Youths in Mashonaland East province who benefited from the Cabs youth loan scheme, have this year paid back only $1 523,36 of the $680 500 distributed to the province's nine districts.Of the 456 loans disbursed, a whopping $678 976,67 is yet to be paid back to the detriment of other youths, who are on the waiting list.According to a report handed to Youth and Indigenisation minister Patrick Zhuwao

Banks have put up cash withdrawal limits to a maximum of $500 per transaction amid a cash crunch crisis hitting the country.Although some bank officials tried to put the matter under a lid, market snap surveys in and around Harare and in Bulawayo, however, revealed that even the ZimSwitch facility had been disabled and customers were unable to receive cash backs from some supermarkets.Reserve

Jose Mourinho, the former Real Madrid and Chelsea Football Club manager and American businesswoman and Facebook spokesperson Randi Zuckerberg are set to visit the country to attend an investment indaba scheduled for Bulawayo in May.Zuckerberg is a multi-millionaire and sister to Facebook founder and chief executive Mark Zuckerberg.Mourinho will address delegates on sport development, cohesion and

ECONET Wireless Group executive chairman Strive Masiyiwa has been confirmed as the 150th speaker at the 23rd World Energy Conference to be held in Turkey in October.The congress runs from October 9 to 13 in the Turkish capital, Istanbul.Other speakers include Wang Binghua chairman China's State Power Investment Corporation and Maximus Johnity Ongkili Malaysian minister of Energy, Green Technology

WORKERS at Hwange Colliery Company Limited, who are fighting to have the coal mining giant placed under judicial management, have alleged that management and the board of directors mishandled eight contracts costing the firm millions of dollars. They claim that directors and management have allegedly been involved in a number of schemes to "siphon money" from the company. This is contained in a Hi

MILLIONAIRE entrepreneur Strive Masiyiwa says Econet’s court battles in Zimbabwe and Nigeria tested the countries’ legal systems which are pivotal for the sustainability of real business.Masiyiwa fought a five-year court battle for Econet to get an operating licence in Zimbabwe. His company also had to endure a gruelling court battle in Nigeria.In an interview with Focus Magazine, Masiyiwa sai

SOCIALITE Wicknell “Sir Wicknell” Chivayo has been nominated as the leading young businessman by an internationally recognised institute, Ngoda Business Global, for his reported outstanding achievements in the alternative energy sector. Chivayo, known for his extravagance and his widely publicised sponsorship of the country’s football, beat nine others that include property magnate Fran

A UNITED Nations senior official says local manufacturers should take advantage of the strengthening of the United States dollar against the South African rand and import new machinery.Local manufacturers are dogged by obsolete equipment that has pushed up the cost of production making local products uncompetitive.But United Nations Economic Commission for Africa executive secretary Carlos Lopes s

The condition of crops and livestock has continued to deteriorate despite the recent rains received in most parts of the country.Some areas such as Mashonaland East, West and Central have patches that have a good crop.Zimbabwe Farmers Union director, Mr Paul Zakariya said development of crops mostly depended on moisture and in most areas evaporation had increased because of the high temperatures.M

Secretary for Agriculture, Mechanisation and Irrigation Development Ringson Chitsiko blasted Government for prioritising importation of maize instead of supporting local farmers with inputs to enable them produce high yields just like neighbouring countries.Appearing before the Parliamentary Portfolio Committee on Lands, Agriculture Mechanisation and Irrigation Development yesterday, Mr Chitsiko s

RESEARCH has shown that three quarters of tourists who recently visited Victoria Falls would not visit Zimbabwe again if the cost of accommodation, which is already high, is increased by more than 5 percent.Hospitality operators have been subjected to 15 percent valued added tax on foreign visitors’ hotel accommodation since January 2015. But the majority only passed on 5 percent of the cost to

ZAMBIA suspended maize exports to Zimbabwe last week to help build reserves in light of a looming El Nino-induced drought.The suspension has affected local grain importers who are now battling to bring in about 70 000 tonnes of maize worth $24 million which they had already purchased."The future (in Zambia) is uncertain because they are also putting an importation programme," Grain Millers Assoc

GOVERNMENT is conducting a petroleum sector pricing study and working on policy measures to address the imbalances in the fuel market.Speaking in the Senate recently, Energy and Power Development deputy minister Tsitsi Muzenda said when reviewing the fuel price.She said government was also working on the removal of the wholesalers' storage and handling costs of $0,015/litre as the majority of comp

THE Reserve Bank of Zimbabwe said yesterday it is mobilising long-term affordable financing for miners in the gold and diamond sectors as it seeks to increase contribution of the minerals to export earnings.RBZ governor John Mangudya said the two minerals were key to the recovery of the struggling mining sector and of the overall economy.The RBZ is also pushing new law reforms to decriminalise gol

A LIONESS and 41 endangered white backed vultures were found dead, believed poisoned at an animal sanctuary in Beitbridge district.The endangered vultures are feared to have feasted on the carcass of a lioness that was allegedly poisoned with strychnine at Sentinel Limpopo Eco Safaris in the border district.The owner of the safari ranch, Digby Bristow, said they suspected that a disgruntled cattle