US$50m plant lying idle

US$50m plant lying idle

By Ndafadza Madanha A recently completed state of the art US$50m detergent powder and paste manufacturing plant is lying idle in Harare’s industrial hub as the investors are battling to secure foreign currency from the central bank to acquire raw material to kick start the project. The project has the potential create to 300-500 jobs when operational and was granted national project status by the ministry of finance and economic development. Promoters of the project Trade Kings through general manager Piet Rinke said the plant had the potential to cut…

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Privatize parastatals: Chakravati

Privatize parastatals: Chakravati

By Ndafadza Madanha GOVERNMENT should dispose of the bulk of its entities if it serious about turning around the fortunes of the economy and putting a lead on its expenditure according to a leading economist. Professor Ashok Chakravati who doubles as an economic consultant and advisor to the government said at least 90 state entities should be put under the hammer. “We have 114 entities worth US$15 billion but the bulk of them are not performing. We need a wholesale privatization of state entities and we must not be timid…

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Kagonye denies abusing workers…as Parly ratifies ILO protocol on forced labour

Kagonye denies abusing workers…as Parly ratifies ILO protocol on forced labour

By Daniel Chigundu LABOUR and Social Welfare Minister Petronella Kagonye has denied claims from Bulawayo South legislator Eddie Cross that she is using forced labour on her farm and that she has not been paying her various workers. Speaking in the National Assembly during debate on which Minister Kagonye was seeking Parliament approval for the ratification of the International Labour Organisation Protocol to the Forced Labour Convention P029 of 2014, Honourable Cross said he had heard that that the minister was abusing here workers. “Madam Speaker, I have a particular…

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Funds delay Township Tourism program

Funds delay Township Tourism program

By Daniel Chigundu LACK of adequate funds has been pinpointed as the major contributor to delays in fully implementing the country’s Township Tourism program. Township Tourism was launched during Sanganai/Hlanganani in 2012 with a view of converting homes used by nationalists during the liberation struggle into tourist attraction centres. During the launch which was accompanied by a tour to Highfields, then Tourism Minister Walter Mzembi highlighted that government was going to renovate houses used by former President Robert Mugabe, his deputy Joshua Nkomo, Hebert Chitepo and Nathan Shamuyarira among others….

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Govt promotes domestic tourism …move is in line with the 100 days Action plan framework

Govt promotes domestic tourism …move is in line with the 100 days Action plan framework

By Daniel Chigundu GOVERNMENT says it will be embarking on a Domestic Tourism Campaign with a view to encourage locals to visit tourist attraction centres in the country. Tourism facilities in Zimbabwe are said to be priced beyond the ability of locals who are hamstrung by the current economic hardships. This has seen the country not doing well in terms of domestic tourism statistics compared with neighbouring countries such as South Africa. Addressing the media, Tourism and Hospitality Industry Minister Prisca Mupfumira said it was disappointing to note that attraction…

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Hwange power generation hits 661MW

Hwange power generation hits 661MW

By Ndafadza Madanha THE country’s power situation has received a major boost with the coming on line of unit six at Hwange Power Station with total output now at 661MW of the 920MW installed capacity at the plant. According to Energy and Power Development, Minister Simon Khaya Moyo unit six underwent successful refurbishment. “All six units at Hwange are generating 661MW and its years since we had such output and one of the reasons is unit six which underwent refurbishment and is now in full swing,” said Moyo. Situated in…

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Chinamasa to scrap tax on electronic transfers

Chinamasa to scrap tax on electronic transfers

By Daniel Chigundu FINANCE and Economic Development Minister Patrick Chinamasa says he is going to scrap the 5percent tax on all electronic transfers below US$10 to make it cheaper to transact. Electronic transfers are said to be on the high in Zimbabwe owing to the various taxes which are then passed on to the customers when they eventually transact. According statistics, electronic transfers in Zimbabwe are ranging to about US$90 billion per year largely driven by RTGs us$62 billion and mobile banking US$28 billion, while cash only accounts for US$7billion….

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Local investor snaps up stake in Dr Dish

Local investor snaps up stake in Dr Dish

By Staff Reporter PROMINENT lawyer Gerald Mlotshwa through his Ktulu Nominees has emerged as the single largest Shareholder in Dr Dish following a deal signed over the weekend. The transaction will see Mlotshwa becoming the Chairman of Dr Dish, while Nyasha Muzavazi steps down as Executive Chairman to assume the Chief Executive Officer role. “I am very excited to announce the taking over of 50% by Ktulu Nominees representing the family interests of one of Zimbabwe’s prominent Lawyers Gerald Mlotshwa. The transaction brings in the much needed Capital to launch…

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Foreign Investments safe: ED

Foreign Investments safe: ED

By Ndafadza Madanha PRESIDENT Emmerson Mnangagwa has assured foreign investors that their investments are safe and his administration will honor all Bilateral Investment Protection Agreement Zimbabwe have signed. The pronouncements come at a time when government has intensified efforts to lure foreign direct investment with the head of state penciled to undertake his maiden trip to the World Economic Forum gathering in Switzerland next week. “All investments are safe and secure and all BIPPA will be honored and I have directed the ministry of foreign affairs to ratify all agreements…

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Chinamasa concedes to pressure …as Parliament passes 2018 budget

Chinamasa concedes to pressure …as Parliament passes 2018 budget

By Daniel Chigundu FINANCE Minister Patrick Chinamasa had to literary buy passage for his 2018 National Budget as legislators had dug-in on their demands for Parliament and health sector. Parliamentarians were unanimous in their demand for adequate budget for the legislature arguing that the initially allocated US$57 million was not enough to effectively funding their oversight role. Parliament last year failed to hold public meetings in some areas and had to literary depend on the benevolence of development partners. However after threatening to sabotage the budget, Minister Chinamasa was left…

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