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Debunking mischief about Tagwirei, Sakunda
There has been a sustained casting of aspersions over the success of businessman Mr Kudakwashe Tagwirei, whom I will simply call Kuda, from anti-Zimbabwe media and activists both locally and outside t...Published: 10 Jul 2024 at 16:49hrs | 13 | by Rutendo Bereza Matinyarare
The Sentry report on Mutapa Fund is shallow and weak
I had the MISFORTUNE of going through a report prepared and distributed by The Sentry, possibly written by an excitable Nick Donovan. Long story short, the report is shallow and weak. Here is ...Published: 04 Jul 2024 at 16:37hrs | 13 | by MMatigary
Tagwirei amassed his wealth through legal means
Former opposition politician Eddie Cross has defended Zanu-PF-affiliated business magnate Kudakwashe Tagwirei, asserting that the billionaire's wealth was accumulated through lawful means.Tagw...Published: 25 Mar 2024 at 06:31hrs | 13 | by Staff reporter
Cross fights in Tagwirei's corner
BUSINESS tycoon Kudakwashe Tagwirei made his wealth in the fuel sector and did not use any political connections to achieve his status, President Emmerson Mnangagwa's biographer Eddie Cross has said....Published: 25 Mar 2024 at 05:29hrs | 1 | by Staff reporter
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
Namibia, Zimbabwe gear up to keep more profits from lithium boom
Lithium-rich African countries, including Zimbabwe and Namibia, are trying to develop processing and refining industries to capture more of the profits of global demand for the battery material....Published: 12 Feb 2023 at 07:40hrs | | by Staff reporter
Headwinds ahead for Zanu-PF
NORTON Independent legislator Temba Mliswa remains a comical character but he is one you cannot afford to ignore.A rabble-rouser of note, he has been a thorn in the flesh of Zanu-PF ever since...Published: 21 Jan 2023 at 11:26hrs | | by Staff reporter
Scandal-ridden Glencore has a big footprint in Zimbabwe
GLOBAL commodities giant Glencore, one of the world's largest diversified natural resource companies, currently engulfed in a corruption and bribery storm in the United States, Britain and Brazil, has...Published: 31 May 2022 at 07:37hrs | 119 | by Staff reporter
Our country is being mortgaged
THE biggest story last week was that the world's largest private metal trader and second-largest oil dealer, Trafigura Group shall be paid US$225,6 million by nickel and gold-mining subsidiaries of St...Published: 02 May 2022 at 08:01hrs | | by Staff reporter
Trafigura seeks control of Zimbabwe metals over debts
TRAFIGURA Group and Zimbabwe's government have discussed a deal that would give the commodities trader control over output from some of the nation's biggest mines as repayment for debts, documents see...Published: 30 Apr 2022 at 16:15hrs | | by Staff reporter
Debunking mischief about Tagwirei, Sakunda
There has been a sustained casting of aspersions over the success of businessman Mr Kudakwashe Tagwirei, whom I will simply call Kuda, from anti-Zimbabwe media and activists both locally and outside t...Published: 25 Mar 2022 at 05:54hrs | 1 | by Rutendo Bereza Matinyarare
Tagwirei eyes government fuel monopoly
Rapacious oligarch Kudakwashe Tagwirei would supply all government departments with fuel when he completes the capture of Petrotrade and Genesis, the two government-owned petroleum companies, ZimLive ...Published: 15 Mar 2022 at 15:54hrs | | by Staff reporter
Mnangagwa's allies continue minting it
FEASIBILITY studies of the shady US$1.3 billion petroleum pipeline project, whose cost has quickened from US$850 million to US$1.3 billion and will ultimately surge to US$4 billion, are nearing comple...Published: 30 Jan 2022 at 17:00hrs | 8 | by Staff reporter
'Mnangagwa is a hostage to military interests'
President Emmerson Mnangagwa's biographer Eddie Cross claims the Zanu-PF leader was a hostage to military interests for seven months after assuming power following a military coup in November 2017....Published: 07 Oct 2021 at 18:25hrs | 5 | by Staff reporter
Controversial pipeline deal to balloon to US$4 billion
FRESH details on the controversial US$1.3 billion new pipeline project, whose implementation is being spearheaded by President Emmerson Mnangagwa's political and business cronies, have emerged showing...Published: 21 Aug 2021 at 13:07hrs | 7 | by Staff reporter
Mnangagwa associates behind the US$1.3 billion mega deal
PRESIDENT Emmerson Mnangagwa's political and business cronies, including his new associate Eddie Cross, are behind the new US$1.3 billion megabucks petroleum products pipeline project – whose cost h...Published: 14 Aug 2021 at 18:27hrs | | by Staff reporter
Zimbabwe plans new US$1.3bn oil pipeline, finally ending Feruka monopoly
Zimbabwe plans to build a second US$1.3 billion oil pipeline to supply fuel into the country and the region, a deal that would end years of lobbying and rivalry between powerful oil interests....Published: 11 Aug 2021 at 21:29hrs | | by newzwire
Tagwirei's vast tentacles grip Zimbabwe government
