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Debt

Zimbabwe moves in to repay external debt

30 March 2014 | 2418 Views
ZIMBABWE has entered into a repayment plan with creditors as it moves to settle the $6,1 billion external debt, Finance minister Patrick Chinamasa has said.The country d...
by Staff reporter

Telecel sued over debt

28 March 2014 | 1820 Views
Telecel Zimbabwe (Pvt) Limited is being sued by NICLIFT Investment for allegedly failing to pay the firm $52 000 for services provided to the mobile phone network provider four years ago.Accor...
by Peter Matambanadzo

Knife attack over $1 debt

24 March 2014 | 1381 Views
A 32-YEAR-OLD man from Masvingo's Chief Chikwanda in Morgenster area is battling for his life at Masvingo General Hospital after a fellow villager allegedly knifed open his stomach with an Okapi kni...
by Walter Mswazie

Prophet to settle Bev's $25,000 debt

09 February 2014 | 4030 Views
Pastor Walter Magaya's Prophetic Healing and Deliverance Ministries (PHD) could pay upwards of $25 000 to buy recent convert Beverly "Bev" Sibanda out of a contract with a local record company....
by Mtandazo Dube

Teacher collapses in court after row with ex over $180 debt

25 January 2014 | 3320 Views
A Bulawayo woman, Mercy Pampato Mpata, collapsed in court during a heated argument with her alleged "ex-boyfriend" over a debt of $180. Mpata, a teacher based in Ntabazinduna remained unconsc...
by Staff Reporter

Zim lobby creditors to have its $6.1bn debt written off

23 January 2014 | 1708 Views
ZIMBABWE will this year actively lobby creditors to have its $6,1 billion debt written off after completing an audit and validation of the debt last year, Finance and Economic Development Minister Pat...
by Business reporter

PSMAS debts hits $38 million, CEO earns $250,000 per month

22 January 2014 | 4337 Views
The entire civil and uniformed services, and pensioners of these services, may go without medical aid as the Government has yet to renew the operating licence for Premier Service Medical Aid Society ...
by Staff reporter

TelOne recovers $90m out of $300m under its debt recovery programme

21 January 2014 | 1501 Views
Zimbabwe's sole landline network operator, TelOne, says it collected $90 million out of a targeted $300 million last year under its debt recovery programme.Prior and following the introducti...
by Staff reporter

MDC-T senior official's property attached over TelOne debt

16 January 2014 | 1415 Views
MDC-T National Assembly member for Gweru Urban, Sessil Zvidzayi's company is allegedly failing to settle a TelOne debt of $23 000 in unpaid bills dating back to 2009. Zvidzayi owes TelOne $23 ...
by Staff reporter

'Dead' businessman sends text messages to friends apologising he died

10 January 2014 | 7357 Views
A BULAWAYO man, Lawrence Ndlovu, who is a cellphone dealer at Unity Village flea market in the city centre, faked his death in a bid to avoid massive debts.Ndlovu reportedly sent his friends t...
by Staff Reporter

Cash strapped Zim govt engages creditors over debt

30 December 2013 | 4856 Views
HARARE - Cash strapped Zimbabwe government is negotiating with external creditors over its gigantic debt but has ruled out its swift clearance owing to serious economic challenges, Daily News reported...
by Staff Reporter

Bad credit adds to Zimbabwe's food insecurity

16 December 2013 | 1202 Views
The drying-up of credit lines to the Zimbabwe government and apparent donor fatigue are pushing up the price of the staple grain, maize, by nearly a third in some droughthit areas compared to a year a...
by Staff reporter

Soldier fatally assaults a man over a $1 debt

06 December 2013 | 1484 Views
A Mudzi-based soldier who allegedly fatally assaulted a man over a $1 debt has been locked up while his accomplice hanged himself after learning that police were looking for him.Kelvin Chiuny...
by Staff reporter

Minister's wife loses two-storey house to bank

06 December 2013 | 3051 Views
THE High Court has ordered the sale of Zimbabwe Media Commission member Millicent Mombeshora's Borrowdale house in a bid to repay a debt owed to Kingdom Bank.According to a notice issued by a ...
by Staff reporter

31 Zupco buses attached over $500 000 debt

05 December 2013 | 2251 Views
THE Deputy Sheriff has attached 31 Zimbabwe United Passenger Company (Zupco) buses over a half-a-million dollar debt owed to retrenched workers.The writ of execution was obtained at the Bulawa...
by Staff reporter

TelOne completes writing off of more than $79m debts

03 December 2013 | 1424 Views
FIXED telecommunications operator Tel-One has completed writing off more than $79 million from about $276 million that it is owed by its customers. In October, the parastatal said it would emb...
by Business Reporter

