Estimator – Auto Body Centre Harare

Apprenticeship Trainee- Millwright

Graduate Trainee Program (Traineeship)

Students On Attachment (Various Departments)

Information Technology Graduate Trainee (Chisumbanje)

Counselor

Field Officer

Project Driver (Hwange)

Registered General Nurse (RGN) (Harare)

Intensive Care Nurse (ICN) (Harare)

Sales Agents x50

Tobacco Programmes Officer (Harare)

Payroll Clerk (Harare)

Library Technical Assistant

Assistant Binder

Broadcast Technician

Research, Innovation and Industry Linkage Officer (RIILO)

Safety, Health and Environmental (SHE) Officer

Procurement Officer

Intellectual Property Management Officer

Research Officers x2

Business Development Officers x2

Innovation Lead (Engineering)

Innovation Lead (Arts & Creative Industries)

Innovation Manager

Public Health Specialist: Prevention, Care & Treatment (Harare)

Director General (Harare)

The Government has accepted the resignation of the chairperson of the National Social Security Authority (NSSA), Percy Toriro, who recently offered to step down before the expiry of his term.
In his acceptance letter, Public Service, Labour, and Social Welfare Minister Paul Mavhima said:
<blockquote>
I write to accept your resignation as NSSA board chair as per your correspondence dated May 8, 2023.
I want to take this opportunity to thank you heartily for your exceptional service to NSSA and the nation at large.
Your unwavering commitment to the re-orientation and development of the NSSA board is invaluable, and I am deeply grateful for the time, energy, and expertise you have in the role (as) NSSA board chair.
While we are saddened about your departure, we understand and respect your decision to pursue other opportunities.
I, therefore, wish you all the best in your future endeavors and I am confident that you will continue to make Zimbabwe proud in your international engagements.
</blockquote>
Toriro, a renowned urban planning expert, has been out of the country for almost six months, doing urban planning consultancy in West Africa.
He was appointed to the NSSA board in May 2021 and his first five-year term was due to expire in 2026.
Toriro becomes the fifth person to leave the NSSA board in seven years, with board chairpersons and general managers hardly lasting more than two years on average.
A recent  <a href="https://www.businessweekly.co.zw/nssa-board-chair-toriro-steps-down-becomes-fifth-to-leave-in-just-seven-years/">Business Weekly</a> report claimed that NSSA was planning to axe Toriro at any time.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Pindula News

Govt Accepts Resignation Of NSSA Board Chairman Percy Toriro

Econet Wireless Zimbabwe increased its subscriber market to 69.9 percent in the fourth quarter of 2022.
The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) Sector Performance Report for the 4th Quarter of 2022, which was released last week, shows that Econet grew its customer base by 2.9 percent to 69.9 percent.
Econet’s subscriber base grew by 234 485 new subscribers to 9 988 105, up from 9 753 620 recorded in the third quarter of 2022.
NetOne and Telecel experienced a 2.4 percent and 0.5 percent fall in active customers, to end the quarter at 27.4 percent and 2.7 percent subscriber market share respectively.
NetOne’s subscriber base fell to 3 922 734 from 4 339 133, while Telecel lost 79 538 subscribers to close the year at 389 951. Part of the report reads:
Telecel and NetOne’s active subscriptions declined by 16.9 percent and 9.6 percent, respectively, which outweighed subscriber growth recorded by Econet and resulted in a total mobile subscriptions decline by a margin of 1.8 percent.
All three mobile operators experienced subscriber fluctuations during the course of 2022.
However, only Econet surpassed its December 2021 active subscriber base, according to the POTRAZ report.
Econet also continued to dominate the market share for internet and data traffic. Said POTRAZ:
<blockquote>
Econet continued to dominate the market share for internet and data traffic (74.5 percent), owing to its huge active mobile subscriber base as well as its wide network coverage.
However, in the quarter under review, Econet lost market share by a margin of 2.1 percent.
Conversely, NetOne gained market share by 2.1 percent whilst Telecel maintained its position.
</blockquote>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Econet Increases Subscriber Market Share To 69.9 Percent

Econet Wireless Zimbabwe increased its subscriber market to 69.9 percent in the fourth quarter of 2022.
The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) Sector Performance Report for the 4th Quarter of 2022, which was released last week, shows that Econet grew its customer base by 2.9 percent to 69.9 percent.
Econet’s subscriber base grew by 234 485 new subscribers to 9 988 105, up from 9 753 620 recorded in the third quarter of 2022.
NetOne and Telecel experienced a 2.4 percent and 0.5 percent fall in active customers, to end the quarter at 27.4 percent and 2.7 percent subscriber market share respectively.
NetOne’s subscriber base fell to 3 922 734 from 4 339 133, while Telecel lost 79 538 subscribers to close the year at 389 951. Part of the report reads:
Telecel and NetOne’s active subscriptions declined by 16.9 percent and 9.6 percent, respectively, which outweighed subscriber growth recorded by Econet and resulted in a total mobile subscriptions decline by a margin of 1.8 percent.
All three mobile operators experienced subscriber fluctuations during the course of 2022.
However, only Econet surpassed its December 2021 active subscriber base, according to the POTRAZ report.
Econet also continued to dominate the market share for internet and data traffic. Said POTRAZ:
<blockquote>
Econet continued to dominate the market share for internet and data traffic (74.5 percent), owing to its huge active mobile subscriber base as well as its wide network coverage.
However, in the quarter under review, Econet lost market share by a margin of 2.1 percent.
Conversely, NetOne gained market share by 2.1 percent whilst Telecel maintained its position.
</blockquote>
More: <a href="https://news.pindula.co.zw/">Pindula News</a>

First Lady Auxillia Mnangagwa has invited a Belarusian company that produces baby food, to consider expanding its operations to Zimbabwe.
Mnangagwa, who has been leading a delegation to Belarus that consists of her twin sons, Collins and Sean, visited the company, Bellakt.
Her visit to Belarus follows a similar visit by the country’s president Alexander Lukashenko to Harare in February.
Speaking in an interview with Belarus State-owned paper, BelTA, Mnangagwa said the expansion of Bellakt’s operations to Zimbabwe will also help other countries in the Southern African region. She said:
<blockquote>
I am very glad I have visited the company. We learned that the company produces baby food for children from 0 to 3 years old.
We want to establish cooperation with the company to consider the expansion of its production, and launch its production in Zimbabwe. This would contribute to the development of our country.
Zimbabwe is located in the center of the Southern African region. The countries around us could also benefit from such cooperation.
Both mothers and women in our country would also welcome such cooperation.
It is very important when a child’s health can be ensured from the earliest days.
</blockquote>
Grodno Oblast Governor Vladimir Karanik said Bellakt has enough capacity to meet Zimbabwe’s baby food requirements. Said Karanik:
<blockquote>
We discussed various options for cooperation between Grodno Oblast and Zimbabwe.
Mrs. Auxillia Mnangagwa pays a lot of attention to the health of women and the organization of children’s health.
This means good nutrition and access to medical care. Therefore, the production of baby food is, probably, one of the priorities of her visit.
We can fully satisfy Zimbabwe’s needs for baby food. The capacities of Bellakt are enough for that.
Given the geographical location of Zimbabwe and active interaction with its neighbours, it is proposed to consider the possibility of joint production, which will cover not only the needs of Zimbabwe but also other African countries.
</blockquote>
He said Bellakt plans to take part in the upcoming Zimbabwe International Trade Fair (ZITF).
Karanik said the exhibition will help the Belarusian company to continue the negotiations on the possibility of expanding to Zimbabwe.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Belarusian Infant Formula Manufacturing Company Plans To Expand To Zimbabwe

