Articles tagged 'investment'

'ED must be cautious in adopting Rwanda's development model' 13 April 2018 HARARE - President Emmerson Mnangagwa has been warned against importing the Rwandan model of marketisation of the economy without democratisation and respect for fundamental civil and political liberties, analysts have said. This comes after Mnangagwa this week received the chief executive of ...
Zim's envoy to Senegal quits MDC 4 April 2018 HARARE - Lottie Gertrude “Trudy” Stevenson is a remarkable political survivor, appointed as Zimbabwean Ambassador to Senegal in 2009 during the GNU as a deployee of the smaller MDC led by Welshman Ncube. A former  national secretary for Policy and Research in the then Morgan Tsvangirai-led, Tr...
ED heads to CEO forum 14 March 2018 HARARE - President Emmerson Mnangagwa is heading to Ivory Coast for the Africa CEO Forum as he ramps up efforts to lure foreign investment. A lot of attention will focus on Zimbabwe's new president, who deposed long-time ruler Robert Mugabe, who was the world's oldest leader until the military...
Zim to host investment conference 14 February 2018 HARARE - Zimbabwe will next month host an investment conference aimed at providing a platform for potential investors, business and government to come up with ways to increase the flow of investment into the country. The programme also includes discussions on various issues affecting the count...
Zim FDI continues to fall 12 June 2017 HARARE - Zimbabwe attracted $319 million in foreign direct investment (FDI) last year compared to $421 million in 2015, the World Investment Report has shown. The annual report, compiled by the United Nations Conference on Trade and Development (Unctad), southern African country’s FDI has been...
Zim to open door further to foreign investors 29 December 2016 HARARE - Faced with a deep recession, Zimbabwe is looking to lure foreign investments in 2017, saying it will allow more foreign participation in its main market, in the latest step towards shoring up the country's stuttering economy. Macro Economic Planning and Investment Promotion minister O...
Address corruption to unlock funding: EU tells Zim 17 October 2016 HARARE - Zimbabwe needs to deal with, and address corruption levels to unlock funding, a European Union official has said, amid indications that the country’s high levels of domestic debt and fiscal deficit are being driven by rampant corruption. EU envoy to Zimbabwe, Philippe Van Damme, last ...
'Australia could boost Zim investment' 19 May 2016 HARARE - A stable business environment in Zimbabwe could see a rise in Australian investments in the southern African nation, according to Canberra's envoy here, following an exodus of investors in recent years. This comes as Zimbabwe's empowerment policy that aims to redress colonial-era imba...
Zhuwao tosses tax loophole to Chinamasa 4 April 2016 HARARE - Indigenisation minister Patrick Zhuwao says his ministry has approached Treasury after it emerged that amendments to Zimbabwe's black empowerment laws would, in the long run, force empowered employees to sell off their shares to meet tax obligations. Speaking on the sidelines of a mee...
AAG to Zhuwao's defence 4 April 2016 BULAWAYO - The Affirmative Action Group (AAG) has leapt to the defence of Indigenisation minister Patrick Zhuwao over his threats to sue foreign companies that will not comply with the controversial empowerment law. Zhuwao recently threatened to close non-compliant firms, warning that he would...
Zhuwao's indigenisation stance worrying 31 March 2016 HARARE - Indigenisation minister Patrick Zhuwao's combative stance on foreign firms that are yet to comply with the controversial indigenisation policy is very worrying to say the least. Yesterday, President Robert Mugabe's nephew was at it again but this time not only threatening to close all...
Threats against foreign firms 'fascist' 27 March 2016 HARARE - Thousands will be jobless if government goes ahead with its Indigenisation and Empowerment Act directive, economic experts have warned. This follows Wednesday's announcement by Indigenisation minister Patrick Zhuwao that all foreign-owned companies face closure unless they sell or giv...
