Finance minister Patrick Chinamasa will today present the 2015 national budget amid pressure to breathe life into the comatose economy, analysts said yesterday.
Finance minister Patrick Chinamasa on Thursday said the government was on track to meet targets under the International Monetary Fund’s Staff Monitored Programme (SMP) and will go ahead with amendments to its empowerment law as part of the reforms.
IN a major volte face, President Robert Mugabe’s administration has backed down on its controversial indigenisation policy, with an influential minister in the government hinting the equity law is being watered down, a move analysts say is a tacit admission to failure to turn around the comatose economy.
ZIMBABWE is planning to tone down a controversial equity law which forces foreign companies to cede a majority shareholding to local
investors, a Cabinet minister said yesterday.
INDIGENISATION minister Francis Nhema yesterday said he was not aware of a blitz against foreign-owned Bulawayo companies operating in sectors reserved for locals.
THE Zanu PF Youth League in Bulawayo has been caught up in a fresh scandal with the wing’s secretary for indigenisation Davis Mhambi being accused of cheating struggling Bulawayo firms to donate nearly $20 000 towards President Robert Mugabe’s 90th birthday celebrations.
THE Construction Industry Federation of Zimbabwe (Cifoz) has accused the State Procurement Board of sidelining its members by awarding foreign companies lucrative tenders at their expense.
THE Youth, Indigenisation and Economic Empowerment ministry plans to increase the enrolment of youths in vocational training centres from the current 7 300 to 50 000 by the end of this year as it drives towards its target of 500 000 by 2018.
YOUTH, Indigenisation and Economic Empowerment deputy minister Mathias Tongofa has challenged Bulawayo youths to shun the wait-and-see attitude and instead tap into opportunities the current economic situation presents.
HARARE — Aquarius Platinum, which jointly owns Mimosa Mines with Impala Platinum, is talking to the new Indigenisation minister Francis Nhema on its indigenisation deal, amid indications that the government wants to radically alter terms.