The Zimbabwe dollar this week remained below the 1 000 mark against US$1.00  on the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> foreign currency auction despite reaching at least 1 500 on the parallel market in recent days.
This Tuesday, 11 April 2023, the weighted average moved to US$1: ZWL$959.3111, up from US$1: US$1: ZWL$944.7133 which was set on 04 April 2023.
The RBZ said the highest rate received was 1 100.0000, while the lowest bid rate allotted was 950 000.
The central bank also said a total of US$20,568,055.34 was allotted today down from US$20,969,947.45, which was allotted last week.
The bulk of the allotment went to raw materials followed by machinery and equipment.
The total amount allotted for the Small to Medium Enterprises Forex Auction was US$2,241,706.95 down from US$2,379,980.25.
The total amount allotted on the Main Forex Auction was US$18,326,348.39 down from US$18,589,967.20.
<blockquote>
♦ Weighted Average Rate moved to 959.3111 from 944.7133.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials……………………………………(SME) US$780,117.95  (MA) US$10,145,544.10
Machinery and Equipment……………………..…(SME)US$680,281.10  … (MA)US$3,111,160.89
Consumables (Incl. Spares, Tyres, Electricals, etc)…(SME) US$303,176.35 … (MA) US$1,082,756.22
Services (Loans, Education, Dividends, Disinvestments…) (SME) US$130,751.42  … (MA) US$1,157,856.91
Retail and Distribution (Incl. Food, Beverages, etc)…(SME) US$231,773.24 … (MA) US$1,603,231.85
Lubricants ………………………………………………. (SME) US$40,000.00
Pharmaceuticals and Chemicals …………….… (SME) US$92,954.56  … (MA) US$480,479.95
Paper and Packaging …………………………… (SME) US$22,652.33 …. (MA) US$705,318.47
TOTAL Amount allotted for the SMEFX124/2023 ………..US$2,241,706.95
TOTAL Amount allotted for the MAIN FX130/2023 ………US$18,326,348.39
GRAND TOTAL AWARDED ………………………… US$20,568,055.34
</blockquote>
<h2>Notes</h2>
<blockquote>
1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.
2. Some Bids were allotted on a pro-rata basis.
</blockquote>

Zimbabwe Dollar Official Rate As Of 11 April 2023

Econet Wireless Zimbabwe has distanced itself from a message circulating on WhatsApp offering Independence Day Econet 10GB free data.
In a statement released this Monday, Econet said the “promotion” did not originate from them but was the work of scammers. It said:
<blockquote>
Beware of scam WhatsApp chain messages claiming that we are giving away free Econet Data.
Please be advised that these posts are fake, and you should ignore them.
We will communicate through our official channels if we are running any promotions.
</blockquote>
According to <a href="https://www.rd.com/article/how-to-identify-a-scammer/">Reader’s Digest</a>, here is how to identify scammers:
<ul>
<li>Online scammers often claim to be contacting you on behalf of businesses, brands or organizations you know and trust.</li>
<li>If a company or government agency unexpectedly call you on the phone, that’s a tip-off that a scammer may be on the other end of the line.</li>
<li>Beware of anyone who attempts to rush or push you into making a decision without first giving you time to verify and thoughtfully consider their requests.</li>
<li>Scan any emails, messages or online chats you receive for misspellings, grammatical errors, strange subject lines or other discrepancies.</li>
<li>Criminals build fake profiles on dating apps to lure you in with the promise of love, sometimes resorting to love bombing—and then try to coerce you into giving gifts or cash.</li>
<li>On social networks and fake online retailers that are created specifically to appear to be the real thing, it’s not uncommon to find goods at steep discounts. Trust your instincts, and know that if a price is too good to be true, it’s likely a scam.</li>
<li>A promise of easy money – No legitimate financial investment opportunity is sure to ever pay off 100% of the time—and cannot legally be advertised as “guaranteed” income—so be very leery of anyone promising such.</li>
<li>Requests an unusual payment option – It’s not uncommon for romance scammers or someone who’s hacked a friend’s social media account to request that you send money using peer-to-peer payment systems (PayPal, Venmo, Cash App, etc.), gift cards, Western Union, wire transfers or cryptocurrency tokens.</li>
</ul>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Econet Independence Day Free 10GB Data Message Is Fake

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said inflation has stabilised as 70% of all transactions are in US dollars, reported <a href="https://www.newsday.co.zw/business/article/200009985/inflation-is-not-on-paper-you-feel-it-rbz-chief">NewsDay</a>.
Addressing delegates at the release of the Confederation of Zimbabwe Industries (CZI) 2022 Manufacturing Sector Survey last Thursday, Mangudya, however, acknowledged that there has been a widening between the official forex rate and the parallel market rate. He said:
<blockquote>
We have seen the parallel forex market widening over the past three weeks and we have an idea of what is causing it.
Our job is to make sure that we rein in that disparity between the official exchange rate and parallel market (one) and, of course, the effects to make sure it doesn’t go into the private system.
But on inflation, we are happy that it has been going down from about 30%, month-on-month in July 2022, to 0.7% in January, month-on-month, -1,6% in February, and 0,1% in March this year.
Inflation, Hon minister (Industry and Commerce Minister Sekai Nzenza) and colleagues is — if you are in hyperinflation you will feel it. You don’t see it on paper. Inflation is felt.
If you don’t feel inflation — never worry about people and statistics and don’t worry about historical issues, worry about month-on-month inflation.
</blockquote>
According to Zimstat, the annual inflation for March was 87.6%, down from 92.3% in February, while the month-on-month inflation was 0.1% last month from -1.6% in the comparative prior period.
The statistics were based on the new blended calculation measured using a weighted average of items priced in Zimbabwean dollars and United States dollars.
Before the new “blended rate”, inflation was being measured using the local currency only.
A fall in inflation does not mean prices are decreasing. Rather, it reflects the slow pace of price increases.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Zimbabweans Not Feeling Inflation - Mangudya

Zimbabwe’s richest man <a href="https://www.pindula.co.zw/Strive_Masiyiwa">Strive Masiyiwa</a> is now among the world’s top 20 black billionaires following a strong rebound in his net worth since the beginning of 2023.
Masiyiwa’s net worth dropped by $1.5 billion last year, but it has now rebounded due to an increase in the share prices of his publicly traded companies on the Zimbabwe Stock Exchange (ZSE), specifically <a href="https://www.pindula.co.zw/Econet_Wireless_Zimbabwe">Econet Zimbabwe</a> and <a href="https://www.pindula.co.zw/EcoCash">EcoCash Holdings</a>.
According to Forbes, Masiyiwa has seen his net worth increase by $800 million since the start of 2023 from $1.2 billion at the start of the year to $2 billion as of April 5, <a href="https://billionaires.africa/2023/04/05/strive-masiyiwa-zimbabwes-wealthiest-man-bounces-back-with-800-million-net-worth-increase/">Billionaires Africa</a> reported.
The strong rebound in his net worth cements his position as one of Africa’s richest billionaires and also one of the world’s 19 Black billionaires.
Masiyiwa’s billion-dollar fortune comes partly from owning a 52.85% share in Econet Zimbabwe, which is the top telecommunications service provider in the country, and a 30% share in EcoCash Holdings, a company that offers mobile money transfer services.
Through his interest in Econet Global Limited, a diversified telecom group with operations and investments in Africa, Europe, South America, and the East Asia-Pacific Rim, the Zimbabwean billionaire also has a $145 million stake in Liquid Intelligent Technologies.
Since the beginning of the year, the share price of Econet Zimbabwe had risen by 160.37 per cent, from ZWL96.28 ($0.30) on January 1 to ZWL250.68 ($0.78) as of April 5.
The share price of EcoCash Holdings had increased by 69.55 per cent, from ZWL40.081 ($0.12) to ZWL67.96 ($0.21) as of April 5. 
<a href="https://zero.pindula.co.zw/">More Pindula News</a>

