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Zimbabwe's Banking Sector and No Arrests Years Down the Line
United Merchant Bank (UMB) - Closed in 1998 due to insider loans and mismanagement.Universal Merchant Bank (UMB) - Closed in 2003 struggled with negative perceptions after UMB's collapse....Published: 05 Dec 2024 at 20:15hrs | 296 | by Engineer Jacob Kudzayi Mutisi
Zimbabwe's errant bankers must be punished
Vocal Harare political activist and business advocate, Engineer Jacob Mutisi, has called for stringent accountability for bankers and financial institutions involved in the mismanagement and fraudulen...Published: 05 Dec 2024 at 09:19hrs | 1400 | by Staff reporter
Zimbabwe's banking sector and no arrests years down the line
United Merchant Bank (UMB) - Closed in 1998 due to insider loans and mismanagement.Universal Merchant Bank (UMB) - Closed in 2003 struggled with negative perceptions after UMB's collapse....Published: 05 Dec 2024 at 09:07hrs | 606 | by Eng. Jacob Kudzayi Mutisi
Man commits suicide at in-laws' homestead
A 40-YEAR-OLD Mutoko man committed suicide at his in-laws' homestead on April 2 following a domestic dispute.Mike Diki of Hoyuyu village was found hanging from a tree by his mother-in-law Alic...Published: 06 Apr 2021 at 07:10hrs | | by Staff reporter
Failed banks creditors in fix
Creditors of six failed banks that are under final liquidation remain in a fix as the banks' liabilities far outweigh their cumulative assets, figures show. Latest figures from the Deposit Pro...Published: 25 Jul 2019 at 07:45hrs | | by Staff reporter
Closed banks: Depositors to be compensated in Zimdollars
GOVERNMENT has instructed its insurer to compensate holders of nostro accounts in closed banks in either US dollars or the equivalent in local currency, it was revealed.Currently, the Deposit ...Published: 24 Jul 2019 at 08:20hrs | 3 | by Staff reporter
The ZCTU should choose between labour and politics
A few days before the violent and ruinous protests of 14 to 16 January this year in the main cities of Harare, Bulawayo and Mutare, the Zimbabwe Congress of Trade Unions (ZCTU) president, Peter Mutasa...Published: 29 Apr 2019 at 13:13hrs | | by Nobleman Runyanga
James Makamba's multi-million SA home to be auctioned over debt
The luxury multi-million rand Johannesburg mansion of top Zimbabwean businessman James Makamba is to go under the hammer at the end of the month following an order of the court.Makamba, who is...Published: 07 Nov 2018 at 10:51hrs | | by Staff reporter
ZACC sets up special unit
The Zimbabwe Anti-Corruption Commission has established a special Economy and Trade unit to investigate on fraud, tax violations and economic sabotage in the public and private sectors.The tea...Published: 02 Sep 2018 at 08:50hrs | | by Staff reporter
BCC recovers only $32 000 of the $1 million from Metbank
THE Bulawayo City Council (BCC) has recovered from the Metbank $32 512 of the $1 million it lost after the financial institutions went under a few years ago.The local authority's finance depar...Published: 10 Jul 2018 at 07:26hrs | 7 | by Staff reporter
Lawsuits for failed banks executives
THE Deposit Protection Corporation (DPC) has sued directors of four failed banks for lack of corporate governance and abuse of depositors' funds.Last year, the deposit protection entity said t...Published: 25 Jun 2018 at 07:27hrs | | by Staff rpeorter
South Africa is the 33rd wealthiest country in the world
As part of the AfrAsia Bank South Africa Wealth Report 2018 we looked at where South Africa stands in the global wealth picture.According to the report, SA ranks 33rd worldwide in terms of tot...Published: 24 Apr 2018 at 16:01hrs | 1 | by Agencies