KUDAKWASHE Tagwirei's influence on government in recent years has been unmatched.The shadowy businessman has emerged one of the biggest beneficiaries of the November 2017 military coup which o...Published: 17 Jul 2021 at 15:26hrs | 8 | by Staff reporter
UK company proposes US$850m fuel pipeline for Zimbabwe
A UNITED Kingdom-registered oil company with strong South African links, Coven Energy Limited, has tabled an ambitious US$850 million investment proposal to construct Zimbabwe's second fuel pipeline i...Published: 03 Jul 2021 at 21:35hrs | 2 | by Staff reporter
Sanctions hit Tagwirei's business empire
UNITED States sanctions have begun to take a toll on President Emmerson Mnangagwa's ally, Kudakwashe Tagwirei, with his Sakunda Holdings embarking on a retrenchment exercise that has seen the company ...Published: 02 Jul 2021 at 19:32hrs | 1 | by Staff reporter
Struggling Sakunda retrenches workers
Sakunda Holdings has retrenched tens of workers as economic sanctions imposed on the firm and its chief executive officer Kudakwashe Tagwirei take a toll on the once shinning company in Zimbabwe....Published: 01 Jul 2021 at 17:15hrs | 1 | by Simbarashe Sithole
Tagwirei's Sakunda in massive retrenchment exercise
OIL firm, Sakunda Holdings (Sakunda) has embarked on a massive retrenchment exercise, a move which has seen the company laying off most of its workers and leaving a skeleton staff of only 16 employees...Published: 01 Jul 2021 at 14:55hrs | | by Staff reporter
Mystery of Kuda Tagwirei's assets in Zimbabwe revival plan
In December, the government of Zimbabwe announced a multibillion-dollar project called Kuvimba Mining House Ltd. that would hold some of the nation's most valuable gold, platinum, chrome and nickel mi...Published: 11 May 2021 at 09:02hrs | 6 | by Staff reporter
Mnangagwa, Chiwenga-linked cartels take over public firms, mines, fuel sector - report
HIGHLY secretive cartels linked to President Emmerson Mnangagwa and Vice President Constantino Chiwenga are reported to have taken over the operations of key state-owned companies, including private f...Published: 10 Feb 2021 at 07:33hrs | 4 | by Staff reporter
Fuel, mines and banks the Tagwirei method
TAGWIREI has built up his wealth in large part through a long-standing partnership with major commodities trader Trafigura, which has been trying to distance its operations from him as he faces intern...Published: 10 Feb 2021 at 06:23hrs | | by Staff reporter
Kuvimba: How to hide a mining giant in plain sight
A year ago, Kuvimba Mining House did not exist. now it could be the country's biggest gold producer.How? The answer shows how transparency is still not a thing for Zimbabwean authorities....Published: 10 Jan 2021 at 08:10hrs | 21 | by Staff reporter
How South Africa can nudge Zimbabwe toward stability
What's new? As Zimbabwe's political and economic crises worsen, South Africa is moving beyond its policy of "quiet diplomacy" with its northern neighbour and applying more pressure on Harare to open...Published: 18 Dec 2020 at 06:42hrs | | by crisisgroup
Share swap exposes Tagwirei's vast web
A transaction in which the National Social Security Authority (NSSA) disposed of its 37,79% ZB Financial Holdings (ZBFH) shareholding was a swap deal that saw the authority clinching CBZ shares worth ...Published: 04 Dec 2020 at 07:27hrs | 10 | by Staff reporter
RBZ raises red flag on forex demand
Daily demand for diesel has gone up by 20 percent to 3,6 million litres over the last four months as business and domestic consumers now heavily rely on the commodity to mitigate rolling power cuts cu...Published: 29 Jul 2019 at 14:48hrs | | by Staff reporter
Social media to blame for fuel price hikes: Govt
ENERGY minister Fortune Chasi and Reserve Bank governor John Mangudya yesterday blamed the social media for spreading false narratives about the fuel situation, resulting in panic-buying and contribut...Published: 31 May 2019 at 18:20hrs | | by Staff reporter
Zimbabwe owes foreign fuel suppliers $200 million
Zimbabwe owes foreign fuel suppliers, including Glencore, Total and Trafigura $200 million, which has made new imports difficult as companies require cash upfront, the energy minister and central bank...Published: 30 May 2019 at 18:47hrs | | by Reuters
Biti wants Zimbabwe to redollarise
THE crippling fuel and power shortages facing Zimbabwe are likely to get worse if government fails to deal with price distortions on the market, former Finance minister Tendai Biti has said.Sp...Published: 20 May 2019 at 16:40hrs | | by Staff reporter
Zimbabwe should fully liberalize the petroleum industry
It has become apparent that the Zimbabwean government is failing to sustain its fuel subsidy in the economy due to foreign currency shortages. The rationale for such a subsidy has been to bring price ...Published: 18 May 2019 at 18:23hrs | 1 | by Victor Bhoroma
Zimbabwe fuel crisis could get worse, warns Mnangagwa ally
