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Corporate Raiding Plot Unraveling: Nssa and RTG Directors Meet to Tackle Manipulation of Share Prices and Takeover Attempt
NATIONAL Social Security Authority (Nssa) and Rainbow Tourism Group (RTG) directors and management executives are set to meet today to deal with the plot to take over the tourism and hospitality giant...Published: 25 Feb 2025 at 13:16hrs | 204 | by NewsHawks
Crisis meeting over RTG alleged takeover plot
Directors and senior executives from the National Social Security Authority (NSSA) and Rainbow Tourism Group (RTG) are set to meet today in an urgent bid to address a suspected plot to manipulate the ...Published: 24 Feb 2025 at 09:25hrs | 1583 | by Staff reporter
Khaya Cement to de-list on ZSE
KHAYA cement is set to de-list on the Zimbabwe Stock Exchange (ZSE) as part of the resuscitation strategy amid indications that the major shareholder, Fossil Mines, will sale its shares at a loss as s...Published: 19 Feb 2025 at 20:21hrs | 388 | by Staff Reporter
NSSA chairman embroiled in underhand Rainbow Tourism Group takeover bid
NATIONAL Social Security Authority (Nssa) chairman Emmanuel Fundira, who is former chairman of African Sun Limited, and an ex-Rainbow Tourism Group (RTG) senior executive Paula January are accused of ...Published: 18 Feb 2025 at 20:01hrs | 1409 | by NewsHawks
Mnangagwa, Hichilema come face to face
President Emmerson Mnangagwa and his Zambian counterpart Hakainde Hichilema had an uneasy public interaction in Addis Ababa, Ethiopia, yesterday, as their strained diplomatic relations played out duri...Published: 16 Feb 2025 at 16:47hrs | 3815 | by Staff reporter
Mphoko's son moves to block Choppies sale to Raji Modi
Siqokoqela Mphoko, son of the late former Vice President Phelekezela Mphoko, has filed an urgent chamber application seeking to prevent the sale of Choppies Zimbabwe to Bulawayo businessman and Deputy...Published: 16 Feb 2025 at 16:42hrs | 1925 | by Staff reporter
Bank manager grilled in Gono fraud case
The trial of a Harare couple accused of fraudulently altering the directorship of Valley Lodges, a property linked to former Reserve Bank of Zimbabwe (RBZ) Governor Gideon Gono, continued on Friday, w...Published: 16 Feb 2025 at 07:47hrs | 833 | by Staff reporter
Court reinstates gold mine shareholder's rights
The High Court has overturned a decision by minority shareholders of Botha Gold Mine to remove Themba Hlongwane from his position, bringing a close to a contentious boardroom coup that had sparked a f...Published: 10 Feb 2025 at 06:39hrs | 286 | by Staff reporter
Bus operator ordered to pay US$145,000 for fatal crash
Mandeep Tours, a luxury bus operator, has been ordered to pay US$145,042.94 in damages to Govasberg, another bus company, for the total loss of its bus in a tragic head-on collision that claimed 13 li...Published: 10 Feb 2025 at 06:34hrs | 1012 | by Staff reporter
Promising findings from Gwanda mining claims
Canadian mining company Pambili Natural Resources Corporation has revealed promising findings from its London Wall group of gold mines and claims in the Gwanda district of Matabeleland South, Zimbabwe...Published: 07 Feb 2025 at 06:37hrs | 307 | by Staff reporter
Legal battle over Gono linked company continues in Harare court
A Harare couple, Aisha and Clark Clever Makoni, is embroiled in a legal dispute over allegations of fraudulently altering the directorship of Valley Lodges, a company reportedly linked to former Reser...Published: 04 Feb 2025 at 16:47hrs | 115 | by Staff reporter
Mnangagwa's govt accused of Intellectual Property theft
Zimbabwe's government is embroiled in a heated dispute with Time Bank after the financial institution accused authorities of infringing on its intellectual property rights. The bank claims that govern...Published: 01 Feb 2025 at 14:03hrs | 2001 | by Staff reporter
NRZ fires General manager Zinyanduko
National Railways of Zimbabwe (NRZ) has fired their general manager Respina Zinyanduko today.In a statement NRZ said the move was necessitated by the organization's realigning and restructure ...Published: 31 Jan 2025 at 12:54hrs | 4485 | by Simbarashe Sithole
Triangle retrenches as economy bites
Sugar producer Triangle Limited has announced a phased retrenchment program, with the first group of employees set to leave by the end of next month, citing a tough operating environment.In a ...Published: 15 Jan 2025 at 06:38hrs | 278 | by Staff reporter
Tongaat Hulett to sell Zimbabwe operations in ZAR5.9 billion deal
South African agriculture and agri-processing giant, Tongaat Hulett Limited (THL), has announced its decision to offload its Zimbabwe operations to the Vision Group, a South African investment consort...Published: 29 Dec 2024 at 08:49hrs | 1088 | by Staff reporter
Zupco to import spare parts for 100 grounded buses
Zimbabwe United Passengers Company (Zupco) CEO George Chigora has revealed plans to import spare parts for 100 grounded buses, as the public transporter seeks to revitalize its fleet and improve servi...Published: 21 Dec 2024 at 08:26hrs | 230 | by Staff reporter
Open Letter: Meikles Board of Directors
Board of Directors Meikles Limited Block 4 Tendeseka Park Renfrew Road & Samora Machael Eastlea South Harare Zimbabwe Dear remaining Members of the Board, I...Published: 19 Dec 2024 at 12:32hrs | 406 | by Engineer Jacob Kudzayi Mutisi