Failed banks haunt directors
THE Deposit Protection Corporation says there are sufficient legal instruments to facilitate successful prosecution of directors of failed banks for their roles in causing collapse of the institutions...Published: 19 Nov 2017 at 08:37hrs | | by Staff reporter
South Africa is making a 'historic mistake'
Proponents of the mantra of "radical economic empowerment" have found a new argument to the question whether it would destroy the South African economy as has happened in Venezuela and Zimbabwe: black...Published: 18 Oct 2017 at 18:01hrs | 19 | by Max Du Preez
Chanakira vies for Harare town clerk job
Nigel Chanakira headlines a stellar cast of top names vying for the coveted Harare town clerk Job.The Daily News can report that Chanakira, founder of the now defunct Kingdom bank and current ...Published: 11 Oct 2017 at 17:26hrs | | by Staff reporter
'I'm bitter, paraded $1.5 m dishonour cheque,' says Mugabe - perish thought, what about $15b
In 2012, the late Edward Chindori-Chininga said in parliamentary report that no one, no one in the companies doing mining, the local partner (whoever it happened to be) or anyone in position of author...Published: 20 Jun 2017 at 09:48hrs | | by Patrick Guramatunhu
Mujuru, contesting yet another flawed election is not new or 'strategic' - it is the crass of stupidity
"You can lead a horse to the river but you cannot make it drive." So, goes the common proverb. People are like an animal, you can present them with a golden opportunity, but you cannot force the indiv...Published: 13 Jun 2017 at 08:28hrs | | by Wilbert Mukori
Professor Moyo top on agenda is reform, reform not 'liberation struggle'
AfrAsia Bank has just declared that Zimbabweans are today the poorest people in Africa and where there is poverty, hunger, disease and death are there too! The country is tittering on the edge of the ...Published: 09 Jun 2017 at 23:21hrs | | by Nomusa Garikai
'We've destroyed indigenisation'
THE recent developments at Barclays Bank Zimbabwe have confirmed our greatest fear that indigenisation and economic empowerment would not survive in its original form, given that government ministers ...Published: 08 Jun 2017 at 13:52hrs | | by Davison Gomo
Zanu PF is rigging elections already with Moyo's 'connectedness' - MDC must be forced to see it
Zanu PF is already busy rigging the elections, there is no chance of opposition dislodging them from power. The only reason Morgan Tsvangirai and his MDC friends will not give up the claim of winning ...Published: 07 Jun 2017 at 23:24hrs | | by Nomusa Garikai
Catholic Bishops call for 'peaceful' elections - wilfully inadequate to stop Mugabe rigging
Zimbabweans are the poorest in Africa said a recent AfrAsia Bank report.When the country gained her independence 37 years ago, Zimbabweans were amongst the richest in the world with potential ...Published: 06 Jun 2017 at 06:58hrs | | by Wilbert Mukori
'Zanu PF cannot be dislodge,' admit insane Biti, in a fleet moment of sanity
"Even on a day turned night by the black clouds, the sun will sometimes break through or be it for a fleeting moment!" my late mother, full of proverbs, would say. "You must always listen careful to e...Published: 19 May 2017 at 15:56hrs | | by Patrick Guramatunhu
Ask what you can do for your country - 'I'm not a politician,' cop-out Mtukudzi
Zimbabwe's economic situation has reached the point where millions are suffered in dumb anguish and hundreds are dying every month unnecessarily for no other reason other than that they are poor. The ...Published: 19 May 2017 at 07:29hrs | | by Wilbert Mukori