France not yet ready to extend financial support to Zimbabwe

07 November 2013 | 1675 Views
France says it is not yet ready to extend any financial support or credit lines to Zimbabwe. Laurent Delahouse, th...
by Staff reporter

France to cancel Zimbabwe debt

06 November 2013 | 3505 Views
ZIMBABWE has been named among the so-called highly indebted poor countries likely to benefit from debt cancelations by the French government next year.France's social economy minister Beno√...
by Staff reporter

Air Zimbabwe fails to pay $1,000 Econet debt

05 November 2013 | 1999 Views
A legal wrangle involving the country's ailing state-run national airline, Air Zimbabwe has exposed the dire financial status engulfing the troubled carrier as it fails to settle a meagre $1 000 debt ...
by Staff reporter

Zim govt to pay back $400m seized by RBZ from FCAs

04 November 2013 | 2321 Views
TOUR and Adventure operators in Victoria Falls have applauded the government for committing to address the issue of funds taken from their Foreign Currency Accounts by the Reserve Bank of Zimbabwe at...
by Staff reporter

Zimbabwe discussing with IMF over debt

04 November 2013 | 1558 Views
ZIMBABWE is in discussions with the International Monetary Fund, World Bank and African Development Bank for fresh financial support to rebuild capacity to repay the country's debt, a Cabinet minister...
by Staff reporter

Delma Lupepe's woes continue to mount, banks swoop on his houses

29 October 2013 | 4149 Views
BULAWAYO mogul Delma Lupepe's woes continue to mount after banks swooped on four of his other houses after two properties were auctioned four months ago to cover undisclosed debts owed by his compani...
by Staff reporter

Harare banks crack whip on Bulawayo firms

29 October 2013 | 2728 Views
THE Sheriff of the High Court has attached property worth millions of dollars belonging to 13 Bulawayo companies and seven businesspeople over failure to service loans owed to different financial inst...
by Staff reporter

TelOne recovers $20 million

24 October 2013 | 1464 Views
STATE-OWNED Telecommunications Company TelOne has so far recovered $20 million out of the targeted $50 million through a debt collection campaign which started in August this year.TelOne man...
by Staff reporter

Gideon Gono yanked to court over chicken debt

23 October 2013 | 3575 Views
A business enterprise owned by Reserve Bank of Zimbabwe (RBZ) Governor Gideon Gono has been hauled to court by a leading poultry producer after the company allegedly defaulted on paying for a consignm...
by Staff reporter

Why Zimbabweans should follow the American Debt Crisis: Next Time

17 October 2013 | 2296 Views
"Of all the constraints on new government, it is the market that proves most confining-and this in a way is the genius of unfettered capitalism: it is self-enforcing....
by Tsungai Chipato

Council in door-to-door debt collection exercise

01 October 2013 | 2605 Views
Plumtree Town Council is conducting a door-to-door debt collection exercise in a bid to improve its revenue. The strategy was also being done to enhance the town's financial position and preve...
by Staff reporter

IDC revives bid to recover $62m from Romanian Govt

18 September 2013 | 2021 Views
The Industrial Development Corporation of Zimbabwe Limited (IDCZ) has revived its bid to recover $62 million from the Romanian government as compensation for a failed joint sheet glass manufacturing p...
by Business reporter

ZESA writes off debts

10 September 2013 | 5541 Views
Power utility company ZESA has announced a $170 million debt relief for domestic customers and resettled and rural farmers.ZESA says the debt relief to customers was devised after extensive c...
by Staff reporter

AfDB commends Zimbabwe's debt clearance plan

01 September 2013 | 1421 Views
THE African Development Bank (AfDB) says the International Monetary Fund's (IMF) supervised economic reform was indicative of the significant improvement in Zimbabwe's cooperation on economic policies...
by Staff reporter

TelOne debt collection blitz targets to recover $50 million

22 August 2013 | 1816 Views
TelOne, the country's fixed line operator is aiming to recover $50 million by year end through a debt collection campaign that started early this week. The company's chief executive Mrs Chipo...
by Staff reporter

'Debt cancellation is for homes only'

15 August 2013 | 3282 Views
The Harare City Council which has compelled by the government directive to write off debts accrued from 2009 to June 2013 has clarified that the debt cancellation by the government applies to dom...
by Staff Reporter

Dairiboard takes Buscod to court over $5 000 debt

12 August 2013 | 2939 Views
DAIRIBORD Zimbabwe has dragged to court the now defunct Buscod Supermarket for failing to pay close to $5 000 being money for goods it bought on credit.Buscod Supermarket, a subsidiary of Hum...
by Court Reporter

