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African Sun to Sell Monomotapa Hotel
The Zimbabwe Stock Exchange-listed hospitality group, African Sun Limited, has announced plans to sell its flagship property, the Monomotapa Hotel Crowne Plaza in Harare. The move comes as part of a s...Published: 01 Nov 2024 at 06:27hrs | 296 | by Sgtaff reporter
Choppies mulls Zimbabwe exit
Botswana-based retailer Choppies Enterprise Limited is contemplating a withdrawal from the Zimbabwean market, citing significant financial pressure stemming from the instability of the newly introduce...Published: 29 Oct 2024 at 07:44hrs | 6749 | by Staff reporter
'Something stinks at the Highlanders clubhouse'
THE car wash business at the Highlanders clubhouse that paid the Bulawayo giants US$50 in revenue for the whole of 2023 as revealed by financial statements read out by club interim treasurer Israel Mo...Published: 02 Feb 2024 at 04:53hrs | | by Staff reporter
Bosso treasurer presents unaudited financials again
For the second time in a row, Highlanders members were subjected to club treasurer's unaudited financials at their Annual General Meeting (AGM).Bosso members converged at their clubhouse in No...Published: 29 Jan 2024 at 05:55hrs | | by Staff reporter
Zimbabwe allows cement imports after prices double
Zimbabweans can now freely import cement, the government says, a response to a doubling of prices caused by surging demand and depressed local production.Cement prices are rising due to a comb...Published: 09 Nov 2023 at 05:57hrs | 8 | by Staff reporter
51 Zimbabwe parastatals fail to submit financials
A total of fifty-one state-owned enterprises have failed to submit their financial statements for auditing to the Auditor-General, as required by law.The Acting Auditor-General, Mrs. Rhea Kuji...Published: 02 Nov 2023 at 05:40hrs | 7 | by Staff reporter
Zimbabwe-listed companies get leeway to report financials in US dollars
Zimbabwean companies listed on the stock exchange are now permitted to present their financial statements in US dollars due to the swift dollarization of the economy. The CEO of the Zimbabwe Stock Exc...Published: 12 Oct 2023 at 18:21hrs | | by Staff reporter
Econet, EcoCash announce rights offer
LISTED telecoms firm Econet Wireless Zimbabwe Limited (EWZL) and its subsidiary EcoCash Holdings yesterday announced a renounceable rights issue to raise US$30,3 million for the redemption of existing...Published: 25 Jul 2023 at 08:23hrs | | by Staff reporter
'If Zimdollar is abandoned markets and financial institutions will recover'
As the Zimbabwean dollar continues to battle for its survival under severe pressure from the United States dollar despite its recent recovery rally, John Legat, Imara Asset Management (Zimbabw...Published: 21 Jul 2023 at 07:56hrs | | by Staff reporter
CSC takeover deal hits fresh turbulence
COLD Storage Company (CSC) corporate rescue practitioner has filed an urgent High Court application seeking the suspension of a Livestock Farming Concession Agreement (LFCA) signed between government ...Published: 02 Jul 2023 at 07:44hrs | 8 | by Staff reporter
Bosso auditors quit amid threats, tensions
HIGHLANDERS Football Club is facing a crisis that threatens its reputation and financial stability. Recent events have unfolded, leading to the resignation of the club's auditors, PNA Chartered Accoun...Published: 17 Jun 2023 at 08:06hrs | 1 | by Staff reporter
Bosso executives survive vote of no confidence
HIGHLANDERS Football Club's executive survived a vote of no confidence after the auditors issued an adverse opinion on the club's financials which paints a bad picture of the institution.An ad...Published: 22 May 2023 at 06:35hrs | | by Staff reporter
Zimbabwe parly miffed by high parastatals debt
THE Parliamentary Portfolio Committee on Budget, Finance and Economic Development is conducting public hearings to determine the level of debt held by State-owned firms, with early signs suggesting th...Published: 19 May 2023 at 20:44hrs | 1 | by Staff reporter
Highlanders' books open to manipulation
HIGHLANDERS Football Club is battling the flames that are threatening the stability of the club after auditors flagged some discrepancies in the club's books.According to a report sent to mana...Published: 22 Apr 2023 at 18:59hrs | | by Staff reporter
Highlanders' financials: Something is STINKING!
HIGHLANDERS Football Club's bonafide members will have to wait a bit longer to receive audited financial statements for the year ending December 31, 2022 after it emerged that the auditors are yet to ...Published: 25 Feb 2023 at 07:02hrs | | by Staff reporter
Zimbabwe police move to raid Tetrad Bank directors
THE Criminal Investigation Department (CID) Asset Forfeiture Unit has obtained a warrant of search and seizure against Tetrad Investment Bank (TIB) management and directors in a case of fraud and mone...Published: 09 Dec 2022 at 17:53hrs | 4 | by Staff reporter
Concerns over Zimdollar depreciation
CHARTERED accountants have expressed concern over the loss of value of the Zimbabwe dollar which is proving a challenge when putting together financial statements.They fear this could lead to ...Published: 02 Dec 2022 at 04:58hrs | | by Staff reporter
Mhona slams parastatals over non-compliance
TRANSPORT minister, Felix Mhona has slammed public entities under his purview for failing to comply with the Public Entities Corporate Governance Act (PECGA).Speaking at the Line Minister's Pu...Published: 21 Nov 2022 at 04:59hrs | | by Staff reporter
Thumbs up to a renewed ZANU PF!
