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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 | 398 | 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 | 412 | 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 | 209 | 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 | 302 | 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 | 1407 | 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 | 608 | 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 | 1740 | 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 | 3538 | 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 | 3499 | 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 | 2865 | 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 | 512 | 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 | 6209 | 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 | 2787 | 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 | 1319 | 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 | 2037 | 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 | 396 | 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 | 201 | 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 | 2645 | by Wilbert Mukori
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 | 175 | 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 | 474 | 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 | 330 | by Sgtaff 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 | 614 | 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 | 261 | 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 | 309 | 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 | 634 | by Staff reporter
War veterans company in turmoil
Zvimba East Veterans Investment Company (ZEVIC), a firm established and wholly owned by veterans of the liberation struggle, is embroiled in turmoil following revelations that its bank account has bee...Published: 29 Sep 2024 at 11:30hrs | 435 | by Staff reporter
Ex-ZIPRA combatants to hold meeting on property recovery efforts
Former ZIPRA combatants are set to convene an emergency meeting to assess progress regarding the recovery of properties seized by the government during the Gukurahundi era in the early 1980s. The upco...Published: 26 Sep 2024 at 10:33hrs | 335 | by Staff reporter
Marconati gets two-year jail term in Zimbabwe
Marondera businessman Francesco Marconati has been sentenced to two years in prison after being found guilty of fraudulently removing his business partner from the directorship of Eagle Italian Shoes....Published: 18 Sep 2024 at 18:20hrs | 747 | by Staff reporter
Zulu Lithium operations set for restart
In February this year, Premier announced its intention to raise £2,4 million (about US$3,15 million) to fund the Zulu project, which is situated in Insiza district, Matabeleland South Province....Published: 16 Sep 2024 at 08:43hrs | 413 | by Staff reporter
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 | 862 | 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 | 15 | 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 | 21 | 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 | 10 | 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 | 88 | 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 | 17 | 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 | 4 | 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 | 2 | 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 | 22 | 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 | 14 | 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 | 1 | 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 | 11 | 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 | 12 | by Jacob Kudzayi Mutisi
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