In a recording breaking turn of events remittances send to the country from Diasporans have since overtaken foreign aid. 2020’s remittances have broken the record by having the highest ever remittances sent from abroad. Speaking to journalists in Bulawayo, Finance Minister Mthuli Ncube pointed out that the remittances received in all of 2020 amounted to… Continue reading Zimbabwe received a staggering US$1 billion from diasporans in 2020
Category: Business
The problem with the African mentality: Strive Masiyiwa
Sharing knowledge must become our culture! __”We cannot always build the future for our youth, but we can build our youth for the future” by Strive Masiyiwa When I was a young entrepreneur just beginning to enjoy success, I began to give interviews in the local media about business, giving tips and sharing knowledge —… Continue reading The problem with the African mentality: Strive Masiyiwa
Agricultural financing made easy through AFC Holdings launched by President Mnangagwa
Working in line with vision 2030, President E D Mnangagwa has on the 30th of April 2021 launched the Agricultural Financing Corporation (AFC). Vision 2030 is aimed at making Zimbabwe a prosperous and empowered upper middle income nation. AFC Holdings is expected to play a very crucial role in turning this vision into a reality.… Continue reading Agricultural financing made easy through AFC Holdings launched by President Mnangagwa
Are you a small to medium Zimbabwean business? Here’s how you can receive funds from the IFC today
The Covid pandemic was a huge blow to businesses. The most affected were small to medium businesses. The Covid situation in addition to the unstable economy in Zimbabwe lead the demise of many such businesses. However, if money is the issue there is help. Following the negative impact of the corona virus on Zimbabwean small… Continue reading Are you a small to medium Zimbabwean business? Here’s how you can receive funds from the IFC today
Forbes lists Strive Masiyiwa as a ‘British’ billionaire, have we lost one of ours?
So, the Forbes billionaires list came out and boy did we struggle to find Econet’s founder Strive Masiyiwa. We knew he would appear on the list as he had in previous years. Turns out, the problem was that we were searching by country “Zimbabwe.” Surprisingly Strive Masiyiwa was on the list BUT not as a… Continue reading Forbes lists Strive Masiyiwa as a ‘British’ billionaire, have we lost one of ours?
Government considers acquiring goods and services from local SMEs
The Small and Medium Enterprises Association of Zimbabwe (SME) has proposed an alignment of the Procurement Regulatory Authority of Zimbabwe(PRAZ) Act to their policies. This proposal is being highly considered as the inclusion of SME will help PRAZ achieve its mandate of promoting a fair, efficient, competitive and transparent public procurement in the country. One… Continue reading Government considers acquiring goods and services from local SMEs
JUST IN: Strive Masiyiwa featured in the Forbes Billionaires 2021 list
The Forbes Billionaire 2021 list has unveiled that Zimbabwe’s Strive Masiyiwa is the 2035th richest man in the world. Strive Masiyiwa is the founder and chairman of Zimbabwe’s largest mobile operating networking system, Econet Wireless. Strive Masiyiwa’s net worth currently sits at a staggering US$1.5 billion. However, it wasn’t enough to place him in even… Continue reading JUST IN: Strive Masiyiwa featured in the Forbes Billionaires 2021 list
Companies using informal sector rates are funding smuggling says Eddie Cross
Two years ago, the new Minister of Finance in Zimbabwe brought together a small group of local business persons in an informal advisory group. I was privileged to be included. Our meetings were irregular, largely driven by the Ministers need for a sounding board against which he could bounce ideas and problems. The great thing… Continue reading Companies using informal sector rates are funding smuggling says Eddie Cross
ZIMRA to monitor Beitbridge border with $2 million drones
Dubious dealings and smuggling at the country’s borders are increasingly getting out of hand. Resultantly, the Zimbabwe Revenue Authority (ZIMRA) has decided to procure drones worth US$ 2 million to combat this problem. No, this is not just an idea that is yet to be considered. ZIMRA has expressed that these plans are already at… Continue reading ZIMRA to monitor Beitbridge border with $2 million drones
Mthuli Ncube addresses increase in bank withdrawal limit
As a move to combat the black market, the Treasury chief and the Reserve Bank of Zimbabwe(RBZ), last year decided to put a limit on the amount of money can be withdrawn. The then established bank withdrawal limiting was placed at $2000. This limit was therefore unsatisfactory to a number of citizens who wanted the… Continue reading Mthuli Ncube addresses increase in bank withdrawal limit
