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Debt

Zimbabwe's external debt to hit $7.2 billion

12 September 2014 | 602 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 | 1288 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 | 1160 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 | 4135 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 | 1571 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 | 2014 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 | 2920 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 | 3374 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 | 2150 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 | 3953 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 | 2780 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 | 1981 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 | 2722 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 | 3019 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 | 2938 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 | 3030 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 | 2310 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 | 1803 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 | 4841 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 | 3922 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 | 2174 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 | 4902 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 | 1893 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 | 1793 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 | 7959 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 | 5212 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 | 1551 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 | 1850 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 | 3443 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 | 2654 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 | 1715 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 | 2120 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 | 3936 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 | 2385 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 | 2709 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 | 1906 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 | 4717 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 | 3306 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 | 1744 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 | 3921 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 | 2638 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 | 3029 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 | 2341 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 | 5844 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 | 1690 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 | 2128 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 | 3599 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 | 3334 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 | 3993 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 | 3096 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

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