Search / Liquidation
Prophet Magaya faces estate liquidation
Prominent cleric and founder of Prophetic Healing and Deliverance (PHD) Ministries, Walter Magaya, is facing the possible liquidation of his estate after allegedly failing to settle a US$420,140...Published: 19 Jun 2025 at 07:04hrs | 340 | by Staff reporter
Zimbabwe liquidates four failed banks
Four banks that collapsed between 2004 and 2008 have been officially liquidated, marking a significant milestone in Zimbabwe's financial sector. Hopewell Zinyau, Chief Executive Officer of the Deposit...Published: 16 Jun 2025 at 15:08hrs | 16659 | by Staff reporter
The reality of '9 wasted years' - A decade WMC failed to capture Zuma
For too long, South Africans have been bombarded with a dishonest narrative coined by the very architects of our economic servitude, that the period of President Jacob Zuma's administration represents...Published: 13 Apr 2025 at 14:33hrs | 755 | by Mzwanele Manyi
US$4.5 million mysteriously disappeared from Harare City Council
More than US$4.5 million has inexplicably vanished from the Harare City Council (HCC) through its subsidiary, Harare Quarry, sparking an investigation into rampant corruption within the local authorit...Published: 06 Feb 2025 at 16:04hrs | 370 | by Staff reporter
How to access regulated platforms and manage desktop-based trading safely
Online trading has developed into a widely used financial activity supported by various technologies. Traders now rely on structured platforms and tools to carry out transactions securely and effe...Published: 30 Jan 2025 at 21:17hrs | 17 | 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 | 306 | by Engineer Jacob Kudzayi Mutisi
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 | 618 | by Eng. Jacob Kudzayi Mutisi
Mnangagwa's adviser says ZiG is 'doomed', warns RBZ Governor
Local economist and adviser to President Emmerson Mnangagwa, Eddie Cross, has issued a stark warning to Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu, cautioning that the country's new Zim...Published: 15 Oct 2024 at 18:10hrs | 5667 | by Staff reporter
Late businesswoman's family pushed for top lawyer's arrest
The family of the late businesswoman Jane Maisiri is calling for the arrest of prominent lawyer Wilson Manase, accusing him of mismanaging her estate since her death in 2002. Manase, appointed as the ...Published: 08 Sep 2024 at 15:16hrs | 1931 | by Staff reporter
RBZ makes U-turn
The Reserve Bank of Zimbabwe (RBZ) has announced that holders of non-negotiable certificates of deposit (NNCDs) will now receive tradable government bonds. This decision comes in response to pressure ...Published: 03 Sep 2024 at 15:45hrs | 27552 | by Staff reporter
Cyril Ramaphosa's 'plot' to kill the ANC
SOME senior ANC leaders have accused President Cyril Ramaphosa of working with external parties to collapse the governing party and replace it with a centre-right coalition led by him after the 2024 g...Published: 17 Jul 2024 at 09:09hrs | 1732 | by Staff reporter
Zimbabwe's structured currency launch on Friday
IN a bid to address currency volatility and exchange rate-driven inflation badly battering the economy amid arbitrage, the Zimbabwean government will next week launch a "structured currency" which the...Published: 31 Mar 2024 at 20:50hrs | 2 | by Staff reporter
Lithium mining company fined for smuggling
BULAWAYO High Court judge Christopher Dube-Banda has fined local lithium mining company Silver Bern International (Private) Limited US$10 000 following its conviction for smuggling 96 000 metric tonne...Published: 10 Mar 2024 at 06:51hrs | 8 | by Staff reporter
Ex-RBZ advisor arrested for fraud
FORMER Reserve Bank of Zimbabwe advisor Munyaradzi Kereke has been arrested for fraud.The former Zanu PF Bikita West legislator is jointly charged with suspended Harare Municipal Medical Aid S...Published: 09 Nov 2023 at 21:13hrs | 11 | by Staff reporter
South Africa Parliament imposes sanctions on Floyd Shivambu
South Africa’s Parliamentary Joint Committee on Ethics and Members' Interests has ruled that EFF’s Deputy President for failing to disclose that he had received R 180 000 from the now defunct Vend...Published: 02 Oct 2023 at 14:08hrs | 4 | by Mandla Ndlovu
Mutapa looting machine
PRESIDENT Emmerson Mnangagwa is full of surprises.He wants to be seen to be doing something and, in many instances, creates new offices that in reality are as clear as mud.Mutapa Inves...Published: 23 Sep 2023 at 21:34hrs | 1 | by Paidamoyo Muzulu
Zimbabwe central bank resorts to market determined exchange rate
THE Reserve Bank of Zimbabwe has announced a range of measures to stabilise the exchange rate which include using a market-determined rate to trade foreign currency.The RBZ will from this Wedn...Published: 06 Jun 2023 at 20:05hrs | 7 | by Staff reporter
Mthuli Ncube announces further measures to contain runaway inflation