Bread prices have risen
The price of a standard loaf of bread has increased. The President of the National Bakers Association(NBAZ), Dennis Wallah, has associated the price rise indicated by Bulawayo retailers with the increase in prices of production and distribution costs. This increase in costs was attributed to the rise in fuel prices and utility charges. Wallah shared… Continue reading Bread prices have risen
New Delta Beverages CEO announced
Delta Beverages has appointed a new CEO. This follows the retirement of Mr Pearson Gowero who served as the CEO and director of the company from June 2012. He joined the group in March 1997 in the marketing division at Chibuku Breweries. Gowero steps down on 30 June 2021 and will be replaced by Matlhogonolo… Continue reading New Delta Beverages CEO announced
2021 REPORT: Zimbabwe’s Agricultural Sector
John Basera, Permanent Secretary and minister of Lands, Agriculture, Fisheries, Water & Rural Resettlement gave an overview of agricultural and horticultural yields in 2021. He shared insights on the farming sectors including, the traditional grains, livestock condition, tobacco, cotton and maize. Basera shared the following on a twitter thread on his page: “Traditional Grains… Continue reading 2021 REPORT: Zimbabwe’s Agricultural Sector
Aljazeera producing documentary on rural Zimbabwean chicken farmer
A village based road runner rearer who’s story was covered by ZTV last month, has now caught the attention of Aljazeera. Haru Mutasa, a Zimbabwean broadcast journalist and her Aljazeera team were in the young man’s farm in Mhondoro Ngezi.. The road runner farmer, Terrence Maphosa has boasted of helping the community as he has… Continue reading Aljazeera producing documentary on rural Zimbabwean chicken farmer
WATCH: Caledonia Mining CFO expresses discontentment over high gold production
Mark Learmonth, the Chief Financial Officer of Caledonia Mining PLC expressed his discontentment with the company’s record gold production of 58 000oz. The company, Caledonia Mining plc is a mining, production and exploration company focused in Zimbabwe. Caledonia’s primary asset is a 64% interest in the Blanket Mine (“Blanket”) in Zimbabwe. Watch Caledonia’s CFO, Mark… Continue reading WATCH: Caledonia Mining CFO expresses discontentment over high gold production
Prominent businessmen take on ZRP in property fight
Assistant Inspector Cain Muchingami of the ZRP Commercial Crimes Unit was allegedly involved in a messy and unlawful property takeover. The rightful owners of the property are said to be Nyasha Watyoka and Gilbert Muponda, who are also very prominent Harare businessmen. The duo was staying out of the country during the time their prime… Continue reading Prominent businessmen take on ZRP in property fight
Nash Paints’ owner taken to court over US$27k
The owner of Nash Paints, a leading paint manufacturer in Southern Africa. The company has over 20 branches in Zimbabwe. The businessman Tinashe Mutarisi, who is also the executive founder of the company, runs another business trading as Nash Furnishers. This venture was responsible for landing him in court. This occurrence resulted from the rental… Continue reading Nash Paints’ owner taken to court over US$27k
Diamonds to be proccesed in Zimbabwe?
The problem currently being faced in Zimbabwe is that one of the country’s major diamond buyers,Tiffany & Co, no longer sources diamonds from Zimbabwe as a result of human right’s concerns. Tiffany & Co is the leading American luxury jeweler. This highlights just one of the problems that cause Zimbabwe to not realize the full… Continue reading Diamonds to be proccesed in Zimbabwe?
Magaisa critics the RBZ Forex Auction beneficiaries list. Are we being sold a dummy?
The RBZ released a report that revealed the beneficiaries of the RBZ Forex Auction. As expected the report was met with much criticism. Alex T Magaisa, ‘former adviser of a PM OF Zimbabwe and to the constitution making team,’ shared the following remarks: “The Reserve Bank Of Zimbabwe announced a list of what it called… Continue reading Magaisa critics the RBZ Forex Auction beneficiaries list. Are we being sold a dummy?
Wondering who is benefiting from the RBZ Forex Auction? Here’s a list.
The RBZ Foreign Auction is a system that came into play starting on June 23 2020. This system serves the purpose of improving transparency and efficiency in trading of forex in Zimbabwe. To prove the effectiveness of this system, Zimplats managed to use it to reduce foreign exchange losses by a staggering $5.5 million. However,… Continue reading Wondering who is benefiting from the RBZ Forex Auction? Here’s a list.