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Debt

Govt debt of $1,3bn hampers food sourcing by the nation- Maridadi

12 May 2016 | 1895 Views
Tafara MP James Maridadi (MDC-T) has blamed the $1,3 billion debt of the nation as the reason why the country can not adequately feed its people.Speaking in parliament, Maridadi said one of th...
by Stephen Jakes

Zimbabwe foreign debt payments on track

11 May 2016 | 2703 Views
ZIMBABWE is on track towards clearing close to $2 billion debt to international finance bodies, which would facilitate access to fresh lines of credit to grow her economy, Finance Ministry Secretary W...
by Prosper Ndlovu

Debt collector pockets $68 000

03 May 2016 | 2704 Views
A DEBT collector with the National Employment Council for Welfare and Education Institutions yesterday appeared in court for converting $68 286 to his personal use.Joseph Malachi Kudiwa (34) w...
by Prosper Dembedza

'Pay your debts,' says Mugabe

08 April 2016 | 2026 Views
STABILITY in the financial sector and economic recovery are being hampered by a culture of failing to honour debts, President Robert Mugabe said yesterday. President Mugabe compared failing to pay deb...
by Nduduzo Tshuma

Pregnant teen stabs man over $10 debt

28 March 2016 | 2543 Views
A 16-YEAR-OLD pregnant girl has appeared in court for allegedly stabbing a 22-year-old neighbour with a knife over a $10 debt.The girl, who cannot be named to protect her identity as a minor a...
by Patience Mutsiwi

Drama as Gweru council property gets attached over debt

24 March 2016 | 2173 Views
There was drama at Gweru council when the deputy sheriff moved in to attach movable property after council failed to settle a $69 000 debt it owes its former employees.Business came to a halt ...
by Staff Reporter

Will Zimbabwe's LIMA strategy work?

24 March 2016 | 2226 Views
In September 2015 the Minister of Finance, Patrick Chinamasa, issued a document titled Zimbabwe's strategies for clearing external debt arrears and the supportive economic reform agenda.The su...
by Vince Musewe

Govt debt balloons

03 March 2016 | 481 Views
The government's debt has ballooned to $1.4 billion at the end of 2015 in a clear sign of the President Robert Mugabe administration's failure to curb excessive spending. In its first quar...
by Staff reporter

Debt collector swindles client

29 February 2016 | 785 Views
A debt collector with Bherebhende Law Chambers has appeared in court accused of swindling a client out of $13 000. Sarah Hwingiri of 124 Samora Machel Avenue in Harare appeared before Hara...
by Fumgai Lupande

Sulu Chimbetu struggles to pay potatoes debt

01 February 2016 | 3028 Views
MUWI Village headman in Nyanga, Landmine Madongonda is yet to receive the full amount of money he is owed by dendera musician, Suluman Chimbetu, Nyanga Magistrates Court heard recently.The civ...
by Liberty Dube

Chief Negomo jailed 3 months over $147,000 debt

11 December 2015 | 1423 Views
The High Court has sentenced Chief Negomo Luscious Chibvongodze to three months in prison after he failed to repay a loan of $147 000 to CBZ Bank Limited. Chief Negomo is popularly known as Lu...
by Daniel Nemukuyu

Prominent Zimbabweans sink in debt

01 November 2015 | 6093 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 | 2380 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 | 3856 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 | 2294 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 | 1787 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 | 1610 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 | 2569 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 | 2810 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 | 2896 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 | 3459 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 | 3631 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 | 2073 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 | 2474 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 | 4945 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 | 5862 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 | 3901 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 | 2368 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 | 3414 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 | 2939 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 | 2580 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 | 1927 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 | 7262 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 | 2580 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 | 1949 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 | 4199 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 | 2807 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 | 2787 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 | 1984 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 | 1747 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 | 2586 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 | 1409 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 | 1663 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 | 1455 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 | 1720 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 | 1129 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 | 1974 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 | 1694 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 | 4610 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 | 2145 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

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