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Tshabangu's MPs question validity of Mutapa Investment Fund valuation
Opposition parliamentarians have raised concerns over the validity of the Mutapa Investment Fund's (MIF) asset valuation, pointing to discrepancies between the reported US$16 billion valuation and ear...Published: 3 hrs ago | 137 | by Staff reporter
Zanu-PF's Matutu in suspected US$150,000 fraud
Former Zanu-PF youth leader Lewis Matutu appeared before Harare Magistrate Isheanesu Matova on Tuesday, accused of stealing shares from a local mining company, Shusib Investments. Matutu was remanded ...Published: 11 Dec 2024 at 14:10hrs | 1765 | by Staff reporter
Zimbabwe wants 26% free-carry stake in new mining projects
Zimbabwe is planning to hold 26% of new mining projects on a free-carry basis, and will also negotiate with existing operators to acquire a similar stake."We need to move to a level where we r...Published: 11 Dec 2024 at 13:31hrs | 197 | by Staff reporter
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
'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 | 1726 | 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 | 3514 | 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 | 2859 | 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 | 290 | by Staff reporter
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 | 176 | by Agencies
Reason why Masisi lost Botswana elections
Botswana's new president Duma Boko said on Friday he wanted to conclude talks for a new sales pact with global diamonds mining giant De Beers as soon as possible.“The relationship with De Be...Published: 04 Nov 2024 at 07:06hrs | 4960 | 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 | 501 | by Staff reporter
7 big global companies dump South Africa
Many large global companies, including Shell, HSBC, PNB Paribas, Rolex, AngloGold Ashanti, TotalEnergies, and BP's Aviation Fuel Business, are dumping South Africa.Last week, HSBC announced th...Published: 02 Oct 2024 at 12:35hrs | 1197 | 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 | 309 | by Staff reporter
Why does Zimbabwe attract rogue Chinese investors?
Last night, I had the honor of being one of those invited for the launch of a report, in Harare, by the Center for Natural Resource Governance (CNRG) titled, 'Chinese Investments in Zimbabwe'....Published: 27 Sep 2024 at 22:57hrs | 4974 | by Tendai Ruben Mbofana
NRZ has no properties abroad
THE National Railways of Zimbabwe (NRZ) has dismissed social media reports that it owns properties outside Zimbabwe and has lost records of some of them.In a statement, the NRZ said it had oft...Published: 27 Aug 2024 at 07:40hrs | 121 | by Staff reporter
NRZ, Beitbridge Bulawayo Railwayink open access deal
The National Railways of Zimbabwe (NRZ) has signed an open access agreement with its subsidiary, Beitbridge Bulawayo Railway (BBR), to enhance rail capacity and expedite deliveries by allowing private...Published: 22 Jul 2024 at 07:47hrs | 459 | 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 | 14 | 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 | 19 | by Staff reporter
South African GNU and Zimbabwe economy
GNU as portfolio controlThis week, South Africa's President Cyril Ramaphosa was inaugurated for his second and last term in office under the current Constitution.What is now awaited is...Published: 22 Jun 2024 at 11:28hrs | 3 | by @Jamwanda2 on Saturday
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
RBZ boss appointment challenged in court
PRESIDENT Emmerson Mnangagwa's appointment of veteran bank John Mushayavanhu as the new Reserve Bank of Zimbabwe (RBZ) governor has been challenged by two university students, who allege that it contr...Published: 07 Apr 2024 at 10:33hrs | 1 | by Staff reporter
Has Chamisa been bought?
IN early 2008, Simba Makoni, with the covert but obvious backing of the late powerful ex-general, Solomon Mujuru, sprung up to the podium and made the brave announcement to stand against Robert Mugabe...Published: 07 Apr 2024 at 10:28hrs | 4 | by Tawanda Majoni
POSB privatisation put on halt
THE planned partial privatisation of the People's Own Savings Bank (POSB) has been put on halt as the bank awaits further guidance on the project from the shareholder.Partial privatisation was...Published: 04 Apr 2024 at 06:14hrs | | by Staff reporter
Transparency and Accountability vital when appointing the Governor of the Reserve Bank of Zimbabwe
On the 28th March 2024, Zimbabwe witnessed the appointment of John Mushayavanhu as the Governor of the Reserve Bank of Zimbabwe (RBZ). However, this appointment has sparked controversy and raised ques...Published: 31 Mar 2024 at 16:25hrs | 1 | by Jacob Kudzayi Mutisi
Legal woes mount for Italian Mafia Boss Francesco Marconati as CID and Home Affairs are roped in
In the sinister saga unfolding within Zimbabwe's gold mining industry, Francesco Marconati emerges as a dark specter, casting a menacing shadow over the operations of DGL Investments Number Five (Pvt)...Published: 28 Mar 2024 at 13:29hrs | 1 | by George Tshuma
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
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
Mnangagwa must not exempt state entities from scrutiny
