OK Zimbabwe supermarket chain plans major changes to fix financial problems. Willard Zireva will take over as executive chairman after Herbert Nkala steps down. The company fired several top managers and brought back experienced leaders to help stabilize operations. Board members Rose Mavima, Tawanda Gumbo and Wonder Nyabereka will also leave their positions. Zireva previously ran the company for more than twenty years.
The supermarket needs to raise 30.5 million dollars to pay debts and improve business. Company leaders want 20 million dollars from shareholders through new stock sales. They plan to sell some buildings to raise another 10.5 million dollars. Shareholders must pay about one cent for each new share they buy. The company...
Business leaders across Zimbabwe worry about their unstable currency called ZiG. The money lost 43 percent of its value during September 2024. Companies cannot plan ahead when money changes value quickly. Leaders met at a conference in Victoria Falls to discuss the problem. They want government officials to create a currency that stays steady.
Christopher Mugaga runs the Zimbabwe National Chamber of Commerce. He told conference members that businesses need reliable money to grow. The ZiG started in April 2024 and has gold backing it up. Many people still prefer foreign money because ZiG keeps changing value. Prices for goods keep rising across the country.
Inflation reached 92.1 percent in May 2025 compared to 85.7 percent in April...
Parliament demands changes to Zimbabwe's old steel law from 1942. The current rules hurt the country's steel business and make exports harder. Clemence Chiduwa leads the Parliamentary Portfolio Committee on Industry and Commerce. He says the outdated law treats steel products like raw minerals. All steel exports must go through the Minerals Marketing Corporation of Zimbabwe.
The system creates major problems for steel companies. Buyers from nearby countries like Mozambique and Malawi face long waits. The registration process takes more than one month. Mistakes happen often with export papers and permits. Many customers lose patience and cancel their orders.
Dinson Iron and Steel Company makes most of Zimbabwe's steel products...
Parliament demands Treasury remove the 2% money transfer tax before August 31, 2025. Lawmakers want to save Zimbabwe's struggling formal business sector from collapse. The Parliamentary Portfolio Committee on Industry and Commerce released a stern report about the crisis. Committee leader Clemence Chiduwa warned about businesses closing across the country. At least 20 retail and wholesale companies have shut down since January.
The transfer tax forces businesses to operate outside the law. Companies avoid electronic payments to escape the costly fee. Banks report fewer transactions as customers switch to cash payments. The Bankers Association submitted proposals to reduce the tax burden on businesses. Electronic payment systems face...
The University of Zimbabwe fired four union leaders during a faculty strike that has lasted 71 days. Faculty members demand pay raises from $230 to $2,250 monthly. University officials removed Association of University Teachers President Munyaradzi Chamburuka and three other top union officials.
The university accused the leaders of using the Great Hall without approval for a union vote. Union Spokesperson Obvious Vengeyi said university staff opened the building for them and provided security. Officials also sent a legal representative to watch the April 2 meeting. The university later claimed the union broke rules about building use.
Union leaders received suspension notices on May 6 and faced disciplinary hearings. The university...
Businessman Kudakwashe Tagwirei sparked controversy Wednesday after telling university students that Zimbabweans without government contracts are foolish. The Sakunda Holdings founder spoke at the National University of Science and Technology. He defended himself against accusations of being a tenderpreneur. Tagwirei argued that government remains the biggest buyer and seller. He urged people to pursue state contracts rather than avoid them.
The wealthy entrepreneur claimed his critics feel jealous because they cannot secure tenders. Tagwirei said white people created the term tenderpreneur to stop black people from accessing government business. He recently joined the ruling party central committee amid speculation about presidential...
Zimbabwe will host Sri Lanka for five cricket matches during late August and early September. The Asian team will visit Harare for two One Day International games on August 29 and 31. Three Twenty20 contests will follow on September 3, 6 and 7. Harare Sports Club will stage all five encounters. Zimbabwe Cricket Managing Director Givemore Makoni expressed enthusiasm about the upcoming series.
The Twenty20 matches serve as important preparation for Zimbabwe ahead of major qualifying events. Zimbabwe will host the ICC Men's T20 World Cup Africa Regional Final from September 19 through October 4. The regional competition will determine which two African teams advance to the 2026 T20 World Cup. India and Sri Lanka will jointly host the 2026...
Shell rejected reports about possible merger talks with BP on Wednesday. The British oil company told reporters that no discussions were happening between the two firms. A company spokesman said Shell remains focused on improving how it performs rather than buying other businesses. The Wall Street Journal had claimed the companies held early conversations about combining their operations. BP refused to share any details when asked about the reports.
Oil industry experts said such a deal would create one of the largest mergers ever seen. The combined company would better compete against American giants like ExxonMobil and Chevron. French energy company TotalEnergies would also face stronger competition from the merged business...
Senior officials at Harare City Council fear for their jobs after investigators released a harsh report about the local government. President Emmerson Mnangagwa created a five-person team to examine how the municipality operates. Retired High Court judge Justice Maphios Cheda led the investigation team. The commission discovered widespread corruption and poor management during public hearings. Top officials and some council members were identified as the main problems.
The investigation revealed shocking salary details for city workers. The town clerk received $27,000 each month and could earn up to $30,000 with benefits. The lowest-paid executive made $15,000 monthly despite terrible public services. City directors took expensive...
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