Business
Government to review indigenisation laws: Obert Mpofu
Zimbabwe Mines Minister Obert Mpofu on Friday said government will review laws compelling foreign-owned firms to transfer majority shareholding to indigenous Zimbabweans, in a bid to attract much needed investment. The southern African country’s indigenisation laws restrict foreign companies to a maximum of 49 percent stake of a business with the remainder reserved for... »
Biti says revenue inflow rises to US$70m
Government revenue has gradually risen to US$70 million in June while the economy has grown by 1,1 percent between January and April as the country continues to stagger through the decade long recession. Finance minister Tendai Biti told investors at a conference in Harare yesterday that revenue collected from taxes has jumped from US$66,8 million... »
New IMF mission in Zimbabwe
HARARE (AFP) — The head of an International Monetary Fund team arrived in Zimbabwe on Monday to assess the coalition government’s economic policies and the country’s still enormous humantarian needs, officials said. “The IMF staff mission will look into the country’s economic performance since the setting up of the incluisve government in February,” an official... »
Bank under probe
THE police’s Criminal Investigation Department (CID) Fraud Squad is believed to be investigating allegations that Trust Bank Corporation externalised at least £500 000 (about $1 billion at parallel market rates) to off-shore accounts in Europe, The Daily News has established. According to documents made available to this newspaper, Trust entered into an arrangement with Bract Investments Limited, a company registered... »
High Court grants Odzi farmer bail
The High Court in Harare yesterday granted bail to Odzi farmer, Philip Bezuidenhout. Bezuidenhout, 51, faces a charge of murder after he allegedly struck and killed Febian Mapenzauswa, 31, on 15 July with his vehicle. Mapenzauswa had just been resettled on Bezuidenhout’s Tara Farm in Odzi. Justice Michael Gillespie ordered the farmer to deposit... »