Strive Masiyiwa Now Among The World’s Top 20 Black Billionaires

Commuter omnibus operators in Bulawayo have raised their fares, with prices ranging from $600 to $1,000 per trip, depending on the time and distance, prompting some commuters to call for the government to re-ban the kombis. This is up from the previous fare of $500.
Fares are highest during peak hours and when Zupco buses are not available. Commuters feel the operators have not learned their lesson. One angry commuter told the <a href="https://www.chronicle.co.zw/ban-kombis-again-irate-commuters/">Chronicle</a>:
<blockquote>
During the Covid-19 era the Government banned kombis because of among other things, wantonly increasing fares.  Operators should use the official bank-rate. Why are they suddenly increasing fares when they know most of us earn RTGS and fuel prices have remained steady for the past months?
</blockquote>
Mr Ephraim Dube, a resident of Pumula South, expressed outrage at the increased kombi fares, as they now consume most of his salary. He noted that some suburbs still charge normal prices, which is frustrating. He is worried about the upcoming school opening week, as he and his children all study in town and the increased fares will be difficult to afford. He mentioned that one of his children takes two kombi trips per day, making it even more challenging. If he lived closer to town, like in Mpopoma, he would walk and not have to deal with the high fares.
Mrs Elsie Moyo, a commuter from Magwegwe West, accused kombi operators of contributing to inflation. She stated that when they increase their fares, moneychangers also raise their rates. She believes that kombi operators should be monitored and punished for raising their rates in bond currency. Mrs Moyo feels that the operators do this intentionally to force people to pay in foreign currency, as they raise their rates and leave commuters with no other option.
Kombi associations Tshova Mubaiwa and Bupta stated that their local currency charges are based on the prevailing exchange rates. Mr Ndabazabo Mabunda, the marketing director of Tshova Mubaiwa, explained that the fares have not increased, but the rate has changed due to the influence of commuters.
Mabunda claimed that commuters often refuse to accept local currency change, claiming it is too little, so the kombi operators end up charging more to balance their money. He emphasised that the high local rate charges are mainly due to the behaviour of the commuters, as the fares themselves have not been increased. The Bupta administration director, Mr Alfred Ncube, said the association had not increased fares but operators were working with the existing rate of exchange.
The Zimbabwe dollar has been shedding value against other currencies prompting service providers to raise charges and fees. However, there are some service providers who are raising prices in both local and foreign currencies. Kombi operators often raise their fares during holidays such as Easter and Independence due to high demand.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

Commuters Urge Government To Re-ban Kombis As Fares Go Up

The <a href="https://www.pindula.co.zw/Zimbabwe_Energy_Regulatory_Authority">Zimbabwe Energy Regulatory Authority (ZERA)</a> lowered the price of Liquefied Petroleum (LP Gas) for April 2023. The new prices are US$2.02 per kg and ZWL$1 911.28 per kg, down from the previous prices of US$2.06 per kg and ZWL$1 861.35. In an update seen by Pindula News, the regulator said:
<blockquote>
Operators should prominently display the prices of LPG at their retail outlets in clear, readable letters. It is allowed to sell LPG below the prescribed prices depending on trading advantages. Stakeholders can verify petroleum price releases by ZERA on their official website, Facebook or Twitter.
</blockquote>
ZERA also advised members of the public to always purchase their LPG from a registered LPG retailer to avoid accidents. 
As of April 3, 2023, the average global price of LPG is US$0.76 per litre, but prices vary widely between countries. Generally, wealthier countries have higher LPG prices, while poorer countries and those that produce and export natural gas have lower prices. These price differences are due to varying taxes and subsidies. Despite all countries having access to the same natural gas prices on international markets, they choose to impose different taxes, resulting in different retail prices for LPG.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

ZERA Reduces Price Of LP Gas

The <a href="https://www.pindula.co.zw/Zimbabwe_Energy_Regulatory_Authority">Zimbabwe Energy Regulatory Authority (ZERA)</a> has reduced the prices of diesel in its latest fuel prices update, which came into effect on April 6, 2023. The previous update was released on March 6, 2023. In a statement seen by Pindula News, the regulator said the prices will be effective until May 4, 2023. Reads the statement:
<blockquote>
<h2>PETROLEUM PRICES – APRIL 2023</h2>
Please be advised of the fuel prices for diesel and blend effective 6 April 2023. The prices are as follows:
Diesel 50 (ZWL/litre) ZWL1 546.59 up from ZW$1 499.26 or US$1.64 per litre down from US$1.67
Blend – E10 (ZWL/litre) ZWL US$1 522.76 or US$1.61 per litre
</blockquote>
ZERA has announced that the prices for petrol and diesel are based on M-1 which is a way to measure the amount of the most easily accessible money in an economy. 
The blending ratio is at E10 and operators can sell petroleum products below the prescribed prices depending on their trading advantages. They must display the prices prominently as provided for by fuel pricing regulations. Stakeholders can verify petroleum prices on the official ZERA website, Facebook or Twitter.
As of 03 Apr 2023, the average price of diesel around the world was 1.28 United States dollars while the average price of petrol was 1.32 United States dollars per litre.
In South Africa, petrol is being sold at ZAR22.61 or US$1.262 per litre, while diesel is being sold at ZAR22.946 or US$1.281 per litre. These prices include all taxes and fees and are at the retail (pump) level.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

Fuel Prices For April 2023: ZERA Reduces Diesel Prices

The <a href="https://www.pindula.co.zw/Zimbabwe_Energy_Regulatory_Authority">Zimbabwe Energy Regulatory Authority (ZERA)</a> has reduced the prices of diesel in its latest fuel prices update, which came into effect on April 6, 2023. The previous update was released on March 6, 2023. In a statement seen by Pindula News, the regulator said the prices will be effective until May 4, 2023. Reads the statement:
<blockquote>
<h2>PETROLEUM PRICES – APRIL 2023</h2>
Please be advised of the fuel prices for diesel and blend effective 6 April 2023. The prices are as follows:
Diesel 50 (ZWL/litre) ZWL1 546.59 up from ZW$1 499.26 or US$1.64 per litre down from US$1.67
Blend – E10 (ZWL/litre) ZWL US$1 522.76 or US$1.61 per litre
</blockquote>
ZERA has announced that the prices for petrol and diesel are based on M-1 which is a way to measure the amount of the most easily accessible money in an economy. 
The blending ratio is at E10 and operators can sell petroleum products below the prescribed prices depending on their trading advantages. They must display the prices prominently as provided for by fuel pricing regulations. Stakeholders can verify petroleum prices on the official ZERA website, Facebook or Twitter.
As of 03 Apr 2023, the average price of diesel around the world was 1.28 United States dollars while the average price of petrol was 1.32 United States dollars per litre.
In South Africa, petrol is being sold at ZAR22.61 or US$1.262 per litre, while diesel is being sold at ZAR22.946 or US$1.281 per litre. These prices include all taxes and fees and are at the retail (pump) level.
<h2><a href="https://news.pindula.co.zw/">More Pindula News</a></h2>

The cost of living in Zimbabwe has gone up following a sharp rise in prices of nearly all basic grocery items this week.
Last week, the Zimbabwe National Statistics Agency (ZIMSTAT) announced that annual inflation slowed to 87.6% in March from 92.3% in February this year.
However, the Zimbabwe dollar continues to lose value against all major currencies at both the official and parallel markets.
On the RBZ auction system this week, the Zimbabwe dollar plunged to ZWL$944.71:US$1 from ZWL$671: US$1 in January this year.
According to <a href="https://businesstimes.co.zw/zimdollar-hits-new-low/">Business Times</a>, on the parallel market, the Zimbabwe dollar was this week trading between ZWL$1 600:US$1 and ZWL$1 700:US$1.
In an interview with Business Times on Wednesday, Consumer Council of Zimbabwe executive director Rosemary Mpofu said the cost of living has gone up. She said:
<blockquote>
The cost of living as measured by the CCZ’s low-income urban earner monthly basket for a family of six increased ZWL$489 831 by end of March from a figure of ZWL$441 036 by the end of February, showing an increase of ZWL$48 795.
The reasons for the increase varied from localised high inflationary pressures, exchange rate volatility, and external factors.
Even with smaller-denominated gold coins, trying to curb inflation amid a slump in the country’s currency, we still noticed a huge change in prices.
We see a lot of activity on the parallel market exchange rate which was a major factor in driving inflation.
In terms of the US$ basket, we also noticed a huge change as the basket moved to US$478.82 from US$507.67.
This was a huge increase and it is not good for the consumers.
</blockquote>
A survey by Business Times this week shows that the prices of basic grocery items have gone up:
<ul>
<li>2-litre bottle of cooking oil – from ZWL$3 649.99 to ZWL$4 749.99.</li>
<li>2 litre Mazoe drink – from ZWL$3 600 last week to ZWL$4 149.99</li>
<li>white bread – from ZWL$989 to ZWL$1 399.99</li>
<li>a kilogramme of beef – from ZWL$4132.99 last week to ZWL$6 899.99</li>
</ul>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Cost Of Living Goes Up As Zimdollar Hits New Low

