South African Businessman keen to invest $1.2 Billion in Zimbabwe

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

Air Zim set to acquire new aeroplanes

Image result for air zimbabweTHE 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

Former NetOne CEO Reward Kangai Arrested

Image result for reward kangaiFormer 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

Adopt the Rand or Re-introduce the Zimbabwean Dollar: Prof Chakravarti

Image result for Prof Chakravarty, zimbabweUniversity 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.

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Econet applies to ZERA to construct its own Power Plant

Image result for econetZimbabwe: 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

We need an understanding with retailers and manufacturers to curb profiteering – President

Image result for mnangagwaPresident 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

Wow!!! Amazon CEO Jeff Bezos is now worth $100 billion thanks to Black Friday boomAmazon 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

Zimbabwe’s Mobile Penetration hit 95%, Govt to build more base stations

Image result for supa mandiwanziraAddressing 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.

Image result for mobile in zimbabwe

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

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