Tuesday , 30 September 2014
You are here: Home / News

Category Archives: News

Rooney adamant Man United can still be successful

WAYNE Rooney has promised that Manchester United’s current squad will be successful despite their sluggish start to the season and has questioned those who have written Louis van Gaal’s team off after a 5-3 defeat at Leicester, where they had led 3-1. The United captain responded to his team’s critics via his Facebook profile on Tuesday night, saying that the ... Read More »

Medical aid societies in crisis

Dr Paul Chimedza, deputy minister of Health, was one of the key speakers at the Association of Health Funders of Zimbabwe conference recently.

ZIMBABWE’s medical aid societies are slithering into bankruptcy due to escalating medical aid claims, with a recent hike in tariffs ordered by government likely to worsen their already precarious position, industry players warned. The situation could affect at least 1,6 million Zimbabweans who still depend on medical aid, a form of insurance that protects individuals financially should they be in ... Read More »

Tsvangirai backs Mashakada


MDC-T president Morgan Tsvangirai is battling to control fissures within his party after trusted lieutenants successfully lobbied against proposals to entrench his powers through constitutional amendments, the Financial Gazette can report. MDC-T insiders said party vice president, Thokozani Khupe, organising secretary, Nelson Chamisa, and spokesman, Douglas Mwonzora, had masterminded the rejection of the proposals, triggering consternation among Tsvangirai loyalists who ... Read More »

Mozambique snubs Zim


MOZAMBIQUE has snubbed Zimbabwe’s proposal to construct a second petroleum pipeline, a government official has revealed, saying the move has undermined plans to augment the existing pipeline which no longer has the capacity to adequately supply fuel into the country. The plan was to construct a second pipeline from Savanna, 50 kilometres north of Beira, Mozambique, to Zimbabwe. The proposed ... Read More »

NRZ strike unsettles investors


STRIKE action at the beleaguered National Railways of Zimbabwe (NRZ) could undermine progress in the procurement of a US$460 million loan from the Development Bank of Southern Africa (DBSA) meant to revamp the country’s dilapidated rail network infrastructure, the Financial Gazette can report. Earlier this month, workers from the NRZ across the country went on strike in protest over unpaid ... Read More »

Chiefs get their pound of flesh

Chief Charumbira

GOVERNMENT is to buy traditional chiefs brand new vehicles at a total cost of US$10 million and hike their monthly allowances by nearly 170 percent with effect from this month, despite grappling with a calamitous liquidity crunch. The move follows pressure from the traditional chiefs, the bedrock of President Robert Mugabe’s support, for ZANU-PF to honour its election promises to ... Read More »

ICAZ mourns Eric Bloch

THE Institute of Chartered Accountants of Zimbabwe (ICAZ) has mourned the death of Eric Bloch, a renowned financial, management, taxation and economic consultant. A qualified Chartered Accountant and past president of ICAZ (2005-6), Bloch, who had a long and illustrious career, died on September 20 at his home in Khumalo, Bulawayo. Bloch also served in various ICAZ committees including council, ... Read More »

Mayor Manyenyeni’s crucibles


Harare Mayor, Bernard Manyenyeni (BM), has had a turbulent tenure at the Harare City Council, where he has often clashed with management and Local Government Minister Ignatius Chombo. The Financial Gazette’s News Editor, Maggie Mzumara (MM), caught up with Manyenyeni to discuss his challenges and issues around management of the capital city. Below are excerpts from the interview. MM: A ... Read More »

Cairns Foods stages comeback


CAIRNS Foods, a unit of suspended Zimbabwe Stock Exchange (ZSE)-listed food manufacturing firm, Cairns Holdings Limited, is set to double output for baked beans products from its Mutare plant to meet increasing local demand, an official indicated recently. This comes as it emerged that competition from cheap imports, which had exacerbated its woes, had waned, with speculation suggesting cumulative measures ... Read More »

Editorial | Govt turning screws

THE economy is now in free-fall. This much was confirmed by Finance Minister Patrick Chinamasa when he presented his mid-term fiscal policy statement a fortnight ago. Chinamasa’s budget did not take into account the difficulties the country’s hard-pressed population is facing — there was no tax relief for the struggling working population or reprieve for the grappling-to-survive industrial sector. Our ... Read More »