Browsing: Harare

The government later resolved that the state would use the city’s devolution funds forcing the Combined Harare Residents Association (CHRA) to approach the courts. The Combined Harare Residents Association (CHRA) also cited the city of Harare (CoH) and Geogenix B.V as a respondent in an urgent chamber application filed through Zimbabwe Lawyers for Human Rights (ZLHR).

CHRA is seeking to bar an order issued by Moyo on July 7 ordering CoH to stop all investigations into the Pomona deal and reverse its suspension.

They want the courts to declare that the directive by Moyo as well as the utilization of devolution funds to pay Geogenix B. V contractual obligations unlawful.

In a letter by Scanlen and Holderness addressed to Moyo dated July 18, the residents’ lawyers said the council had a right to govern its affairs in line with the Urban Councils Act.…

Qatar Airways made its inaugural flight into Harare this week on sixth opening Zimbabwe to a major airline hub and showcasing its confidence in the Second Republic’s efforts to transform the economy.

Zimbabwe is now connected to the massive hub airport at Doha with all its connections around the world. The new routes were the airline’s fifth and sixth destinations in Africa since the outbreak of the Covid-19 in December 2019.

This agreement will see Qatar Airways fly to Harare three times a week from Doha using a Boeing 787 Dreamliner.

In lauding this great infrastructural development project, through his representative, and the Principal Director in the Ministry Mr. Allowance Sango at Robert Gabriel Mugabe International Airport, Transport and Infrastructural Development Minister Felix Mhona said that Zimbabwe and Qatar have had good relations and given that the Middle East country has expressed interest in cooperating in critical sectors for the …

South Africa remains one of the most important trading partners for Zimbabwe; with Zimbabwe importing 40% of its total imports and exporting 75% of its total exports to South Africa.

Since 2007, South Africa has always maintained a trade surplus with Zimbabwe with the surplus widening over the review period mainly attributed to the economic instability experienced in Zimbabwe and the volatility of the South African Rand to the US dollar.

But with the violent events that unfolded in South Africa this past week continually present renewed purpose for some serious soul searching by Zimbabwe’s economic decision makers on how to model the economy out of the dependency on its neighbor to the south for raw materials and other essentials, according to the economic experts.

South Africa’s KwaZulu Natal and Gauteng provinces the two strategic economic areas broke into mayhem last week as looters ransacked major retail shops, banks and …

Victoria Falls Stock Exchange

Zimbabwe’s newest stock exchange, The Victoria Falls Stock Exchange will open its doors to trading on Monday 26 October 2020. The VFEX will trade in foreign currency only. 

The exchange will be a wholly-owned subsidiary of the Zimbabwe Stock Exchange, with reports indicating that there are plans to bring in an equity partner.

The launch and official opening to be graced by Zimbabwe’s Minister of Finance and Economic Development, former AfDB Vice-President Professor Mthuli Ncube is set to take place this Friday.

The Zimbabwe Stock Exchange experienced a hiatus from trading as instructed by the Finance ministry in a crackdown on parallel market activity earlier this year. It was to open its floors a month later but in the absence of fungible counters. The Victoria Falls Stock Exchange is therefore expected to start off trading with the fungible counters that were suspended from trading on …