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Peter Moyo takes Trevor Manuel chaired Old Mutual to court
Eric Mabuza will represent Moyo in dismissal challengeAdvocate Eric Mabuza confirmed to Fin24 on Tuesday evening that he will be representing dismissed Old Mutual CEO Peter Moyo in a court case ch...Published: 11 hrs ago | 940 | by fin24
Peter Moyo fired by Trevor Manuel chaired Old Mutual
The board of Old Mutual on Tuesday announced that it had fired its suspended chief executive Peter Moyo due to "a material breakdown in trust and confidence"."Moyo's actions since the suspensi...Published: 13 hrs ago | 1369 | by City Press
Rising demand pushes the ZSE
The Zimbabwe Stock Exchange (ZSE) climbed significantly during the week ended June 14 2019, on rising demand across the board. The market recorded gains for the 12th week in a row. All equity gauges t...Published: 16 Jun 2019 at 09:43hrs | 796 | by Fungai Nyaungwa
Insurance companies milking the public again
Dear Editor,There was a Commission of Inquiry set up to look at how insurance companies failed to compensate policyholders after the loss of value prior to 2009. The shareholders of these insu...Published: 10 Jun 2019 at 17:53hrs | 3538 | by Mandla Ndlovu
'Suffering of the populace is 'normal' under the economic transition,' says Mutsvangwa
Zimbabwe is experiencing severe birth pangs of transforming into a fully-fledged capitalist economy from a centralized economy, former presidential adviser Christopher Mutsvangwa said.His rema...Published: 10 Jun 2019 at 08:32hrs | 5326 | by Staff reporter
Dishonesty now biggest threat to democracy
Two inter-related issues - highlighted in two feedbacks I have received over the past six months - should be addressed as a matter of priority and urgency.The first one is do with what one mob...Published: 07 Jun 2019 at 06:54hrs | 114 | by Conway Tutani
Mutsvangwa son's illegal forex business raided, 4 cops arrested
Four police detectives have been arrested for under-declaring money seized during a raid on an illegal foreign currency trading business owned by the son of a Cabinet minister.Detectives Tafad...Published: 30 May 2019 at 17:28hrs | 9584 | by ZimLive
Mnangagwa's govt threatens to name, shame forex sharks
Government has threatened to name and shame alleged brains behind Zimbabwe's verdant parallel market which it says was fuelling the spike in the prices for basic goods and services.Information...Published: 30 May 2019 at 10:55hrs | 3711 | by Staff reporter
Mnangagwa's govt cracks whip on fuel sector
GOVERNMENT has started cracking down on illegal dealings in the fuel sector which include unilateral price increases and demands for foreign currency as the only form of payment. Energy ...Published: 29 May 2019 at 08:45hrs | 2634 | by Staff reporter
Zimbabwean born CEO suspended by Old Mutual over ‘breakdown in trust'
Financial services group Old Mutual says it has suspended CEO Peter Moyo over a "breakdown in trust".Following a series of talks, the Old Mutual board decided that "there has been a material b...Published: 24 May 2019 at 09:52hrs | 3771 | by Staff reporter
Mutsvangwa pins parallel market financial distortions on Old Mutual
FORMER Presidential Advisor Ambassador Chris Mutsvangwa has blamed Old Mutual for causing parallel market financial distortions where the exchange rate has "inordinately" risen due to the Old Mutual I...Published: 24 May 2019 at 06:39hrs | 4055 | by Staff reporter
'Zimbabwe has no price distortions'