Stanbic named best ovderall bank 2024
Harare, 17 December 2024 - Stanbic Bank Zimbabwe has been named the overall best performing bank at the Banks and Banking Survey Awards 2024 sponsored by First Capital Bank. Stanbic Bank has n...Published: 17 Dec 2024 at 09:15hrs | 456 | by Agencies
CBZ blocked from increasing FMHL stake
CBZ Holdings has confirmed that it will not proceed with its planned buyout of minority shareholders in First Mutual Holdings Limited (FMHL), following a decision by the Competition and Tariff Commiss...Published: 10 Dec 2024 at 06:52hrs | 210 | by Staff reporter
8 file papers for Zifa presidency, Prophet Magaya missing
At least eight candidates have thrown their hats into the ring for the Zimbabwe Football Association (ZIFA) presidency, with nominations set to close this Wednesday. The much-anticipated elections wil...Published: 08 Dec 2024 at 09:28hrs | 2969 | 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 20:15hrs | 305 | 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 | 1408 | 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 | 609 | by Eng. Jacob Kudzayi Mutisi
'John Moxon tried to sell Victoria Falls Hotel stake without board approval'
Tensions at Meikles Limited have reached a boiling point, as a group of four directors has accused the company's non-executive chairman, John Moxon, of attempting to sell the group's 50% stake in the ...Published: 04 Dec 2024 at 09:21hrs | 1744 | by Staff reporter
Econet in shares battle with former workers
The High Court has issued a default judgment ordering Econet Wireless (Pvt) Ltd to release the relevant documents related to the transfer of over two million shares promised to eight former employees ...Published: 04 Dec 2024 at 08:07hrs | 3559 | by Staff reporter
Zanu-PF's Raj Modi interested in Choppies acquisition
Local trading firm Pin Tail Trading, which operates the Sai Mart retail chain, has expressed interest in acquiring Choppies Enterprises Limited's Zimbabwe operations. The leading supermarket chain rec...Published: 01 Dec 2024 at 08:54hrs | 3503 | by Staff reporter
Mphoko points to legal disputes as why Choppies is exiting Zimbabwe
Choppies Enterprises Limited has revealed plans to cease its operations in Zimbabwe, citing increased competition from the informal sector among other challenges. However, former Vice President Phelek...Published: 30 Nov 2024 at 15:42hrs | 2867 | by Staff reporter
Mupita's contract extended by MTN Group
MTN has announced an extension of Group CEO Ralph Mupita's contract until 31 August 2030. It was originally set to run until 30 September 2025.The company says the MTN Group board of directors...Published: 30 Nov 2024 at 15:13hrs | 513 | by Staff reporter
Choppies considers exiting Zimbabwe
Choppies Enterprises Limited has announced its intention to sell the business operations of its wholly-owned subsidiary, Nanavac (Pty) Ltd, trading as Choppies Zimbabwe, subject to discussions and reg...Published: 29 Nov 2024 at 18:26hrs | 6211 | by Staff reporter
John Moxon calls meeting to sack his Meikles board
John Moxon was in a hospital bed when Meikles directors met to sell off a key asset and fire the CEO - and he claims someone lied that his phone had been "compromised" to keep him in the dark about it...Published: 27 Nov 2024 at 08:47hrs | 2794 | by Staff reporter
John Moxon questions appointment of son as CEO
Meikles Limited's board chairperson and major shareholder, John Moxon, has accused his fellow directors of bypassing proper governance procedures in the appointment of his son, Matthew Moxon, as the c...Published: 27 Nov 2024 at 07:11hrs | 1320 | by Staff reporter
Private sector efficiency: South Africa's Murray & Roberts enters business rescue
Murray & Roberts (M&R) Limited has entered business rescue due to a severe cash crunch in its South African operations. The company, whose shares have fallen 64% recently, is also look...Published: 24 Nov 2024 at 15:40hrs | 2039 | by Staff reporter
Matsika's bid for Croco Motors hits final legal roadblock
Businessman Farai Matsika's prolonged legal battle to claim shareholding in Croco Motors has reached a conclusive end, with the High Court striking his latest case off the roll. This marks the latest ...Published: 23 Nov 2024 at 12:46hrs | 311 | by Staff reporter
Bulawayo residents demand transparency on Dutch water utility deal
Concerns are growing among Bulawayo residents over the involvement of the Dutch water utility company Vitens Evides International (VEI) in managing the city's water and sanitation services, with many ...Published: 22 Nov 2024 at 09:00hrs | 397 | by Staff reporter
Dutch firm sssures Bulawayo residents that water will not be privatised
Vitens Evides International (VEI), a Dutch water utility company, has reassured Bulawayo residents that its proposed framework for managing the city's water and sanitation services will not involve pr...Published: 21 Nov 2024 at 13:06hrs | 1816 | by Staff reporter
War vets company holds AGM amid squabbles
Zvimba East Veterans Investment Company (Zevic), a company wholly owned by veterans of the liberation struggle, is set to hold its Annual General Meeting (AGM) on December 20, 2024, despite ongoing sh...Published: 21 Nov 2024 at 06:30hrs | 204 | by Staff reporter
Paid an arm and leg for Hwange Unit 7 & 8 and yet they not generating - Chinese demanding head in a silver platter!
