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Zimbabwe juggles US$1bn TBs to avert crisis
President Emmerson Mnangagwa's government is restructuring repayment terms for Treasury Bonds (TBs) as it grapples with escalating debt obligations and the looming threat of default. With nearly US$74...Published: 06 Dec 2024 at 18:06hrs | 294 | 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
Global interventions to end HIV and AIDS: A call for sustained action
As the world marks over four decades since the emergence of HIV and AIDS, the global response has evolved from fear and stigma to hope and determination. Through innovative interventions, robust fundi...Published: 03 Dec 2024 at 14:25hrs | 332 | by Marilyn Mutize
SA-based Diaspora Kapita to issue US$10m bond in Zimbabwe
South Africa-based investment holding firm Diaspora Kapita (DK) is set to make waves in the Zimbabwean financial landscape as it prepares to list on the Victoria Falls Stock Exchange (VFEX) and raise ...Published: 02 Dec 2024 at 07:16hrs | 192 | by Staff reporter
Zimbabwean accountant in R17m theft from Joburg non-profit entity
A ZIMBABWEAN accountant is in trouble for the theft of over R17 million from his former employer, Johannesburg-based non-profit company Education and Training Unit (ETU), over a period of six years....Published: 24 Nov 2024 at 16:01hrs | 2510 | by Staff reporter
Chinese debt threatens to switch off Zimbabwe's Hwange
Zimbabwe's industrial sector is on edge this week as concerns grow over the future of the Hwange Thermal Power Station, a critical asset for the country's beleaguered power grid. With power utility Ze...Published: 24 Nov 2024 at 10:14hrs | 11679 | by Staff reporter
Ex-magistrate in court for using Dr Makamba's name to commit fraud
Former Bindura magistrate Edith Kakuruwo and her co-accused, Elvis Muzavazi, appeared at the Bindura Magistrates' Court facing charges of defrauding a businessman of over US$3,000 by allegedly misusin...Published: 14 Nov 2024 at 13:42hrs | 1572 | by Staff reporter
Manager in court over ghost workers
Tinashe Madzima, a human resources manager at Livetouch Investments Private Limited, appeared in court on Tuesday facing fraud charges after allegedly creating fictitious employee accounts to defraud ...Published: 31 Oct 2024 at 06:50hrs | 667 | by Staff reporter
Mnangagwa's govt in soup over unsanctioned US$500m 'loan'
A local citizen, Marvelous Khumalo, has taken the Zimbabwean government to court, demanding the repayment of over half a billion United States dollars allegedly misappropriated through unauthorized bo...Published: 29 Oct 2024 at 07:44hrs | 1115 | by Staff reporter
Bad debtor attempts to murder money lender
A 24-year-old man from Matura Compound in Chinhoyi has been sentenced to three years in jail for attempted murder after a violent altercation with a neighbor over an unpaid loan. Byron Kachimanga was ...Published: 24 Oct 2024 at 07:55hrs | 305 | by Staff reporter
Zanu-PF chair riled by policemen
Zanu-PF provincial chairperson for Bulawayo, Jabulani Sibanda, last week reprimanded police officers for failing to show respect during the national anthem at the groundbreaking ceremony for the civil...Published: 22 Oct 2024 at 08:01hrs | 641 | by Staff reporter
Zimbabwe govt launches major housing project in Matabeleland North
