AfrAsia Bank Zimbabwe closed on Tuesday after its shareholders retreated due to the bank’s huge liabilities of more than US$100 million, low capitalisation levels and a damaged reputation stemming from a costly legal wrangle.
ETHANOL producer, Green Fuel has failed to justify its existence despite enjoying massive hand-holding from government in the form of a protected monopoly as well as laws requiring the mandatory blending of petrol with 15% ethanol, parliament has revealed.
WITH the way events are panning out in the fractious Zanu PF party, it is becoming increasingly clear President Robert Mugabe’s wife Grace is now not only in charge of the party as her husband grows older
VICE-president Emmerson Mnangagwa says government is in the process of realigning indigenisation laws — widely deemed as a barrier to the much-needed foreign direct investment — as they currently lack clarity and consistency, among other shortcomings.
THE dismal state of Zimbabwe’s roads is costing motorists an average of US$1 000 a year on repairs due to damages caused by potholes prevalent on the roads, some which can easily be mistaken for craters, the Zimbabwe Independent has found out.
THE University of Zimbabwe (UZ) has chucked out more than 2 500 students at the institution for failure to pay full tuition fees leaving the students stranded, Zimbabwe Independent has learnt.
THIRTY-FIVE-year-old Loveness Muchenje, one of the many street vendors who have swarmed the streets of Harare’s chaotic central business district (CBD) in search of means of survival, struggles to maintain the balance between aggressively marketing her wares lined up along a Julius Nyerere Way pavement to potential customers and keeping an eye on her three-year old daughter
THIS month marks six years since Zimbabwe adopted the multi-currency monetary system, popularly referred to as dollarisation, in response to the chaotic hyperinflationary period that had defined the country’s economy for almost a decade prior to February 2009.
THE spate of job losses in 2014 through retrenchments and company closures could worsen in this year if early indications of the number of companies that have already implemented survival strategies that include paying half monthly salaries and forced unpaid leave for employees this year are anything to go by.
THE Reserve Bank of Zimbabwe (RBZ) Debt Assumption Bill sailed through the second reading stage in parliament last week after a heated and acrimonious debate along party lines.