State-owned mobile network operator NetOne has notified its customers it will increase tariffs tomorrow, 7 April 2023.
NetOne made the announcement through a statement posted on its social media pages this Thursday. Reads the statement:
<blockquote>
Dear Valued Customer, Please be advised that we are reviewing our Data, Voice, SMS and Out Of Bundle tariffs with effect from 7 April 2023.
To view all new tariffs, please dial *171# from the 7th of April 2023.
</blockquote>
This comes after the Postal and Telecommunications Regulatory Authority (POTRAZ) approved tariff increases in February. POTRAZ stated that another increase would be implemented in April.
In a statement to clients in February, Liquid Intelligent Technologies said POTRAZ had granted telecom companies the greenlight to hike tariffs by 50% that month and another 50% tariff increase effective on 1 April 2023. It said:
<blockquote>
This notice serves to inform you that the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has approved an industry-wide 50 percent tariff increase with immediate effect and another 50 percent effective on 1 April 2023 for products and services.
</blockquote>
The high rate of inflation, prolonged power cuts and a volatile exchange rate have pushed operation costs forcing companies to push the costs to consumers.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

NetOne Hikes Tariffs Effective 01 April 2023

State-owned mobile network operator NetOne has notified its customers it will increase tariffs tomorrow, 7 April 2023.
NetOne made the announcement through a statement posted on its social media pages this Thursday. Reads the statement:
<blockquote>
Dear Valued Customer, Please be advised that we are reviewing our Data, Voice, SMS and Out Of Bundle tariffs with effect from 7 April 2023.
To view all new tariffs, please dial *171# from the 7th of April 2023.
</blockquote>
This comes after the Postal and Telecommunications Regulatory Authority (POTRAZ) approved tariff increases in February. POTRAZ stated that another increase would be implemented in April.
In a statement to clients in February, Liquid Intelligent Technologies said POTRAZ had granted telecom companies the greenlight to hike tariffs by 50% that month and another 50% tariff increase effective on 1 April 2023. It said:
<blockquote>
This notice serves to inform you that the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has approved an industry-wide 50 percent tariff increase with immediate effect and another 50 percent effective on 1 April 2023 for products and services.
</blockquote>
The high rate of inflation, prolonged power cuts and a volatile exchange rate have pushed operation costs forcing companies to push the costs to consumers.
More: <a href="https://news.pindula.co.zw/">Pindula News</a>

NetOne Hikes Tariffs Effective 07 April 2023

The United States dollar has replaced the Zimbabwean dollar as the most-used currency in the southern African nation for a second time.
According to a <a href="https://www.bnnbloomberg.ca/us-dollars-dethrone-zimbabwe-s-currency-for-second-time-1.1905097">Bloomberg</a> report, US dollars were utilised for 77% of transactions this year, surpassing the proportion that was conducted in the local currency for the first time since it was reissued in June 2019.
Zimbabwe abandoned its own currency in 2009 and replaced it with the US dollar and other foreign currencies after hyperinflation had rendered it worthless.
The local currency was reintroduced in 2019 in an attempt to revive the stagnating economy.
The Zimbabwean dollar has depreciated 91% against the US dollar in the last two years to trade at 944 at the official rate and about 1 600 on the parallel market.
Local businesses now charge in greenbacks for everything from food, and fuel to medicines.
Cement maker PPC Ltd.’s local unit said in its latest financial statement, that 79% of sales were in US dollars.
Speaking to Bloomberg, Gift Mugano, an economics professor at the Durban University of Technology, said:
<blockquote>
Passports are paid for in dollars, some taxes in foreign currency, fuel is in dollars and you can also pay toll gates in dollars.
</blockquote>
Prosper Chitambara, a Harare-based economist, said “the economy for all intents and purposes is largely dollarized”.
The surge in dollar usage in Zimbabwe comes as China has made the internationalization of the yuan a top priority.
Countries including Russia, India and Saudi Arabia have sought to include non-dollar payments in their financial systems to reduce their dependence on the US.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

US Dollar Replaces Zimbabwe Dollar For A Second Time

Gold deliveries to Fidelity Gold Refinery (FGR) fell 20% to 6.194 in the first quarter of 2023 from the same period in 2022 when deliveries were 7.694 tonnes.
This has been attributable to heavy rains which affected mining.
Speaking to <a href="https://businesstimes.co.zw/zims-gold-deliveries-plunge/">Business Times</a>, FGR general manager Peter Magaramombe said despite the plunge in gold deliveries in the first quarter of this year, there were some improvements in March. He said:
<blockquote>
Gold output has declined for the first quarter ended March 31 2023 to 6.194 tonnes from 7.694 tonnes during the comparable period last year due to heavy rains during the first two months of the year.
As you can see, gold deliveries increased to 2.4 tonnes in March 2023 from 1.89 tonnes in February this year.
Though deliveries are still in the negative compared to the same period, there were positive steps in the right direction in March.
</blockquote>
He said small-scale gold miners, who contributed over 60% of the total gold production, were especially affected by rains.
Large-scale producers delivered 2.762 tonnes while small-scale miners delivered 3.431 tonnes to FGR during the first quarter of 2023.
Gold is Zimbabwe’s largest export, and in 2020, the country sold US$2.14 billion worth of gold, ranking it 35th among the world’s gold exporters.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Gold Deliveries To Fidelity Fall

<a href="https://www.pindula.co.zw/Masimba_Holdings_Limited">Masimba Holdings Limited (MHL)</a>, an industrial and contracting firm, is working on projects worth US$104 million. The order book includes projects in various industries such as roads and earthworks, water, housing, mining, and energy infrastructure. These projects are evenly distributed between the public and private sectors.
MHL’s chairperson, Greg Sebborn, stated in the company’s financial results for the year ending December 31, 2022, that the current state of infrastructure in the country created opportunities for the firm. <a href="https://www.newsday.co.zw/business/article/200009751/masimba-sits-on-us104m-order-book">NewsDay</a> quotes him as saying:
<blockquote>
The group has a firm order book valued at US$104 million as at the reporting date, with tenures of between six to 18 months. The order book, which is evenly balanced between private and public sectors, is spread over energy, housing, buildings, roads, mining and water infrastructure.
The current state of infrastructure in the country presents opportunities for the group as evidenced by a long project pipeline and increased tendering activities. Unlocking of these opportunities is dependent on the continued stability of the economy. In this regard, we implore the authorities to continue pursuing a balanced and sustainable fiscal policy.
</blockquote>
The government needs a total of US$19.68 billion for infrastructure and utilities from 2021-2025. For 2023 alone, the sector requires US$5.07 billion.
Sebborn praised the government for its ongoing investment in infrastructure development, which he sees as crucial for economic development.
The group’s revenue increased by 83% to ZW$ 46.33 billion during the reviewed period, up from ZW$ 25.28 billion in 2021. This growth was driven by a strong order book in segments such as roads and earthwork, mining, buildings, and housing infrastructure.
Sebborn said the financial position of the group strengthened to ZW$ 58.9 billion from a 2021 comparative of ZW$ 39.2 billion, which was in line with the company’s growth and value strategies.
What triggered the strength:
Sebborn stated that the total capital expenditure for property, plant, and equipment, as well as investment property, amounted to ZW$ 4.4 billion and ZW$ 66 million, respectively, in comparison to ZW$ 2.6 billion and ZW$ 1 billion in 2021. This translates to a total of US$6.7 million in 2022, down from US$11.3 million in 2021.
Additionally, the increase in financial position is due to the revaluation and fair value measurement of property, plant and equipment, and investment property. The revaluation surplus and fair value gains in 2022 were $8.3 billion and $4.3 billion, respectively, compared to $156 million and $1.3 billion in 2021.
Sebborn stated that the group improved its liquidity position, enabling it to manage any short-term debts that may arise. He also noted that the temporary suspension of payments was one of several measures taken by fiscal authorities to reduce speculative trading.
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Masimba Holdings Working On Projects Worth US$104 Million