In a significant step toward its goal of providing affordable housing for all citizens, the Zimbabwean government has launched a new housing project in Emthunzini Township, Matabeleland North Province...Published: 19 Oct 2024 at 12:05hrs | 5905 | by Staff reporter
Zanu-PF MP lives luxury lifestyle, fails to pay debts
Despite his ongoing development of a US$5 million rural shopping complex at Skuta Business Centre along the Bulawayo-Masvingo highway in Filabusi, Zanu PF Insiza North MP Farai Taruvinga is facing leg...Published: 15 Oct 2024 at 09:18hrs | 2988 | by Staff reporter
Zimbabwe has US billion dollars overseas, can wipe out debt within 24 hrs
The recent Bulawayo24 article tells us that Zimbabwe is cash-strapped: it has a staggering debt of US$ 31billion; both domestic and international. This statement is partly true. In paper, Zimbabwe is ...Published: 13 Oct 2024 at 19:56hrs | 25198 | by Nomazulu Thata
Prophet Walter Magaya in financial trouble
Leading ZIFA presidential candidate Prophet Walter Magaya is at risk of losing his hotel and the Heart Stadium in Waterfalls, Harare, due to an outstanding debt of US$420,000 owed to GetBucks Microfin...Published: 12 Oct 2024 at 16:47hrs | 2579 | by Staff reporter
Zanu-PF MP ordered to pay US$3 million
Zanu-PF's Insiza North Member of Parliament, Farai Taruvinga, a prominent gold baron in Matabeleland South province, is facing legal action from gold buyer Shasha Richard Gomez over an unpaid gold del...Published: 07 Oct 2024 at 12:18hrs | 1837 | by Staff reporter
BAZ, central bank meet over policy interventions
The Bankers Association of Zimbabwe (BAZ) held a crucial meeting with the Reserve Bank of Zimbabwe (RBZ) governor, Dr. John Mushayavanhu, on Monday to address key policy changes from the Monetary Poli...Published: 03 Oct 2024 at 08:44hrs | 56 | by Staff reporter
Tracing debtors can be a headache unless done by professionals
Tracing people who owe them money can be a headache for many organisations, including small enterprises. The money may never be recovered simply because the person owing the money becomes evasive and ...Published: 26 Sep 2024 at 11:24hrs | 225 | by Agencies
Zimbabwe's ballooning US$21 billion debt spirals out of hand
Citizen Coalition for Change (CCC) Mbizo Member of Parliament (MP), Corban Madzivanyika, has raised alarm over Zimbabwe's escalating public debt, which has now surpassed US$21 billion. During a recent...Published: 15 Sep 2024 at 10:06hrs | 1816 | by Staff reporter
Winter wheat harvesting begins in Zimbabwe
Farmers across the country have begun harvesting early-planted winter wheat, with others preparing to start soon, aiming for a smooth and timely harvest of the valuable crop. To support this effort, t...Published: 15 Sep 2024 at 09:56hrs | 150 | by Staff reporter
The day Sadc failed
THREE weeks ago, the regional bloc,Southern African Development Community (Sadc), hosted the 44th summit in Harare.The summit saw Zimbabwe becoming the chair of the region for the next...Published: 07 Sep 2024 at 10:12hrs | 220 | by Paidamoyo Muzulu
Driver defrauds InnBucks of US$13,700
Cleopas Chisingarambwe, a part-time driver for Abro Coaches, appeared in the Harare Magistrates Court on charges of defrauding InnBucks MicroBank of US$13,700. Magistrate Dennis Mangosi re...Published: 22 Aug 2024 at 07:19hrs | 3779 | by Staff reporter
Man stabs ex-lover over US$40
