HARARE – A Ponzi scheme has duped over 2 000 investors, mainly civil servants, of more than $100 000, the Daily News can reveal. Lucky Butau, Nobuhle Butau, Angela Butau, Dumisani Butau and Jesca Maginya based in Gweru are accused of having swindled investors in the elaborate Ponzi scheme claiming they were genuine businesspeople. Investors,…
HARARE – Zimbabwean banks are seeing their profits skyrocket despite the tough operating environment, making more money from trading and mostly electronic transactions, financial research firm Equity Axis has said. CBZ, Barclays, NMB, ZB and Agribank — the only banks that have released their trading updates during their annual general meetings — have all registered…
HARARE – Zimbabwe’s tax agency Zimra has said it exceeded its 2017 second quarter revenue target by over 9 percent, as the economic outlook became positive, buoyed by the good agricultural season and a battery of measures to stimulate investment, exports and production. Zimra chairperson Willia Bonyongwe said in a statement the agency collected $926,96…
HARARE – The president of Urban Councils Association of Zimbabwe (Ucaz) Bernard Manyenyeni has proposed handing over water bills collection to Zesa Holdings, a plan that has been slammed by the Combined Harare Residents Association (Chra). The Harare mayor said if the proposal is okayed by government, it would boost all cities and towns’ revenue…
HARARE – As the conflict between Tourism and Hospitality Industry minister Walter Mzembi and Zimbabwe Tourism Authority (ZTA) chief executive officer Karikoga Kaseke escalates, the ZTA boss said yesterday he is seeking legal opinion whether to refer their dispute to the courts. This comes after Kaseke sparked censure from the minister after unilaterally attempting to…
HARARE – The Constitutional Court (Con-Court) has dismissed an appeal by a serial litigant calling for a referendum to decide whether to allow the United Nations (UN) to monitor the country’s 2018 elections or not. Ignatius Masamba — an aspiring presidential candidate in next year’s elections — approached the Con-Court after his application was thrown…
HARARE – Primary and Secondary Education minister Lazarus Dokora is set to be admonished by senators after being accused of being in contempt of Parliament over evidence he gave about schools having to transfer fees into a government account. MDC senator Tholakele Khumalo recommended that senators should “formally admonish” Dokora for giving misleading evidence after…
HARARE – On Wednesday, Reserve Bank of Zimbabwe governor John Mangudya said that the stubborn bank queues — growing longer by the day — were a mere symptom of a bigger problem. Simply put, the central bank chief, who was addressing a business symposium at the University of Zimbabwe, admitted that the deepening cash crisis…
HARARE – Reserve Bank of Zimbabwe (RBZ) governor John Mangudya yesterday said the current cash crisis is a symptom of a broken economy. “People are asking the wrong questions, it’s not about the currency but about the economy which is not performing,” he said. This comes as government is struggling with a cash crunch that…
HARARE – Charles Maurice de Talleyrand’s remarks on the behaviour of the Bourbon monarchy after their restoration following their ouster during the French Revolution seem to aptly apply to opposition politics in Zimbabwe. Talleyrand is famously quoted after the first fall of Napoleon Bonaparte in 1814 and restoration of the French monarchy under Louis XVIII….