FINANCE Minister Mthuli Ncube has announced a new series of measures to stabilise the economy amid hyperinflation fears.This comes barely two weeks after the Treasury boss scrapped duty on all...Published: 30 May 2023 at 06:53hrs | 4 | by Staff reporter
Telecel denies corporate rescue proceedings
EMBATTLED telco, Telecel Zimbabwe (Pvt) Ltd (Telecel) has dismissed its placement under "corporate rescue proceedings" first announced in a notice in the Government Gazette dated May 12, 2023....Published: 24 May 2023 at 06:02hrs | 2 | by Staff reporter
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 | 5 | by Staff reporter
Telecel set for corporate rescue
Telecel Zimbabwe, the smallest of the three mobile phone operators in the country, is set to be placed under corporate rescue, a form of bankruptcy protection, due to serious financial distress....Published: 11 Oct 2022 at 06:03hrs | | by Staff reporter
Mnangagwa's son-in-law captures Trevor Ncube's media group
PRESIDENT Emmerson Mnangagwa's son in-law Gerald Mlotshwa - a prominent lawyer married to the ruling Zanu-PF leader's daughter Farai - has now formally bought a significant equity stake at the private...Published: 02 Oct 2022 at 09:19hrs | 6 | by Staff reporter
ZB directors mull liquidation and surrendering licence
With three months left before year-end, it is now crunch time for ZB Financial Holdings (ZBFH), which is currently under increased pressure to recapitalise its building society within the grace period...Published: 02 Oct 2022 at 08:58hrs | 14 | by Staff reporter
Zimbabwe tycoon set to get US$139 million refund from Bank of Zambia
THE HIGH Court of Zambia has ordered the country's central bank to pay back US$139, 191, 386 seized in 1998 to Zimbabwean business tycoon, Jayesh Shah, and his company Al Shams Building Materials Limi...Published: 30 Sep 2022 at 06:23hrs | 1 | by Staff reporter
Huge appetite for Zimbabwe gold coins
ZIMBABWE'S central bank has registered an overwhelming uptake of the Mosi-oa-Tunya gold coin after local financial institutions, pension funds, insurance companies and individuals bought the bulk of t...Published: 31 Jul 2022 at 17:51hrs | 1 | by Staff reporter
Zimbabwe gold coins start circulating
THE Reserve Bank of Zimbabwe (RBZ) yesterday released the first batch of 2 000 Mosi-oa-Tunya gold coins into the market to provide a store of value alternative to the US dollar in a development expect...Published: 26 Jul 2022 at 06:36hrs | 1 | by Staff reporter
Ramaphosa's 'plot' to kill the ANC
SOME senior ANC leaders have accused President Cyril Ramaphosa of working with external parties to collapse the governing party and replace it with a centre-right coalition led by him after the 2024 g...Published: 30 Jun 2022 at 19:46hrs | 14 | by Staff reporter
Zimdollar tanks to $308,5 against USD at forex auction
THE Zimbabwean dollar further weakened against the United States dollar at the weekly forex auction system on Tuesday where it traded at $308,5 to the green back.Last week the local curr...Published: 02 Jun 2022 at 06:43hrs | 7 | by Staff reporter
Honeymoon over for Zambian leader
Almost six months after the high expectations created by his historic landslide victory over Edgar Lungu and his promises of fundamental reform, Zambian President Hakainde Hichilema's halo has begun s...Published: 18 Feb 2022 at 05:30hrs | 1 | by Staff reporter
Telecel's monumental collapse
TELECEL Zimbabwe's troubles have continued to mount with indications that the telecoms firm is now recruiting graduate trainees to plug the staff exodus necessitated by the company's unsustainable deb...Published: 04 Feb 2022 at 21:30hrs | 1 | by Staff reporter
'Banks cash in on civil servants bonus'
SOME local banks are reportedly cashing in on civil servants' United States dollar bonuses through compulsory liquidation of their 13th cheque into local currency.This comes at a time when the...Published: 04 Dec 2021 at 07:21hrs | 10 | by Staff reporter
ZBC hikes licence fees
Cabinet received an update in respect of Zimbabwe's Covid-19 response as presented by the Honourable Vice President Dr. CGDN Chiwenga as chairperson of the Ministers' National Committee.The na...Published: 10 Nov 2021 at 05:31hrs | 14 | by Staff reporter
National Blankets bounces back
BULAWAYO'S giant textile firm, National Blankets Limited, has resumed operations and is now producing as per order while pushing towards ramping up output. The company has managed to dodge liq...Published: 29 Oct 2021 at 08:44hrs | 2 | by Staff Reporter
Sustainable reforms now key to foreign exchange market
The Reserve Bank of Zimbabwe (RBZ) recently announced that it is on course to clear the backlog of foreign exchange auction allotments which date back to as far as three months and amounting to about ...Published: 08 Oct 2021 at 19:03hrs | 12 | by Victor Bhoroma
