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CBZ unveils $10m SMEs facility

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HARARE – Zimbabwe’s largest financial services group by asset base, CBZ Holdings (CBZ), has unveiled a $10 million facility to stimulate and support growth in the small-to-medium enterprises (SMEs) and micro finance sectors. Its chief executive, Never Nyemudzo, told businessdaily yesterday that the fund — to be administered by CBZ’s recently established Business Banking Division…

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Churches must impart good morals

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EDITOR — Please allow me through your paper to express my sincere gratitude to the AFM Church in Zimbabwe for successfully holding their centenary celebrations. In a world that has given in to poverty, war, hate, adultery, homosexuality, crime and violence, the church has stood as the only source of hope for many often providing…

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Water disconnections are not the only option

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HARARE – Local authorities all over Zimbabwe, which have threatened to continue massive water disconnections to non-paying households, must first put their houses in order by improving deliveries and establishing credible billing systems before cutting people off. Most local authorities claim that consumers have not been paying their bills though their previous balances were scrapped…

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Mugabe panics

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HARARE – Faced with the twin threats of a collapsing economy and mass unrests, President Robert Mugabe is being forced by the dire economic situation in the country to embark on a cocktail of reforms of Zimbabwe’s “medieval” investment terrain, in a desperate bid to stimulate both local and foreign direct investment. This comes as…

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Minister indicted for corruption

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HARARE – Minister of State for Mashonaland Central Martin Dinha charged with bribery, abuse of power and corruption, was indicted by a court in Bindura yesterday. The decision paves the way for a trial in the High Court which is likely to be held in October. Yesterday’s indictment described Dinha’s alleged crimes, including allegedly soliciting…

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Msipa resigns as Zeppdra patron

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HARARE – Cephas Msipa has announced he is stepping down as patron of the Zimbabwe Ex-Political Prisoners, Detainees and Restrictees Association (Zeppdra) saying he no longer had the mental or physical strength to carry out the job. The retired and hugely-respected Zanu PF elder, 84, said he had noticed that his strength had deteriorated over…

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US gives Zim $95m for Aids drugs

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HARARE – The United States is to give Zimbabwe $95 million to support the free distribution of Aids drugs following “significant progress” in Harare’s efforts to fight the pandemic. The annual funds will be channelled through the US President’s Emergency Fund for Aids Relief (Pepfar), a statement said yesterday. Some 700 000 people receive free…

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SA tops Africa millionaires list

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JOHANNESBURG – South Africa has the highest number of dollar millionaires in Africa, according to a new report. According to a report by AfrAsia Bank and New World Wealth, Johannesburg alone, known as the “city of gold”, is home to 23,400 millionaires. South Africa has 30% of the total. Egypt’s Cairo comes second with 10,200,…

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Guatemala’s President resigns

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GUATEMALA CITY – Guatemalan President Otto Perez Molina has resigned hours after a judge issued a warrant for his arrest. Prosecutors accuse Mr Perez Molina of masterminding a scheme to defraud the customs service of millions of dollars. He denies the allegations. On Tuesday, Congress stripped him of his immunity from prosecution, a first in…

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Chitembwe bounces back

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HARARE – While ardent followers of the English premiership were busy monitoring activities on the final day of transfers, here, CAPS United were making changes to their technical team. Under-fire coach — Mark Mathe — who had been the subject of fierce ridicule from the club’s faithful was yesterday demoted to assistant coach, paving way…

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