ZESA's explanation of reduced generation from Hwange Thermal Power Station especially due to repeated Units 7 and 8 did not make any sense at all. The two units costing US$ 1.4 billion were commission...Published: 20 Nov 2024 at 21:17hrs | 2646 | by Wilbert Mukori
Stanbic Bank Steps up efforts to promote International Trade
Harare - 20 November 2024 - Leading financial services institution, Stanbic Bank Zimbabwe has stepped up efforts to promote international trade by launching an e-book which guides locals on how to sou...Published: 20 Nov 2024 at 21:09hrs | 215 | by Agencies
Innscor engages govt over tax
Innscor Africa Limited has raised concerns over high taxes and their detrimental impact on the company's profitability, warning that the escalating cost-push pressures are putting a strain on its fina...Published: 18 Nov 2024 at 15:06hrs | 176 | by Staff reporter
Gono company directorship change case takes new twist
The trial of Clark Clever Makoni and his wife Beverly Aisha Ndonda Makoni resumed yesterday, with the prosecution alleging that the couple engaged in fraudulent activities by illegally changing the di...Published: 01 Nov 2024 at 06:40hrs | 475 | by Staff reporter
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 | 385 | by Sgtaff reporter
Deeds Office sucked into Harare land scam
The Harare City Council (HCC) land scam involving plots in Greendale has escalated, drawing in the Deeds Office amid serious allegations of the creation of fake deeds by individuals allegedly linked t...Published: 21 Oct 2024 at 07:51hrs | 717 | by Staff reporter
Barak Obama is out of touch about Kamala!
Brother Obama, president (2008-2016) is himself the cause for the decline of support among blacks for the Democratic Party.The entry of former president Barak Obama into the fray on behalf of ...Published: 20 Oct 2024 at 14:03hrs | 177 | by Kenneth Mufuka
Zimbabwe mining company seeks intervention from Australian Ambassador
Shamva-based gold mining company Korzim Strategic Minerals (Pvt) Ltd has reached out to Vice-President Kembo Mohadi and Australian Ambassador to Zimbabwe Minoli Perera, alleging misconduct by an Austr...Published: 20 Oct 2024 at 12:22hrs | 639 | by Staff reporter
SA constitution serves the elite and the neoliberal agenda
The MK Party has called for the scrapping of South Africa's constitution, claiming it serves the elite and the neoliberal agenda. The party, led by former president Jacob Zuma who was in the A...Published: 19 Oct 2024 at 19:59hrs | 262 | by Staff reporter
5 police officers acquitted on US$15,000 extortion charges
Five Harare police officers who were accused of demanding a US$15,000 bribe from a company director to drop false rape charges have been acquitted. Harare magistrate Donald Ndirowei cleared the office...Published: 14 Oct 2024 at 08:12hrs | 252 | by Staff reporter
Telecel Zimbabwe faces scandal over disappearance of generators
Telecel Zimbabwe, one of the country's three mobile telecommunications companies, is embroiled in a scandal following the alleged theft of 20 generators used to provide backup power to its network tow...Published: 13 Oct 2024 at 12:20hrs | 311 | by Staff reporter
Dairibord has no plans to exit Zimbabwe
Dairibord Holdings has firmly dismissed recent online reports suggesting that the company is planning to shut down its operations in Zimbabwe and relocate to South Africa. The group has reaffirmed its...Published: 09 Oct 2024 at 07:36hrs | 306 | by Staff reporter
Kudenga, Masunda bid to grab Oliver Chidawu's estate flops
Attempts by chartered accountant Ngoni Kudenga and former Harare Mayor Muchadeyi Masunda to grab late former Harare Metropolitan Affairs and Devolution minister Oliver Chidawu's estate have been stopp...Published: 05 Oct 2024 at 12:09hrs | 641 | by Staff reporter
Businessman, lawyer in US$800k fraud scandal
Harare businessman Ariginero Muzeya and lawyer Agness Chatsama have been charged in a fraud case involving US$800,000, stemming from the alleged illegal sale of a valuable property. The duo appeared b...Published: 01 Oct 2024 at 08:57hrs | 310 | by Staff reporter
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