Zimbabwe has $760 million, which is 11.7 percent of total deposits, but this money is not circulating as it should causing the current cash shortages, Agriculture Minister Joseph Made said yesterday on behalf of Finance Minister Patrick Chinamasa.
Financial services group CBZ Holdings and Bulawayo City Council (BCC) yesterday signed a memorandum of understanding (MOU) to construct 670 houses at a cost of $7 million in the city.
Zimbabwe cannot adopt the South African rand as its own currency because it is foreign currency which has to be earned, Agriculture Minister Joseph Made who was standing in for Finance Minister Patrick Chinamasa told the Senate yesterday.
Auction floor sales for the 2017 tobacco selling season declined by 3.23 percent to $508.56 million as at July 5, 2017, from $525.5 million recorded in the comparable period last year on lower sales volumes, statistics from Tobacco Marketing Board (TMB) show.
The State owned, Central Mechanical and Equipment Department (CMED) is owed close to $25 million by the Zimbabwe government and the Zimbabwe Electoral Commission (ZEC) for car rentals as far back as 2013, compromising its service delivery, according to a Parliamentary Portfolio Committee.
President Robert Mugabe was prepared to hand over power to Emmerson Mnangagwa way back in 2002 provided he was allowed to complete his presidential term which ended in 2008.