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Econet celebrates 20 years of ZSE listing
Econet Wireless Zimbabwe yesterday reached a major milestone after completing 20 years since its shares were listed and first publicly traded on the Zimbabwe Stock Exchange (ZSE); a month after Zimbab...Published: 18 Sep 2018 at 06:17hrs | 54 | by Staff reporter
Chitungwiza scammed of $120 000
CHITUNGWIZA Municipality was last year fleeced of almost $120 000 after a suspected fraudster took advantage of a deal left hanging to approach the High Court and force payment.Dalington Chira...Published: 15 Sep 2018 at 09:23hrs | 815 | by Staff reporter
Mthuli Ncube embarks on stakeholder listening & consulting roadshow
Minister of Finance and Economic Development Professor Mthuli Ncube embarks on stakeholder listening and consulting roadshow, starting with private meeting with fifty captains of industry.&nbs...Published: 12 Sep 2018 at 12:46hrs | 8114 | by Agencies
Muchechetere in court for criminal abuse of duty
Sport and Recreation Committee (SRC) acting director-general Joseph Muchechetere yesterday appeared in court facing charges of misusing more than $2 million he received from sponsors.Muchechet...Published: 06 Sep 2018 at 07:01hrs | 877 | by Staff reporter
Stanbic calls for economic reforms
STANBIC Bank (Stanbic) has called for currency reforms and measures to support industrial growth, foreign currency generation and price stability in order to put an end to "turbulence in the operating...Published: 03 Sep 2018 at 06:32hrs | 813 | by Staff reporter
No need to queue at banks
DEPOSITORS no longer need to spend hours queuing at banking halls as they have an option of conducting their transactions digitally using online technology platforms, Stanbic Bank Zimbabwe chair, Mr G...Published: 24 Aug 2018 at 05:46hrs | 988 | by Staff reporter
Knives out for POSB bosses
A major labour grouping in the financial services sector, has lined up a series of demonstrations against POSB's board and management over an array of allegations, chief among them incompetence. ...Published: 23 Aug 2018 at 06:23hrs | 779 | by Staff reporter
Top banker's son shot dead in robbery
Police have launched a manhunt for armed robbers who broke into the home of Stanbic bank chief executive Joshua Tapambgwa and killed his son, David, during a robbery.National police spokespers...Published: 27 Jul 2018 at 07:34hrs | 2485 | by Staff reporter
5 arrested in $4 million, 98kg gold haul
POLICE raided a Harare house following a tip-off on Thursday and recovered US$4 million in cash and 98 kilogrammes of gold stashed in suitcases. National police spokesman Chief Superintendent ...Published: 07 Jul 2018 at 08:58hrs | 1245 | by Staff reporter
Doctor loses $400 000 to wife of 2 months
A HARARE medical doctor, Alexander Tarasana Guni lost more than $400 000 cash and goods to a woman whom he purportedly married for only two months.Christina Hamiton (26) is expected to appear ...Published: 05 Jul 2018 at 07:21hrs | 3023 | by Staff reporter
$300m power project for Vic Falls
A VICTORIA Falls consultancy firm says it has raised $300 million to set up a solar and hydro-energy plant along the Zambezi River.The plant, according to projections, is expected to produce 1...Published: 09 Jun 2018 at 15:53hrs | 222 | by Staff reporter
Acie Lumumba acquitted of theft charges
VIVA Zimbabwe leader, William Gerald Lumumba Mutumanje, yesterday walked out of the Harare Magistrates Court a free man following his acquittal on the $8 000 theft charge levelled against him....Published: 17 May 2018 at 07:10hrs | 237 | by Staff Reporter
Stanbic ventures into export markets
HARARE - Stanbic Bank Zimbabwe (Stanbic) has unveiled an export facility aimed at enhancing production for local companies to export and generate foreign currency for the country.This comes as...Published: 01 May 2018 at 18:07hrs | 993 | by Staff Reporter
Telcos, banks profit from cash shortages
When Kenya initiated the mobile money revolution through M-Pesa a decade ago, few gave it a chance of success.But then it did succeed, and phenomenally so.Spurred on by that success, S...Published: 16 Apr 2018 at 08:32hrs | 1071 | by Staff reporter
Drama at court as state refuses to withdraw Lumumba's fraud case
THERE was drama at the Harare Magistrates Court yesterday when the State refused to withdraw fraud allegations levelled against Viva Zimbabwe leader, William Gerald Mutumanje, after the complainant of...Published: 12 Apr 2018 at 07:08hrs | 1796 | by Staff Reporter
Stanbic Bank deposits clock $1.2 billion
STANBIC Bank Zimbabwe has exceeded $1 billion deposits in the financial year ended December 31, 2017.The bank's customers are, however, struggling to settle foreign payments as a result of for...Published: 03 Apr 2018 at 06:49hrs | 386 | by Staff reporter
Stanbic Bank deposits hit $1.2 billion
STANBIC Bank Zimbabwe has exceeded $1 billion deposits in the financial year ended December 31, 2017.The bank's customers are, however, struggling to settle foreign payments as a result of for...Published: 03 Apr 2018 at 06:32hrs | 715 | by Staff Reporter
