HARARE – Finance minister Patrick Chinamasa has said shortages of cash reflect the mismatch of US dollars in bank accounts and physical cash in the economy. Physical cash is comprised of US dollars, bond notes and other currencies in circulation in the country. “This cash shortage reflects the negative perennial trade imbalance wherein our imports…
HARARE – Work to upgrade and add more lanes to the 900km highway from Beitbridge on the border with South Africa to Chirundu on the Zambian border will begin this month, Transport minister Joram Gumbo has told the Senate. Gumbo said surveyors were working on segments of the road which have been divided into six…
HARARE – The bodies of three illegal miners were recovered in the Marange diamond fields last month amid a fresh diamond rush, Mines minister Walter Chidakwa has told the Senate. Chidakwa told senators on Thursday that the government is struggling to maintain peace in Chiadzwa. “The diamonds are not easy. Everyday you can expect to…
HARARE – The mooted grand coalition of opposition political parties has been hit by severe turbulence, with observers saying it could suffer a stillbirth owing to disagreements on the implementation of the complex arrangement that many believe is the only way to end Zanu PF’s over three decades in power. The opposition has been dogged…
HARARE – Zanu PF could be headed for a devastating split ahead of the tricky 2018 synchronised elections, laden with tribal rumblings among party faithfuls belonging to minority Shona tribes, the Daily News can report. Indicative of the noxious fallout between hitherto comrades-in-arms in Zanu PF was Vice President Emmerson Mnangagwa’s uncharacteristic weekend speech, daring…
HARARE – Cabinet has directed the Grain Marketing Board (GMB) to accept grain from farmers in an open and transparent manner, following reports that people were actually paying to get their grain accepted by the country’s granary. This comes amid reports that some grain was rejected in order for the farmers to pay a small…
HARARE – A 16-year-old boy has been arraigned before the courts on allegations of participating in a demonstration that rocked Harare city centre last Friday. Thomas Chihuri, 16, was jointly charged with Gibson Mavhunga, 48, when he appeared before Harare magistrate Josephine Sande. The duo is being charged with public violence. According to the State,…
HARARE – Government is worried that artisanal gold miners who are paid $5 million weekly in US dollars and bond notes for their export incentive could be abusing the cash they are being paid by Fidelity Printers and Refiners and by banks. Fidelity Printers and Refinery is a unit of the Reserve Bank of Zimbabwe…
HARARE – Zimbabwe has reduced the number of roadblocks on highways, Home Affairs deputy minister Obedingwa Mguni has told the Senate. “As policy makers, we sat down together with the police and we established legislation that there should be four roadblocks per province. We are talking about roadblocks with each and every equipment and material…
HARARE – Salaries are being badly eroded in values due to devastating inflation, which has soared to 242 percent, according to a leading economist Steve Hanke. Zimbabwe Congress of Trade Unions (ZCTU) secretary-general Japhet Moyo told the Daily News yesterday that the high level of inflation means most workers’ wages will not go as far…