Long fuel queues formed around Zimbabwe on Monday, on the same day that the Energy Minister Joram Gumbo warned it might get worse.Zimbabwe's problem is simple: Trafigura and Glencore have mil...Published: 07 May 2019 at 06:12hrs | | by ZimLive
Mutsvangwa blames 'Queen Bee' for high fuel prices
Trafigura, the global commodities trader, is facing accusations that it used a partner's connections to Zanu-PF to gain an unfair advantage in the supply of fuel to the southern African nation.The...Published: 14 Apr 2019 at 10:12hrs | 4 | by Joseph Cotterill and David Sheppard I Financial Times
Zimbabwe's fuel pipeline allegedly 'captured' by Trafigura
Trafigura, the global commodities trader, is facing accusations that it used a partner's connections to Zimbabwe's ruling party to gain an unfair advantage in the supply of fuel to the southern Africa...Published: 12 Apr 2019 at 07:13hrs | 24 | by Joseph Cotterill and David Sheppard
No fuel price hikes, says Jorum Gumbo
Government has no intention of adjusting current fuel prices, a Cabinet Minister has said, dismissing claims on social media that fuel prices will go up next week.Energy and Power Development ...Published: 05 Apr 2019 at 17:30hrs | | by Staff reporter
Zimbabwe blocks US$1bn pipeline project
THE Ministry of Energy has blocked a plan by South African-owned Mining, Oil and Gas Services Company (MOGS) to construct a US$1 billion 550-kilometre fuel pipeline from Beira to Harare, arguing that ...Published: 22 Mar 2019 at 16:08hrs | 1 | by Staff reporter
Zimbabwe 'losing fuel' to forex-rich neighbours
Zimbabwe could be losing millions of litres of fuel to neighbouring countries under its bonded warehouse scheme because the government is failing to mobilise foreign currency to pay for the commodity ...Published: 15 Mar 2019 at 08:42hrs | | by Staff reporter
Zimbabwe Communist Party statement on Monetary Policy
The underlying position of the ZCP on any government policy declaration including this one is neither to automatically oppose nor to automatically endorse. Our task is to defend the interests of the w...Published: 21 Feb 2019 at 19:04hrs | | by ZCP
Zimbabwe fuel consumption rises 650%?
Daily consumption of both diesel and petrol in Zimbabwe rose by 342 percent and 650 percent respectively between April and October 2018, putting Government under huge pressure to provide adequate fore...Published: 12 Feb 2019 at 07:24hrs | | by Staff reporter
Zunaid Moti pursues SADC ventures
South African businessman Zunaid Moti says he looks forward to spearheading his business ventures in Zimbabwe, Botswana and the DRC after a five-month legal ordeal in Germany. This comes as th...Published: 31 Jan 2019 at 10:21hrs | | by Staff reporter
Mnangagwa's minister distances self from fuel crisis
Energy and Power Development minister Joram Gumbo yesterday said his ministry was doing its part bringing plenty of fuel into the country but government, through the Finance ministry, was failing to b...Published: 20 Jan 2019 at 09:45hrs | | by Staff reporter
Zimbabwe facing foreign currency shortages, not fuel, says Mnangagwa
News Editor Gift Phiri sits down for a wide-ranging interview with President Emmerson Mnangagwa's spokesperson George Charamba about the stuttering economy and what government is doing to address the ...Published: 13 Jan 2019 at 22:28hrs | 1 | by Staff reporter
Trafigura give Zimbabwe more time to pay for fuel
Zimbabwe has reached flexible payment arrangements with some fuel importers that will ensure it stabilises supplies amid a foreign-currency shortage that threatens economic growth.The governme...Published: 07 Jan 2019 at 09:07hrs | | by Bloomberg
Mnangagwa's govt mulls fuel rations
GOVERNMENT is mulling fuel rationing as the country reels from worsening shortages and growing queues in the middle of the festive season, an energy sector official has said.This comes as Rese...Published: 22 Dec 2018 at 19:09hrs | | by Staff reporter
Fuel rationing on the cards
GOVERNMENT is considering rationing fuel as a measure to curb fuel shortages following a 60% increase in demand for the liquid at a time the country is hard pressed for foreign currency to pay for fue...Published: 21 Dec 2018 at 07:06hrs | | by Staff reporter
Full list of amounts given to fuel companies by RBZ
The Reserve Bank of Zimbabwe Governor John Panonetsa Mangudya has released the below table which show how fuel funds are allocated to importers and the amount of fuel each importer brings into the cou...Published: 20 Dec 2018 at 17:39hrs | | by Mandla Ndlovu
Zimbabwe fuel shortages worsen
FUEL queues have re-emerged around the country with government attributing the development to erratic foreign currency allocations but insisting the country has enough stocks to last the next 18 month...Published: 24 Nov 2018 at 08:10hrs | 7 | by newzimbabwe
Fuel shortages resurface again
Government assured motorists yesterday that there were no shortages of fuel and urged them not to engage in panic buying after long queues built up at filling stations.Lengthy fuel queues were...Published: 22 Nov 2018 at 11:38hrs | 5 | by STaff reporter
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