Vice-President Phelekezela Mphoko has trashed the country’s anti-corruption watchdog, the Zimbabwe Anti-Corruption Commission saying it is incapable of dealing with corruption as it has corrupt elements within it.
The ZSE industrial index advanced 14.29 percent to close the week on 418.39 points, pushed by significant gains in heavyweight counters while mining index also gained 22.98 percent to close on 122.57 points.
Zimre Holdings recorded a profit of $2.7 million from January to June 2017 compared to $200 000 in the same period last year driven by an improved performance of its reinsurance and general insurance units.
Axia Corporation reported a six percent increase in after tax profit to $15.3 million in the year ended June from $14.5 million last year on increased revenue.
Zimbabwe’s inflation for August was officially put at 0.14 percent but United States economist Steve Hanke says the country’s inflation is 242.72 percent.