<a href="https://www.pindula.co.zw/ZINWA">Zimbabwe National Water Authority (ZINWA)</a> has raised prices for treated and untreated water starting in April, citing higher costs for fuel, electricity, and treatment chemicals. The organization says it aims to balance service provision and affordability for consumers, the Chronicle reported citing a statement by ZINWA. Reads the statement:
<blockquote>
The tariff review is in response to the recent rise in the cost of key water provision inputs such as fuel, electricity, water treatment chemicals and spares as well as the need for Zinwa sustainably deliver service. The new tariffs will therefore align the price of water to the cost of production.
</blockquote>
ZINWA has raised the prices for treated water for both prepaid and postpaid clients. Post-paid clients will see the new tariff on their April bill (which they will receive in May 2023), while prepaid clients will see the new tariff immediately.
ZINWA also appealed to all customers whose accounts were in arrears, to clear their debts as there exists a strong correlation between service delivery and payment for services.
Prices for raw water:
1). Industry will now pay ZW$10 244.03 per megalitre 
2). Commercial agriculture estates will now pay ZW$13 829.44 per ML. 
3). A2 farmers will now pay ZW$10 244.03 per ML. 
4). Local authorities will pay $10 244.03 per ML. 
5). A1 farmers will pay $1 946.36 per ML. 
6). The mining sector will now pay $2 298.84 per ML.
7). Communal farmers will pay $1 536.60 per ML.
Prices for treated water:
a). ZINWA is now charging ZW$862.06 per cubic metre for the 1-10 cubic metre band for domestic use. 
b). For the band of 11-20 cubic metres, users will now pay ZW$1 379.30 per cubic metre and 
c). The fixed charge is now ZW$2 448. 
d). For 21-30 cubic metres users will pay ZW$1 494.24 per cubic metre.
e). For 31-40 cubic metres, users will pay ZW$1 609.18 per cubic metre. 
f). For 41 -50 cubic metres users will now pay ZW$1 724.13 per cubic metre.
g). For all consumption over 50 cubic metres, users will now pay ZW$1 781.60 per cubic metre.
h). The Government will now pay ZW$1 839.07 for a band above 50 cubic metres.
i). Parastatals will pay ZW$1 839.07 per cubic metre for a band also above 50 cubic metres.
j). Schools, churches and institutions will now pay ZW$1 264.36 per cubic metre for the 1-25 cubic metre band, ZW$1 379.30 per cubic metre for the 26-50 cubic metre band and ZW$1 724.13 per cubic metre for 51-100 cubic metres.
k). Mines will pay ZW$2 298.84 per cubic metre for treated water.
l). Industry will pay ZW$2 298.84 per cubic metre.
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ZINWA Has Raised Prices For Treated And Untreated Water

The <a href="https://www.pindula.co.zw/Insurance_and_Pensions_Commission">Insurance and Pensions Commission (IPEC)</a> has published a list of licensed Life Assurance companies warning insurance consumers against conducting business with unlicensed entities. In a statement seen by Pindula News, IPEC urged those who bought insurance policies from entities that are not on the list, to report to the Commission. The life assurance companies on IPEC’s list were licensed as of 31 DECEMBER 2022.
Life Assurers
I. CBZ Life Limited 
2. Doves Life Assurance
3. Econet Life (Pvt) Ltd Funeral Assurers
4. Evolution Health &amp; Life
5. Fidelity Life Assurance
6. First Mutual Life Assurance Services
7. Heritage Life Assurance
8. Nhaka Life Assurance (Pvt) Ltd
9. Nyaradzo Life Assurance
 10. Old Mutual Life Assurance
11. ZB Lite Assurance 
12. Zimnat Life Assurance
Short Term Insurers
1. AFC Insurance
2. Alliance Insurance
3. Allied Insurance Ltd
4. CBZ Insurance Limited
5. Cell Insurance
6. Champions Insurance
7. Clarion Insurance
8. Credit Insurance Zimbabwe
9. Econet Insurance 
10. Empaya Insurance Company
11. Evolution Insurance 
12. Export Credit Guarantee Company of Zimbabwe [Pvt] Ltd
13. FBC Insurance
14. Hamilton Insurance
15. Nicoz Diamond Insurance
16. Old Mutual Insurance 
17. Quality Insurance
 18. Safel Insurance
19. Sanctuary Insurance
20. Zimnat Lion Insurance
Funeral Assurers
1. First Funeral Assurance 
2. Foundation Mutual Society 
3. Moonlight Funeral Assurance &amp; Services 
4. Orchid Funeral Assurance
 5. Passion Funeral Assurance 
6. Ruvimbo Funeral Assurance
7. Sunset Funeral Assurance 
8. Vineyard Funeral Assurance 
Microinsurers
1. Bayce Microinsurance 
2. Clientsure microinsurance 
3. Coverlink Microinsurance (Pvt) Ltd 
4. EBA Microinsurance  
5. Ethical Microinsurance 
6. Golden Knot microinsurance 
7. Highground Microinsurance 
8. Evolution Microinsuronce  
9. Microsure Microinsurance  
10 Rise Capital microinsurance
 11. Zambuko Microinsurance
Multiple Agents
1. Acts Multiple Agents
 2. AGRIMED Multiple Agents  
3. Agrostrong Multiple Agents
4. Chartered Risk Services multiple Agents
 5. Connect Multiple Agents 
6. Distinct Multiple Agents 
7. Enpasent 
8. Geneinsure Multiple Agents
 9. Henfields Multiple Agents 
10. Leadwoys Multiple Agents 
11. Lions Risk multiple Agents 
12. Macfam Multiple Agents
 13. Neshgroup Multiple Agents
 14. NMB Multiple Agents 
15. Primax multiple Agents 
16. RapidPay Multiple Agents 
17. Rise Multiple Agents Limited 
18. Samaz Multiple Agents 
19. Snit Multiple Agents 
 20. Stanbic Multiple Agents 
21. STF Capital 
22. Sundry Multiple Agents
23. Superflex Link Multiple Agents
24. Telone Multiple Agents
25. Vonveld Multiple Agents
26. Wonayi multiple Agents 
27. Zim Selector Multiple Agents
28. Zimpost Multiple Agents
29. Zero Seven Zero Nine Multiple Agents
Insurance Brokers
1. Amour Khan Insurance Brokers (Pvt) Ltd 
2. Bright Insurance Brokers 
3. Broksure Insurance Brokers (Private) 
4. Capital Insurance Brokers (Private) 
5. Care Insurance Brokers (PvT) Ltd  
6. CBZ Risk Advisory Services (Pvt) Ltd
7. Coverlink Insurance Brokers (Pvt)
8. Eaton &amp; Youngs (Pvt) Ltd
9. Entwide Insurance Brokers (Pvt)  Limited 
10. Eureka Insurance Brokers (Pvt) Ltd
11. First Sun Alliance Insurance Brokers (Pvt)  Limited
12. Firstlink Insurance Brokers (PO) Ltd
13. Glenrand M.I.B Zimbabwe (Pvt)  Limited
14. Goldstick Insurance Brokers (Pvt)
15. HRIB (Pvt) Ltd
 16. Hunt Adams &amp; Associates (Pvt) Ltd
17. L.A.Guard Insurance Brokers (Private) Limited
18. Minerva Risk Solutions
19. Momentum Insurance Brokers IPA)
20. Paul Mkondo Insurance Brokers (Pvt) Ltd
21. Perpro Insurance Brokers (Pvl) Ltd
22. Progressive Insurance Brokers (Put) Ltd
23. Rainbow Insurance Brokers (Pvl) Ltd
24. Safari Insurance Brokers Limited T/As
25. Satib Insurance Brokers 
26. TIB Insurance Brokers 
27. Victory Insurance Brokers (Put) Ltd
28. WFDR (Pvl) Ltd) 
29. Zimbabwe Insurance Brokers Limited
Underwriting Management Agents
1. Bluefin Risk metrics 
2. SAUZGRUMA Outrisk
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IPEC Publishes List Of Licensed Life Assurance Companies