A 49-year-old man from Kariba was sentenced to 30 months in prison for attempting to murder his ex-lover over a US$40 debt.According to the National Prosecuting Authority of Zimbabwe (NPAZ), t...Published: 04 Aug 2024 at 15:26hrs | 501 | by Staff reporter
Granny raped 'for grand-daughter's sins'
IN a rather bizarre incident, a 72-year-old woman from Mgadla Village, Matobo District in Matabeleland South province was allegedly raped by her granddaughter's 22-year-old ex-lover as repayment for a...Published: 20 Jul 2024 at 12:09hrs | 524 | by Staff reporter
Zimbabwean man wants his R1.6 million lobola back
SOUTH Africa-based businessman, Shepherd Chipatiko, is demanding back the R1,6 million (about US$91 000), he splashed on lobola and marriage celebrations, from his ex-wife after their short-lived marr...Published: 08 Jul 2024 at 11:20hrs | 45 | by Staff reporter
President William Ruto's poor and misguided politics! He lied to the voters
We still have voices in Africa that spell it out: That one voice comes from Ghana: Kwesi Prett Jr. does not mince words: His politics is eloquent, he understands African politics. Without fear or favo...Published: 02 Jul 2024 at 21:11hrs | 22 | by Nomazulu Thata
The death of coalitions
To drag out or not to drag Biden!What a disaster for the Democrats in United States elections!With little foresight or care, Democrats pitted a dead-man-come-to-life by the name of Joe...Published: 30 Jun 2024 at 18:16hrs | 2 | by @Jamwanda2 on Saturday
Man sells lover's car to raise lobola for another woman
In a tumultuous tale of betrayal and financial disputes, Blessing Manyange, the son of Bethsaida Apostolic church priest Fungayi Manyange, stands accused of selling his girlfriend Charity Madare's Hon...Published: 24 Jun 2024 at 10:41hrs | 14 | by Staff reporter
Bizarre tariffs cripple Zimbabwe power projects
In Harare, Zimbabwe, Gloria Magombo, the Permanent Secretary of the Ministry of Energy and Power Development, highlighted the challenges faced by the country's sub-economic tariffs in funding crucial ...Published: 20 Jun 2024 at 07:32hrs | | by Staff reporter
Fidelity Gold Refinery gold supply zero-rating policy shows promise
The zero-rating of gold deliveries to Fidelity Gold Refinery (FGR) has started bearing fruits as the local currency, the Zimbabwe Gold (ZiG) continues to strengthen while gold miners have been allevia...Published: 18 Jun 2024 at 17:17hrs | 57 | by Tonderai Ndoro
Zesa seeks to settle loans in ZiG
Zesa Holdings is implementing cost-containment measures to drive revenue and pay off its significant loans. With successful expansion projects at Kariba Hydro Power Station and Hwange's units 7 and 8,...Published: 13 Jun 2024 at 06:51hrs | 2 | by Staff reporter
Zimbabwe demands major reductions on $19.2bn debt
Zimbabwe has asked its creditors for significant debt reductions on its $19.2 billion internal and external debt, Bloomberg reported on May 30, citing Finance Minister Mthuli Ncube."We will be...Published: 03 Jun 2024 at 09:07hrs | | by Staff reporter
Indian business mogul tried to defraud Zimbabwean govt over $100 million
Documents obtained by NewZimbabwe reveal that Ashok Jain, an Indian businessman, attempted to defraud the Zimbabwean government of over US$100 million in a dubious deal. According to these doc...Published: 03 Apr 2024 at 06:07hrs | 1 | by Staff reporter
Mr Kudzai Mutisi, the German 'Economic wonder' after the WW2 had multiple favourable factors!
