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Prominent Zimbabweans sink in debt

01 November 2015 | 5693 Views
As the economic climate in Zimbabwe gets more unforgiving, a number of prominent citizens are failing to service their debts, resulting in many of them losing their assets.Last week, the Sheri...
by Staff reporter

Zimbabwe must pay its $10,4 billion debt to international lenders

25 October 2015 | 1605 Views
Zimbabwe must pay its US$10,4 billion dues to international lenders if it wants to access new money for economic growth from multilateral financial institutions, Reserve Bank of Zimbabwe governor Dr J...
by Staff reporter

Zim to clear arrears of $1.86bn to international creditors - Chinamasa

09 October 2015 | 3429 Views
Harare - Zimbabwe will clear arrears of $1.86bn to international creditors such as the International Monetary Fund by the end of next April, the finance minister said on Friday, a major step towards u...
by Staff Reporter

Blue Ribbon creditors meet over Bakhresa takeover

25 August 2015 | 2058 Views
Creditors of Blue Ribbon industries will meet early next month to consider Tanzanian milling giant, Bakhresa Group's $40 million bid to acquire the company in terms of a scheme of arrangement of t...
by Staff reporter

Govt moves to address debt situation

20 August 2015 | 1592 Views
Government and international financial institutions have constituted a committee to focus on debt resolution as part of re-engagement efforts aimed at finding a solution to the country's debt situ...
by Staff reporter

Zimbabwe sets up committee to resolve debt crisis

13 August 2015 | 1453 Views
RBZ deputy governor, Kupukile Mlambo, has said that the government was pushing hard to have a deal with the IMF, World Ban, and AfDB to resolve the country's debt crisis. This confirms a s...
by Staff reporter

School property attached over $26,000 debt

08 August 2015 | 2424 Views
A MUTARE primary school was this week reduced to a shell after the Messenger of Court swooped on it and attached almost all the furniture over a $26 000 debt. Dzobo Primary School, which is ab...
by Blessing Rwizi

Bredenkamp in trouble over $3.8m Yakub debt

04 August 2015 | 2609 Views
Yakub Mohammed has taken John Bredenkamp to court over a debt of $3.8million. Mohammed clams to have advance the loan to Bredenkamp between 2000 and 2001. In addition to the amount...
by Staff reporter

Zimbabwe on extensive debt restructuring exercise

04 August 2015 | 2739 Views
A team of experts working on debt restructuring will contribute to Zimbabwe's discussions with major external creditors in Lima, Peru, during the annual meetings of the International Monetary Fund...
by Staff reporter

Zimbabwe must clear debts to get funds

03 August 2015 | 3277 Views
Zimbabwe needs to clear its debts to access funds from the international market, Bankers Association of Zimbabwe (BAZ) president, Sam Malaba has said. Malaba said the country's internation...
by Staff reporter

Eveline High School unleash debt collectors

21 May 2015 | 3414 Views
Eveline High School in Bulawayo through its School Development Association is set to unleash debt collectors to owing parents and guardians.The association seek to recover fees date backing to...
by Thobekile Zhou

Hospital hunts down debt defaulters

13 May 2015 | 1773 Views
GWERU Provincial Hospital has engaged a debt collector in a bid to recover $1,5 million that the health institution is owed by patients.Hospital medical superintendent Dr Fabian Mashingaidze c...
by Patrick Chitumba

Zimbabwe govt lacks capacity to assume debts

12 May 2015 | 2273 Views
Zimbabwe does not have the capacity to keep assuming debts caused by the misappropriation of State funds by individuals, a local pressure group has said. Patricia Kasiyamhuru, the Zimbabwe...
by Staff reporter

Andrew Langa drowning in massive debt, faces eviction over rent

10 May 2015 | 4702 Views
THE Minister of Sports, Arts and Culture and suspended Zanu-PF Matabeleland South chairperson, Andrew Langa, is reportedly drowning in massive debt and could likely be evicted from his home and other ...
by Staff reporter

Mzingwane High School rope in debt collectors

05 May 2015 | 5347 Views
Mzingwane High School is looking at engaging debt collectors to recover money that is owed by parents in school fees arrears.In an advert in the local newspapers yesterday, Mzingwane High Scho...
by Ndou Paul

Debt paralyses Tsvangirai's MDC-T

24 April 2015 | 3658 Views
THE MDC-T is caught up in a vicious debt cycle as it owes more than US$2 million which senior party officials say is crippling the opposition party's operations and attempts to rejuvenate itself ahead...
by Staff reporter

Mssaulted with bottles, sjambok over $150 debt

18 April 2015 | 2061 Views
A 34-YEAR-OLD man was last week slapped with a $150 fine or four months imprisonment for taking the law into his own hands by severely assaulting a woman who owed him property worth $45.The St...
by Staff reporter