Professor <a href="https://www.pindula.co.zw/Mthuli_Ncube">Mthuli Ncube</a>, the minister of Finance and Economic Development, has announced that 13 companies have been blacklisted for channelling funds to the illegal foreign exchange market. In a statement seen by Pindula News, Ncube said the 13 companies blacklisted include some transport operators who have been funding the illegal forex market. Reads the statement:
BLACKLISTING OF CONTRACTORS WHO CHANNEL FUNDS TO THE ILLEGAL FOREIGN EXCHANGE MARKET
Following the blacklisting of some companies through my Statement dated 09 November 2022, Government is concerned and disturbed to note the continuation of indecorous behavior by some companies who continue to fuel illegal parallel market activities. This waters down Government efforts towards the stabilization of the local currency and containment of inflation, thereby pervading the economy at the expense of the generality of citizens of Zimbabwe. Such behavior cannot be condoned. A total of 13 companies have been identified by the Financial Intelligence Unit (FIU) as being involved in this unlawful conduct as follows:
i. Casha Designs (Pvt) Ltd; 
ii. Re-net Technology (Pvt) Ltd; Malfran Investments (Pvt) Ltd;
 iv. Difflock Construction (Pvt) Ltd; 
v. Staman Investments (Pvt) Ltd;
 vi. Guide Marketing (Pvt) Ltd; 
vii. Nodship Investments Pvt Ltd; 
viii. Infinity Hire Pvt Ltd; 
ix. Nomalanga Marketing Pvt Ltd; 
x. Gift Mwayera t/a Mwayera Transport Pvt Ltd; 
xi. Mukota Haulage and Busses Pvt Ltd; 
xii. Ofixmore Marketing Pvt Ltd 
xiii. Blecia Investments
Having monitored various financial transactions with a view to plug parallel market dealings, the FIU has observed that these companies are siphoning their proceeds to the parallel market, thus, triggering domestic inflationary pressures.
Resultantly, Government has blacklisted the aforementioned companies so as to maintain stability in the foreign currency market and curb inflation. In the same vein, the Procurement Regulatory Authority of Zimbabwe (PRAZ) will be advised to permanently remove the entities from the list of potential service providers to Government. Government remains committed to maintaining price stability, restoring market discipline and engendering market confidence. Further, Government is devoted towards implementing and enforcing informed measures aimed at creating a conducive environment to sustainably grow the economy in line with the macro-economic targets under the National Development Strategy 1, which are key for the realization of the aspirations of Vision 2030.
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13 Companies Blacklisted For Channelling Funds To The Illegal Foreign Exchange Market

Several ZSE-listed companies from diverse sectors of the economy have declared significant profits during the ongoing reporting period.
The companies are in the process of paying dividends – a payment made by a corporation to its shareholders, usually as a distribution of profits.
When a corporation earns a profit or surplus, the corporation can re-invest the profit in the business and pay a proportion of the profit as a dividend to shareholders.
<a href="https://www.pindula.co.zw/Rainbow_Tourism_Group">Rainbow Tourism Group (RTG)</a>, one of the companies listed on the Zimbabwe Stock Exchange (ZSE), declared a final dividend of ZW$500 million out of which US$250 000 will be paid in foreign currency and the balance in local currency. In its financial statement for the period ended 31 December, the hospitality group said:
<blockquote>
The declared amount will bring the total dividend to shareholders for the year to ZW$880 million (equivalent to US$1.5 million), of which US$500 000 is in foreign currency.
</blockquote>
<a href="https://www.pindula.co.zw/First_Mutual_Holdings_Limited">First Mutual Holdings</a> board resolved that the final dividend of $280.2 million (which is made up of ZW$146.3 million and US$146 344) be declared from the profits of the company. This is in addition to the US$109 758 and ZWL73.2 million paid as an interim dividend.
<a href="https://www.pindula.co.zw/Mashonaland_Holdings_Limited">Mashonaland Holdings</a> saw an annual inflation-adjusted profit of $17.2 billion, compared to a loss of $4.8 billion in the prior year. It declared a final dividend of $212.40 million. A component in the amount of US$200 000 will be paid in foreign currency.
Amalgamated agriculture company, <a href="https://www.pindula.co.zw/TSL_Limited">TSL Limited</a> directors declared a final dividend of US$0.0012 per share which is in respect of the financial year ending 31 October 2022 and will be payable in full to all shareholders of the Company registered at the close of business on 14 April 2023.
<a href="https://www.pindula.co.zw/POSB">POSB</a> declared a dividend of ZWL145 257 029.
The <a href="https://www.pindula.co.zw/Victoria_Falls_Stock_Exchange">Victoria Falls Stock Exchange (VFEX)</a> listed resources group, Caledonia announced a US14 cents quarterly dividend for the period to December 31.
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Several ZSE-listed Companies Declare Profits

Twenty-eight-year-old Vimbai Masiyiwa has said she emulates her father, Strive Masiyiwa, the founder of Econet Wireless.
Vimbai is the executive director of Batoka Hospitality, the first black, female-owned safari lodge group in Africa.
She and her mother, Tsitsi Masiyiwa, founded Batoka Hospitality, a luxury eco-tourism and community development group. Their latest project, the Zambezi Sands River Lodge, is a safari lodge located at the western end of the Zambezi National Park and will open in June. The project focuses on community-led initiatives centred around women’s empowerment.
She had worked with her father for some years, starting as an intern at 14, throughout her university years and working as a special assistant for him until almost two years ago when she fully stepped into her role at Batoka.
She says she’s learnt from her dad to be a great listener, and says her father always hears people out and then says his piece. Vimbai told <a href="https://www.newzimbabwe.com/https-www-newzimbabwe-com-vimbai-masiyiwa-uplifts-local-communities-through-her-safari-lodge-group/">NewZimbabwe</a>:
<blockquote>
I used to jump into saying what it is I wanted, being very straightforward but as I’ve grown over the last few years I’ve really mirrored exactly what I see him do. I’m sure if you put us in the same room and put screen between us and had someone talk to us we would look identical, I mirror everything … from how he sits to how he responds just because I’ve seen him grow in business over the years and I’ve seen what has worked. I’m an observer and I learn by observing. I’m a bit of a copycat in that sense.
</blockquote>
Vimbai has lived in Zimbabwe, South Africa and the United Kingdom (UK), and is currently based in the UK and the US. 
Strive Masiyiwa is a prominent Zimbabwean businessman, entrepreneur, and philanthropist. He also sits on several respectable boards which include the Bill and Melinda Gates Foundation, National Geographic, Unilever, and Netflix. He has been on The Rockefeller Foundation and is the only African member of the United States Holocaust Memorial. He is also the chairman emeritus of the Alliance for a Green Revolution in Africa and African Union Special Envoy to the continent’s response to COVID-19.
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Vimbai Masiyiwa Says She Emulates Her Father

