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Zimbabwe civil servants falling prey to loan sharks

Thousands of Zimbabwean civil servants are falling prey to loan sharks, with some operating through the Salary Service Bureau (SSB) to directly access workers' salaries. A recent survey by Business Times revealed that many civil servants a…

Published: 04 Sep 2025 at 08:31hrs | 576 | by Staff reporter

Mnangagwa dangles US$2 billion loan facility

President Emmerson Mnangagwa has unveiled a US$1.98 billion loan facility to be rolled out over the next decade to help farmers boost productivity and withstand the impacts of climate change through an irrigation-focused package.The facili…

Published: 26 Aug 2025 at 07:49hrs | 471 | by Staff reporter

Ramaphosa gets a R26.5bn World Bank loan

The World Bank has approved a $1.5 billion (approximately R26.5 billion) loan to support structural reforms aimed at boosting South Africa's infrastructure.The Washington-based lender said in a statement the operation will address the nati…

Published: 10 Jun 2025 at 10:14hrs | 869 | by Staff reporter

Mnangagwa's son grilled over US$200m seed debt

Finance and Investment Promotion Deputy Minister David Mnangagwa has come under fire in Parliament after it emerged that the Government owes Valley Seeds Private Limited nearly US$200 million for agricultural inputs supplied under the Vuln…

Published: 19 May 2025 at 13:58hrs | 1784 | by Staff reporter

Botswana gets $304 million AfDB loan

The African Development Bank (AfDB) has approved a $304 million loan to Botswana as the country grapples with rising fiscal pressures and seeks to implement crucial governance and economic reforms. The loan, which was approved by the AfDB'…

Published: 16 May 2025 at 17:29hrs | 462 | by Staff reporter

George Guvamatanga gave company 'illegal' bank guarantee on $20 million loan

Treasury secretary George Guvamatanga has been accused of providing an "illegal and unconstitutional" bank guarantee for a US$20 million loan to a seed company linked to command agriculture corruption.Guvamatanga, in a letter to Ecobank, s…

Published: 17 Apr 2025 at 20:32hrs | 6606 | by Staff reporter

CCC councillors demand US$4,000 vehicle loan

BULAWAYO City Councillors have controversially resolved to receive US$4,000 each in personal loan facilities for the purchase of vehicles - a move that defies a Government directive and comes at a time when the local authority is grappling…

Published: 06 Apr 2025 at 11:28hrs | 708 | by Staff reporter

Mystery over council's vanished US$4,5m loan deepens

A forensic audit has revealed that Harare City Council's US$4.5 million loan to Harare Quarry Private Limited was advanced without a formal agreement, raising concerns over governance and financial mismanagement. The council was also not l…

Published: 03 Apr 2025 at 08:16hrs | 289 | by Staff reporter

Bulawayo City Council installs new elevators at Tower Block

The Bulawayo City Council has invested US$778 260 in installing new elevators at the Tower Block Municipal Building, with further plans to rehabilitate other key city assets, including the City Hall Clock. The six new elevators were commis…

Published: 03 Mar 2025 at 12:32hrs | 1 | by Staff reporter

Bulawayo roads crumble

BULAWAYO'S road network is crumbling under the strain of heavy rains, deepening potholes and forcing commuter omnibus operators to avoid smaller roads in both western and eastern suburbs.The worsening road conditions have disrupted public …

Published: 03 Mar 2025 at 12:32hrs | 318 | by Staff reporter

Zimbabwe secures US$20 million to construct 120 schools

The Ministry of Primary and Secondary Education has secured US$20 million from international partners, with additional funding from the Treasury, as the Government aims to construct 120 new schools and 300 classrooms this year to address t…

Published: 03 Mar 2025 at 12:32hrs | 152 | by Staff reporter

Zimbabwe banking sector strengthens amid declining non-performing loans

The Reserve Bank of Zimbabwe (RBZ) has reported a significant improvement in the country's banking sector credit risk landscape, marked by a decrease in the ratio of non-performing loans (NPLs) to total loans. As of June 30, 2024, the NPL …

Published: 24 Nov 2024 at 09:55hrs | 108 | by Staff reporter

Local Bank proposes US$35bn loan to Zimbabwe Government

Time Bank of Zimbabwe has proposed a US$35 billion syndicated loan to the government to address compensation obligations for various groups, including previous farm owners and foreign lenders, as part of a broader strategy to improve the c…

Published: 27 Aug 2024 at 12:42hrs | 3113 | by Staff reporter

Mutapa Fund facilitates US$431m loan for NRZ

The Mutapa Investment Fund (MIF) is facilitating a US$431 million loan from Afreximbank to support the National Railways of Zimbabwe (NRZ) in its infrastructural rehabilitation efforts. This development was confirmed by MIF CEO John Mangud…

