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Zimbabwe police move to raid Tetrad Bank directors
THE Criminal Investigation Department (CID) Asset Forfeiture Unit has obtained a warrant of search and seizure against Tetrad Investment Bank (TIB) management and directors in a case of fraud and mone...Published: 09 Dec 2022 at 17:53hrs | 4 | by Staff reporter
Shareholders fight directors over Tetrad Bank control and assets
TETRAD Investment Bank (TIB) shareholders are locked in a heated row with its directors for the control of the defunct financial institution's US$13 million assets. TIB has properties and othe...Published: 12 Oct 2022 at 18:49hrs | 2 | by Agencies
Foreign investors line up new bank in Zimbabwe
A group of domestic and foreign investors has lodged an application with Zimbabwean authorities to roll out an investment bank, the first such institution since investment banks were toppled under the...Published: 10 Sep 2021 at 07:35hrs | 8 | by Staff reporter
UK trucks importer enters Zimbabwe market
A United Kingdom-based truck importing company, Carsden Group, has expanded into Zimbabwe where it seeks to supply the local industry and farmers with high-quality usedtrucks at competitive prices...Published: 20 Dec 2020 at 07:01hrs | 14 | by Staff reporter
Bank seeks Rushwaya's incarceration over $174k debt
Tetrad Investment Bank, which is under provisional judicial management, has petitioned the High Court seeking the incarceration of Kadoma gold miner, Jameson Rushwaya over a $174 000 debt.Thro...Published: 06 Feb 2019 at 08:34hrs | | by Staff reporter
Tetrad Bank removed from judicial management
Following the placement of Tetrad Investment Bank under provisional judicial management on 29 January 2015 and the subsequent implementation of a scheme of arrangement on 15 November 2017, the Deposit...Published: 07 Dec 2018 at 12:01hrs | 1 | by Ndou Paul
Damaging allegation against BUSE vice chancellor
A FORMER Bindura University of Science Education (BUSE) lecturer has petitioned the High Court seeking an order to direct President Emmerson Mnangagwa to suspend his pending dismissal by the instituti...Published: 31 Oct 2018 at 05:29hrs | | by Staff reporter
Ex-lecturer exposes Bindura Varsity vice-chancellor
Former Bindura University of Science Education lecturer, Professor Macleans Mzumara, who is being sued by the Bindura University of Science Education vice-chancellor, Edias Mwenje, for allegedly damag...Published: 29 Oct 2018 at 12:13hrs | 12 | by Ndou Paul
Ginimbi, Wicknell trial starts
ONE of the complainants in the Genius Kadungure and Wicknell Chivayo's fraud case has been put to task after he failed to substantively pin the two to the commission of the offence.Kadungure a...Published: 10 Oct 2018 at 16:51hrs | | by Staff reporter
Business couple jailed over bank debt
HARARE businessperson Jameson Rushwaya and his wife Annie were yesterday slapped with an order for civil imprisonment after failing to settle a $174 000 loan with the now-defunct Tetrad Investment Ban...Published: 26 Jul 2018 at 07:33hrs | | by Staff reporter
BCC recovers only $32 000 of the $1 million from Metbank
THE Bulawayo City Council (BCC) has recovered from the Metbank $32 512 of the $1 million it lost after the financial institutions went under a few years ago.The local authority's finance depar...Published: 10 Jul 2018 at 07:26hrs | 7 | by Staff reporter
Lawsuits for failed banks executives
THE Deposit Protection Corporation (DPC) has sued directors of four failed banks for lack of corporate governance and abuse of depositors' funds.Last year, the deposit protection entity said t...Published: 25 Jun 2018 at 07:27hrs | | by Staff rpeorter
Kazembe Kazembe grabs school farm
Youths, Sports, Arts and Recreation minister Kazembe Kazembe has taken control of a 1 350-hectare farm belonging to Blackfordby College of Agriculture, situated approximately 60 kilometres north west ...Published: 25 Apr 2018 at 07:33hrs | | by Staff reporter
Bindura University should not become the citadel of Ccorruption
As part of the current corruption busting campaigns and in light of the efforts being embarked on by the new government, I feel obliged to play a part in aiding the government's cause, albeit, in a ve...Published: 16 Dec 2017 at 05:49hrs | | by Kudakwashe Ncube
Failed banks haunt directors
THE Deposit Protection Corporation says there are sufficient legal instruments to facilitate successful prosecution of directors of failed banks for their roles in causing collapse of the institutions...Published: 19 Nov 2017 at 08:37hrs | | by Staff reporter
Nando's bounces back from building collapse
BULAWAYO fast food outlet, Nando's, which abruptly closed shop in February this year after its veranda roof collapsed on customers and passersby – killing one – re-opened yesterday.Before ...Published: 20 Sep 2017 at 06:42hrs | | by Staff reporter
Zanu-PF bigwigs bleed banks dry