Shebeen owner kills patron over $2 debt

15 April 2015 | 3140 Views
A shebeen owner and his colleague allegedly killed a reveller at the shebeen over a $2 debt. Joseph Mapa (27) and Tatenda Foot (28), both from Waterfalls, Harare, reportedly used a brick and a...
by Staff reporter

Man battles for life over $4 debt

04 April 2015 | 2657 Views
A 32-YEAR-OLD man is battling for life at St Peter's Mission Hospital in Chisumbanje after being stabbed by his friend over a $4 debt last Thursday.Richard Bhila, who was owed the amount by Ro...
by Staff reporter

Germany invites Zimbabwe delegation to Berlin for debt talks

24 March 2015 | 2256 Views
The Government will send a technical team to Germany in the near future to discuss the country's debt to the European country and ways on resolving it.The country owes international financial ...
by Rumbidzai Zinyuke

Mpilo Hospital to unleash more debt collectors

12 March 2015 | 1604 Views
CASH-STRAPPED Mpilo Central Hospital in Bulawayo is yet again unleashing ruthless debt collectors to recover several millions of dollars owed by patients.The health institution is inviting...
by Thobekile Zhou

Bev in a physical confrontation over debt

25 February 2015 | 6673 Views
Raunchy dancer Beverly 'Bev' Sibanda's penchant for an expensive lifestyle has proved costly after she reportedly got involved in a physical confrontation with her hairdresser, Revai Tinarwo, with the...
by Staff reporter

ZAPU says NO to government taking over RBZ Debt

23 February 2015 | 2148 Views
Amongst the big decisions facing this current parliament of Zimbabwe is whether the government should take over the $1,35billion debt owed by the Reserve Bank of Zimbabwe. For all concerned, this is a...
by Melusi Moyo.

Teenager slit over debt

11 February 2015 | 1616 Views
A CHITUNGWIZA man has been fined for slitting a teenager with a razor blade after a misunderstanding over a debt.Zacharia Chibaduki used a razor blade on Horizon Mutandiro, demanding his money...
by Blessing Masakadza

Harare offers 30% discounts to debtors

17 December 2014 | 3783 Views
Harare City Council is offering a 30 percent discount to corporates and 5 percent to residents who settle their debts in full by end of this month. This is an effort by council to entice ...
by Staff reporter

Man drags brother to court over Zim dollar debt

25 November 2014 | 2449 Views
BULAWAYO - A NKULUMANE man has sued his stepbrother for $11,482 he used to renovate his late step father's house during the Zimbabwe dollar era for ZW$700.According to the man's calculati...
by Court Reporter

Ambrose Mutinhiri loses property over debt

20 November 2014 | 2281 Views
ASPIRING vice president, retired brigadier-general Ambrose Mutinhiri, has lost property worth thousands of dollars after it was attached by the Deputy Sherriff. CBZ Bank had to seek legal recourse to ...
by Staff reporter

Byo City Council's $47 million Zesa debt lingers

17 November 2014 | 1724 Views
BULAWAYO City Council (BCC) is still negotiating with Zesa to offset part of its $47 million debt to council by cancelling the $37 million the local authority owes the electricity supplier....
by BCC

Herdman axes employer's son over $20

16 November 2014 | 1494 Views
A BINGA herdman will rue the day he struck his employer's son who had demanded his $20 with an axe.Mlungisi Moyo (24) of Chishizha, Lusulu in Binga, pleaded guilty to attempted murder when he ...
by Fairness Moyana

Businessman offers to pay $26,000 debt over 200 years

05 October 2014 | 2420 Views
A PLUMTREE businessman irked Bulawayo High Court judge Justice Martin Makonese when he offered to repay a debt of $26 000 in monthly instalments of $10.If the judge had accepted the offer, it ...
by Staff reporter

RBZ Debt Assumption Bill needs clear- headed approach

29 September 2014 | 1176 Views
In compliance with section 141 of the constitution which obligates Parliament to consult concerned parties about draft legislation under consideration, the Parliamentary Portfolio Committee on Finance...
by Tafara Shumba

RBZ mulls electronic payments regulation

22 September 2014 | 1482 Views
RBZ plans to introduce regulations that govern electronic transactions following the proliferation of technology based payment platforms. RBZ Financial markets division deputy director Wil...
by Staff reporter

Zimbabweans face higher taxes if RBZ Debt Assumption Bill passes

22 September 2014 | 1286 Views
Zimbabweans could pay higher taxes if Parliament adopts the proposed RBZ Debt Assumption bill. Analysts said government will have no option but to hike taxes in order raise funds to repay the RBZ...
by Staff reporter

