In this week's issue
*Crunch talks on 99-year leases
*ZSE courts more REIT counters
*Govt to abandon fx auction system
*Economy rallies towards full dollarisation
*Zim, AfDB make progress on ex-farmers deal
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MDC Alliance leader stands among the crowds after he failed to get a seat among the dignitaries at the burial of in Madziva this afternoon. Initially, some officials tried to block him from entering the homestead! Pic credit
Former President Robert Mugabe being cheered by the crowds just before he cast his vote at Mhofu Primary School in Highfield.
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Former minister Tendai Biti said the Zimbabwean economy should not be run in an amateurish way and called for immediate dollarisation among a plethora of measures to stop the bleeding
MDC Alliance president arrives in Madziva while Defence minister Oppah Muchinguri is reading a speech on behalf of the President.
"Dai tikambonyarara tinzwe zvirikutaurwa", she says.
Schweppes Zimbabwe Limited, has stopped producing its flagship cordial drink, Mazoe Orange Crush. READ MORE: bit.ly/34dj2bs
PHD members celebrate after Magaya claims to have found the cure for HIV and Aids in partnership with some Indians. "God has given me a revelation, we tested it and its perfect. God showed me a certain tree, certain people. We have found the cure for HIV and aids"
#BTPrint Richard Williams, father to tennis greats Venus and Serena, is heading to Zimbabwe for coaching clinics and promotional work for the Zimbabwe Tourism Authority (ZTA), businesstimes.co.zw/williams-comin
#Banking #Agriculture businesstimes.co.zw/metbank-splurg Metbank has partnered with Grain Millers Association of Zimbabwe (GMAZ) to import wheat worth more than $200 million from Canada to supplement stocks which are fast running out.
THE World Bank has listed #Zimbabwe among its top 20 reformers in doing business for 2020, alongside Kenya, Nigeria, Djibouti and Togo.
Ngoni Mazango of on behalf of the Innscor Africa group hands over 100t of Roller Meal, 10000 loaves, 2t of canned meat, 2000 eggs but more eggs will be given. 1.5t of sugar beans, 1t jam, 3000litres of long life milk, 4t of rice and 1050 hampers
Mutsvangwa: With immediate effect the following are to be temporarily imported using free funds: (incomplete list)
Animal oils
Body creams
Bottled Water
Cement
Cereals
Cheese
Coffee creamers
Cooking oil
Crude soya bean oil
Wheat flour
Ice-cream
Packaging material
Pizza base
Sugar
#Breaking Zimbabwe's sprinter Ngoni Makusha has qualified for Men's 100m first round after winning the preliminary round with a time of 10.32 seconds.
"Facebook took 7yrs to develop a revenue model. YouTube took 9yrs. Whatsapp still doesn't have one. Africa is very harsh on our entrepreneurs"
#2018NEF
Cassava makes history, enters the Zimbabwe market at $3.8 billion businesstimes.co.zw/cassava-makes- via @CassavaSmartech
#BTPrint
Out today.
-Only 12 days left of coal supply among the coal producers.
-US$740m trades on interbank market
-Diesel consumption up 20% daily as RBZ raises red flag on forex demand.
Zimbabwe’s plan to seek an emergency financial package from South Africa suffered a big blow after the region’s economic powerhouse cited budgetary constraints as it prepares for its next general elections in May. businesstimes.co.zw/no-south-afric via
The has appointed Zimbabwean national and ex-Old Mutual CEO Jonas Mushosho to head its new insurance arm as the trade finance bank seeks to provide specialty insurance solutions on the continent
#Breaking High Court judge Justice Amy Tsanga rules the man who recalled from Parliament, Benjamin Rukanda, is not the secretary general of PDP.
