Vendors benefit from military coup

Vendors benefit from military coup

By Daniel Chigundu THE decision by the Zimbabwe Defence Forces to take over government on Tuesday appears to have also worked in favour of vendors who sell their wares in Harare’s Central Business District (CBD). Of late vendors were having endless running battles with both municipal police and the Zimbabwe Republic Police (ZRP) following a directive from President Robert Mugabe that they must be removed from the streets. However since Tuesday when the ZDF entered the capital with its armoured personnel carriers, the ZRP and municipal police seem to have…

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Zanu PF purges: military seriously concerned

Zanu PF purges: military seriously concerned

By Daniel Chigundu COMMANDER of the Zimbabwe Defence Forces (ZDF) general Constantine Chiwenga says the military is worried by the current purging in Zanu PF which seems to be targeting people with liberation war history. Zanu PF is currently embroiled in factional fights over succeeding President Robert Mugabe who will turn 94 years in February next year. The succession fight has claimed such cadres as Joice Mujuru, Didymus Mutasa, Rugare Gumbo, Christopher Mutsvangwa and more recently Emerson Mnangagwa. War veterans have also not been spared by the fights which are…

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CDF: why proportional MPs deserve a share

CDF: why proportional MPs deserve a share

By Daniel Chigundu ZIMBABWE’S constitution says there shall be 210 Parliamentary Constituencies in the country which shall be represented by a legislator elected directly through the secret ballot. The constitution also makes provision for the inclusion of 60 women legislators elected through proportional representation (PR) for the duration of the first 10 years (2013 to 2023) of the life of the new supreme law. The 60 women (6 from every Province) are in the National Assembly to help raise issues affecting women and also to help them get the courage…

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Kaseke hopeful Chombo will adequately fund tourism

Kaseke hopeful Chombo will adequately fund tourism

By Daniel Chigundu ZIMBABWE Tourism Authority (ZTA) chief executive Dr Karikoga Kaseke says he is hopeful that the new Minister of Finance and Economic Development Ignatius Chombo will adequately fund tourism. The Finance Minister is expected to present the 2018 national budget anytime soon and Parliament will this week attend a pre-budget seminar in Victoria Falls. The tourism sector has largely been neglected when it comes to budget allocation from treasury and the thinking is that it should fund its activities from the 2 percent Tourism Fund Levied from operators in…

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MPs want CDF increased to US$1million

MPs want CDF increased to US$1million

By Daniel Chigundu LEGISLATORS have called on the government to increase the Constituency Development Fund (CDF) from the current US$50 000 to at least US$1 million per year. Parliament this week adopted the CDF constitution that will see legislators begin to receive the important funds that have been talked about since 2013. Currently, treasury has availed about US$5 million from the expected US$10.5 million budgeted towards the development fund. According to a circular received by legislators, the funds will begin to trickle into the designated accounts as soon as all…

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2018 budget should prioritise renewable energy: Chirisa

2018 budget should prioritise renewable energy: Chirisa

By Daniel Chigundu PROPORTIONAL Representation legislator Fanny Chirisa has called on Finance Minister Ignatius Chombo to prioritise renewable energy in his 2018 national budget as a way of reducing pressure on the environment. Owing to limited energy sources in the country, the majority of people have largely been turning to firewood which has resulted in depletion of forests and has health effects to women. Since independence, Zimbabwe has depended heavily on hydro and thermal power, but these sources have not been adequate to cover the entire country and at some…

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Don’t be fooled, tourism drives the economy: Kaseke

Don’t be fooled, tourism drives the economy: Kaseke

By Daniel Chigundu ZIMBABWE Tourism Authority (ZTA) chief executive Dr Karikoga Kaseke says contrary to what most people think, tourism drives many sectors in the economy and deserves a better share of the national budget. Despite requiring about US$17 615 400 to effectively implement its various programs that will help drive tourism, ZTA only got about US$830 000 from the 2017 budget. Appearing before a Parliamentary Portfolio Committee on Environment, Water, Tourism and Hospitality Industry, Dr Kaseke said hotels which many people refer to as tourism are just a distant fraction…

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Govt to recover bonuses from parastatal bosses: Chombo

Govt to recover bonuses from parastatal bosses: Chombo

By Daniel Chigundu FINANCE and Economic Development Minister Ignatius Chombo says his ministry is working to recover money lost from parastatal bosses who were awarding themselves multiple bonuses since 2012. Although the majority of parastatals are under-performing and have been perennial loss-making entities for several years, its bosses have however been consistent in awarding themselves hefty bonuses which should have been performance based. Speaking at a board effectiveness and performance management guidelines workshop organised by the Office of the President and Cabinet, Chombo said public funds must be fully justified and…

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38 parastatals make US$270m loss …as govt blames incompetence boards

38 parastatals make US$270m loss …as govt blames incompetence boards

By Daniel Chigundu CHIEF Secretary to the President and Cabinet Dr Misheck Sibanda has revealed that about 38 parastatals made a combined US$270 million loss in 2016 owing to corporate governance weaknesses. Addressing delegates during a workshop on board effectiveness and performance management guidelines, Dr Sibanda said mostly parastatals are technically insolvent and are a potential drain to the fiscus. “Audited financial statistics for 2016, for 93 State Enterprises (SEPs) revealed an overall loss of US$270 million by the 38 surveyed commercial entities. “The worrying fact is that of those…

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Chombo turns to Kuruneri …as 2018 budget looms

Chombo turns to Kuruneri …as 2018 budget looms

 By Daniel Chigundu NEWLY appointed Finance Minister Ignatius Chombo has sent an SOS message to ailing former Finance Minister Chris Kuruneri over the 2018 National Budget. Chombo who is relatively unknown in economics circles was appointed to take over the country’s purse from Patrick Chinamasa who had assumed the position since 2013 elections. However, Chombo’s life was made difficult as he has come at a time when the country is working on the 2018 budget amid high employment costs in the region of 95 percent, poor revenue collections and lack…

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