Abducted Tanzanian Billionaire Mo Dewji Returns Home

Tanzanian billionaire entrepreneur Mohammed Dewji, who was abducted by unidentified kidnappers on October 11 in Dar es Salaam, has been released and has returned home safe.

In a statement released by MeTL group at 3.15AM today, the prominent businessman says: “I thank Allah that I have returned home safely, I thank all my fellow Tanzanians and everyone around the world for their prayers.

I thank the authorities of Tanzania, including the Police Force for working for my safe return.”

The Tanzanian police have also released a video in which Dewji, dressed in a t-shirt and who looks visibly shaken and worn out, thanks his supporters. Read more

Government unveils measures to protect people’s savings

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The government has revealed that it will protect people’s savings by preserving the value of their bank account balances on the current rate of exchange of 1 to 1, and ring fencing foreign currency accounts.

In a statement, the Minister of Finance and Economic Development, Professor Mthuli Ncube noted the concerns surrounding the RTGs deposits and foreign currency accounts and clarified the government’s position on the issue. Read more

Zim set to have first MRI equipment

No automatic alt text available.A local health institution has embarked on a US$10 million expansion and refurbishment project that will see the country having the first Magnetic Resonance Imaging (MRI) equipment called Three Tesla from Japan, which is set to be the first of its kind in Africa.

The development has been lauded as a step in the right direction despite numerous challenges bedevilling the health sector.

The Avenues Clinic in Harare, is one of the country’s prime health facilities catering for locals, diplomats and even tourists. Read more

Govt Dismisses Diaspora Tax Reports as false

Image result for mthuliIn an interview with NewZimbabwe.com, Finance Minister Mthuli Ncube dismissed reports that Government was planning to impose a tax targeting the estimated million-plus Zimbabweans in the Diaspora.

Ncube is in London where he is expected to hold meetings with Zimbabweans based in the UK and attend an Africa summit before flying off to Bali, Indonesia for meetings of the World Bank and the International Monetary Fund (IMF). Speaking to NewZimbabwe.com, the Minister said, there is no diaspora tax. Read more

Finance Minister Mthuli Ncube speaking at Chatham House today

Image result for mthuliMinister of Finance and Economic Development, Mthuli Ncube will be speaking at Chatham House in the United Kingdom on Monday the 8th of October (today).

Ncube will outline his plans for Zimbabwe’s economic revival at a time when Zimbabweans are crying about the 2 percent tax on money transfers which the minister imposed last week.

The ripple effects of the announcement together with the Reserve Bank of Zimbabwe (RBZ) governor John Mangudya’s monetary policy are still being felt as prices of essentials have gone up and the rates for foreign currency on the black market continue to skyrocket. Read more

We Have Enough Fuel Stocks, Panic Buying Has Created “Artificial Shortages”

Image result for joram gumboMinister of Energy and Power Development Minister Jorum Gumbo has said the country has adequate fuel stocks and attributed the long queues witnessed at filling stations to panic buying.

The minister indicated that an “artificial shortage” had been created by people who are hoarding fuel. Speaking to the Sunday Mail, Gumbo said,

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The sporadic fuel stock-out at service stations are being caused by a number of factors that include foreign currency shortages and panic buying by motorists, resulting from false social media messages… What is happening also is panic buying is creating artificial shortages as motorists are buying more than they require… Read more

We Will Never Let Zimbabwe Down In Terms Of Investment

Image result for Remy Rioux the chief executive officer of the French government’s development agencyRemy Rioux the chief executive officer of the French government’s development agency, French Development Agency (FDA), has said that business people from his country will be visiting Zimbabwe next month to scout for opportunities.

After meeting with President Emmerson Mnangagwa at his Munhumutapa Offices on Saturday, Rioux said,

The French businesspeople will come early November in the country to start again and we will have a high-level political dialogue soon in the beginning of next year between our two countries… Read more

RBZ announces FCA return, more monetary reforms

RBZ announces FCA return, more monetary reformsThe Reserve Bank of Zimbabwe (RBZ) has reintroduced foreign currency accounts (FCA) in a move expected to renew Zimbabweans’ interest in depositing hard cash in the banks, deal with the illegal foreign exchange market and stabilise prices.

The country has in the past few months been reeling under foreign currency shortages arising from the mismatch between demand and supply of the hard cash, resulting in local industries failing to sustain the needs of the local market.

The trend has also led to the rise in prices of several commodities, while hoarding of cash has also become the order of the day, with industries failing to access funds for imports while hard cash deposits in the banking sector had been subdued. Read more

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