SA businessman arrested in Zimbabwe over presidential solar plant project dispute
A South African businessman was arrested last week on his arrival in Zimbabwe, and now can't leave the country because of a contractual dispute involving $1m (R14.66m) and material for the constructio...Published: 14 Aug 2021 at 07:17hrs | 1 | by Staff reporter
CSC investor starts abattoir refurbishment
UNITED Kingdom-based Cold Storage Commission (CSC) investor, Boustead Beef Limited, last week began refurbishing the company's abattoir in preparation for its re-opening, Southern Eye can reveal....Published: 12 Jul 2021 at 07:42hrs | 2 | by Staff reporter
Illicit financial flaws daunt RBZ
THE central bank is facing a gigantic task in curbing illicit financial flows with exporters having devised complex ways of evading high retention thresholds as swap deals top the list of their illega...Published: 09 Jul 2021 at 12:09hrs | 2 | by Staff reporter
Mineral output forecast to jump 11%
Mining companies expect an 11 percent growth output in the second half this year, after seeing production fall across key minerals in the first quarter, the Chamber of Mines of Zimbabwe (CoMZ) has sai...Published: 08 Jun 2021 at 06:30hrs | 3 | by Staff reporter
SA bank restructures US$200m Zinara loan
Zimbabwe got a reprieve after the Development Bank of Southern Africa (DBSA) agreed to restructure the US$206 million loan that the Zimbabwe National Road Administration got to refurbish the Plumtree-...Published: 27 May 2021 at 07:02hrs | 1 | by Staff reporter
Cyril Ramaphosa's 'plot' to kill the ANC
SOME senior ANC leaders have accused President Cyril Ramaphosa of working with external parties to collapse the governing party and replace it with a centre-right coalition led by him after the 2024 g...Published: 07 May 2021 at 11:34hrs | 4 | by Piet Rampedi
RBZ to blacklist auction forex abusers
Importers that do not acquit bills of entry to prove proper use of foreign currency from the auction system shall be blacklisted, according to Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya....Published: 02 May 2021 at 08:50hrs | 1 | by Staff reporter
BCC to intensify debt collection through service restriction
BULAWAYO City Council (BCC) has warned that it will soon cut water supplies and withdraw other services to residents in rates arrears.In a notice to residents, town clerk Christopher Dube yest...Published: 26 Apr 2021 at 06:34hrs | 4 | by Staff reporter
Bulawayo water reticulation system set for overhaul
BULAWAYO City Council (BCC) is yet to order equipment worth nearly US$300 000 for the completion of water reticulation works at Aisleby 1 and 2, nine years after council applied for the loan to implem...Published: 14 Apr 2021 at 06:33hrs | 2 | by Staff reporter
Bulawayo council seek powers to borrow $4 billion
BULAWAYO City Council is seeking authority from the Local Government ministry to borrow $4 billion arguing it has no capacity to fund its 2021 $10 billion capital budget to oil its operations....Published: 11 Apr 2021 at 06:49hrs | 2 | by Staff reporter
Court stops executor in Ginimbi estate row
THE executor of Genius Kadungure's estate has been stopped from administering the estate of the late socialite and businessman, pending finalisation of the dispute. Popularly known as Ginimbi ...Published: 09 Mar 2021 at 06:18hrs | 6 | by Staff reporter
RBZ backtracks on farmers' forex retention thresholds
THE Reserve Bank of Zimbabwe (RBZ) has been forced to raise foreign currency retention thresholds for tobacco producers by 10% following pressure from farmers.RBZ also scrapped the compulsory ...Published: 28 Feb 2021 at 08:51hrs | 5 | by Staff reporter
Plans to repeal crippling taxation on cards
THE Ministry of Mines and Mining Development is currently engaged in major discussions with fiscal and monetary authorities to address the issues of the punitive tax regime and surrender thresholds th...Published: 26 Feb 2021 at 06:55hrs | 3 | by Staff reporter
Row over Ginimbi's Lamborghini
There is a growing row in sorting out the estate of late businessman and socialite Genius Kadungure with his family reluctant to surrender the top-of-the range Lamborgini vehicle bequeathed to someone...Published: 20 Feb 2021 at 18:59hrs | 1 | by Staff reporter
State entities dominate forex allocations, says Cross
STATE firms and government departments are collecting a significant amount of funds allocated at the Reserve Bank of Zimbabwe (RBZ)'s foreign currency auction system weekly, crowding out the private s...Published: 29 Jan 2021 at 07:03hrs | | by Staff reporter
Govt probes CSC investor
A PROBE into the operations of a firm that clinched the deal to revive the Cold Storage Company (CSC) two years ago kicked off in December, with Lands, Agriculture, Water and Rural Resettlement minist...Published: 29 Jan 2021 at 07:01hrs | 2 | by Staff reporter
Load More Stories
