HARARE – Struggling PG Industries Zimbabwe Limited (PG) plans to convert a total $7,1 million debentures into equity. The group said the conversion, at a price of $0,001, will include accrued and unpaid interest. The $7,1 million comprises $6,72 million capital and $415 681 interest. “In accordance with the scheme of arrangement proposed by PG…
HARARE – The Zimbabwe National Roads Administration (Zinara) is amenable to the idea of partnering other funding organisations in the development of key soft and hard infrastructure at border points, including Beitbridge. This comes as the African Road Maintenance Funds Association (ARMFA) president Anthony Mwanaumo has said funding remains a challenge for many of his…
HARARE – It’s not that I am particularly against the 91-year-old Robert Mugabe as the leader of this country. It’s just that we ought to adjust our minds to a younger, 21st Century leader, if we are to “march with the times”. Most people of my age — I’ll be 78 in May — always…
HARARE – Reserve Bank of Zimbabwe (RBZ) governor John Mangudya must be applauded for his stance on a moratorium on the civil sector pay, given the state of our economy. This also comes as his Finance ministry boss Patrick Chinamasa has echoed the same sentiments about the need to curb these demands, which have been…
NEW YORK – I am a proud Zimbabwean who is offended by being called an African. “I am not African; I am Zimbabwean,” I majestically declare chest puffed intoxicated by arrogance. After all I am on a crusade to stop non-Africans from thinking Africa is a country. My analogy of choice is Canada and the…
HARARE – The fallout within government and Zanu PF circles over President Robert Mugabe’s mortifying tumble at the Harare International Airport last week is apparently escalating. Sources told the Daily News yesterday that official consternation over the matter was now focused on the source of the leaks of the damaging pictures and videos of the…
HARARE – President Robert Mugabe yesterday warned Zanu PF members against taking internal party grievances to court, a top official said. Simon Khaya Moyo, Zanu PF spokesperson, told a news conference last night after a Zanu PF politburo meeting that the nonagenarian had opened the meeting with a very clear message that every member of…
HARARE – The government has set aside $20 million towards the demonetisation of long dead Zimdollar accounts, with a maximum once-off payment of a paltry $5 per each account holder. Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said in his monetary policy statement yesterday that the then prevailing United Nations (UN) exchange rate would…
HARARE – An HIV-positive nurse who was relieved of her duties by St Anne’s Hospital for failure to disclose her health condition has challenged the dismissal as unconstitutional. The woman, whose name has been withheld for professional reasons, said the forced disclosure of her health status was a violation of her constitutional right to privacy…
HARARE – African Century Leasing, a company involved in lending to Zimbabwean businesses, has been implicated in a scandal in which its clients are accusing it of rigging interest rates to maximise their profits. Stan Matiza, the managing director of African Century Leasing (African Century), a registered Harare-based leasing company based at 153 Josiah Chinamano…