I am writing this article as a reply to your article you wrote last week: My article is not in any way or form critiquing your own but including factors that must be known, but, however, adding to wha...Published: 20 Mar 2024 at 20:53hrs | 2 | by Nomazulu Thata
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 ...Published: 19 Mar 2024 at 12:58hrs | 2 | by Staff reporter
Zimbabwe must deal with currency volatility causes, not symptoms
THE United Nations Economic Commission for Africa (Uneca) executive secretary Claver Gatete this week said Zimbabwe should deal with the root causes of currency volatility not symptoms.Gatete ...Published: 07 Mar 2024 at 05:10hrs | 1 | by Staff reporter
UK company sues Chiwenga
A UNITED KINGDOM and Wales-based company, Electricity Management Services Limited (EMS) has sued Vice-President Constantino Chiwenga after losing a tender to supply smart meters.EMS is also ch...Published: 06 Mar 2024 at 20:55hrs | 27 | by Staff reporter
Electricity tokens prepayment system won't be available on 31 December
PREPAID electricity consumers will not be able to buy cash power on New Year's Eve, the Zimbabwe Electricity and Distribution Company (ZETDC) has said.In a statement the power utility said the...Published: 30 Dec 2023 at 16:51hrs | 4 | by Staff reporter
Secrecy surrounding resource-backed loans in Zimbabwe
IntroductionTO realize the aspirations of Vision 2030, Zimbabwe needs to invest US$2 billion in infrastructure development in five consecutive years to close the infrastructure asset gap, a hu...Published: 07 Dec 2023 at 05:29hrs | 15 | by Mbongeni Nhliziyo
ZETDC in the red
THE Auditor-General (AG)'s latest report has revealed that the Zimbabwe Electricity Transmission and Distribution Company (ZETDC)'s liabilities currently exceed its assets by ZWL$24,5 billion....Published: 28 Nov 2023 at 05:28hrs | | by Staff reporter
The ultimate guide to finding the perfect franchise
Are you tired of working a 9-5 job and dreaming of being your own boss? Have you considered investing in a franchise but don't know where to start? Look no further! In this ultimate guide, we will wal...Published: 15 Nov 2023 at 09:32hrs | 15 | by Staff Reporter
SOEs, parastatals bleed Treasury
State-owned enterprises (SOEs) and parastatals have suffered significant financial losses, totaling millions of US dollars, due to procurement scams where suppliers received prepayments but failed to ...Published: 26 Oct 2023 at 06:42hrs | 1 | by Staff reporter
Zimbabwe electricity company seeks tariff increase
The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has submitted a request to raise electricity tariffs for 2023 by 2 cents per kilowatt-hour (kWh). The power utility argues that t...Published: 08 Oct 2023 at 07:45hrs | 1 | by Staff reporter
Zimbabwean loan shark jailed in the UK
A Birmingham caregiver who engaged in illegal loan shark transactions, collecting £350,000 and charging a 20% interest rate, has been sentenced to jail.Tecla Bandawe, driven by greed, provide...Published: 02 Oct 2023 at 09:19hrs | 1 | by Staff reporter
Living wage not equivalent to minimum wage
Working poverty is a reality worldwide. For many workers, a job does not provide a way out of poverty for them and their families. A living wage is not necessarily equivalent to the minimum wage. Mini...Published: 26 Jul 2023 at 06:39hrs | 11 | by Emmanuel Zvada
Zimbabwe central bank owes over $4bn for food, fuel supply
Zimbabwe's central bank has racked up debts of more than $4 billion to banks and companies, including commodities giant Trafigura Group and national flag carrier South African Airways.The Rese...Published: 22 Jul 2023 at 08:07hrs | 2 | by Staff reporter
BCC considers blacklisting debtors
THE Bulawayo City Council is reportedly considering blacklisting some of its bad debtors as it continues to explore avenues of boosting revenue collection.The move comes as the city's debtors ...Published: 25 Jun 2023 at 09:36hrs | 1 | by Staff reporter
ZESA pays coal suppliers in forex
ZESA Holdings is now paying coal suppliers in foreign currency, a development expected to ensure smooth supply of the commodity to the expanded Hwange thermal power station.The Coal Producers ...Published: 15 Jun 2023 at 06:41hrs | | by Staff reporter
ZITF seeks refuge from currency crisis
THE Zimbabwe International Trade Fair (ZITF) Company has proposed to pay its utility bills to the Bulawayo City Council (BCC) four months in advance citing a free-falling local currency.The lo...Published: 11 Jun 2023 at 21:33hrs | 2 | by Staff reporter
ConCourt backs RBZ on US dollar conversion
The 2018 decision by the Reserve Bank of Zimbabwe (RBZ) to convert all US dollar balances in Zimbabwean bank accounts to local currency was quite constitutional the Constitutional Court ruled yesterda...Published: 01 Jun 2023 at 06:40hrs | | by Staff reporter
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