<a href="https://www.pindula.co.zw/Willowvale_Motor_Industries">Willowvale Motor Industries (WMI)</a> is set to resume assembling vehicles this year after ceasing vehicle assembly in 2017. 
The company is a subsidiary of the Industrial Development Corporation of Zimbabwe (IDCZ).
WMI acting managing director, Mr Dzi Matanhire, said the assembly of pick-up trucks would resume in August this year, according to <a href="https://www.herald.co.zw/willowvale-rebounds-to-start-assembling-vehicles/">The Herald</a>.
Matanhire told the Parliamentary Portfolio Committee on Industry and Commerce during a tour of Deven Engineering and Willowvale Motor Industries in Harare last week: 
<blockquote>
Our mandate is local production and supply of vehicular products and equipment and to be the leading supplier of mobility solutions in Africa and beyond.
Willowvale Motor Industries is a customer-centric manufacturer and supplier of sustainable mobility solutions. The company is solvent financially and currently we are selling Mahindra products. We approached the company with a view to establishing a plant in Zimbabwe. We are also selling Mazda products.
</blockquote>
He added that Willowvale Motor Industries collaborates with Deven Engineering to produce buses. They plan to acquire three well-known vehicle brands for assembly, as well as consider agricultural equipment. However, they face challenges such as foreign currency, retail credit, wholesale finance, working capital, retooling, and public sector procurement support. Despite this, Willowvale Motor Industries is now a profitable organisation, having resolved its financial issues from 10 years ago. They plan to secure funding for equipment upgrades and retooling.
Mr Edward Tome, the General Manager of IDCZ, said the company aims to produce affordable vehicles that Zimbabweans can purchase. He said they are considering collaborating with the Harare Institute of Technology and other universities to manufacture local components for assembling vehicles. This is to reduce production costs and make the final retail price of vehicles affordable for the people of Zimbabwe. He added:
<blockquote>
Starting in the third quarter of this year we will be assembling double and single-cab trucks that will be very affordable to the people of Zimbabwe.
We also have in the pipeline a plan to start assembling again the 3.5-tonne trucks popularly known as T35s which will be very affordable.
</blockquote>
Chimanimani East Member of Parliament, Joshua Sacco who heads the Parliamentary Portfolio Committee on Industry and Commerce said Zimbabweans should support local industries by buying locally manufactured products.
WMI was established in 1967. It is a vehicle manufacturer in Zimbabwe that produces buses, trucks, and cars for the local market. The company was initially established as a joint venture between the Zimbabwean government and a South Korean company, Daewoo.
They stopped making cars because the Zimbabwean economy got worse, which made it hard to get the parts they needed to build cars. Fewer people wanted to buy cars too. There were also problems with how the company was run, like corruption and bad management. The Zimbabwean government ended their partnership with Daewoo, and WMI closed in 2005, resumed and closed again in 2017 because of all these problems.
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Willowvale Motor Industries Set To Resume Assembling Vehicles

The <a href="https://www.pindula.co.zw/ZESA">Zimbabwe Electricity Supply Authority (ZESA)</a> has said Bulawayo waterworks are exempted from load-shedding.
This came after the Local Government Ministry met council officials as well as officials from the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) to get an appreciation of the water challenges in Bulawayo.
During the meeting, ZETDC, a subsidiary of ZESA, reportedly undertook to ensure that the city’s water pumping and treatment works are exempted from load shedding.
Commenting on the outcome of the meeting, ZETDC acting western region general manager Engineer Lloyd Jaji, confirmed that the power utility would work on exempting the city’s pumping and treatment works from load shedding. Eng Jaji told <a href="https://www.sundaynews.co.zw/no-more-power-cuts-at-water-works-load-shedding-reprieve-for-zitf-period/">The Sunday News</a>:
<blockquote>
If the situation allows, we will surely be exempting their pumping and treatment works from load shedding so as to allow smooth pumping and increase in water supplies from the city. Yes, for now they have dedicated lines to their stations, where the Esigodini line is carrying them but if we get adequate supplies from our power sources, we will be exempting their stations totally from any load shedding.
</blockquote>
Bulawayo Mayor Clr <a href="https://www.pindula.co.zw/Solomon_Mguni">Solomon Mguni</a> also reiterated that ZESA assured the local government authority that the city’s waterworks would be exempted from load-shedding. He is cited as saying:
<blockquote>
It was a closed-door meeting with lots of assurances, basically, the issue of exemption of the treatment works to power cuts by ZETDC and rehabilitation of boreholes at Rochester and Epping Forest by ZINWA and other water projects that may require Government funding came up for discussion.
</blockquote>
Bulawayo, Zimbabwe’s second-largest city, is facing one of its worst water crises in recent years, which has seen the council adopting a 72-hour water-shedding schedule to conserve available supplies until the next rainy season. However, the local authority has had to constantly suspend the 72-hour shedding schedule replacing it with a provisional water supply restoration schedule, attributing that to erratic power supplies at water stations.
BCC claimed they were only receiving 8-10 hours of power supply a day, resulting in a drop from the early March 2023 system input volume.
While exemption of power cuts at the city’s waterworks is likely to reduce the crisis, the National Matabeleland Zambezi Water Project is seen as the answer to solve perennial water challenges in Bulawayo. The project is expected to be completed this year, with the construction of Lake Gwayi-Shangani and the Shangani Bulawayo pipeline close to completion.
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Waterworks Exempted From Load-shedding - ZESA

The Zimbabwe Energy Regulatory Authority (ZERA) is looking for a legal graduate trainee who will undergo an intensive 2-year in-house training program. In a vacancy notice seen by Pindula News, ZERA said:
<h2>GRADUATE TRAINEE VACANCY ANNOUNCEMENT</h2>
The Zimbabwe Energy Regulatory Authority (ZERA) is a statutory body and is mandated to regulate the Zimbabwean energy market cost effectively, through incentive regulation and fairly and transparently to achieve sustainable energy. ZERA seeks the services of a highly competent and results-oriented individual to actively contribute to the execution of its mandate in the following role: 
GRADUATE TRAINEE — LEGAL 
The successful candidate will undergo an intensive 2-year in-house training program assisting in the provision of legal services within the Authority, under the supervision of the Senior Legal Officer.
Key Job Requirements:
• Bachelor of Laws (LLB) Honours Degree attained from any recognized law school. 
• A registered Legal practitioner. 
• Previous work experience within a legal environment including undergraduate attachment is an added advantage.
Application Procedure Prospective candidates for this position should email their CVs to vacancies@zera.co.zw by no later than 07 April 2023. All applications should be submitted via e-mail. 
• Note: Only shortlisted candidates will be responded to.
Female candidates are encouraged to apply.
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ZERA Looking For A Legal Graduate Trainee

<a href="https://www.pindula.co.zw/Old_Mutual_Zimbabwe">Old Mutual</a> held a financial literacy training in Bulawayo to mark the 11th edition of Global Money Week (GMW).
Global Money Week is an annual global awareness-raising campaign on the importance of ensuring that youths, from an early age, are financially aware and acquiring the knowledge, skills, attitudes and behaviours necessary to make sound financial decisions to achieve economic well-being and financial resilience.
This year’s Global Money Week was celebrated under the theme ‘Plan your money, plant your future’.
Old Mutual said that the theme centred on sustainability and increasing awareness about how individual financial behaviour affects their financial future, and also the environment and society. The diversified financial services group said in a statement:
<blockquote>
This theme prompts young people to be forward-looking and to have a broad view of the environment and society in their financial decisions. Through Old Mutual’s financial education programme – “On The Money” the financial services giant endeavors to educate and equip children and youth with the financial literacy skills to make smart financial decisions.
</blockquote>
Old Mutual also joined hands with the Reserve Bank of Zimbabwe (RBZ), Insurance and Pensions Commission (IPEC), Securities and Exchange Commission of Zimbabwe (SECZIM) and the Ministry of Primary and Secondary Education to engage schools in Matabeleland North and South on money matters.
Old Mutual said recent research by Finscope showed that there are low literacy levels in the Matabeleland North and South and Mashonaland Central Provinces prompting their focus on the stated provinces.
The financial services group also partnered with Girls In STEM Trust to impart financial education to over 500 girls from higher institutions of learning and secondary school in Bulawayo.
Old Mutual held financial literacy training when young people in Zimbabwe face obstacles in accessing financial services like bank accounts and loans, which can make it hard for them to save and build a secure financial future.
The government and financial institutions have implemented programs to address this, but there is still a lot of work to be done to promote financial literacy and increase access to financial services, especially in rural areas.
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Global Money Week: Old Mutual Hold Financial Literacy Training In Bulawayo

