Zimbabwe’s cash-strapped government has hired an additional 2 300 teachers, effectively lifting a ban on public sector recruitment put in place to reign in on spending. The southern-African nation whose budget is entirely funded on taxes is struggling to contain employment costs for its workforce estimated at over 250 000.
First Lady Grace Mugabe, who is accused of assaulting South African model Gabriella Engels with an electric cord a month ago, says she was actually attacked by the model.
The Zimbabwe Stock Exchange market capitalisation breached $8.1 billion on Friday as mainly local investors take refuge in assets to escape the chaos in the currency and money markets.
Zimbabwe war veterans’ leader Christopher Mutsvangwa has warned Defence Minister Sydney Sekeramayi to stay out of the association affairs and warned that the veterans who have sustained the Zimbabwe African National Union-Patriotic Front since 2000 will not back President Robert Mugabe next year.
Zimbabwe’s largest gold producer, Metallon has made its four mines stand alone operations in a restructuring exercise it says will increase efficiencies.
The Infrastructure Development Bank of Zimbabwe (IDBZ) achieved a 16 percent increase in net profit to $196 572 in the six months to June compared to $169 720 in the same period last year.