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Stripping of hotel group's assets at African Sun?
African Sun, a leading hospitality group, has announced plans to divest the Great Zimbabwe Hotel in Masvingo and the Beitbridge Express Hotel to TD Hotels & Leisure (Private) Limited.In a ...Published: 09 Sep 2024 at 08:33hrs | 829 | by Staff reporter
The Sentry report on Mutapa Fund is shallow and weak
I had the MISFORTUNE of going through a report prepared and distributed by The Sentry, possibly written by an excitable Nick Donovan. Long story short, the report is shallow and weak. Here is ...Published: 04 Jul 2024 at 16:37hrs | 10 | by MMatigary
Shareholders cream off US$1,6b from Mutapa
Zimbabwe's debt restructuring talks are at risk following revelations that the country's liabilities may have increased due to a secretive US$1.6 billion payment to unknown shareholders under the sove...Published: 04 Jul 2024 at 09:33hrs | 2 | by Staff reporter
EcoCash to invest in banking technologies
EcoCash Holdings Zimbabwe Limited (EcoCash) plans to invest in technologies to expand its banking unit, Steward Bank, after transferring its fintech firms to Econet Wireless Zimbabwe. This move was ap...Published: 02 Jul 2024 at 11:16hrs | 6 | by Staff reporter
Delma Lupepe sucked in nasty mine dispute
Former Amazulu Football Club owner and businessman Delma Lupepe is embroiled in a contentious legal battle over allegations of fraudulently acquiring Duive Enterprises Private Limited, a mining entity...Published: 01 Jul 2024 at 04:04hrs | 18 | by Staff reporter
Australia firm unfazed by Zimbabwe lithium setback
MetalsGrove, an Australia Stock Exchange (ASX)-listed company, has announced its intention to continue pursuing lithium assets in Zimbabwe despite initial exploration setbacks. The company's explorati...Published: 30 Jun 2024 at 18:31hrs | | by Staff reporter
Mnangagwa given five days to reverse decision
Zimbabwe National Students Union (Zinasu) co-leaders Nesbert Munyuki and Valentine Ziko have written to President Emmerson Mnangagwa challenging his appointment of top banker John Mushayavanhu as new ...Published: 07 Apr 2024 at 11:27hrs | 10 | by Staff reporter
Self-styled mafia boss Francesco Marconati panics...threatens to sue media
In the wake of widespread media coverage exposing Francesco Marconati's alleged misdeeds across Zimbabwe, the self-styled Italian Mafia boss has resorted to legal threats in an attempt to suppress the...Published: 06 Mar 2024 at 17:02hrs | 3 | by George Tshuma
Matinyarare's 'Innscor has destroyed the taste of Zim food' comments cause consternation
If Zimbabwe Stock Exchange (ZSE)-listed food giant Innscor was hoping to avoid press scrutiny, it could hardly have chosen a more self-destructive path than seeking a gag order against journalist Rute...Published: 04 Mar 2024 at 21:20hrs | | by Staff reporter
Italian investor Francesco Marconati flouts mining regulations...poses threat to national security
Italian investor Francesco Marconati's contentious actions in Zimbabwe's mining sector have raised serious concerns about regulatory compliance, worker safety, and ethical standards. Despite being ord...Published: 28 Feb 2024 at 13:00hrs | 6 | by George Tshuma
Mliswa has no entitlement to any shares, says his uncle
Former state security minister, Didymus Mutasa has rejected claims by his nephew and business colleague, Temba Mliswa that he (Mliswa) holds 10 percent stake in Muungwe Investments Private Limited as ...Published: 22 Feb 2024 at 15:58hrs | 2 | by Staff reporter
Housing project to go ahead
THE development of Muungwe Royal Estate, an uptown housing scheme in Rusape is proceeding well despite attacks by former Norton legislator Mr Temba Mliswa following a fallout with his uncle and landow...Published: 22 Feb 2024 at 04:49hrs | | by Staff reporter
Zimbabwe fights illegal settlers on state land 'sold' after being repossessed from white farmers
Two decades after a disastrous attempt at land reform, which drove out more than 400 white commercial farmers, the Zimbabwean government is fighting illegal settlers on state land handed out by tradit...Published: 21 Feb 2024 at 07:22hrs | 2 | by Staff reporter
Land war rages as bigwigs clash
A FIGHT for vast tracts of land pitting former Norton legislator, Temba Mliswa, a private developer and former minister Didymus Mutasa has spilled into the public domain with Mliswa accusing his partn...Published: 21 Feb 2024 at 07:20hrs | | by Staff reporter
Zipra ups ante on 100 seized properties
