 billion as at 31 December 2016. Presenting the 2017 Monetary Policy, Reserve Bank of Zimbabwe (RBZ) Dr John Mangudya said the commercial banking sub-sector accounted for 82.02 percent of the banking sector deposits and 74.18 percent of the total banking sector loans as at 31 December 2016. The composition of total banking sector deposits as at 31 December 2016 is depicted below. “Banking sector deposits were dominated by demand…

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Forex shortages bite CAFCA

Forex shortages bite CAFCA

By Ndafadza Madanha CABLE manufacturer Cafca says the foreign currency shortages prevailing are affecting its ability to replenish stocks. Cafca managing director Robert Webster told the company AGM that unless the forex situation improves, the company may run out of raw material by end of March. “We have US$2.2m in the bank and under normal circumstances, we would be happy with the position. Foreign exchange is our biggest challenge and we shall have stock out of raw materials by February as we need a six week head start to get…

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Chinese looting US$ notes

Chinese looting US$ notes

By Michael Gwarisa CHINESE business people operating in Zimbabwe are reportedly engaging in illicit money laundering and externalisation deals at the expense of the Zimbabwean economy which is reeling under massive foreign currency shortages, The Business Connect can reveal. An investigation conducted by this paper indicates that most Chinese business people are buying clean and new US$100 bills from consumers at very attractive rates for externalisation purposes while most Chinese shops were rejecting bond notes. Even though the investigation cannot reveal how much has been siphoned outside the country by…

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