A crackdown against foreign currency dealers will be rolled out in a few days and is expected to leave top executives in banks, companies and State institutions behind bars. businesstimes.co.zw/bigwigs-to-sin
It's not sustainable for a small economy, whose GDP is less than that of a street in New Jersey, to sustain the US dollar as an internal payments system, especially where direct trade with the USA is under 3%. businesstimes.co.zw/re-dollarisati
Zimbabwean human rights lawyer Nyaradzayi Gumbonzvanda has been appointed to an External Group that advises IMF Managing Director Kristalina Georgieva. imf.org/en/News/Articl
#EDCabinet2018
responding to a question posed about Kirsty Coventry's appointment when she has never been involved in politics, "who was ever born in the corridors of power?"
#RipTuku #DhukuForTuku AB Communications CEO , who is also National Arts Council board member wearing a #DhukuforTuku
Novelist, playwright and filmmaker Tsitsi Dangarembga @efie41209591 is the winner of the PEN Pinter Prize 2021. She will receive the award at a public ceremony on 11 October in partnership with
Tuku's first wife Melody said they were deeply in love with her husband until he came up with a suggestion to have a second wife. She said when she packed her bags to leave the house in Eastlea Tuku locked the doors for a week but it failed to work.
The Institute of Chartered Accountants in England and Wales (ICAEW) has appointed Zimbabwean chartered accountant Tinashe Rwodzi to its Africa Members Advisory Board businesstimes.co.zw/icaew-appoints via
It's our first anniversary today. The editor , her deputy and all staff at BT, thanks everyone for their support even in this challenging economic environment.
Our award winning photojournalist is in London for the next few weeks for the @IanParryScholar exhibition where his work will be exhibited. #BTinLondon
Chamisa: I fully understand the pain that Zimbabweans are experiencing. I get calls daily from citizens asking for solutions, asking for the way forward. The reason they call me is because I'm the person they voted for. I am their guy. Not Mnangagwa.
The Resource Estimate for Muzarabani Oil now out.
1. Maiden Prospective Resource estimated at 3.9 Tcf and 181 million barrels# of conventional gas / condensate (gross mean unrisked)
2.Resource potential determined by petroleum consultancy Netherland, Sewell and Associates, Inc
Charismatic preacher and prophet Walter Magaya announced today that he has found the cure for HIV/Aids. Press conference to be held shortly.
@twimboz
Zimbabwe has set a November 2019 deadline to clear nearly $2 billion arrears owed to the World Bank and the African Development Bank, Finance minister has said. businesstimes.co.zw/3847-2/
#ConCourt Adv Mpofu: "If you go to the residue, you will drink from a poisoned well." CJ responds: "But we want to drink from it," he continues, "you are making a mistake. The constitutional court must make a decision based on all the evidence." #ElectionPetitionZW
Magaya: I have bought many machines for CD4 count, viral load count machines, because I have a clinical licence. I am building a laboratory, which could be the biggest in Africa.
@twimboz
#Output Zim's maize for the 2021/22 marketing year estimated at 2.7m will be the largest corn crop since the 1984/85 marketing year, according to a report by
@MoLAFWRR_Zim
Daisy Mtukudzi: I want to thank the President for giving my husband the honour. Music inonzi ndeye chirombe. Murume wamuri wamuri kuona uyu i used to call him Dee. He took care of me from day 1; ours was true love. Love hainyorwe muma newspaper.
Magaya: I know the world will deny it but they will eventually agree. I have tested it fully on human beings and a lot of these human beings have gone negative.
Cabinet has approved the amendment to the Zimbabwe Citizenship Bill which will pave way for dual citizenship for citizens by birth especially those in the Diaspora. businesstimes.co.zw/diasporas-to-g via
Vote of thanks being given by Shingi Mutasa. "As business we are committed, we believe in this country and we believe we have the skillsets to build this economy. We as Zimbabweans are going to build this economy, not foreigners"
#CabinetBriefing Gvt intends to modernize the Bietbridge Border Post at a cost of $231million. The improvement of the Hre-Beitbridge highway will be done in 2 phases with the first phase to be completed in three years and the road will be similar to the N1 in SA.