Politicians, particularly the elite in Zanu-PF, are proving to be a thorn in the flesh for the financial services sector, with hardly a month passing without the Deputy Sheriff being called in to put ...Published: 19 Jun 2017 at 13:58hrs | | by Staff reporter
Zanu-PF bigwigs, army 'caught in farm invasion'
Zimbabwe's military and several Zanu-PF heavyweights have reportedly "invaded" parts of a farm where one of the leading agricultural training institutes in southern Africa, Blackfordby College of Agri...Published: 13 Jun 2017 at 15:43hrs | | by Staff reporter
Military, Zanu-PF bigwigs invade college farm
THE military and several Zanu-PF bigwigs have invaded one of the best agricultural training institutes in Southern Africa, Blackfordby College of Agriculture, amid concerns that equipment worth thousa...Published: 09 Jun 2017 at 13:35hrs | | by Staff reporter
Unpacking the nefarious/ corrupt activities at Bindura University
Thank you for publishing that letter that exposed the corrupt activities at Bindura University of Science Education. Please find, below, parts of what is found in the Forensic Report that I believe th...Published: 25 May 2017 at 21:19hrs | 1 | by Kudakwashe Ncube
DPC increases cover limit
The Deposit Protection Corporation has increased its cover limit by 100 percent from $500 to $1 000 per depositor per member bank. According to the company the new limit is effective from June...Published: 19 Jul 2016 at 08:03hrs | | by Staff reporter
Mphoko lashes out at failed bank executives
VICE President Phelekezela Mphoko yesterday blasted banking executives for abusing depositors' money in the wake of a litany of bank failures caused by reckless lending and abuse of depositors' funds....Published: 27 May 2016 at 06:33hrs | | by Oliver Kazunga
Lawsuit opens can of worms on Airport Road
A foreign company with a controlling stake in Augur Investments has approached the High Court seeking an order to protect the interests of shareholders in the firm which is accused of disposing its im...Published: 24 Feb 2016 at 05:25hrs | | by Fidelis Munyoro
RBZ moves in to tame a cash shortage in Zimbabwe
THE Reserve Bank of Zimbabwe (RBZ) has moved in to tame a cash shortage that saw some banks running out of money since Friday last week.A snap survey in Bulawayo showed that banks such as the ...Published: 02 Dec 2015 at 05:31hrs | | by Oliver Kazunga
Cross hails Sunday Mail for exposing corruption in the police force
MDC-T Bulawayo South MP Eddie Cross has hailed the Sunday Mail for exposing corruption in the circles of power in the police force a development which saw two journalists being arrested.Speaki...Published: 21 Nov 2015 at 07:44hrs | | by Stephen Jakes
Zimra chief in bank tax scandal
It has emerged that Zimra commissioner-general Gershem Pasi is also a shareholder of Tetrad Holdings, the holding company of Tetrad Investment Bank which has tax arrears of over $1.6million. ...Published: 28 Aug 2015 at 07:11hrs | | by Staff reporter
Rushwaya faces arrest
A Kadoma-based business couple faces arrest and civil imprisonment for a US$150 000 debt which they have failed to pay back to a local bank Tetrad Investment.The bank approached the High C...Published: 20 Aug 2015 at 19:26hrs | | by Staff reporter
Judicial managers in the dock
The essence and justification of judicial management as a process to rehabilitate ailing companies is increasingly becoming controversy following the bill that Tetrad Investment bank received from...Published: 17 Aug 2015 at 08:28hrs | | by Staff reporter
Tetrad Bank up for sale
Troubled Tetrad Investment Bank (TIB) is up for sale and interested parties have up to August 21 to submit their bids, transaction advisers BDO Zimbabwe Chartered Accountants said yesterday. ...Published: 14 Aug 2015 at 07:26hrs | | by Staff reporter
Borrowers lose property as loans bite
A number of companies and individuals are losing their properties which are being auctioned at almost 20 percent of the market value as banks and local authorities have stepped up efforts to recover m...Published: 12 Jul 2015 at 09:26hrs | | by Ngonidzashe Chiutsi
Econet and Steward Bank: Corporate bullying with a huge stink
I HATE bullies, be they human or corporate. Their intention is to instill the fear of God, mainly to avoid scrutiny. I had this feeling about Econet Wireless and Steward Bank in the past few weeks aft...Published: 15 Apr 2015 at 08:23hrs | | by Eliphas Taonezvi
Delma Lupepe accuses banking sector over industry collapse
PROMINENT Bulawayo businessman Delma Lupepe has accused the banking sector of contributing to the closure of companies through "punitive" lending rates that make it difficult for firms to pay back the...Published: 02 Apr 2015 at 10:10hrs | 1 | by Oliver Kazunga
Big wigs suck Zimbabwe banks dry
The majority of banks that folded over the past five months choked on souring loans extended to top executives and serial debtors, The Sunday Mail reported.AfrAsia is the latest victim of toxi...Published: 22 Mar 2015 at 07:09hrs | 1 | by Staff Reporter
Chanakira mourns AfrAsia collapse
