Zimbabwe’s maize producer price of $390 per tonne is too high and makes agriculture based commodities uncompetitive for export, Agriculture, Mechanisation and Irrigation Development deputy Minister responsible for Livestock Paddy Zhanda said today.
The National Social Security Authority’s (NSSA) $18 million deal to recapitalize Cold Storage Commission (CSC) will go ahead after the High Court approved a scheme of arrangement between the meat processor and its creditors, an official has said. The state run pension fund expressed interest to bail out CSC in an equity investment arrangement earlier this year but the deal was held up by a creditor opposing the scheme of arrangement.
Zimbabwe is moving to inject additional bond coins valued at $3 million into the local market, it has emerged.
Finance Minister Patrick Chinamasa was yesterday given a torrid time over the present cash shortage in the country after legislators insisted that he must explain why there was no cash at the banks but plenty at Roadport and why people were being allowed to charge premiums of up to 35 percent.
Zimbabwe’s Highest Court has referred Higher Education Minister Jonathan Moyo back to the magistrate’s court to answer charges levelled against him by the Zimbabwe Anti-Corruption Commission.
Norton Legislator Temba Mliswa yesterday grilled Finance Minister Patrick Chinamasa to disclose where the First Lady Grace Mugabe and her son Russell Goreraza got the foreign currency to buy expensive luxury items like a house in South Africa, cars and a diamond ring.