GOVERNANCE watchdogs has demanded that President Emmerson Mnangagwa discard his gazetted General Notice 164B of 2024 which exempts 21 key state entities from complying with the Public Procurement and ...Published: 21 Feb 2024 at 20:03hrs | 56 | by Staff reporter
US$15m State House works bill stuns govt
THE government has rejected an invoice for US$15 million submitted by a firm that clinched a deal to construct precast walls at State House, the President's official residence and offices, the Zimbabw...Published: 16 Feb 2024 at 14:57hrs | 482 | by Staff reporter
Fencorp Global praises historical partnership between Somaliland and Ethiopia
The Prime Minister of Ethiopia, His Excellency Abiy Ahmed Ali, and the President of Somaliland, His Excellency Muse Bihi Abdi, have signed a historic memorandum of agreement and partnership. Under the...Published: 05 Jan 2024 at 14:20hrs | 10 | by Nkululeko Nkomo
Mnangagwa pampers cronies with borehole drilling contracts
Zanu-PF legislator and gold dealer Scott Sakupwanya's firm Better Brands is one of the eight firms that was granted lucrative contracts to sink boreholes across the country under President Emmerson Mn...Published: 22 Dec 2023 at 18:23hrs | 12 | by Staff reporter
Mpilo plunged into darkness
MPILO Central Hospital has gone for nearly a week without electricity owing to a fault at a substation that feeds the referral facility and surrounding suburbs.The public hospital has been rel...Published: 22 Dec 2023 at 07:13hrs | 11 | 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 | 1 | by Staff reporter
Mnangagwa ruined Zanu-PF business empire
THE predictable appointment of FBC Holdings chief executive John Mushayavanhu as the incoming Reserve Bank of Zimbabwe (RBZ) governor has completed President Emmerson Mnangagwa's critical post-electio...Published: 12 Dec 2023 at 18:00hrs | 7 | 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 | 2 | by Staff reporter
Zimbabwe central bank fails to pay Equatorial Guinea debt for 40MW solar project
The Reserve Bank of Zimbabwe (RBZ) has reportedly failed to fulfill part of its debt to Equatorial Guinea for a local investment in a 40MW solar project in Bwoni Village, Seke District, according to i...Published: 08 Dec 2023 at 05:39hrs | 12 | 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 | 13 | by Staff reporter
Zimbabwe's billion-dollar petroleum pipeline project on course
PROCUREMENT of equipment that will be used in the construction of Zimbabwe's second petroleum pipeline project valued at over US$1 billion is on course, the deal maker of the lucrative project told th...Published: 03 Dec 2023 at 11:46hrs | 11 | by Staff reporter
RBZ approves FBC acquisition of StanChart
THE Reserve Bank of Zimbabwe (RBZ) has approved FBC Holdings Limited's (FBCHL) purchase of Standard Chartered Bank Zimbabwe Limited (SCBZL), making it one of the biggest banks in the country.A...Published: 15 Nov 2023 at 05:12hrs | 10 | by Staff reporter
Mnangagwa appoints Mutapa Investment Fund board
President Mnangagwa has approved the appointment of a seven member Mutapa Investment Fund board to be chaired by Dr Chipo Mutasa.A recent Statutory Instrument gazetted by President Mnangagwa i...Published: 06 Nov 2023 at 20:54hrs | 12 | 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 | 13 | by Staff reporter
NSSA is a vehicle for enriching the powerful whilst exploiting the poor!
I already knew that Zimbabwe was hell and a living nightmare for the vast majority of the ordinary citizenry.I was also fully aware that the powerful were the only ones getting richer and rich...Published: 15 Oct 2023 at 09:49hrs | | by Tendai Ruben Mbofana
Lawyer takes Mnangagwa to court
HARARE lawyer and businessman Frederick Nyamande has taken President Emmerson Mnangagwa to court following the promulgation of the controversial Mutapa Investment Fund which he argues allows the head ...Published: 09 Oct 2023 at 13:51hrs | 1 | 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 | 12 | by Senziwani Sikhosana
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 | 11 | by Staff reporter
Mnangagwa's Mutapa fiasco raises eyebrows
Observers have raised concerns over President Emmerson Mnangagwa's decision to transfer the shareholding of 20 state-owned companies to the renamed Mutapa Investment Fund (MIF) without parliamentary i...Published: 24 Sep 2023 at 09:09hrs | | 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 | 1 | by Staff reporter
Zimbabwe's digitisation in 'Stone Age'
GOVERNMENT says Zimbabwe's dream to fully digitalise is so many years behind with only 18 transmitters currently digital compliant.Outgoing Information, Publicity and Broadcasting Services dep...Published: 25 Aug 2023 at 07:54hrs | | by Staff reporter
Mnangagwa's govt to offload 49% POSB stake
GOVERNMENT has put a 29% stake in the People's Own Savings Bank (POSB) for sale as the bank's partial privatisation exercise gets underway.The private placement will be followed by an initial ...Published: 21 Aug 2023 at 06:41hrs | 5 | by Staff reporter
Ex-Zinara boss loses houses, cars
FORMER Zimbabwe National Road Administration (Zinara) chief executive Frank Chitukutuku and his wife Nyasha, have lost their two upmarket houses, a fleet of vehicles and shares in two businesses belie...Published: 26 Jul 2023 at 06:37hrs | 15 | by Staff reporter
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