KINGDOM Bank founder Nigel Chanakira says the collapse of AfrAsia Bank - an institution he moulded to iconic status - is a sad development in the history of the financial service institutions in Zimba...Published: 27 Feb 2015 at 10:35hrs | | by Charity Ruzvidzo
Mugabe destined to leave Zimbabwe without currency
PRESIDENT Robert Mugabe (91 next week) appears destined to leave the country whenever he would go without its own local currency amid clear indications by the Reserve Bank of Zimbabwe (RBZ) governor ...Published: 13 Feb 2015 at 14:47hrs | 1 | by Kudzai Kuwaza
Zimdollars accounts to be compensated
THE Reserve Bank of Zimbabwe is coming up with a formula to calculate how Government can compensate individuals with Zimbabwe dollars locked in accounts after the country adopted the use of multi-curr...Published: 08 Feb 2015 at 11:19hrs | | by Gabriel Masvora and Ngonidzashe Chiutsi
Another bank faces collapse
TETRAD Investment Bank has been placed under judicial management after the financial institution fell short of funds to run its daily operations.The bank is part of Tetrad Holdings group compr...Published: 03 Feb 2015 at 06:56hrs | 1 | by Staff reporter
'Bank closures normal,' says RBZ boss
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says the numerous bank closures seen in recent years are normal in tough economic environments and insisted that the country's banking sector rem...Published: 27 Jan 2015 at 11:47hrs | | by Staff reporter
Obert Mpofu's bank property attached over $1.5 million debt
Allied Bank's fortunes have taken a turn for the worse with property from 5 Harare branches being attached by the deputy sheriff's office over a US$1.5 million debt.The closure of Allied Bank,...Published: 09 Jan 2015 at 20:01hrs | | by Staff reporter
Mugabe's economic promises hollow
ALMOST 18 months after Zanu-PF won general elections tainted by rigging allegations, a steep economic decline characterised by, among others, the debilitating liquidity crunch, declining capacity util...Published: 09 Jan 2015 at 12:25hrs | 1 | by Kudzai Kuwaza
'Zimdollar return suicidal,' says RBZ boss
Government should not reintroduce the Zimbabwe dollar as this amounts to economic suicide, central bank boss John Mangudya warned.In his maiden mid-term monetary policy statement presentation ...Published: 29 Aug 2014 at 12:12hrs | | by Taurai Mangudhla
23 families to lose houses, residential stands
AT least 23 Bulawayo families will have their houses and residential stands auctioned today for failure to pay debts owed to council and different financial institutions. An auction company wi...Published: 27 Jun 2014 at 07:36hrs | | by Staff Reporter
Russians take over Zimbabwean Bank
A Russian investment group Horizon Capital Consortium led by businessman Sergey Pokusaev has acquired a controlling stake in the diversified financial company, Tetrad Holdings Ltd which owns Tetra...Published: 16 May 2014 at 07:44hrs | | by Staff reporter
'Zimdollar return not a realistic option'
The reintroduction of the Zimbabwe dollar is not a realistic option available to this country in the short to medium term given the compelling need to increase liquidity in the economy, the Bankers A...Published: 08 May 2014 at 05:43hrs | | by Golden Sibanda
Nssa squandered over US$100 million pensioners' money
The National Social Security Authority (Nssa) has squandered over US$100 million of pensioners' money in bad investments after buying shares in broke companies as well as purchasing properties at infl...Published: 23 Feb 2014 at 07:08hrs | | by Staff Reporter
Mawocha becomes AfrAsia Bank MD
Afrasia Bank Zimbabwe Limited has appointed former Tetrad Bank managing director Mr Tineyi Mawocha as the managing director for its rebranded flagship banking unit with effect from 6 January 2014. ...Published: 09 Jan 2014 at 10:04hrs | | by Staff Reporter
Central bank places 7 troubled banks under surveillance
Amid insolvency concerns, Zimbabwe's central bank has placed seven troubled banks under surveillance.The revelation comes a few weeks after former Finance minister Tendai Biti said a liqui...Published: 06 Jan 2014 at 06:09hrs | | by Staff Reporter
THI Insurance selects Agilis Core General Insurance software
Agile Financial Technologies, a leading software provider for insurance, banking and financial services sectors, announced that it has won the contract to deploy Agilis Core General Insurance softwar...Published: 27 Sep 2013 at 09:15hrs | | by Own correspondent
Belgian group 'zooms in' on Zimbabwe
Belgian-based financial consultancy and investment firm deVere Group (deVere) plans to strengthen its foothold in Zimbabwe after cutting ties with Tetrad Investment Bank. Last week, the group...Published: 23 Jul 2013 at 05:11hrs | | by Business reporter
Prophet Makandiwa drags bank to court
United Family International Church Ministries has taken Trust Bank to court claiming US$216 000 the church deposited into its account with the bank since last year. The church claims it depos...Published: 02 Jul 2013 at 04:23hrs | | by Daniel Nemukuyu
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