'Zhuwao playing Russian roulette with economy' 26 March 2016 HARARE - The Welshman Ncube-led MDC has accused government of playing Russian roulette with the economy after government gave foreign businesses until April 1 to comply with controversial equity laws that compel them to cede majority stakes to locals or risk closure. Empowerment minister Patri...
Zim threatens to shut down non-compliant foreign firms 24 March 2016 HARARE - Government yesterday threatened to shut down foreign-owned firms that do not comply with its indigenisation law by April 1. “Cabinet has directed that on April 1 all line ministers invoke Section 5 of the Indigenisation and Economic Empowerment Act Chapter 14:33 and act against all no...
2013 poll lies haunt Mugabe's Zanu PF 22 March 2016 HARARE - With a mere two years to go to Zimbabwe's next national elections, Zanu PF's pie-in-the-sky 2013 election promises are coming back to bite the governing party, with the economy continuing to tank and bleed tens of thousands of badly-needed jobs every new year. This comes as analysts s...
Chinese business delegation expected tomorrow 4 January 2016 HARARE - An investment delegation from Qingdao Province, China is expected in the country tomorrow, as more companies from the Asian giant continue to scout for investment opportunities in Zimbabwe. Information from the ministry of Macro-Economic Planning and Investment Promotion indicates tha...
No respite for 'povo' in 2016 30 December 2015 HARARE - It seemingly never rains but pours for long-suffering Zimbabweans, with analysts warning that 2016, which ruptures into life on Friday, will be harder and nastier all round compared to 2015 which was itself described as an “annus horribilis” (horrible year). Political and economic exp...
“High Zim taxes scare away investors” 17 December 2015 HARARE - Zimbabwe's high taxes and a cocktail of statutory levies are pushing investors away from the country's energy sector, Parliament has warned. Parliamentary portfolio committee on Energy chairperson Nomsa Mhlanga on Tuesday told the National Assembly that mandatory levies being imposed ...
Zim needs a sound development policy 13 December 2015 HARARE - A policy is a declaration of an intention of an organisation or institution. These are rules and regulations which will set terms of reference for an organisation. Government must come up with a proposal to come up with a sustainable development policy which engineers growth. [G...
Africa warned over Chinese investment 17 November 2015 HARARE - African countries must not overstate the extent of Chinese investment on the continent as China is investing very little, a United Nations (UN) official said. Speaking to delegates at the recently-held African Media Leaders Forum in South Africa last week, UN Economic Commission for A...
Dangote omits Zim 11 October 2015 HARARE - Africa's richest man Aliko Dangote has curiously omitted Zimbabwe from the countries he named as investment destinations only a few weeks after purportedly striking a mega deal with the southern African country. During his visit to Zimbabwe last month, where he met President Robert Mu...
Terrorising Masiyiwa, embracing Dangote 8 September 2015 LONDON - It has dawned on Zanu PF that its so-called resource nationalism has failed to produce expected results. Zanu PF had anticipated that over time its agrarian revolution would vivify Zimbabwe's moribund economy. However, this has not happened or at least at the scale that it had anticip...
Mugabe panics 3 September 2015 HARARE - Faced with the twin threats of a collapsing economy and mass unrests, President Robert Mugabe is being forced by the dire economic situation in the country to embark on a cocktail of reforms of Zimbabwe's “medieval” investment terrain, in a desperate bid to stimulate both local and forei...
Mugabe call encouraging but… 12 August 2015 HARARE - President Robert Mugabe's encouraging statement on respecting investor rights should not be allowed to stop with the full stop on the paper on which his Heroes Day speech was written on! It's significant that Mugabe, who is seen as a stumbling block to attracting investment into Zimba...
Cabinet reshuffle fails to inspire market 9 July 2015 HARARE - Zimbabwe's economy remained in a fragile state this week as a Cabinet reshuffle by President Robert Mugabe failed to calm investors’ nerves set on edge by a black economic empowerment drive, the acceleration of de-industrialisation and informalisation of the economy. Despite the 91-ye...