The Cotton Company of Zimbabwe (COTTCO) says it is taking measures to ensure it does not run out of US dollar notes during the forthcoming marketing season.
The 2023 cotton selling season is just around the corner as it usually commences in May.
Speaking in an interview with <a href="https://www.businessweekly.co.zw/cottco-seeks-cash-guarantees/">Business Weekly</a>, COTTCO acting accounting officer Munyaradzi Chikasha revealed that they were negotiating with its international buyers for the provision of US dollar cash in the event that local banks run out of notes. Chikasha said:
<blockquote>
We have noted that the issue of liquidity could affect us and disrupt the marketing season.
We have approached our customers to bring liquidity so that we avoid disruptions.
We are negotiating the facilities with local banks- our previous experiences show us that they may run out of physical notes and when this happens, it opens pathways for side marketing because a farmer can’t keep the crop waiting for us to get cash.
But that of course comes with guaranteed tonnage that will be supplied to off-takers.
</blockquote>
He said COTTCO has a debt of about US$3 million are negotiating for a debt rollover.
Last season, COTTCO initially expected an output of 116 000 tonnes but the company only bought 48 000 tonnes.
This year, the company is expecting output to reach 100 000 tonnes.
The lowest grade (D) will fetch US40c per kg while the premium grade (A) will be sold at US46c per kg.
Farmers will be paid 85 percent in US dollars and the remainder in local currency at the official interbank rate.
More: <a href="https://www.newsday.co.zw/local-news/article/200009522/ed-demands-re-run-in-violence-hotspots">Pindula News</a>

COTTCO Seeks Cash Guarantees Ahead Of Marketing Season

ZESA Holdings has refused to budge on its position on power billing in US dollars despite calls by captains of industry for more flexibility.
Officials from ZESA Holdings’ subsidiary, the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), and captains of industry met a fortnight ago over the issue but the meeting ended in a deadlock after the power utility rejected proposals that were made by industry.
The captains of industry had proposed to have the US dollar bills matched to the proportion of forex sales and this was rejected by ZETDC.
Speaking to <a href="https://businesstimes.co.zw/deadlock-in-power-tariff-talks/">Business Times</a>, Confederation of Zimbabwe Industries (CZI) president Kurai Matsheza the new tariff announced by ZESA is unsustainable.
ZESA announced power tariffs of US12.21c/kWh for all exporters with other forex earners paying US10.63c/kWh.
Matsheza said that they are now seeking the intervention of Energy and Power Development Minister, Zhemu Soda. He said:
<blockquote>
The business community carried out discussions with ZETDC but no agreement was reached hence we have now requested a meeting with the Energy Minister himself.
So far we haven’t gotten a response on his availability but we wanted to discuss the blanket US$ billing, electricity availability, how the power situation can be addressed, and the bill on forex generation capacity.
</blockquote>
Previously, most customers paid in Zimbabwe dollars, under a stepped billing system where users paid tariffs in line with the amount of electricity used.
Only a few exporters or partial exporters, including miners, paid for electricity in forex. Said Matsheza:
<blockquote>
ZETDC told us the billing in US$ for exporting companies and those who are generating US$ through local sales should pay 100% in forex.
We raised an issue to say these blanket groupings may not be ideal.
Whilst we understand the need to raise US$, why didn’t they look at the individual customer and say to what extent do you generate US$ sales and bill accordingly?
</blockquote>
Zimbabwe is facing acute electricity shortages that have resulted in blackouts lasting 18 hours a day for millions of citizens.
The power cuts are being caused by low water levels that have reduced generation from a hydropower plant on Lake Kariba as well as frequent breakdowns at the Hwange Thermal Power Station.
More: <a href="https://www.newsday.co.zw/local-news/article/200009522/ed-demands-re-run-in-violence-hotspots">Pindula News</a>

Deadlock In ZESA, Captains Of Industry Power Tariff Talks

The <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> has said gold coins have helped lower inflation in the country.
RBZ introduced the <a href="https://zero.pindula.co.zw/rbz-releases-first-batch-of-the-2-000-mosi-oa-tunya-gold-coins-25-july-2022/">Mosi-oa-Tunya gold coins on 25 July 2022</a> in a bid to lower inflation and stabilise the economy and the local currency that was fast shedding value against the United States dollar.
In a statement seen by Pindula News, RBZ said as of 10 March 2023, a cumulative total of 31 866 gold coins had been sold in different denominations, mopping up more than ZW$25.8 billion. Reads the statement:
<blockquote>
<h2>RESOLUTIONS OF THE MONETARY POLICY COMMITTEE MEETING HELD ON 28 MARCH 2023</h2>
The Monetary Policy Committee (the MPC) of the Reserve Bank of Zimbabwe (the Bank) met on 28 March 2023 to review the recent macroeconomic and financial developments in the economy and their implications on monetary policy.
The MPC noted with satisfaction that domestic economic activity remained robust notwithstanding the expected slowdown in global economic growth. Domestic inflationary pressures in the economy continued dissipating as a result of fiscal discipline, the tight monetary policy, and enhanced monitoring and enforcement of market discipline by the Financial Intelligent Unit (FIU). 
The favourable uptake of gold coins has aided the dissipation of domestic inflationary pressures. As at 10 March 2023, a cumulative total of 31,866 gold coins had been sold in different denominations, mopping up more than ZW$25.8 billion as at the same date.
The MPC noted with satisfaction that month-on-month inflation declined from 0.7% in January 2023 to -1.6% in February 2023 and 0.1% in March 2023. Annual inflation also declined from 101.5% in January 2023 to 92.3% in February 2023 and further down to 87.6% in March 2023 and was expected to continue on the disinflation path owing to the tight monetary policy stance and anticipated bumper harvest which was expected to dampen food prices.
The MPC also noted that the 70:30 currency mix of foreign and local currency, respectively, in the economy was a reflection of the significant foreign currency inflows into the economy during the year 2022, which trend was expected to continue in 2023.
During the period extending from 1 January 2023 to 15 March 2023, the country received US$1.78 billion in foreign currency, representing an increase of 31.5% compared to US$1.36 billion in the same period in 2022. This was against payments of US$1.69 billion over the same period in 2023. The local currency also continued to be widely used in the economy as shown by the Real Time Gross Settlement (RTGS)
transactions of ZW$10.6 trillion in the five months from October 2022 to February 2023, compared to US$7.5 billion worth of transactions settled during the same period.
In order to ensure continued anchoring of exchange rate and inflation expectations in the economy, the MPC resolved to stay the course of a tight monetary policy stance and made the following policy decisions which will take effect from 1 April 2023:
i. Reduced the Bank policy rate from 150% to 140% per annum;
ii. Reduced the Medium-term Bank Accommodation (MBA) Facility for the productive sectors, including individuals and MSMEs, from 75% to 70% per annum;
iii. Maintained the prevailing Bank policy rate as the minimum lending rate for all banks;
iv. Maintained the statutory reserves requirements at 10% for demand and call deposits and 5% for time and savings deposits for both domestic and foreign currency deposits;
v. Maintained the minimum deposit rates on savings and time deposits at 30% and 50% per annum, respectively; and
vi. Further liberalised the foreign exchange market to enhance the operation of the Willing-Buyer Willing-Seller market by:
(a) increasing and standardising the trading margins for authorized dealers from the current 5% to 10%, consistent with the margin applicable to bureaux de change and retailers; and
(b) maintaining the maximum amount per transaction at US$100,000.
To expand the value-preserving instruments and enhance divisibility and widen their access to the public, the MPC resolved to complement the current issuance of physical gold coins with gold-backed digital products (digital tokenisation of gold coins). This initiative will allow gold coins to be widely traded and, in the process, expand tradeable assets in the economy for store-of-value purposes. This will be over and above the procurement, by the Bank, of smaller USD denominations for divisibility purposes and/or change for transactions in the economy.
The MPC affirmed its commitment to stay the course of the tight monetary policy stance and to cautiously adjust the policy rates in line with positive developments in the economy. In order to enhance the use of the US dollar through formal banking channels, the Bank shall engage banking institutions to address the current high bank charges on foreign currency deposits.
</blockquote>
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