Struggling state-owned National Railways of Zimbabwe (NRZ) only has 60 operational locomotives, some as old as 50 years and owes its workers $90 million in unpaid salaries, according to a Parliamentary Portfolio Committee report.
The Depositors Protection Corporation (DPC) has recovered $35 million from six closed banks, but has only reimbursed $3.2 million to 11 000 depositors, chief executive John Chikura said.
The Zimbabwe Stock Exchange industrial index advanced 0.24 percent to close the week on 198.41 points, driven by slight gains in some heavyweight counters.
President Robert Mugabe was ready to retire more than a decade ago but he was only willing to leave office in a “blaze of glory,” not a “blaze of condemnation”.
A British Member of Parliament, Kate Hoey, this week asked Foreign and Commonwealth Minister Rory Stewart to spend British aid to Zimbabwe on voter education because President Robert Mugabe was refusing to implement the 2013 constitution.
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.