The historic November 2017 Central Committee meeting which saw a change of guard at the ruling party HQ brought a number of positive developments for the party. Party First Secretary and Presi...Published: 26 Oct 2022 at 07:09hrs | | by Nicholas Ncube
Shareholders fight directors over Tetrad Bank control and assets
TETRAD Investment Bank (TIB) shareholders are locked in a heated row with its directors for the control of the defunct financial institution's US$13 million assets. TIB has properties and othe...Published: 12 Oct 2022 at 18:49hrs | 2 | by Agencies
Shot in the arm for people with albinism
Stanbic Bank has lived up to its reputation as a community-centric institution by donating ZW$24. 7 million worth of sun protection products to the Albino Charity Organisation of Zimbabwe (ALCOZ). ...Published: 02 Sep 2022 at 06:44hrs | 1 | by Staff reporter
NRZ assets revalued to US$3 billion
NATIONAL Railways of Zimbabwe (NRZ)'s assets have been revalued at over US$3 billion, meaning the parastatal is not insolvent as previously alleged, a senior official said.Previously, the Stat...Published: 23 May 2022 at 06:35hrs | | by Staff reporter
Picking Zimbabwean Sitho Mdlalose as Vodacom SA boss raises eyebrows
The Zimbabwean diaspora seems to ...Published: 12 May 2022 at 07:13hrs | | by Gugu Lourie
Money heist at CSC pension fund
THE Cold Storage Company (CSC)'s pension fund has been rocked by a scandal involving some former top executives, who are allegedly implicated in the spiriting away of millions of United States dollars...Published: 08 Apr 2022 at 12:11hrs | 8 | by Staff reporter
Kamambo's Zifa board is the best, says Omega Sibanda
FORMER Zifa vice-president and Member of Parliament Omega Sibanda ranks the suspended Zifa board led by Felton Kamambo as the best to have taken charge of local football, and says their banishment is ...Published: 07 Apr 2022 at 06:41hrs | | by Staff reporter
MPs corner Mthuli Ncube
MEMBERS of Parliament have asked the Ministry of Finance and Economic Development to disclose the list of companies paying corporate taxes to government as part of measures meant to enhance transparen...Published: 20 Feb 2022 at 09:03hrs | | by Staff reporter
MPs demand full corporate tax disclosures
ZIMBABWE'S legislators have asked the Ministry of Finance and Economic Development to disclose the list of companies paying corporate taxes to government as part of measures meant to enhance transpare...Published: 20 Feb 2022 at 08:55hrs | | by Staff reporter
400 schools operating illegally in Harare
The dramatic rise in numbers of small private schools has now seen more than 400 such schools operating illegally in Harare with the office of the Minister of State for Harare Provincial Affairs and D...Published: 18 Jan 2022 at 05:29hrs | | by Staff reporter
ZIMTA bosses in massive corruption storm
THE Zimbabwe Teachers Association (Zimta) top leadership has been dragged to court after failing to furnish members with audited financial records amid suspicions that subscription fees running into m...Published: 12 Nov 2021 at 05:30hrs | 6 | by Staff reporter
The primary benefits of adaptive planning
If you're still using spreadsheets for your business plans, or are making strategic decisions sans comparisons data, you're already behind. To bring your financials, workforce, and sales planning up t...Published: 27 Oct 2021 at 22:42hrs | 9 | by Staff Writer
Currency instability puts ZSE as best performer in region
AFTER surpassing its own performance record (again), the Zimbabwean dollar-denominated exchange extended 2021 gains as the market's counters continue facing economic uncertainties in the closing quart...Published: 08 Oct 2021 at 19:04hrs | 7 | by Equity Axis View
Inside Zimbabwean tycoon Billy Rautenbach's offshore family trust
Records from a massive offshore data leak have provided the most detailed account yet of buccaneering mining and fuel magnate Billy Rautenbach's family empire.It started with a marriage settle...Published: 05 Oct 2021 at 06:40hrs | | by Daily Maverick
2021 Mid Term Monetary & Budget analysis
The latest mid-term budget and monetary policy statements were presented in a low key mode with emphasis on avoiding policy shocks that can rock the economy. The Zimbabwean government revised upwards ...Published: 01 Sep 2021 at 15:30hrs | | by Victor Bhoroma
ZEC defends self on failure to submit 2018 -2019 financials for audit
The Zimbabwe Electoral Commission (ZEC) has defended itself from reports that it has failed to submit financial reports for 2018 and 2019 for audit.The defence was made through a statement by ...Published: 27 Aug 2021 at 10:02hrs | | by Stephen Jakes
Inefficient auction system dragging economic recovery