#BTPrint Platinum’s Unki Mine’s $60 million smelter facility at Shurugwi has come online with the first matte having been tapped from the new smelter last month. businesstimes.co.zw/unki-completes
Zim’s fuel rebate dilemma as there's growing mistrust over Govt's ability to refund VAT with ZIMRA saying the tax collector owes $100m refunds. In such a scenario, business would rather increase prices than wait for +180-days businesstimes.co.zw/zims-fuel-reba
Zimbabwe’s female motocross rider, is turning heads at the Bartow Champions
Zimbabwe is expecting to harvest close to 300,000 tonnes of wheat following an increase in hectarage and uninterrupted power supply throughout the season
@MoLAFWRR_Zim
Guvamatanga: We know what needs to be done. But some of the those things can't be done now. We are here today because we lived beyond our means. We then created money in the market. We have now closed the tap. #BudgetZW #PostBudgetZW
In an extraordinary Govt Gazette Friday, minister publishes terms on the loans #Zim got from . In Dec, the High Court gave Ncube up to Jan 30 to publish the term
Zimbabwe has appointed veteran banker Marc Holtzman as the inaugural chair of the Victoria Falls International (Offshore) Financial Services Centre, minister Mthuli Ncube said in a statement Tuesday
The said it was engaging lawyers to reclaim from the government over ZWL$2bn of its devolution allocation that was used to pay Geogenix BV as the battle for the control of the dumpsite climaxes
Parliament has cancelled hearings by its Public Accounts Committee (PAC) after Zanu-PF MPs insist they will not recognize Tendai Biti until MDC MPs recognize President Mnangagwa. READ MORE: businesstimes.co.zw/?p=7742
The (RBZ) will introduce new Zimbabwe notes in November this year, a development which is expected to end the long queues at the banks, says Eddie Cross, a member of the RBZ’s Monetary Policy Committee.
#BusinessInTheCommunity @SeedCoGroup donated 60 tonnes of mealie. 30t for Chimanimani and 30t for the other #CycloneIdaiZW affected provinces. Quton donated blankets, matemba, cooking oil and sugar beans.
Central bank governor John Mangudya sues Zanu PF Youth League deputy secretary Lewis Matutu for defamation damages of ZWL$ 1mln
Musician #OliverMtkudzi has been laid to rest at his rural homestead in Madziwa this afternoon. Photos by : #RIPTuku #RIPOliverMtukudzi
Govt has largely chosen to act on symptoms such as multi-tier pricing, inflation rate, cash shortages, labour demands, commodity shortages especially fuel, cooking oil and grain without addressing the real fundamentals.. businesstimes.co.zw/can-currency-r
Zimbabwe Electricity Transmission and Distribution MD Julian Chinembiri together with his finance director Thoko Dhliwayo have been arrested over a $35 million corruption scandal involving an Indian firm called PME.
businesstimes.co.zw/zetdc-executiv
A Zimbabwean agripreneur has been selected among the 25 finalists vying for top prizes in the US$140,000 2022 AgriPitch Competition
#Appointment On African Youth Day, the African Union Commission has appointed Zimbabwean as the new Youth envoy. She was selected following a rigorous recruitment process of hundreds of applicants, say
#Powerboost The has approved a US$310m loan facility to finance the extension of lifespan of Hwange Power Station, to ensure electricity generation capacity.
#BTPrint Zim’s gold deliveries for the first 10 months of the year earned the country $1,1 billion in foreign currency receipts. This comes as deliveries surpassed the all-time record achieved nearly two decades ago at 30,3 tonnes. businesstimes.co.zw/zim-bullion-ea
#ConCourt Adv. Mpofu: A declaration is based on a figure. If the figure is wrong then that declaration cannot be correct. #ElectionPetitionZW
The family foundation of Econet founders Strive and Tsitsi Masiyiwa has committed an additional US$60 million towards the cholera response in Zimbabwe.
#BTLife Veteran author Charles Mungoshi has died. He died this morning at Chitungwiza Hospital after a long illness...
