ENG Capital a financial institution registered in Zimbabwe was dramatically closed down in 2003-4 following spurious allegations of being under capitalised, has now fully paid out all claims according High Court records obtained by The Zimbabwe Metro. This comes as a surprise given how there were widespread allegations
Zimbabwe’s biggest global festival Zimfest received a timely boost when telecoms Giant Econet agreed to become a headline sponsor for the event through their new UK MVNO operation Econet Wireless UK. The recently agreed package will see Econet Wireless UK granted exclusivity as telecoms partner to the event and will open up a number of cross selling opportunities for the two organisations.
Zimbabwe’s central bank said on Friday it would intervene to force banks to slash “punitive” lending rates of as high as 50 percent that are partly blamed for slowing economic recovery.
Econet Wireless, Zimbabwe’s largest mobile phone operator, has taken the government-owned mobile firm Net*One to the High Court over a US$9 million debt.
Youth Development, Indigenisation and Empowerment Minister, Saviour Kasukuwere has encouraged Zanu PF youths in Matabeleland to seize all foreign owned mines in the region.
ZIMBABWE’S export sector, in particular mining, could recover quickly and provide much needed fiscal revenues to a cash-strapped government battling large external obligations, an International Monetary Fund (IMF) paper has revealed.
However, it would still be impossible to bring part of the mineral revenues forward to settle external payments arrears and achieve a sustainable balance of payments position
Foreign exhibitors shunned the annual Mine Entra being held here, with some of them citing the controversial Indigenisation Law.
Zimbabwe would like to have all alluvial diamond mining conducted by the state, Finance Minister Tendai Biti said on Wednesday.
“There is consensus in government that there has to be a new Diamond Act that says alluvial diamond mining in Zimbabwe be conducted by and through the state
THE London Stock Exchange-listed mining concern African Consolidated Resources (ACR) says the sale of the disputed Marange diamonds can go ahead provided government meets certain conditions.
THE Reserve Bank of Zimbabwe (RBZ) tapped into the international reserves backing the statutory reserves of banks and sold its shares on the Zimbabwe Stock Exchange to finance its operations from January last year to March this year without board oversight, a report by the International Monetary Fund (IMF) shows