GOVERNMENT has denied there is a three-tier pricing system with Industry and Commerce deputy minister RajeshKumar (Raj) Modi claiming the 2019 Monetary Policy Statement (MPS) by Reserve Bank of Zimbab...Published: 13 May 2019 at 16:19hrs | 1124 | by Staff reporter
Old Mutual boss to step down
Old Mutual Zimbabwe group chief executive Jonas Mushosho, is set to leave the financial services giant before year end, at a time the firm is restructuring and bundling up its business operations. ...Published: 13 May 2019 at 09:05hrs | 3126 | by Staff reporter
Massive retrenchments loom as Zimbabwe economy slows down
HUNDREDS of formal jobs are on the line in the economy as various businesses grapple with the realities of hyperinflation and exchange rate-induced losses. The market has witnessed massive price hikes...Published: 12 Apr 2019 at 09:14hrs | 4268 | by Victor Bhoroma
Facing national challenges: None but ourselves
In mid-March Zimbabwe together with Malawi and Mozambique fell victim to the violent and destructive Cyclone Idai which killed hundreds of people and left thousands displaced in these three southern A...Published: 08 Apr 2019 at 15:31hrs | 331 | by Nobleman Runyanga
Facing national challenges: None but ourselves
In mid-March Zimbabwe together with Malawi and Mozambique fell victim to the violent and destructive Cyclone Idai which killed hundreds of people and left thousands displaced in these three southern A...Published: 08 Apr 2019 at 12:17hrs | 145 | by Nobleman Runyanga
Old Mutual Zimbabwe may retrench 10% of its staff
Old Mutual Zimbabwe may shed 10% of its workforce in an effort to resize the business.In an email to employees, seen by Fin24, Old Mutual Zimbabwe said it is offering a retrenchment package to...Published: 06 Apr 2019 at 16:47hrs | 2047 | by Staff reporter
Zimbabwean born Peter Moyo gets R22.5-million payday
Old Mutual Chief Executive Peter Moyo earned a total of R35.5m in 2018, a period that saw the group complete its managed separation and list its African and emerging markets arm on the JSE.Moy...Published: 31 Mar 2019 at 22:47hrs | 3086 | by Staff reporter
Zimbabwe govt bonds raise $117m for roads
The rehabilitation of Beitbridge-Harare highway and other road projects got a major boost after Government raised $117 million from two separate bonds it floated in the market.A $150 million I...Published: 27 Mar 2019 at 23:42hrs | 340 | by Staff reporter
Zimbabwe companies get greenlight to report in US$
THE Public Accountants and Auditors' Board (PAAB) has issued a new reporting guidance framework that permits companies to present financials for year ending December 31, 2018 in United States dollars ...Published: 27 Mar 2019 at 07:00hrs | 918 | by Staff reporter
Mugabeist G4Os and their aging geriatric could not even read the signs
In November 2018, His Excellency, President Emmerson Dambudzo Mnangagwa, boldly declared the open and unrelenting warfare against the evil of endemic corruption."In the Second Republic, we wil...Published: 10 Mar 2019 at 10:04hrs | 2314 | by Christopher Mutsvangwa
ZITF hotel budget thrown off track as inflation sets in
Zimbabwe's largest exhibition company Zimbabwe International Trade Fair (ZITF) is planning to construct a convention centre and hotel to beat accommodation shortages experienced in the previous editio...Published: 06 Mar 2019 at 06:24hrs | 686 | by Staff reporter
'New currency to steer self-correction of ZSE stock prices'
