Multi-Currency System Not Working: Zanu-PF Tells Mthuli Ncube

Image result for mthuli ncubeIn an interview with The Standard, Finance Minister Mthuli Ncube said the current economic policies are meant to create the right environment for currency reform.

Before he became Finance Minister Ncube said he would demonetize the bond note. Zanu-PF urged Ncube to look into the multi-currency system which they said is not working. Below is an excerpt of Ncube’s (MC) interview with The Standard (OM)

OM: The conference specifically urged you to look into the multi-currency system, which they said was not working. Do you have any immediate solutions in your mind?

MC: The policies we have put in place are what we have in mind because you need strong policies, consistent policies, policies that begin to achieve results. Read more

Mnangagwa’s Economic Policies Constitute A Comprehensive Stabilization And Reform Effort- IMF

Image result for imfThe International Monetary Fund (IMF) said President Emmerson Mnangagwa’s current economic plan is a comprehensive stabilization and reform effort.

Responding to an online question during Friday’s edition of IMF’s weekly question-and-answer session, the Fund’s director of communications, Mr Gerry Rice, said IMF can only work on a financial programme with Zimbabwe once the country strikes a deal with bilateral creditors and clears its arrears with other international financial institutions.  Read more

Vic Falls mall 65% complete

Image result for Vic Falls shopping mallZIMRE Property Investment (Zimre) has so far spent $9,2 million on its shopping mall in Victoria Falls which is now 65% complete.

Providing above 5 000 square metres of lettable space, the $13 million Sawanga Shopping Mall consists of 23 shops, banks, concept houses, food courts, restaurants, coffee shops, a service station and curio shops.

Zimre property manager, Stephen Kapfunde, told NewsDay in e-mailed responses that the mall would be operational by end of this month.

“The shopping mall is approximately at 65% completion and we expect the contractor to finish off most of the brickwork and to have the balance of the roof sheets on the mall in two weeks’ time from now,” Kapfunde said. Read more

Zimbabweans To Apply For Passports, Birth And Death Certificates At Post Offices

Image result for zimbabwe post officeThe Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) announced that it is working to transform post offices around the country so that they offer e-commerce and e-government services.

Potraz said as a result people will be able to apply for passports, birth and death certificates as well as access other Government services at postal outlets.  Read more

President Mnangagwa To Commission $140 Million New Parliament Building

President Mnangagwa will next week commission the construction of the $140 million New Parliament Building in Mt Hampden.

The new building is expected to house more than 600 people at any given time. China is funding the construction of the new building and has released $46 million for the project.

Briefing the media after yesterday’s Cabinet meeting, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said works on the project will commence soon.  Read more

Frank Buyanga to Avail 500 Million Rand For Fuel, Medicines, Cement, Cooking Oil And Other Commodities

Image result for frank buyangaAfrican Medallion Group owned by South African based Zimbabwean businessman Mr Frank Buyanga will avail a 500 million rand facility for the procurement and delivery of fuel, pharmaceuticals, cement, cooking oil and other commodities through a bonded infrastructure.

AMG chairperson Ms Estee Mamman wrote to RBZ Governor John Mangudya requesting for assistance with the procurement. In response, Mangudya advised AMG to directly approach the importers of the proposed commodities. Read more

Magufuli fires two ministers over cashew nut price row

Magufuli fires two ministers over cashew nut price rowDAR ES SALAAM. – Tanzania’s President John Magufuli said the government could buy up the country’s cashew nut stock after he fired two ministers and dissolved the industry regulator in a row over the price of the commodity.

Last month, President Magufuli ordered a 94 percent increase to cashew nut prices at the industry regulator’s auctions and fired the organisation’s head in moves he said were aimed at safeguarding farmers from unsustainably low prices. Read more

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