Business

‘Only 1 indigenisation transaction concluded, & all major mining deals ‘abandoned’,

Posted on by newzimbabwevision
‘Only 1 indigenisation transaction concluded, & all major mining deals ‘abandoned’,

ADVISORY firm Brainworks Capital on Thursday said only one indigenisation deal had been consummated by government, while transactions worth over $1 billion with major platinum mining firms Anglo American Platinum, Impala and Aquarius had been abandoned. Zimbabwe’s Indigenization Act — enacted in 2008 — requires foreign owned companies valued at over $500,000 to cede 51 percent to black locals. The local ownership law has been cited as a major impediment to foreign investment in an…

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‘Stoaway plunges to death from plane underbelly, J’burg S.Africa to Heathrow’.

Posted on by newzimbabwevision
‘Stoaway plunges to death from plane underbelly, J’burg S.Africa to Heathrow’.

The desperation to reach the first world is clearly seen in the thousands of people  who are taking a perilous sea journey on people smuggler boats from the coast of Libya across the Mediterranean sea to reach Europe,  all the way from East, central and North Africa, however this in a way is surpassed by a suspected ‘plane stoaway who   plunged to his death today from a  British Airways jet’, having held on 8000…

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Philip Chiyangwa in Trauma Centre after his Harare mansion was gutted by fire,

Posted on by newzimbabwevision
Philip Chiyangwa in Trauma Centre after his Harare mansion was gutted by fire,

We have just received pictures of businessman Philip Chiyangwa’s Harare mansion which has been gutted by fire in the main bedroom area. The circumstances surrounding the fire remain unclear at the moment. The controversial businessman did not get a chance to take a selfie and was first taken to the Trauma Centre and he is now at the Avenues clinic where he is being treated for burns and glass cuts. More to follow. Source: bulawayo24

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Zimbabwe Revenue Authority (ZIMRA) raises duty on all second hand cars

Posted on by newzimbabwevision
Zimbabwe Revenue Authority (ZIMRA) raises duty on all second hand cars

  The Zimbabwe Revenue Authority (ZIMRA) unilaterally increased import duty on all second-hand motor vehicles with effect from last Wednesday.The move has resulted in duty for a wide range of motor vehicles increasing by between $200 and $400, while those importing top-of-the-range second-hand models are forking out more. Where importers used to spend at least $6 000, they now need $400 more. A ZIMRA official at Beitbridge Border Post said the changes sought to ensure…

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Telecel appoints Mrs Angeline Vere as the new Chief executive

Posted on by newzimbabwevision
Telecel appoints Mrs Angeline Vere as the new Chief executive

Mrs. Angeline Vere, a lady who has been employed by  Telecel Zimbabwe  since 2004, and also a  holder  of a Bachelor of Laws Honours Degree (LLB), a Masters in Laws (LLM) degree with specialization in Commercial law and a Diploma in Finance and Accounting was appointed by the Telecel Board of Directors as  the new  Chief Executive Officer, with effect from June 10, 2015, in line with the Telecel’s equal employment opportunity and empowerment policies. Mrs Vere , has…

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US$5 billion needed to rehabilitate Zimbabwe’s roads & US$400million for Harare

Posted on by newzimbabwevision
US$5 billion needed to rehabilitate Zimbabwe’s roads & US$400million for Harare

THE country’s road infrastructure authority sees licence fees collections doubling to $55 million this year from $27 million collected last year, but remains too low to fund the country’s aging road  network,  an official told a Parliamentary committee on Monday. Zimbabwe requires $5 billion to rehabilitate its road network, but with recurrent expenditure accounting for nearly 80 percent of total revenue and worsened by a $10 billion foreign debt overhang, government is unable to close the…

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RESERVE BANK OF ZIMBABWE RATE S$ $175, 000, 000, 000,000, 000 to US$ 5

Posted on by newzimbabwevision
RESERVE BANK OF ZIMBABWE RATE S$ $175, 000, 000, 000,000, 000 to US$ 5

Zimbabweans who lost savings at the height of the hyperinflation in 2009 which saw the collapse of the Z$ and unofficial adoption of a multi currency system with the use of the South African Rand and US$ will be able to exchange their Z$ account balances from Monday until September 2015 at a rate of Z$175 quadrillion to US$5. This exercise was pre empted by the intriduction of Bond coins into circulation valued at US$10million…

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