Published: 17 Jun 2024 at 09:00hrs | 7 | by Staff reporter

Zimbabwean man wins US$1m loan court challenge

A HARARE man has won a US$1 million Supreme Court loan challenge after a local company that he loaned US$900 000 tried to repay the loan in local currency.The applicant Brian Rodney Baron had sued Verdure Investments, Icenta Investments an…

Published: 19 Mar 2024 at 12:58hrs | 8 | by Staff reporter

US$115m loan for NRZ imminent

The National Railways of Zimbabwe is on the verge of finalizing a loan agreement of US$115 million with the African Export-Import Bank (Afreximbank). Out of this amount, $81 million will be allocated to the procurement of rolling stock fro…

Published: 29 Oct 2023 at 12:25hrs | 8 | by Staff reporter

NRZ gets US$115m loan to procure new locomotives, wagons

A NEW era is beckoning for the National Railways of Zimbabwe (NRZ), which is expected to tap into a US$115 million line of credit negotiated by the Government towards procurement of new locomotives and wagons to boost the company's freight…

Published: 25 Jul 2023 at 06:39hrs | 3 | by Staff reporter

'US$400m facility won't stabilise Zimbabwe economy'

OLD Mutual Investment Group (OMIG) says the US$400 million funding secured by the government from the African Export-Import Bank (Afreximbank) is insufficient to restore stability to the local currency.Last month, Reserve Bank of Zimbabwe …

Published: 19 Jul 2023 at 06:43hrs | 4 | by Staff reporter

Mnangagwa awards US$400k loans to judges 3 months before elections

President Emmerson Mnangagwa's government has controversially awarded US$400 000 housing loans to all judges in the country, three months before elections, Nehanda Radio reported.The President, last week, declared 23 August as the day for …

Published: 06 Jun 2023 at 19:27hrs | 2 | by Staff reporter

MPs for sale, damnable loans

DEAR President Emmerson Mnangagwa,Your Excellency, as I see it, the Legislature ought to have felt unease about the impropriety of accepting housing loans from Treasury at a time hospitals are in dire straits. It is damnable that they scoo…

Published: 14 Dec 2022 at 06:43hrs | 2 | by Cyprian M Ndawana

Smallholder farmers to benefit from US$15 million loan

SMALLHOLDER farmers will soon benefit from a US$15 million loan obtained by the Government from the OPEC Fund for International Development.Finance and Economic Development Minister Professor Mthuli Ncube last week gazetted the loan agreem…

Published: 12 Dec 2022 at 01:02hrs | 207 | by Staff Reporter

Chamisa to recall rebellious MPs over the $40,000 loans?

CITIZENS Coalition for Change (CCC) leader Nelson Chamisa has said that his party's lawmakers who accepted the US$40 000 loan facilities from parliament crossed the line and will be punished.Parliament offered US$40 000 housing loan to eac…

Published: 06 Dec 2022 at 06:58hrs | 1 | by Staff reporter

Mliswa says Ministers' US$20m controversial allowances not budget for

CONTROVERSY over the huge housing allowances for Zimbabwean ministers and deputy ministers has deepened amid revelations the money was not budgeted for in the first place.This is according to chairperson of the parliamentary welfare commit…

Published: 04 Dec 2022 at 09:06hrs | 3 | by Staff reporter

2019 protests: Affected businesses qualify for loans

BUSINESSES destroyed during protests in January 2019 qualify for affordable Government loans and now a team from the security forces is on the ground reconstructing destroyed and damaged buildings. A team of Zimbabwe's security forces comp…

Published: 29 Jan 2021 at 06:43hrs | 3 | by Staff reporter

Steer clear of loan sharks

"Sir, if those assets just decrease by 25% and they remain on our books, that loss will be greater than the entire market capitalisation of this company," said a young risk analyst named Peter Sullivan (Zachary Quinto) in a 2011 American d…

Published: 15 Jan 2021 at 07:48hrs | 11 | by Batanai Matsika

Mnangagwa mortgages Zimbabwe to Afreximbank

President Mnangagwa yesterday successfully negotiated a fresh financial package for Zimbabwe from the African Export-Import Bank (Afreximbank) after meeting the bank's chairperson, Professor Benedict Okey Oramah. The President met Prof Ora…

Published: 30 Aug 2019 at 08:05hrs | 772 | by Staff reporter

Afreximbank grants Zimbabwe interbank forex trade loan

Cairo-based Africa Export and Import Bank (Afreximbank)  has extended an undisclosed amount in lines of credit to Zimbabwe's interbank foreign exchange trading  to stabilise the forex supply in the economy and address liquidity c…