Zimbabwe has managed to turnaround and achieve double digit annual inflation from a periodic high of 838% realized in July 2020 to 56% achieved in July 2021. The redollarization of the local economy a...Published: 04 Aug 2021 at 15:57hrs | 1 | by Victor Bhoroma
Zec under pressure to release 201819 financials
THE Zimbabwe Electoral Commission (Zec) has been put under pressure to avail its 2018 and 2019 books of accounts for audit by Auditor-General Mildred Chiri as stipulated by section 195 of the Constitu...Published: 20 Jul 2021 at 08:23hrs | | by Staff reporter
Mnangagwa govt goes after lawyers
PRESIDENT Emmerson Mnangagwa has torched another storm after his top aide sensationally claimed that some white-run law firms affiliated to the Law Society of Zimbabwe (LSZ) were being used as conduit...Published: 23 Jun 2021 at 07:25hrs | 2 | by Staff Reporter
Delta red-flags Zimbabwe policies
ZIMBABWE Stock Exchange (ZSE)-listed beverages manufacturer, Delta Corporation yesterday added its voice to growing concerns over policy inconsistency and currency volatility in the country, saying th...Published: 11 Jun 2021 at 07:39hrs | 1 | by Staff reporter
Division One clubs revolt against Zifa
ZIFA Southern Region Division One League clubs have rebelled against the board and refused to pay affiliation fees over $300 000 in sitting allowances claimed by board members in 2020 when no physical...Published: 03 Jun 2021 at 07:03hrs | 6 | by Staff reporter
Bosso build up to 2026
HIGHLANDERS FC will line up several activities between now and 2026 when the institution celebrates 100 years.The club's marketing committee is expected to line up events towards the grand cel...Published: 29 May 2021 at 08:14hrs | 2 | by Staff reporter
Mthuli Ncube clarifies $18bn stimulus package
THE implementation of the $18 billion Covid-19 stimulus financing for the private sector is still ongoing and the Government is providing only 50 percent guarantee through local banks.Finance ...Published: 21 May 2021 at 05:57hrs | | by Staff reporter
Biti's pessimism over RBZ forex auction defied by listed companies
LISTED companies reporting their latest financials have effectively defied claims made by former finance minister, Tendai Biti the Reserve Bank of Zimbabwe foreign exchange auction system was a rigged...Published: 21 Apr 2021 at 06:59hrs | | by Staff reporter
Econet seeks nod at accept US dollar payments
Telecommunications giant Econet Wireless Zimbabwe is looking to engage authorities for permission to take payments in foreign currency for some of its products. In March this year, the Governm...Published: 08 Dec 2020 at 06:27hrs | | by Staff reporter
Excitement over city status grips Victoria Falls
IT'S finally happening for Victoria Falls. The city fathers are excited that the resort town municipality is upgrading into a city. Victoria Falls Mayor Councillor Somvelo Dlamini said the lev...Published: 12 Nov 2020 at 05:46hrs | | by Staff reporter
Victoria Falls gets city status
PARLIAMENT has approved Victoria Falls' city status following recommendations by a commission that was set up to assess the town's capacity. Local Government and Public Works Minister July Moy...Published: 30 Oct 2020 at 06:21hrs | 1 | by Staff reporter
Red flag over inflation data
A PROFESSIONAL accountants' body has raised the red flag over factoring blended inflation data during the preparation of statements, saying firms pursuing this model risked distorting their organisati...Published: 21 Oct 2020 at 21:52hrs | 6 | by Staff reporter
SRC, ZC end tiff
The impasse between the Sports and Recreation Commission (SRC) board and the Zimbabwe Cricket (ZC) board, had been resolved following a meeting between the two parties on Friday, NewsDay Sport reporte...Published: 06 Aug 2019 at 07:37hrs | 1 | by Staff reporter
Air Zimbabwe gets fresh hope for international flights
STRUGGLING flag carrier Air Zimbabwe (AirZim) might regain its wings to fly internationally after a Netherlands-based company, Knighthood Capital (Knighthood), recently tabled an offer to partner the ...Published: 19 Jul 2019 at 07:53hrs | | by Staff reporter
Mthuli Ncube told to stay out of politics
Dangote Group, representative in Zimbabwe, Mrs Josey Mahachi has told Finance Minister Mthuli Ncube to stay clear from the game of politics and focus on his job as a Finance Minister. Ncube on...Published: 10 Jun 2019 at 14:04hrs | | by Mandla Ndlovu
NRZ misses revenue target
THE National Railways of Zimbabwe (NRZ) generated ZWL$29,4 million revenue in the first quarter of the year, ZWL$4 million short of its ZWL$33,4 million target, an official has said.NRZ spokes...Published: 04 Jun 2019 at 07:17hrs | | by Staff reporter
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