Market analysts expect a self-correction of the price of stocks listed on the Zimbabwe Stock Exchange (ZSE) following the establishment of the real time gross settlement dollar (ZWR) and floating of t...Published: 06 Mar 2019 at 05:49hrs | 1162 | by Staff reporter
Foreign investors can finally take money out of Zimbabwe
Foreign investors on the Zimbabwe Stock Exchange are likely to take a huge foreign exchange loss on their investments, but at least they can now have their money back following a new directive by the ...Published: 04 Mar 2019 at 19:33hrs | 5374 | by Staff reporter
Zimbabwe inflation hits 266%
International economist and currency expert Steve Hanke says Zimbabwe's inflation now sits at 266 percent following the Reserve Bank of Zimbabwe's recently-announced monetary policy.Just two w...Published: 04 Mar 2019 at 11:57hrs | 2088 | by Staff reporter
Zimbabwe urged to adopt currency board
ZIMBABWE should introduce an independent currency board which would stop the Reserve Bank of Zimbabwe (RBZ) from controlling the foreign currency exchange rate, an industry expert has said.In ...Published: 04 Mar 2019 at 07:25hrs | 1093 | by Staff reporter
Zimbabwe devaluation sees return of market sense
Zimbabwe's currency devaluation last week has led to a more realistic exchange rate, yet thin trading implies the new official interbank market isn't as free as officials suggested.The central...Published: 03 Mar 2019 at 00:49hrs | 453 | by Bloomberg
Old Mutual Zimbabwe to develop Hwange Town Centre
HWANGE Local Board has entered into an agreement with Old Mutual Zimbabwe for the development of a town centre, which will encompass the establishment of an estimated US$50 million Civic Centre, an of...Published: 03 Feb 2019 at 09:07hrs | 1567 | by Staff Reporter
'Zimbabwe inflation second only to Venezuela '
ZIMBABWE'S inflation rate has hit 290 percent – the second highest in the world after Venezuela (reportedly 80,000 percent at the end of 2018), United States economist and currency expert Steve Hank...Published: 28 Jan 2019 at 10:57hrs | 1115 | by African News Agency
ZSE counter opens strong
The Zimbabwe Stock Exchange (ZSE) opened the week strong, registering a 124% jump in turnover to $5,15 million from last week.Trading on the market was disturbed in the wake of labour unrest, ...Published: 23 Jan 2019 at 11:24hrs | 81 | by Staff reporter
Zimbabwe annual inflation rate surges to 236%
Renowned United States economist and currency expert Steve Hanke says Zimbabwe's annual inflation rate is at 236 percent, much higher than the official figure of 42,09 percent published by Zimbabwe Na...Published: 19 Jan 2019 at 11:51hrs | 1302 | by Staff reporter
Bid to loot Nkulumane Shopping Mall thwarted
BRAVE vendors operating from Nkulumane bus terminus have emerged as heroes after repelling violent protestors who wanted to loot shops at Nkulumane Shopping Complex in Bulawayo on Monday and Tuesday. ...Published: 19 Jan 2019 at 11:15hrs | 744 | by Staff reporter
ZSE charms investors
STOCKBROKERS Association of Zimbabwe vice-president Arnold Dhlamini expects higher trading on the Zimbabwe Stock Exchange (ZSE) due to a rise in inflationary pressures from the recent fuel increases....Published: 17 Jan 2019 at 07:29hrs | 182 | by Staff reporter
Zimbabwe's woes deepen
Not having a currency of its own hasn't stopped Zimbabwe from sliding into a currency crisis.A scarcity of foreign exchange has led to long queues for fuel, bread and medicine and sent prices ...Published: 15 Jan 2019 at 12:56hrs | 1344 | by Bloomberg News
Jonathan Moyo's lies on Masiyiwa exposed?