Published: 24 Mar 2019 at 18:55hrs | 21 | by Staff reporter

Loan shark who terrorised fellow Zimbabweans must repay Â£40,000 or face jail

Loan shark Rita Tahwa has been ordered to repay Â£40,000 (US$52,000) or face going to jail after she illegally lent money to 100 members of the Zimbabwean community.The 43-year-old started loaning cash after she was appointed as the admini…

Published: 05 Feb 2019 at 06:36hrs | 1 | by stokesentinel.co.uk

Govt negotiates $216m for NRZ

Government is in negotiations with the Diaspora Infrastructure Development Group and Transnet Consortium for the financing of the National Railways of Zimbabwe (NRZ) to the tune of $216 million, according to Government's 2019 Infrastructur…

Published: 23 Dec 2018 at 08:32hrs | 4 | by Staff reporter

Mourners fight over deceased loan sharks' loot

THE FUNERAL gathering for a Gwanda couple suspected to have been among the 30 people that perished at the West Nicholson bus accident has been turned into a war zone as two families fight over a trunk known to have cash in most instances a…

Published: 01 Dec 2018 at 14:26hrs | 5 | by Staf reporter

Biti is offside on the British loan to Zim businesses

The opposition politicians must know what to oppose and what to support unless if they want to lose respect in the eyes of the citizens.The Tendai Biti attack on the $100M private sector loan to Zimbabwe by Britain's CDC and Standard Chart…

Published: 18 May 2018 at 11:00hrs | 4 | by Hopewell Chin'ono

Cain Mathema ordered to repay $50 000 Agribank loan

THE High Court has ordered Matabeleland North Provincial Affairs minister Cain Mathema to repay a $50 000 loan he borrowed from Agribank nearly four years ago.The bank filed summons against the minister sometime in January this year and la…

Published: 13 Jun 2017 at 06:39hrs | 2 | by Staff reporter

SA parties favour Zimbabwe loan

Two opposition parties said on Wednesday they were in favour of loaning money to cash-strapped Zimbabwe to fund its coming elections.The African Christian Democratic Party (ACDP) said money spent helping Zimbabweans take ownership of their…

Published: 18 Apr 2013 at 05:23hrs | 1 | by Sapa

Mwana Africa secures loan for Zimbabwe mine

Mwana Africa has raised $6 million to fund its efforts to ramp up production at the Freda Rebecca gold mine in Zimbabwe and take advantage of record high gold prices.The diversified mining company raised the funds by drawing down the secon…

Published: 16 Aug 2011 at 17:09hrs | 704 | by Nare Msupatsila

Learn-now-pay-later unsustainable

As Zimbabwe is highly respected for valuing education as a fundamental right for every child, the policy compelling schools to accept children without paying fees has left most institutions teetering on the brink of collapse.While the Gove…

Published: 20 Jun 2011 at 13:08hrs | 4 | by Daniel Nemukuyu

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Zimbabwean-origin taxi boss killed in South Africa

Mudenda lures Japanese investors

Zimbabwe considers project-specific model for debt clearance

Scottland in match-fixing storm?

Chiwenga accuses Tagwirei of looting billions from Zanu-PF

Mnangagwa issued a stern warning

Sikhala reps reprimand police

Calls grow for victim-centred Gukurahundi hearings in Bulawayo

Makarawu hits, Charamba misses out by a whisker

Dad strips naked in front of his daughter, beats up wife

Sex-for-prayers cult exposed

2 women arrested for theft at Mpilo Central Hospital

Land disputes dominate traditional court hearings

Anglican seeks land to expand schools

War vets leader under siege over ED2030

Negligent Harare gynaecologist exposed

Mnangagwa says Zanu-PF is 'unstoppable'

Harare City Council chokes under ZiG8 billion debt

Scottland FC dismisses claims of funding Simba Bhora

Man jailed for fictitious daughter's death

Warriors plummet in FIFA Rankings

Herentals College shut down in Harare council blitz

Accept Tagwirei co-option, Mnangagwa 2030 extension bids,' Harare pleads

Maize meal thief jailed two years

Quartet nabbed over snooker dispute

Trio arrested over fatal chicken slaughter revenge

Zimbabwe-Ndebele speaking Zandile stop Criminal Operation Dudula!

SMEs can contribute significantly to Zimbabwe's economic revival, says Minister Mutsvangwa

FIFA probes South Africa over ineligible Mokoena

Mnangagwa rejects 2028 elections delay