News

Zimbabwe is losing over US$2 billion in illicit financial flows, revealed Tendai Biti, a former Minister of Finance and Economic Development. Biti urged the government of Zimbabwe to consider enacting laws to deal with illicit financial flows which he said are bleeding the country. Speaking in the National Assembly, Biti said he was concerned about […]

Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya has sought to clarify the issue of Gold Dealing Licence fees following the publication of Statutory Instrument 32 of 2023 on Monday, 20 March 2023. The Statutory Instrument set the fee for a Gold Dealing Licence at US$200 000 per annum. In a statement issued this Tuesday, […]

The Mberengwa-Zvishavane Miners Association has urged the Government to introduce mining as a subject in primary and secondary schools. Speaking during the 2023 Great Dyke Career Fair held at Gresham Primary School in Zvishavane recently, the miners’ association chairperson Themba Sibanda, said: l have been challenged by the school which has introduced hunting as a […]

The Zimbabwe Power Company (ZPC) late on Monday said the new 300 megawatts (MW) generating unit at Hwange Thermal Power Station started feeding electricity into the national grid. Zimbabwe is expanding the 920MW Hwange power station by adding two 300MW units (7 & 8) at a cost of US$1.4 billion, with 85% of the funding […]

The government has set the fee for a Gold Dealership Licence at US$200 000. Finance and Economic Development Minister Mthuli Ncube announced the development under Statutory Instrument 32 of 2023. The SI reads in part: It is hereby notified that the Minister of Finance and Economic Development, in terms of Section 19 of the Gold […]

EXALO Rig 202, the oil rig that was contracted by Invictus Energy to drill for oil and gas samples in Zimbabwe, will stay in the country for the next 12 months, the Australia Stock Exchange-listed firm said this week. Invictus drilled two test wells at its Zambezi Valley oil and gas claims, called Cabora Bassa, […]

REGIONAL cement maker PPC expects sales volumes at its Zimbabwean unit will drop by 14% in the full year compared to the same period last year due to recurrent power outages and grey imports. PPC operates a clinker plant at Colleen Bawn in Gwanda in the southern part of the country, as well as cement-milling […]