On Monday exiled Former G40 Kingpin Professor Jonathan Moyo wrote a scathing statement on Twitter seeking to expose how Telecoms Guru Strive Masiyiwa funded ZANU PF campaign during the bloody 200...Published: 09 Jan 2019 at 13:07hrs | 4726 | by Mandla Ndlovu
Net closes in on under-capitalised assurers
The Insurance and Pensions Commission (Ipec), is closely monitoring three under-capitalised life assurance firms - Evolution Life, Heritage and Fidelity Life - after the assurers closed the third quar...Published: 08 Jan 2019 at 20:58hrs | 200 | by Staff reporter
Life assurance profits down 63% in Q3
ZIMBABWE'S life assurance industry recorded 68 % decline in after tax profits to $314,85 million in the nine months to September 2018 compared to $979,27 million during the same period in 2017, the in...Published: 08 Jan 2019 at 09:20hrs | 129 | by Staff reporter
Strive Masiyiwa's Econet stranglehold challenged as shareholder tussle breaks out
AFTER years of brutal hyperinflation, Zimbabwe became known as a place where cash was almost worthless. Now, investors are fighting over EcoCash, the country's homegrown PayPal-like service that has z...Published: 03 Jan 2019 at 09:32hrs | 5228 | by Gabriele Steinhauser I The Wall Street Journal
CABS merge branches
CABS is merging its Greendale and Chisipite branches with effect from February 25 as a way of enhancing its digitalisation efforts.In a statement, the bank which boasts of more than 50 branche...Published: 02 Jan 2019 at 14:25hrs | 1469 | by Staff reporter
Foreigners blamed for causing fuel crisis in Zimbabwe
Foreigners who are smuggling fuel outside of Zimbabwe are causing increased demand which is contributing to its scarcity.Government said it will institute long term solutions to ensure adequat...Published: 25 Dec 2018 at 07:40hrs | 8317 | by Staff Reporter
'Mthuli Ncube's budget is a waste of time'
IT is a great pleasure to debate the 2019 national budget. This budget, Honourable Speaker Sir, could not have come at a time of greater fragility and greater vulnerability of our country....Published: 23 Dec 2018 at 09:14hrs | 1419 | by Tendai Biti
Entrepreneurship, the new spirit of Zimbabwe
The turn of the 21st century was not good for Zimbabwe as the country was slapped with illegal sanctions by the west which led to the closure of many industries. Despite going for nearly two decades w...Published: 21 Dec 2018 at 13:53hrs | 1553 | by Elijah Chihota
Dollars vs Zollars
Government's insistence on a fixed 1:1 exchange rate has continued to create headaches for companies who have to report within prescribed accounting standards. This comes as the US dollar, ado...Published: 06 Dec 2018 at 06:30hrs | 4320 | by Reuters
Chamisa's sign language interpreters get thumps up
Nelson Chamisa has been hailed by deaf groups for providing sign language interpretation on stage during his latest rallies.Chamisa, who addressed a bumper crowd at a rally held in Beitbridge ...Published: 05 Nov 2018 at 13:39hrs | 3009 | by Staff reporter
Children of War Vets bay for Masiyiwa's blood
Children of War Veterans Associations has came out guns blazing accusing Strive of corruption and manipulating shareholding of a number of companies in a dubious manner. Read the full open letter to M...Published: 04 Nov 2018 at 08:04hrs | 4411 | by Mandla Ndlovu
Zimbabwe official inflation misleading
Zimbabwe's official inflation is misleading and does not reflect the price increases of goods and services consumers are witnessing, a leading equities firm has said.The country's annual infla...Published: 30 Oct 2018 at 06:02hrs | 2318 | by Staff reporter
Fierce crackdown on parallel market drops forex rate
A fierce government crackdown on illegal forex dealers, increased electronic surveillance of bank accounts, deployment of state security agents and arrests of individuals suspected to be at the centre...Published: 26 Oct 2018 at 08:13hrs | 6195 | by Staff reporter
Zimbabwe goes it alone on Chirundu-Harare-Beitbridge Highway dualisation
GOVERNMENT has decided to go it alone and dualise the Chirundu-Harare-Beitbridge Highway while talks with Chinese Anhui Foreign Economic Construction Group Limited (Afecc) for the $2 billion tender co...Published: 18 Oct 2018 at 06:37hrs | 3230 | by Staff reporter
Nedbank buying back shares from minority shareholders
NEDBANK Group (Nedbank) says it will pay R2 billion (approximately US$139,6 million) to minority shareholders inherited from Old Mutual.The South Africa-based financial institution, which owns...Published: 17 Oct 2018 at 16:02hrs | 596 | by Staff reporter
ZSE shares in significant fall
Zimbabwe Stock Exchange shares fell significantly on Monday in continued self-correction following a panic-induced rally last week which saw the market trade in unchartered territories. A...Published: 16 Oct 2018 at 06:42hrs | 1319 | by Staff reporter
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