The says Zimbabwe should introduce interest bearing assets to mop excess liquidity and wind down the use of gold coins to “sustainably anchor economic growth”
#Addition Low cost carrier has added a third Embraer ERJ145 aircraft to its Zimbabwe-based fleet. The aircraft was introduced into commercial service Friday on the Harare-Bulawayo route
@METHI_Zimbabwe
#BTPrint A key member of President Donald Trump’s Republican party has expressed hope that sanctions imposed on Zimbabwe by the Washington administration would be lifted soon. businesstimes.co.zw/republican-sta
"""A boy who does not travel will always think his mother is the best cook in the world.""
Relate to Zimbabwe
Replying to
still to be seated and he is among the crowds without a seat!
AFDB calls for liberalised exchange rate; Zim economy to grow 4.2% in F19 businesstimes.co.zw/afdb-calls-for via
President is currently touring the Delta Lagers Manufacturing Plant in Manchester, Southerton.
Hawkins: You cannot have a command economy and be open for business. It needs to be one or the other. Adding to that, the longer we leave the exchange rate as it is we will be running a parallel economy. The state also needs to shrink in size. #CEORoundTable
#CabinetBriefing Govt has withdrawn licences of fuel suppliers who were found on the wrong side of the law. Govt has established an industrial fund that will retool industry.
#Surety Zim issues guarantee on a US$750K loan issued to Luxaflor Roses by CBZ Bank. The loan will finance procurement of raw materials for production and export of roses
Zim, to sign $1.5 billion Zim Open facility to guarantee foreign investments and nostrils stabilisation. Happening now in Cairo, Egypt.
#ThrowbackThursday 4 months ago Business Times was launched. Where do you think we can improve as we move forward? #BTPrint #BTOnline
The has been shut out of key decisions that affect the country’s economic policies with existing laws giving more powers to the President and the Finance Minister, it has emerged
President has appointed Priscilla Misihairabwi-Mushonga as Zim Ambassador to Sweden. He has also appointed Lovemore Mazeno and Alice Mashingadze as Ambassadors for UAE and Germany respectively
In this week's issue:
*Pilots flag Zim's airspace
* Industry confronts govt
* Mutandagayi leaves ZB
* Zim risk ILO rap over salaries
* Ecobank guarantees ZESA imports
* An interview with Adam Molai
#BTPrint A Munich-headquartered construction equipment manufacturer, Wacker Neuson Group, is set to open shop in Zimbabwe through a partnership with Pelgin Consultancy Services. businesstimes.co.zw/wacker-neuson-
ED: The days when govt made decisions without consulting the private sector our now behind us. In this new administration dialogue is important.
Prof Tony Hawkins: There's no way the economy is going to be an upper middle income country by 2023. You cannot invest money you don't have, you have to have savings. Our savings were wiped out in 2007/2008. #CEORoundTable
IMF says Zim has subsidised fuel on a large scale in recent past. This was, however, not done in a transparent manner, as it was not reflected in the budget despite the budget eventually having to pay for it. businesstimes.co.zw/zim-getting-cl
Your net worth is the value of your network. Fancy an opportunity to be connected to high net worth individuals? Post a pic of you reading tmrw's edition of BT, tag us & stand a chance to win lunch with a top exec & Zim's only female Editor. #BTFriends
More pics from funeral wake And Thomas Mapfumo
leader
says his party remains solid and undaunted and Zimbabweans know know the difference between a genuine opposition and a regime enabler as he takes a potshot at led
‘New Binga-Karoi highway a game-changer’
All the way along Kariba there is potential for tourism, but the biggest issue is that Kariba is not really functioning as a destination because you can’t get in by air. businesstimes.co.zw/new-binga-karo
The most significant aspect of price formation to remember is that beyond a certain threshold, inflation generates a life of its own, it gains a long memory, or in macroeconomic parlance, a non-stationary drift trend businesstimes.co.zw/inflation-head via
