adminBanks happy with changes to 99-year farm leases
Lloyd Gumbo Herald Reporter
BANKS have agreed in principle to accept the improved 99-year-leases as collateral when farmers apply for loans.
This comes at a time when Finance Minister Tendai Biti has said Government does not have capacity to fund agricultural activities.
Banks have been refusing to accept the 99-year leases as collateral, saying the land was not transferable in the event that farmers defaulted on loan repayments.
In a letter written to the then Acting Secretary for Lands and Rural Resettlement, Mr Marius Dzinoreva last year, immediate-past president of the Bankers Association of Zimbabwe Dr John Mangudya said bankers were pleased with the redrafted agricultural land settlement lease.
Salary blues for maids
Daniel Nemukuyu Herald Reporter
GOVERNMENT’S failure to stipulate dome-stic workers’ minimum wages since the introduction of multiple currencies in 2009 has left them vulnerable to exploitation by some employers, labour experts have said.
Some employers are paying their workers unreasonable wages as little as US$20 per month.
Most domestic workers earn between US$35 and US$60 per month.
According to labour regulations, the Ministry of Labour is expected to gazette the minimum wage for domestic workers yearly.
Almost every household has a domestic worker be it in the low, medium and high-density suburbs.
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POSB nets US$2,1 million profit
Business Reporter
THE People’s Own Savings Bank posted a net profit of US$2,1million for the half-year ended June 30, signifying a 29 percent
Zimplats confident of breaking indigenisation impasse
Golden Sibanda Business Reporter
IMPALA Platinum has expressed confidence that it will attain an “adequate and appropriate” level of indigenous