HARARE – Econet Wireless Zimbabwe Limited (Econet) has injected $50 million into TN Bank Limited (TN Bank) towards recapitalisation of the banking arm, businessdaily heard this week. This comes as the telecommunications company’s founder Strive Masiyiwa in March said TN Bank will be repositioned and rebranded in a year’s time. “Yes… Econet poured in $50…
HARARE – The MDC announced at the weekend that it will pay reparations for victims of Gukurahundi, Murambatsvina and other episodes of violence if it assumes power. It is a noble proposition to compensate victims of widespread and systematic crimes. Genocide, crimes against humanity and war crimes, which fall into these categories, are held as…
HARARE – After more than three years in the line of fire, Zanu PF’s Constitutional Select Committee co-chairperson Munyaradzi Paul Mangwana, who endured abuse from his colleagues in the ruling party particularly from serial political flip-flopper Jonathan Moyo, feels vindicated. At a time Zimbabweans, including President Robert Mugabe and Prime Minister Morgan Tsvangirai, are celebrating…
HARARE – Zimbabwe’s financial institutions continue to defy the central bank’s directive to cap lending rates at 12,5 percent. In January, the Reserve Bank of Zimbabwe (RBZ) signed a memorandum of understanding (MoU) with banks — through the Bankers Association of Zimbabwe (Baz) — with the institutions agreeing to reduce lending rates and pay interest…
HARARE – President Robert Mugabe yesterday signed Constitution Amendment Bill Number 20 into law, setting the stage for a gruelling election with coalition partner Prime Minister Morgan Tsvangirai. After signing the new constitution, Mugabe took a dig at the regional grouping Sadc for trying to control Zimbabwe’s political processes. Sadc, which is the guarantor of…
HARARE – Ex-communicated and disgraced former Anglican clergyman, Nolbert Kunonga, is gone but there is a visible reminder of the chaos his disputed leadership caused within this organisation. The Supreme Court brought to an end a bitter feud between Kunonga and Chad Gandhiya over the properties following a splinter of the church caused by a…
HARARE – Government is considering partnering the Chinese in setting up a diamond cutting and polishing centre in Zimbabwe. Christopher Mutsvangwa, Minerals Marketing Corporation of Zimbabwe (MMCZ) chairperson, told businessdaily that diamond experts from the Asian country were expected in the country this week to assess and assist in the setting up of the venture…
HARARE – The power-sharing Global Political Agreement (GPA), which was signed in September 2008, stipulated work to be completed during the life of the inclusive government to prepare Zimbabwe for free and fair elections which Sadc could endorse. (Sadc would not endorse the 2008 presidential elections as free and fair, which led to negotiations for…
HARARE – Embattled Art Corporation (Art) says it expects to conclude negotiations with a new investor, reportedly South Africa (SA)-based First National Battery, before year end. The group’s chairperson Passmore Matupire said the deal, aimed at increasing the company’s battery-making subsidiaries Chloride Zimbabwe (Chloride) and Battery Express (BE)’s capacity and has been the subject of…
HARARE – Following a chaotic mobile voter registration exercise, the Zimbabwe Electoral Commission (Zec), has introduced new regulations that will see the public buying the voters’ roll for as little as $5. The amendments, contained in an extraordinary government gazette, also provide for a new affidavit that will allow thousands of people who had been…