ZIPRA'S Nitram properties committee has handed over its final list of 100 properties seized by the Zanu-PF government during the 1980s Gukurahundi disturbances to its patron Tshinga Dube.Dube ...Published: 15 Feb 2024 at 10:05hrs | 1 | by Staff reporter
7 000 ex-Zipra members, identifies 100 properties
EX-ZIMBABWE People's Revolutionary Army (Zipra) combatants through their Nitram Properties will tomorrow submit a list of beneficiaries of buildings dotted across the country to Vice-President Kembo M...Published: 14 Feb 2024 at 04:39hrs | | by Staff reporter
Foreign investors ditch Zimbabwe capital markets
FOREIGN investors continue to lower their interest on the local capital markets, with investor participation on annual value traded averaging 3%, due to policy inconsistency and inflation, leading res...Published: 30 Jan 2024 at 07:47hrs | 2 | by Staff reporter
Ex-ZPRA cadres identify 100 properties
EX-ZIMBABWE People's Revolutionary Army (Zpra) combatants have identified and listed at least 100 properties that are dotted across the country.This follows the appointment of a board to spear...Published: 25 Dec 2023 at 09:32hrs | 5 | by Staff reporter
Zimbabwe mines need a web presence
Zimbabwe has only just over ten mines and mining companies with an online presence. Mines with a web presence include ZimPlats, Caledonia Mining Corporation, A and F Avalon Gold Mine, Renco Gold Mine,...Published: 24 Dec 2023 at 09:57hrs | 5 | by Jacob Kudzayi Mutisi
Zimbabwe CEOs push back on salaries disclosure
THE chief executives (CEOs) of firms trading their shares on Zimbabwe's two stock exchanges have slapped down proposed regulations that would force them to disclose their earnings in line with interna...Published: 22 Dec 2023 at 18:16hrs | 4 | by Staff reporter
Hwange Colliery pays off US$350m debt
ZIMBABWE'S oldest coal producer, Hwange Colliery has repaid over US$350 million to creditors in fast-paced deals executed by external administrators since slipping into reconstruction over a year ago,...Published: 15 Dec 2023 at 07:52hrs | | by Staff reporter
Mnangagwa tightens his grip on levers of Zimbabwe's Treasury
WITH his close business ally John Muyashavanhu now confirmed as the incoming Reserve Bank of Zimbabwe (RBZ) governor, George Guvamatanga as Finance permanent secretary — chief accounting officer of ...Published: 12 Dec 2023 at 17:58hrs | | by Staff reporter
CBZ in major strategic shake up
Pursuant to the strategic vision of creating one of the country's largest financial services groups, renowned banker, strategist and businessman Mr Luxon Zembe, has been appointed acting chairman of C...Published: 06 Dec 2023 at 05:02hrs | 5 | by Staff reporter
Cyril Ramaphosa won't act on rand-fixing banks
President Cyril Ramaphosa will not act against the banks over rand fixing, according to Unisa Professor Boitumelo Senokoane.Senokoane, who joins the popular narrative that the president's stro...Published: 27 Nov 2023 at 16:35hrs | 4 | by Sifiso Mahlangu
Local boy steps down as PPC Zimbabwe MD, foreigner takes over
Pretoria Portland Cement (PPC) Zimbabwe Limited has officially announced the resignation of its Managing Director, Mr. Kelibone Masiyane. His successor, Mr. Albert Sigei, is set to assume the role sta...Published: 16 Oct 2023 at 20:17hrs | 13 | by Staff reporter
Access Finance legal fight not good for money transfer trust issues
The dispute between shareholders of Access Finance Group regarding the sale of shares has intensified, with one party favoring arbitration while the other prefers a legal process.According to ...Published: 15 Oct 2023 at 21:49hrs | 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
Adam Molai's Pacific Cigarette Company forced into voluntary corporate rescue
Pacific Cigarette Company (PCC), led by local business magnate Adam Molai, has voluntarily initiated corporate rescue proceedings due to a substantial $19 million tax liability. This move comes amid a...Published: 09 Oct 2023 at 16:00hrs | 36 | by Staff reporter
Telling my Access Finance story
FOLLOWING a recent public announcement by Access Finance Group, a local remittance and financial services company, that its chief executive Singathini Raymond Chigogwana is retiring and would be repla...Published: 05 Oct 2023 at 15:07hrs | 4 | by Senziwani Sikhosana
How taxation and royalties work in Zimbabwe's mining industry
The mining industry in Zimbabwe is not only rich in mineral resources but also subject to a nuanced taxation and royalty framework. In this article, we delve into the special rules governing taxation ...Published: 05 Oct 2023 at 11:10hrs | 8 | by Clifford S. Ncube
Legalizing looting shows Zimbabwe is led by dunderheads!