Prophet Magaya's house, property attached
Prophet Walter Magaya of PHD Ministries in Harare Zimbabwe's house and property has been attached by the High Court for owing $209 794.89.A Zimbabwean online news portal reported that its sour...Published: 28 Mar 2018 at 09:04hrs | 6486 | by Staff rpeorter
Chinese firms seek clearance on externalisation
Chinese nationals, retail and mining companies accused of being part to the externalisation of more than $1,3 billion have approached the Reserve Bank of Zimbabwe to be cleared citing a number of irre...Published: 28 Mar 2018 at 07:09hrs | 135 | by Staff reporter
Lumumba 'steals' $8,000 at Mugabe Airport
CONTROVERSIAL political activist Acie Lumumba, real name Lumumba William Mutumanje, appeared in court on allegations of stealing $8,000 at Robert Gabriel Mugabe International Airport last month...Published: 14 Mar 2018 at 04:29hrs | 5873 | by Staff reporter
Going Digital- Removing the hassle out of school fees payments in Zimbabwe
Cash is a crisis in Zimbabwe. Depending on where you stand on the digital financial inclusion discussion, this could be a great opportunity or a great inconvenience. One thing that canno...Published: 07 Mar 2018 at 07:18hrs | 451 | by Agencies
Econet declares $50m dividend
TELECOMMUNICATIONS operator, Econet Wireless, has announced a dividend of $50 million for the nine months ended November 30, 2017."The company has declared a dividend of 0.93 cents per share f...Published: 05 Mar 2018 at 05:34hrs | 426 | by Staff reporter
Makandiwa case takes new twist
UNITED Family International Church (UFIC) leader Prophet Emmanuel Makandiwa, who was recently slapped with a $6,5 million suit by former congregants, has finally broken his silence, exposing the rot s...Published: 10 Feb 2018 at 09:47hrs | 2293 | by Staff reporter
Blackout hit Zimbabwe banks hard
THE banking sector lost an estimated $70 million after many internet-dependent transactions could not be processed because of the recent data blackout which lasted six hours.On December 5, Zim...Published: 17 Dec 2017 at 07:23hrs | 1815 | by Staff reporter
Innscor, Cabs win top Excellence in Corporate Governance Awards
Innscor Africa was the overall listed companies winner of the Excellence in Corporate Governance Awards, while CABS was the overall banking sector winner. The Deposit Protection Corporation was the wi...Published: 30 Nov 2017 at 09:41hrs | 1506 | by Agencies
'Zimdollar' takes over as US$ disappears
Real time gross settlement (RTGS) balances, bond notes and treasury bills (TBs) are part of the "local dollars" as they are used solely for local transactions, unlike the greenback, a financial expert...Published: 12 Nov 2017 at 07:54hrs | 2846 | by Staff reporter
Zimbabwe landlords shun albino tenants
Landlords across the country's suburbs are avoiding albino tenants, perpetuating the intense stereotypes that the minority group continues to suffer, the Albino Charity Organisation of Zimbabwe (ALCOZ...Published: 28 Oct 2017 at 06:52hrs | 368 | by Staff Reporter
Cash levels decline in Zimbabwe bank vaults
SMALL money bags have become the new way of carrying cash in Zimbabwe as most banks only have coins to disburse to depositors.So depressed has the cash situation become that 21st century Zimba...Published: 22 Oct 2017 at 14:47hrs | 13467 | by Staff reporter
Zimbabweans stash forex as economy sinks
IN recent weeks some financial institutions have announced they are further reducing limits for foreign card payments such as MasterCard, Visa Card and debit card settlements with some suspending the ...Published: 20 Oct 2017 at 07:22hrs | 6293 | by Staff reporter
Mutsvangwa testifies in US tax fraud case
War veterans leader, Chris Mutsvangwa, testified over the phone in a United States tax fraud case - which had sucked in Zimbabwean senior government officials - resulting in the conviction of former C...Published: 01 Oct 2017 at 11:57hrs | 1215 | by Staff reporter
Central Bank probes banks
The Minister of Finance and Economic Development Patrick Chinamasa has defended the use of bond notes and added that the Reserve Bank of Zimbabwe (RBZ) is investigating all banks as Government seeks t...Published: 30 Sep 2017 at 06:55hrs | 472 | by Staff reporter
Stanbic warns of debit card fraudsters
STANBIC Bank has warned members of the public to guard against falling victim to debit card fraudsters.Acting head of personal and business Banking, Mr Patson Mahatchi said his bank has assume...Published: 29 Sep 2017 at 06:50hrs | 1143 | by Staff reporter
Businessman arrested for 'externalising' over $500,000
Police have arrested a Bulawayo businessman for allegedly externalising more than $500 000 in breach of the country's foreign exchange rules.Edward Nyevera, a director of Lysavay Enterprise Pr...Published: 04 Sep 2017 at 07:11hrs | 2412 | by Staff reporter
Zimbabwe engages Interpol over ‘externalising' fugitives