'Mugabe won 2013 with tangible deliveries,' says UK Book - where is he hiding them
In Zimbabwe the ordinary people, especially in rural areas with no access to internet, outside radio and newspapers, are starved of useful and quality information. The regime has stifled all meaningfu...Published: 15 May 2017 at 22:15hrs | 1 | by Wilbert Mukori
We cannot 'compete against mafia', complain MDC - no one by greed compel them to
"At a time that long-suffering Zimbabweans are struggling to make ends meet, President Robert Mugabe's ruling Zanu PF is splurging up to $60 million on a new fleet of cars, trucks and buses, ahead of ...Published: 15 May 2017 at 07:36hrs | | by Wilbert Mukori
MDC-T fails to pay its workers
The MDC-T leadership has admitted that it is failing to pay about 110 employees after foreign donors dumped the party, which is now looking up to Government for salvation.The party, which clai...Published: 15 May 2017 at 06:47hrs | | by Staff reporter
Zanu-PF binges as nation starves
At a time that long-suffering Zimbabweans are struggling to make ends meet, President Robert Mugabe's ruling Zanu-PF is splurging up to $60 million on a new fleet of cars, trucks and buses, ahead of n...Published: 14 May 2017 at 15:50hrs | | by Staff reporter
Dr Nkosana Moyo contesting flawed 2018 is adding spoon of sewage to glass of milk = glass of sewage
"You will not be awarded any marks for answering the question YOU wanted asked!" my High School teacher used to warn us at the beginning of each examination. Today, Zimbabweans we are ...Published: 12 May 2017 at 18:55hrs | | by Nomusa Garikai
Chidyausiku 'hero' for supporting ruinous farm seizure - he sold-out and was richly rewarded
"Hero: a person who is admired for their courage, outstanding achievements, or noble qualities," according to the Oxford English Dictionary. Robert Mugabe has just declared the late Chief Just...Published: 10 May 2017 at 05:51hrs | | by Wilbert Mukori
Mugabe must stop misleading people
President Robert Mugabe's claims that the Zimbabwean economy is “only second to South Africa (SA)'s" is the kind of nonsense only dodos or the worst of his sycophantic supporters in his beleaguered ...Published: 09 May 2017 at 16:23hrs | | by Staff writer
Zimbabwe bank queues get longer
Despite authorities injecting more bond notes into the market and increasing their weekly importation of United States dollars by 50 percent, the government is dismally failing to stem the country's s...Published: 09 May 2017 at 10:28hrs | | by Staff reporter
'To save Zimbabwe, do something'
President Mugabe laughed at the suggestion that Zimbabwe is a fragile state. The question was put to him on Thursday at the World Economic Forum on Africa held in Durban.'That isn't true', he ...Published: 09 May 2017 at 10:05hrs | | by ZimVigil
Zimbabwe is a riddle inside an enigma; we poorest and/because/but we have richest ruling elite
Last week an AfrAsia report confirmed something many Zimbabweans already knew - that we are the poorest people in the poorest continent, Africa, on earth. We are the poorest people on earth! I...Published: 04 May 2017 at 18:04hrs | | by Patrick Guramatunhu
Zimbabwe not poor, not by a long shot
In 2013, a research website by the name New World Wealth published a "survey" report which bogusly claimed that Zimbabwe was the poorest country in Africa because of its "controversial indigenisation ...Published: 04 May 2017 at 06:37hrs | | by Bernard Bwoni
'I will not concede defeat,' said Tsvangirai - but why contest flawed elections in the first place!