BCC cancels debts

12 August 2013 | 3686 Views
BULAWAYO town clerk Middleton Nyoni has said the local authority has finalised modalities to implement the cancellation of debts, saying new figures will start reflecting in September.Local G...
by Staff reporter

'Bills cancellation directive irreversible,' says Chombo

10 August 2013 | 2791 Views
LOCAL authorities in the country have been ordered to totally cancel all bills that residents have been accruing since 2009. The authorities, after interpreting the directive by Local Government, Rur...
by Staff reporter

Zanu-PF wants Zesa, Zinwa bills scrapped

07 August 2013 | 4219 Views
Outgoing Local Government Minister Ignatius Chombo has implored national power utility Zesa and Zinwa to write off individual consumers’ utility debts in line with Zanu-PF policies. ...
by Staff reporter

Harare City writes off $330m rates arrears

07 August 2013 | 2461 Views
HARARE City Council has written off debts amounting to US$330 million in line with a Government directive to scrap debts owed by residents from February 2009 to June 30, 2013. A few days befo...
by Municipal Reporter

BCC has started writing off rates bills

07 August 2013 | 3538 Views
Bulawayo City Council has started complying with the Government's directive to write off bills accumulated by residents in the last four years.The development comes at a time when the Urban C...
by Staff reporter

'Zanu-PF water bills debt write-off swung vote,' says PIMZ

06 August 2013 | 3412 Views
Progressive and Innovative Movement of Zimbabwe (PIMZ) president Tendai Munyanduri, believes the writing off of outstanding water bills by Zanu-PF's Ignatius Chombo, swayed people's votes in favour o...
by Staff reporter

Councils start debt write-offs

03 August 2013 | 5184 Views
SOME urban and rural councils have begun implementing a directive by Local Government Minister Ignatius Chombo to write off debts accrued by residents between February 2009 and June 2013.The d...
by Staff Reporter

Councils defy Chombo's directive on bills

31 July 2013 | 1829 Views
SOME urban councils that were being run by MDC formations have ganged up to defy the Government's directive to write off all debts accrued by residents in the last four years.However, others n...
by Staff reporter

BCC 'debt collector' arrested

27 July 2013 | 2613 Views
POLICE have arrested a man who was masquerading as a debt collector in a case likely to unearth a massive scam at the Bulawayo City Council as the man was allegedly working in cahoots with senior offi...
by Court Reporter

Bosso taken to court over $9,000 debt

25 July 2013 | 4676 Views
FORMER Highlanders FC chairman Themba Ndlela has taken legal action against the Bulawayo club over a $9 000 debt owed to him. According to sources, the ex-Bosso boss engaged a lawyer from a c...
by Sports reporter

Debt cancellation legal, not mere politicking, says Chombo

25 July 2013 | 3020 Views
LOCAL Government, Rural and Urban Development Minister Ignatius Chombo yesterday said the directive to all 92 rural and urban councils to write off debts owed by residents for rates and bills from Feb...
by Staff reporter

Hotel sues Zifa over debt

24 July 2013 | 2358 Views
Zimbabwe Football Association was yesterday sued by Selous Hotel for failing to settle a bill amounting to more than $4 000 when they camped for preparations for the African Youth Championship games ...
by Court Reporter

Thank you Chombo for residents debts cancellation order

23 July 2013 | 5013 Views
ZUPA, the organisation representing the interests of millions of economically disadvantaged Zimbabweans especially the unemployed would like to thank the Ministry of Local Government through Minister...
by Thamsanqa Zhou and Innocent Ndibali

Tsvangirai's son sued

17 June 2013 | 4174 Views
Prime Minister Morgan Tsvangirai's son Edwin has been dragged to the High Court for failing to pay back over US$107,000 that he allegedly borrowed from the struggling Interfin Banking Corporation in 2...
by Staff reporter

ZUPCO property attached over debt

14 June 2013 | 3934 Views
Property worth thousands of dollars belonging to the Zimbabwe United Passenger Company (ZUPCO) has been attached by the Sheriff over a debt of more than $763 000.Scores of ZUPCO employees who...
by Staff Reporter

Zanu-PF minister, son taken to court over debt

12 June 2013 | 4216 Views
Zanu-PF MP and Deputy Minister of Energy and Power Development Hubert Nyanhongo and his son Bright have been taken to court over a $3 000 debt which they allegedly failed to settle since last year. ...
by Staff reporter

RioZim to focus on debt restructuring

31 May 2013 | 2056 Views
RioZim will continue focusing on debt restructuring with the company expecting to generate $8.6 million cash in total and $7.7 million before the end of the year from the sale of reverts of Xstrata, g...
by Business reporter

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