Debt stands in the way of Zimbabwe - China courtship

21 September 2014 | 1490 Views
In my last week column, I highlighted that there is a "beauty contest" for international capital.The RBZ, in it...
by Nesbert Ruwo

Zimbabwe's external debt to hit $7.2 billion

12 September 2014 | 928 Views
Zimbabwe's external debt will hit $7, 2 billion by December this year, according to government projections. Chinamasa said in the midterm fiscal policy debt distress has continued to undermine...
by Staff reporter

Govt to offload $1,3 billion RBZ debt on taxpayers

12 September 2014 | 1714 Views
The government is working on modalities to make taxpayers fund the $1,35 billion debt raked up by the Reserve Bank of Zimbabwe during the hyper inflationary period of the Zim dollar era.Ev...
by Staff Reporter

Government assumes RBZ debt

04 September 2014 | 1433 Views
The government has been challenged to consider the enactment of a provision which protects financial institutions from litigations by creditors in respect of debt assumed by the state under the Reserv...
by Staff Reporter

RBZ pays 16 year old Meikles debt

20 August 2014 | 4451 Views
Reserve Bank of Zimbabwe (RBZ) has begun payments of a 16-year-old debt to diversified conglomerate, Meikles Holdings Limited (Meikles).John Moxon, the Meikles chairman yesterday said the grou...
by Staff reporter

Jealousy man set ex-lover's property on fire over $25 debt

31 July 2014 | 1772 Views
IN fit of jealousy, a Gwanda man allegedly set on fire property belonging to his ex-girlfriend's new lover demanding $25 he gave her while they were still together.Jealous Sibanda, 23, repor...
by Staff reporter

Man killed over $5 debt

16 July 2014 | 2241 Views
A NKAYI man has been sentenced to nine years in prison for fatally striking his drinking mate with a log following a dispute over three chains and $5.Thokozani Moyo, 23, of Majoyi area appeare...
by Lindani Dube

Zimra boss fails to payback $1,5m debt, taken to court

13 July 2014 | 3192 Views
Gershem Pasi, the Zimbabwe Revenue Authority (Zimra) commissioner general, is failing to pay back $1,5 million he borrowed from Interfin Banking Corporation Limited (Interfin) to fund operations for h...
by Staff reporter

Man kills woman to settle $6,50 debt

04 July 2014 | 57 Views
A 23-year-old Glen View man has been convicted of murder with actual intent after he fatally stabbed a female resident in a bid to steal her personal items and raise $6,50 to settle a debt. ...
by Staff reporter

Woman bashed over $1 debt, friendship terminated

18 June 2014 | 46 Views
A GWANDA woman allegedly assaulted her friend with a log and terminated their friendship following a dispute over a $1 debt, a court heard. Thembani Matsheza of Ekhaya Compound in West Nichols...
by Marvelous Moyo

Masimirembwa loses top-of-the- range vehicle over debt

12 June 2014 | 4207 Views
FORMER Zimbabwe Mining Development Corporation board chairman, Goodwills Masimirembwa, has had his top-of-the- range vehicle, a Toyota Land cruiser VX, attached by the deputy sheriff following failure...
by Staff Reporter

AfDB to help Zimbabwe cut debt

20 May 2014 | 37 Views
Kigali - The African Development Bank is considering three ways it could help Zimbabwe clear its huge debts and will settle on a rescue package in three months' time, the bank's chief economist sa...
by Reuters

Zimbabwe settles $30 million debt owed to Zambia

09 May 2014 | 1793 Views
Zimbabwe has settled the outstanding $30 million owed to Zambia as principal debt accrued through the acquisition of power generation equipment under the defunct Central African Power Corporation (CAP...
by Staff reporter

Man commits suicide after failing to pay debts

01 May 2014 | 2541 Views
A Gweru man was found hanging from a tree in Mtapa suburb, police have confirmed. Relatives of the deceased man suspect the man could have cut his life short owing to some financial challenges...
by Staff Reporter

Zimbabwe fails to pay IMF debt

27 April 2014 | 2813 Views
Zimbabwe has no capacity to clear debt arrears with international financiers due to the poor state of the economy, Finance minister Patrick Chinamasa has said.Chinamasa ...
by Staff reporter

Zimbabwe unable to clear international debt

25 April 2014 | 2802 Views
The Minister of Finance and Economic Development, Patrick Chinamasa says government has no capacity to clear its international arrears and principal debts with the Bretton Woods institutions that incl...
by Staff reporter

Zimbabwe moves in to repay external debt

30 March 2014 | 2955 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

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