- Local News
Govt in massive job cuts
LIVINGSTONE MARUFU Cabinet has resolved, in an unprecedented move, to cut its labour force in an attempt to balance the growing cost constraints with the shrinking tax base as the economic crisis has worsened, it has been learnt. The decision was made at a time when the government, which is heavily dependent on tax revenue to fund its operations due to a lack of budgetary support from the donor community, is struggling to control recurrent…
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Financiers avail US$115m to CBZ in H1
CLOUDINE MATOLA CBZ Holdings Limited (CBZHL), a publicly traded financial services group, has raised US$115m from three major financiers – Africa Export-Import Bank, Shelter Afrique and TDB Bank- in the first half of this year as part of efforts to fulfil the expanding funding demands, Business Times can report. This was confirmed by CBZ Holdings board chairman, Luxon Zembe. “The group raised an additional US$115m in lines of credit from strategic partners including the Africa Export-Import…
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Starlink key to ED vision: Minister
TANAKA FETINANDI Information Communication Technology (ICT) Postal and Courier Services Minister Tatenda Mavetera says the licensing of Starlink by the government is crucial for realisation of President Emmerson Mnangagwa’s vision. Mavetera celebrated the coming in of Starlink expressing gratitude to Mnangagwa on the move. Starlink is owned by billionaire Elon Musk who is now owner of X, formerly Twitter. “Thank you our President Mnangagwa for allowing Starlink to operate in Zimbabwe,” she said. “This technology…
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