From the time I was a little boy, there was something that always puzzled me.I could never understand how, those who were in top government positions - with all the opportunities availed to th...Published: 02 Oct 2023 at 07:55hrs | | by Tendai Ruben Mbofana
Access Finance shareholders in bitter fall out
Details of a bitter dispute between local financial services firm Access Finance (Pvt) Ltd and its related entities' shareholders have come to light, revealing that the CEO reneged on a deal to sell 1...Published: 25 Sep 2023 at 20:26hrs | 4 | by Staff reporter
PPC consolidates shareholding in Zimbabwe unit
Cement manufacturer PPC has increased its shareholding in its Zimbabwean unit to 90% by repurchasing shares previously held by various indigenisation parties. The shares were repurchased at a price of...Published: 21 Sep 2023 at 06:16hrs | | by Staff reporter
Zimbabwe: A nation at crossroads
Good day, President Emmerson Mnangagwa. Your Excellency, Zimbabwe is dogged by reputational and socio-economic challenges. Consequently, the citizenry is despondent, crying out for commitment to uphol...Published: 20 Sep 2023 at 06:41hrs | | by Cyprian Muketiwa Ndawana
Zimbabwe gets US$300m insurance cover
Zimbabwe has benefited from insurance support totaling over US$300 million from the African Trade & Investment Development Insurance (ATIDI) over six years. ATIDI, headquartered in Nairobi, has ex...Published: 15 Sep 2023 at 06:28hrs | | by Staff reporter
CBZ close to ZB takeover
CBZ Holdings Limited (CBZHL) is on the verge of acquiring a controlling stake in ZB Financial Holdings Limited (ZBFHL) as part of its strategy to become a significant player in the financial services ...Published: 14 Sep 2023 at 06:34hrs | 1 | by Staff reporter
Ex-combatants now listing title deeds for Zipra properties
EX-ZIPRA combatants have said that they are in the process of listing title deeds of identified properties for submission to Zanu-PF vice-president Kembo Mohadi (pictured) soon, as they seek to have t...Published: 03 Sep 2023 at 21:21hrs | | by Staff reporter
Zimbabwe lithium discovery excites UK miner
UNITED KINGDOM-BASED Galileo Resources says the lithium discovery at Kamativi has given it much "encouragement and provided the impetus" to increase drilling.The firm has interests in Zimbabwe's B...Published: 28 Aug 2023 at 06:55hrs | | by Staff reporter
'Vandalism derailing Zimbabwe railways'
NATIONAL Railways of Zimbabwe (NRZ) says it has turned the corner and is making profit, but bemoaned vandalism of its assets.This emerged during an annual general meeting held on Monday in Bul...Published: 10 Aug 2023 at 06:45hrs | 2 | by Staff reporter
'Zimbabwe treasury lost $1,6 trillion to tax exemptions'
TREASURY, always in financial distress, lost about $1,6 trillion last year, up 312% compared to the prior year, through tax expenditures consisting of uncollected tax due to exemptions and incentives ...Published: 27 Jul 2023 at 06:39hrs | | 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
Zanu-PF youth bashed for pasting Mnangagwa poster at Chicken Inn outlet
POLICE in Chegutu have launched an investigation following the assault of a Zanu-PF youth for putting President Emmerson Mnangagwa campaign posters outside a fast food outlet, Chicken lnn.The ...Published: 24 Jul 2023 at 06:52hrs | 1 | by Staff reporter
Zimbabwe sugar estates to be sold to Tanzania's Kagera Sugar
South Africa's Tongaat Hulett is to sell its sugar estates, including those in Zimbabwe, to Kagera Sugar, one of East Africa's largest sugar producers.This is part of a plan to rescue Tongaat ...Published: 21 Jul 2023 at 18:23hrs | | by Staff reporter
Econet upgrades 70% of Bulawayo base station sites
LEADING telecoms company, Econet Wireless Zimbabwe upgraded 70 percent base station sites in Bulawayo in the period ending 31 May as it also plans to upgrade the radio network in Bulawayo and other ci...Published: 19 Jul 2023 at 06:39hrs | | by Staff reporter
Mnangagwa's Zanu-PF 'deploys drones' to spy on Chamisa's CCC
THE ruling Zanu-PF party yesterday "deployed drones" to spy on the opposition Citizens Coalition for Change (CCC) campaign launch in Gweru as the August 23 polls campaign heats up.President Em...Published: 17 Jul 2023 at 07:01hrs | | by Staff reporter
Unifreight eyes cross-border business
LISTED transport and logistics firm Unifreight Africa Limited has revealed plans to diversify and de-risk the business by actively pursuing cross-border and contract haulage.The company, which...Published: 12 Jul 2023 at 08:18hrs | | by Staff reporter
Zimbabwe increases fuel prices
THE Zimbabwe Energy Regulatory Authority ZERA has with effect from today slightly increased the price of both diesel and blend in both local currency and United States dollars.The review is ef...Published: 05 Jul 2023 at 13:11hrs | 3 | by Staff reporter
Innscor splashes US$109m on expansion projects
INNSCOR Africa Limited has spent about US$109 million in expansion projects in the country, including building new stockfeed mills and a state-of-the-art bakery in Bulawayo.Innscor group chief...Published: 18 Jun 2023 at 08:41hrs | 1 | by Staff reporter
ToThe Zimbabwe Security Exchange Commission (SEC)
Zimbabwe has a relatively well-developed digital economy with nine financial institutions listed on the Zimbabwe Stock Exchange (ZSE). With the introduction of the Cyber Security and the Data Protecti...Published: 17 Jun 2023 at 07:29hrs | | by Jacob Kudzayi Mutisi
Trevor Ncube finally admits that Mnangagwa's son-in-law owns shares in AMH
ALPHA Media Holdings (AMH) chairperson Trevor Ncube has admitted that President Emmerson Mnangagwa's son-in-law Gerald Mlotshwa owns a stake in the company, and has said his involvement in the Preside...Published: 13 Jun 2023 at 07:08hrs | 1 | by Staff reporter
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