Acting President Retired General Constantino Chiwenga met South African businessman Robert Gumede at his Munhumutapa offices in Harare today.
According to reports by The Chronicle, Gumede is willing to invest $1,2 billion in sectors such as energy, health, tourism and infrastructure development.
In an interview at Robert Mugabe International Airport yesterday, Gumede said he is optimistic that they are investment opportunities under President Emmerson Mnangagwa’s administration. Read more
THE Ministry of Transport and Infrastructural Development plans to buy three Embraer ERJ145 aircraft for Air Zimbabwe at a cost of US$6 million and lease two other similar aircraft which will ply routes in southern Africa as part of a 100-day work plan approved by cabinet, the Zimbabwe Independent has learnt.
After taking over the reins of power last month, President Emmerson Mnangagwa tasked every minister to come up with at least three specific and measurable economic projects with a 100-day turnaround period. Read more
Its just 10-days into the new year and according to Bloomberg‘s billionaires list, Facebook founder Mark Zucckerberg has already made $4 Billion.
The report says, ‘major market indices are up 2% year-to-date, continuing the major stock gains of last year. Among those profiting from the continued stock surge is Facebook CEO Mark Zuckerberg. Read more
Former Netone chief executive officer Reward Kangai has been arrested and is detained at Avondale Police Station in Harare.
Kangai’s arrest comes barely a week after he wrote a letter to President Emmerson Mnangagwa to launch an investigation into Information Communication Technology and Cyber Security Minister Supa Mandiwanzira on allegations of criminal abuse of office or corruption.
In his letter, Kangai accused Mandiwanzira of acquiring Telecel Zimbabwe to benefit the minister and former first lady Grace Mugabe at the expense of the public. Read more
University of Zimbabwe economics professor and Senior Advisor of the Strategic Economic Research Program Professor Ashok Chakravarti has advised the government to either adopt the Sout African Rand or to reintroduce the Zimbabwean dollar.
Chakravarti argued that the foreign currency crisis and the cash crisis could not be resolved while using United States dollars.
Speaking at a post-budget seminar for MPs, Chakravarti said:
We cannot have a new economic order sustained by someone else’s currency, and so we need our own currency, and there are two solutions to it of which one is to adopt the currency of our main trading partner, which in our case is South Africa, and adopt the rand informally in the same way we adopted the US dollar in 2009.
Zimbabwe: Mobile network operator Econet Wireless has applied to the Zimbabwe Energy Regulatory Authority (ZERA) to construct its own photovoltaic (solar) power plant. Zera is inviting those interested in making any presentations on the application to do so within 14-days.
NOTICE OF APPLICATION FOR AN ELECTRICITY GENERATION LICENCE • Econet Wireless (Private) Limited
Electricity Act (Chapter 13:19) of 2002
Notice is hereby given that the Zimbabwe Energy Regulatory Authority (ZERA) has received an application from Econet Wireless (Private) limited to construct, own, operate and maintain the proposed 0.45 MW rooftop solar photovoltaic power plant at 8 Earl Road, Willowvale, Harare. Read more
President Emmerson Mnangagwa has said that his administration will not introduce price control legislation as a measure against price increases. He however appealed to retailers to be considerate and desist from profiteering.
The President said:
I had a meeting yesterday with the Minister of Industry (Commerce and Enterprise Development) Dr Bimha (and directed him) to call the manufacturers, sellers and retailers and discuss with them. Read more
Amazon CEO Jeff Bezos is now worth $100 billion, all thanks to Black Friday sales.
The Amazon founder reached the 12-digit milestone for the first time, according to Bloomberg.
He surpassed Bill Gates on the Bloomberg Billionaires Index, advancing almost $11 billion past the Microsoft co-founder. Bezos is the first person to reach a net worth of over $100 billion since Gates in 1999. Read more
Addressing journalists in Mutare on Sunday, Supa Mandiwanzira said Zimbabwe’s mobile phone penetration had hit 95%.
He however said that the number was unreliable since a number of people have two or three mobile lines each.
Mandiwanzira also said that the previous Cabinet approved a project to build 650 telecommunication towers in remote areas using resources from the Universal Services Fund. Minister Mandiwanzira said:
I think it is important first to give a picture where we are going in terms of mobile penetration. Read more
The price of cryptocurrency, bitcoin, continues to rise in Zimbabwe as investors and the general public continue looking for means of preserving their wealth.
On Monday the price of Bitcoin reached a high of $17 875 on the local exchange, Golix.
This is almost double the highest price for Bitcoin on the US market (at the time of publishing) of $10 022. Read more