There is a time and place for everything; there is a time to plough, time to sow and a time to tender crops. The richness of your harvest will be a measure of your diligence in keeping the rhythm of t...Published: 02 May 2017 at 17:59hrs | | by Wilbert Mukori
'There will be no 2018 elections with no reform' predicts Dr Mandaza - elections will go ahead
In an interview with Violet Gonda, Dr Ibbo Mandaza was right in emphasising the need for postponing the next elections in Zimbabwe until the democratic reforms are implemented. Sadly, this is exactly ...Published: 01 May 2017 at 13:51hrs | | by Nomusa Garikai
Armed robbers terrorise Zimbabweans
Police have warned both businesses and members of the public to be wary of gangs of armed robbers who have mounted a spate of heists, particularly in and around Harare - in a new crime wave that is ta...Published: 01 May 2017 at 12:31hrs | | by Staff reporter
Clearing World Bank arrears irresponsible and treasonous, says Biti
Finance minister Patrick Chinamasa's planned move to pay $1,1 billion towards settling Zimbabwe's World Bank dues is "criminally irresponsible and treasonous", former Finance minister Tendai Biti has ...Published: 01 May 2017 at 12:14hrs | | by Staff reporter
Zimbabwe's dying economy a 'ticking bomb'
Long-suffering Zimbabweans have laid into President Robert Mugabe's misfiring government, warning that the country's dying economy, worsening cash shortages and rising poverty levels are "a ticking ti...Published: 30 Apr 2017 at 14:19hrs | | by Staff reporter
Chinamasa's Trafigura deal; a betrayal of the working people of Zimbabwe
The announcement by Minister Chinamasa that he has found the US 1,1 billion needed to pay what Zimbabwe owes to the World Bank should cause distress to any right thinking Zimbabwean.The inte...Published: 28 Apr 2017 at 20:03hrs | | by Tendai Biti PDP President
Bond notes also vanish
There are fresh fears that the country's dying economy is hurtling towards the debilitating depths of the 2008 hyperinflationary era, as bond notes are now also disappearing from the market.Th...Published: 28 Apr 2017 at 07:30hrs | | by Staff reporter
NERA vows to stop Zanu PF rigging vote 'not now, not ever!' - boastful dog putting out fire with it's puny fart
Zimbabwe is in a serious economic and political mess brought on by nearly four decades of gross mismanagement and rampant corruption by this corrupt and tyrannical Mugabe led dictatorship. And, it mus...Published: 27 Apr 2017 at 21:47hrs | | by Wilbert Mukori
Zimbabwe poorest in Africa Mugabe refuses to 'accept responsibility' - only free
Zimbabwe's veteran economist John Robertson is arguing government to urgently change its policies to attract investment to end the country's growing poverty."The problem is no one in this gove...Published: 26 Apr 2017 at 17:26hrs | | by Nomusa Garikai
'Zimbabweans the poorest in Africa,' AfrAsia report - recovery start with…
"According to the Africa 2016 Wealth Report, Zimbabwe has been ranked as the country with the poorest people on the continent, with average wealth of $200 per person," reported Bulawayo24.com....Published: 25 Apr 2017 at 22:53hrs | | by Wilbert Mukori
Zimbabwe officially ranked as the poorest country in Africa?
Amid the embarrassing news that Zimbabwe has now been officially ranked as the poorest country in Africa, economic experts say the government has no choice but to introduce much-needed policy reforms ...Published: 25 Apr 2017 at 12:45hrs | 3 | by Ndakaziva Majaka
Dokora's Muslim syllabus
The diaspora was surprised to learn from the Primary and Secondary Education Minister, Lazarus Dokora, that Islam was Zimbabwe's biggest religion in 1980 and was the country's 'designated' indigen...Published: 10 Apr 2017 at 11:34hrs | 1 | by Zimvigil
Zimbabweans ranked among Africa's poorest citizens
Zimbabweans have been ranked among Africa's poorest citizens, with an average wealth of $200 per person, a survey by AfrAsia Bank (AfrAsia) has revealed.According to the study - Africa Wea...Published: 04 Apr 2017 at 12:21hrs | | by Staff reporter
Tsvangirai's MDC-T fails to pay employees
More than 62 MDC-T workers on Wednesday held a demonstration at the opposition party's headquarters in Harare after going for more than 17 months without salaries.The Herald has it on good...Published: 31 Mar 2017 at 06:19hrs | | by Staff reporter
Depositors of collapsed banks urged to make follow-ups
Depositors of collapsed banks are struggling to submit repayment claims resulting in US$3.3 million being held up at the Deposit Protection Corporation (DPC).The slow response by some depo...Published: 14 Dec 2016 at 13:57hrs | | by Staff reporter
Mugabe ally loses home over debt
AN up market property belonging to Zanu-PF Harare East legislator, Terrence Mukupe will be auctioned by the Deputy Sheriff today to recover debts owed to FBC Bank.According to a Government...Published: 06 Oct 2016 at 07:56hrs | | by Staff reporter
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