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.

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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

Govt relaxes import restrictions on basic commodities ahead of festive season

Industry Minister Mike Bimha announced that they are relaxing import restrictions on basic commodities ahead of the festive season. He said that his ministry is ready to process permits and licences for those that have funds to import basic commodities.

Said Bimha:

What we would want to announce today is that, we want to call upon companies and individuals who have free funds to import basic commodities and my ministry is ready to process permits and licences to that effect. Read more

Zesa Notice Of Power Shutdown on Sunday


Planned Shutdown

We would like to notify our valued clients in the areas listed below of a power supply interruption on Sunday, 12 November 2017 from 0800 – 1800 hrs for the purpose of carrying out maintenance works.

Below is a list of the areas which will be affected; –

Borrowdale Central, Borrowdale West, Part of Vainona, Rolf Valley, Chisipite, Ballytine Park, Mt Pleasant, Arundel Office Park, Mt Pleasant Business Park, Ryelands, Helensvale, Philadelphia, Hogerty Hill, Luna, Brookvievv, Mountain Breeze, Hatcliffe, Arda Nijo, Crow Hill, Greystone Park, Kambanji, Pomona, SIRDC, Wingate, Mabvuku, Tafara, Lafarge, Domboshava Road, Pomona Area, Guildford farms, Rumbavu Park, Gletwyn Farm, Chisipite, Glenlorne, Umsinsidale, Chishawasha Hills, Spring Heights, Hunters Moon, Folyjon, Zimre Park, Ruwa Industrial, Ruwa residential, Damafalls, Windsor Park, Goromonzi Turn Off area & Plots, New Martins Thorpe, Mandara, Chikurubi, ZRP Support Unit, Manresa, Athlone, Letombo Pumps, Amby, Msasa Industry, Greengrove, Greendale, Greendale North, Chisipite, The Grange.

Customers are advised to treat all circuits as LIVE, during this period as power may be restored without notice.

The inconveniences caused are sincerely regretted.

Govt to revoke licences of shops that increase prices

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Industry and Commerce Minister Mike Bimha said that Government will consider revoking operating licences of businesses found guilty of unjustified price increases.

Minister Bimha said:

When companies operate, they operate on the basis of licensing and permits, which Government has a leeway to withdraw if a company is not behaving as required.

However, we do not want to come up with measures that punish everybody and yet they are probably few, its better for us to be able to identify the culprits and deal with them. Read more

Zimbabwe economy set for 3.5% growth

Zimbabwe’s economy is expected to register a 3.5 percent growth rate next year in line with Sub-Saharan Africa regional economic outlook trends.

The projected economic growth for Zimbabwe is being made in line with efforts by fiscal and monetary authorities to increase business confidence.

Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya told financial global community personalities and captains of industry and commerce at the unveiling of an International Monetary Fund (IMF) 2017 Regional Economic Outlook for Sub-Saharan Africa in Harare this Monday that the 3.5 percent anticipated economic growth for next year is also a reflection of commitment by authorities to consolidate economic gains. Read more

THE International Monetary Fund (IMF) predicts Zimbabwe’s inflation to go up

Image result for IMF director of the African Department Abebe Aemro Selassie in zimbabweTHE International Monetary Fund (IMF) predicts Zimbabwe’s inflation to quicken, in light of the recent price increments and high premiums on the parallel market.

This comes as the IMF has listed Zimbabwe as one of the 20 countries in a “fragile situation” due to fiscal challenges in a regional Economic Outlook for sub-Saharan Africa 2017 report which was launched yesterday in Harare.  Read more

No Zimbabwean had money to buy Barclays Bank says RBZ

Reserve Bank of Zimbabwe (RBZ) Deputy Governor, Khupukile Mlambo said at the weekend that no Zimbabwean had the money to buy Barclays Bank which was sold to Malawai’s First Merchant Bank (FMB) Capital Holdings.

Image result for barclays bank zimA number of Zimbabweans spoke against the acquisition arguing that it is against the Zimbabwe’s indigenisation and empowerment laws. Zanu-PF Youth League was very vocal against the deal despite approval by authorities, arguing the bank should have been sold to locals. Mlambo said:

That’s why for example Barclays Bank was sold to a Malawian (FMB Capital Holdings) because we couldn’t find locally here somebody who could buy it.

We had no money to buy and if we were to buy it we were going to borrow from an institution. Read more

Kwese TV signs 40 000 customers, creates over 2 200 jobs

Kwesé TV Dish, decoder and remoteEconet Wireless Zimbabwe says Kwese TV has signed 40 000 customers and created over 2, 200 jobs.

Speaking to NewsDay on the sidelines of the official launch of Kwese TV in Zimbabwe last week, Econet media director Zachary Wazara said they have subscribed over 40 000 Kwese TV subscribers. Mr Wazara said:

The total should now be over 40 000 [Kwese subscribers] in Zimbabwe. The sales rate has been the same ever since we started and it is phenomenal.

In fact, what we are seeing is that people from all walks of life are coming through and buying, which is creating that kind of momentum. Our challenge is getting enough installers. Read more

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