Shops should lose licences for increasing prices: CZI

Confederation of Zimbabwe Retailers president Mr Denford Mutashu said they have approached Government and requested that licences of retailers who were overpricing should be revoked.

Mr Mutashu said:

Presently, we are going around noting the names of retailers charging speculative prices, and we have forwarded their names to Government and the Financial Intelligence Unit of the RBZ. Read more

Ecocash launches new service

Image result for ecocashEconet Wireless’ mobile money platform, EcoCash, has launched a “Swipe into EcoCash” service that enables customers whose banks have not integrated with EcoCash to be able to swipe their monies from their bank accounts into their EcoCash accounts.

All ZimSwitch enabled cards can access the facility. Currently only five banks are yet to connect to the EcoCash platform. The service will be available at selected merchants as well as agents, and customers can swipe up to $2 000 per transaction.

EcoCash general manager Natalie Jabangwe Morris said this was part of the firm’s efforts to enhance inter-operability and convenience at a time the country is facing cash shortages and relying on electronic platforms for transacting. Read more

Amazon CEO, Jeff Bezos becomes the richest person in the world again after adding $6.8 billion to his net worth overnight

Amazon CEO,?Jeff Bezos becomes?the richest person in the world again after adding $6.8 billion to his net worth overnightAccording to Forbes, Amazon CEO Jeff Bezos is now the richest person in the world for the second time as Amazon stock opened up more than 8% higher than Thursday’s close, adding nearly $7 billion to Bezos’ net worth overnight.

Bezos had a net worth of $89.7 billion, as of the start of trading on Friday, while Gates had a net worth of $90.1 billion, up $550 million from yesterday. Read more

No cash for individuals says Banks

Image result for bank queues in zimbabweResponding to questions at the recently held ZimTrade annual exporters’ conference held in Harare, Bankers Association of Zimbabwe (BAZ) president Dr Charity Jinya said banks are prioritising exporters for cash withdrawals and foreign currency allocation over individual account holders.

Dr Jinya said:

For people who are not exporters, the likelihood of getting cash from banks are slim, under the current situation. Read more

Cooking oil shortages to end in two weeks

Image result for cooking oilOIL Expressers Association of Zimbabwe (OEAZ) has blamed the cooking oil shortages on delays in turnaround time from paying suppliers to getting the crude oil into the country, saying the situation would improve in two weeks’ time.

OEAZ president Busisa Moyo told NewsDay yesterday in a telephone interview that manufacturers required 14 days to make payments, receive the raw materials and put the products on the shelves.

“From payment, we are allocated products by crude oil suppliers based in South Africa there is a turnaround period, so you do not just pay today and tomorrow you refine it and it is in the bottle, you know, there are logistics and time,” Moyo said. Read more

NSSA general manager earns US$16 786 per month while pensioners get US$80

Image result for nssa zimbabweAccording to information gathered by The Sunday Mail, National Social Security Authority (NSSA) general manager Mrs Elizabeth Chitiga earns US$16 786 per month while other executives earn between US$6 000 and US$15 000 monthly.

Pensioners get US$80 monthly payouts despite years of contributing to NSSA.

NSSA board chair Mr Robin Vela defended the high perks saying: Read more

Retailers urge cooking oil producers to step up production, threaten to start importing

The Confederation of Zimbabwe Retailers (CZR) has called on the cooking oil producers to increase production because there is a shortage of cooking oil.

The CZR warned the producers that it may be forced to seek permission to import the cooking oil if the shortages are not covered.

CZR chairperson, Denford Mutashu, said:

Right now there is a shortage of cooking oil and it’s glaring. We continue urging processors to step up their game because we might end up asking the government to give us import permits to fill the gap.

Our members have been knocking on our doors asking us to do something. Read more

Genius Kadungure reportedly spends R2million on birthday bash in SA

Speaking to HMetro, Genius Kadungure said that he spent R2 million on his three day birthday celebrations in Cape Town, South Africa. He said that more than 120 people attended the birthday celebrations.

Genius was quoted saying:

In all there was more than R 2 million spent over the weekend and this includes what other people paid on their own but for purposes of my birthday celebrations.

The direct costs to me was up to R 1,2 million while the remainder was settled by the other guys who were In the delegation. It cost R 68 000 to ship my six cars to and from Cape Town. Read more

We Regret Giving Miss Tourism Licence To Mzembi’s Wife – ZTA

Karikoga Kaseke the chief executive officer of the Zimbabwe Tourism Authority (ZTA) has said that his organisation regretted giving the Miss Tourism Zimbabwe (MTZ) pageant licence to Barbara Mzembi, wife of newly appointed Minister of Foreign Affairs Walter Mzembi.

Kaseke said he regretted the fact that he had not seen the conflict of interest even though Walter Mzembi was the minister of tourism and hospitality industry when the licence was given to his wife. Read more

Govt must suspend bonuses for civil servants until the economy stabilises – CZI

Image result for chomboThe Confederation of Zimbabwe Industries (CZI) has called for the government to suspend bonuses for civil servants in order to cut on government expenditures until the economy stabilises.

The government was also urged to cut down on travelling in order to save money.

Appearing before the Parliamentary Portfolio Committee on Finance on Monday, CZI president Sifelani Jabangwe said:

We recommend dialogue between civil service unions, labour and government to eliminate ghost workers, suspend annual bonuses and cut down on foreign travel by government.

Read more

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