The Zimbabwe Republic Police has activated Interpol in its quest to locate three businesspeople who are wanted on allegations of externalising over $7,3 million to Botswana this year.The inves...Published: 04 Sep 2017 at 07:08hrs | 2416 | by Staff reporter
Bank sues minister over $36,000 debt
Sport and Recreation minister Makhosini Hlongwane has been taken to the High Court by a local financial institution over a $36 801 vehicle and asset finance facility debt.Stanbic Bank filed th...Published: 01 Sep 2017 at 06:39hrs | 292 | by Staff reporter
Police hunt three businesspeople for externalisation
Police have launched a massive manhunt for three businesspeople on allegations of externalising over $7,3 million to Botswana this year.The investigation is part of stern efforts to deal with ...Published: 19 Aug 2017 at 12:50hrs | 1862 | by Staff Reporter
Manhunt for cash smugglers
Police have launched a massive manhunt for three Bulawayo businesspeople on allegations of externalising more than $7,3 million to Botswana this year.The probe is part of stern efforts to deal...Published: 17 Aug 2017 at 06:48hrs | 1384 | by Staff reporter
Mukupe house go under the hammer
BUSINESSMAN Patterson Timba and Harare East MP, Terrence Mukupe's affluent properties in the northern suburbs are set to go under the hammer for failure to settle unspecified debts with financial inst...Published: 19 Jul 2017 at 06:39hrs | 912 | by Staff reporter
'Cash for prayers' pastor up for fraud
A Latter Glory Ministries International pastor has appeared in court for allegedly defrauding a Chitungwiza couple of $1 000 after he demanded payment to pray for them.Gibson Nyambayo appeared...Published: 14 Jul 2017 at 07:01hrs | 232 | by Staff reporter
Stanbic Bank wants cash to be confiscated from Osiphatheleni
Private sector workers who are getting paid through the Stanbic Bank have accused the bank of discriminating its clients by offering preferential services to civil servants who are allowed to withdrew...Published: 30 Jun 2017 at 19:55hrs | 2361 | by Stephen Jakes
Cuthbert Dube's home seized over debt
African Banking Corporation is foreclosing former Premier Service Medical Aid Society (Psmas) chief executive officer Cuthbert Dube's four-bed roomed home, seized after failing to settle bad deb...Published: 23 Jun 2017 at 12:39hrs | 1382 | by Staff reporter
'Standard Chartered Bank won't exit Zimbabwe'
The country's oldest banking institution, Standard Chartered Bank Zimbabwe has said it is here to stay and will not exit the market anytime soon.StanChart CEO Ralph Watungwa told guests at the...Published: 18 Jun 2017 at 10:21hrs | 874 | by Staff reporter
Foreign banks tighten screws on Zimbabwe
FOREIGN banks are demanding fully funded letters of credit (LoCs) from domestic banks meant to facilitate vital imports by customers due to a worsening foreign currency crisis in the country that thre...Published: 15 Jun 2017 at 11:25hrs | 2012 | by Staff reporter
Businessman in court for stealing company
A 29-YEAR-OLD Harare businessman is alleged to have fraudulently acquired company documents, thereby changing ownership of a local firm, Norwich Trading Company (Pvt) Ltd, and registering it together ...Published: 31 May 2017 at 06:54hrs | 467 | by Staff reporter
'Bona critics can go to hell,' says Zhuwao
Home Affairs minister Ignatius Chombo and his Youth, Indigenisation and Economic Empowerment counterpart Patrick Zhuwao last week took turns to hand President Robert Mugabe's daughter Bona (pictured b...Published: 28 May 2017 at 09:33hrs | 547 | by Obey Munyati
Kangai loses succession battle
FORMER NetOne chief executive Reward Kangai this week suffered a major setback after the High Court ruled that his application to stop the recruitment of his successor following his unceremonious depa...Published: 27 May 2017 at 09:03hrs | 227 | by Staff reporter
Zanu-PF youths demand $5 billion ahead of elections
ZANU-PF youths have asked President Robert Mugabe's broke government to allocate them at least $5 billion for various economic empowerment projects ahead of next year's general elections, describing t...Published: 24 May 2017 at 06:59hrs | 751 | by Staff reporter
Zanu-PF officials loot $40 million youth fund dry
The Youth Development Fund has proved to be a monumental failure due to looting and fraud which came in the form of bogus projects. In the end, the economy is the biggest loser as the $40 million that...Published: 21 May 2017 at 16:19hrs | 216 | by Veneranda Langa
Zanu-PF youths will not repay development fund loan
THE Parliamentary Portfolio Committee on Youths has heard that beneficiaries of the Youth Development Fund in Masvingo have only repaid $44 707 of the $230 310 loan received in 2012 for various start-...Published: 16 May 2017 at 06:38hrs | 280 | by Staff reporter
Ministers fingered in youth fund saga
Millions of dollars under the Youth Development Fund have gone down the drain, looted by youths from mostly Zanu-PF and MDC-T who fooled the banks with phantom project proposals to get money from the ...Published: 14 May 2017 at 15:45hrs | 231 | by Staff reporter
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