ZINARA increases charges by 500%

ZINARA increases charges by 500%

By Natalie Chiwomadzi THE Zimbabwe National Road Administration (ZINARA) has increased vehicle licensing by 500%, which finance minister; professor Mthuli Ncube said is justified by the depreciation of the local unit against major currencies. Following ZINARA’s dismissal of reports that encouraged people to pay for vehicle licences before the increases, Ncube contradictorily announced the increase of light motor vehicles toll fees to ZWL$10 from ZWL$2 while that of heavy vehicles surged to ZWL$25 from ZWL$5. License fees for light vehicles were also increased to ZWL$100 from ZWL$20. In the same…

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Old mutual launches youth innovation hub

Old mutual launches youth innovation hub

Staff Reporter  Financial services group Old Mutual Limited (OML) has unveiled Eight2Five, a value creation competition and co-innovation center in collaboration with the British Council. Launched yesterday, Eight2five seeks to empower, house and finance start up companies and help them create and achieve growth. Speaking at the launch event, OML group chief executive officer, Jonas Mushosho said they believe in the ability to create value. He said as technology and competition is changing, consumers have shifted and the ‘Eight2five value creation challenge’ will nurture the next big enterprises to come out…

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Mthuli tables $10.89bln supplementary budget

Mthuli tables $10.89bln supplementary budget

By Tendai Sahondo  Finance and economic development minister, Professor Mthuli Ncube yesterday tabled a $10.89bln supplementary before parliament yesterday as the country continues reel from a spiraling economic downturn.  Total expenditures of $18.62 bln anticipated against revenues of $14.1 Employment costs to gobble ZWL$5.56 billion $803.6mln budget surplus realised in H1 Presenting the mid-term review and supplementary budget before parliament, Ncube said the cushion is aimed at tackling constraining economic developments that have cropped up in recent months. “In view of recent economic developments, it has become necessary to update…

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