Exchange Rate: RBZ chief says guilty as charged on robbing exporters

Exchange Rate: RBZ chief says guilty as charged on robbing exporters 1

By Fin24.com CENTRAL bank governor Dr John Mangudya has admitted prejudicing the country’s exporters by exchanging their US dollar earnings at parity with the local bond note, when rates on the parallel market were at a 400% premium. Since the southern African country introduced its local surrogacy currency, the bond note, in 2016, it had pegged it at a ratio of 1:1 with the US dollar, but this did not last for long, as foreign currency shortages on the formal market resulted in parallel market rates spiralling to unsustainable levels.…

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Billiat Keen To End Season On High Note

Billiat Keen To End Season On High Note 3

Farai Dziva|Kaizer Chiefs winger Khama Billiat believes he could still end the season on a high note. The Zimbabwean forward has been blowing hot and cold and has failed to reach top form since joining the club in the pre-season from Mamelodi Sundowns. Billiat is optimistic that things can still get better before the campaign ends. “I’ve been happy, and there’s always room for improvement, but let’s wait until the end of the season, and we’ll see – maybe I’ll be more satisfied than ever before,” he said. The team…

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Solskjaer summons spirit of Ferguson for Liverpool clash

Solskjaer summons spirit of Ferguson for Liverpool clash 6

By AFP Ole Gunnar Solskjaer has joked that he might invite Alex Ferguson to deliver Manchester United’s team talk before their eagerly awaited Premier League meeting with Liverpool. The legendary former United manager has acted as Solskjaer’s mentor since the Norwegian took over as the club’s interim boss in December. Solskjaer’s impressive success in the role has made the visit of bitter rivals Liverpool to Old Trafford on Sunday an even bigger confrontation than might have been expected earlier in the season when United were struggling to find their form.…

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State to abandon Grace Mugabe sister’s fraud trial

State to abandon Grace Mugabe sister’s fraud trial 8

By Mary Taruvinga FRAUD accused Shuvai Gumbochuma, sister to former First Lady Grace Mugabe, may find herself escaping trial after prosecutors on Friday hinted they could withdraw her charges. She faces three counts of fraud after she allegedly used her connections to then Local Government Minister Saviour Kasukuwere to illegally acquire a vast piece of State land which she later resold at an inflated price. Kasukuwere also faces criminal abuse of office charges related to the case. Gumbochuma’s alleged offence occurred during former President Robert Mugabe’s rule. Representing the state,…

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Chelsea banned from signing new players for next two transfer windows

Chelsea banned from signing new players for next two transfer windows 10

By AFP Premier League club Chelsea have been banned from signing new players in the next two transfer windows as punishment for breaking rules on registering under-age players, FIFA said on Friday. It means the club — who immediately said they would appeal the decision — will be unable to make signings until the end of January next year. “The disciplinary committee sanctioned Chelsea with a ban on registering new players at both national and international level for the next two complete and consecutive registration periods,” FIFA said in a…

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Pastor Launches #Make Zimbabwe Proud Again Dialogue Initiative

Pastor Launches #Make Zimbabwe Proud Again Dialogue Initiative 12

Farai Dziva|Masvingo based clergyman, Pastor Isaac Makomichi has launched a programme code named #Make Zimbabwe Proud Again Dialogue Initiative to bring the main political players in the country to the negotiating table. Makomichi launched the programme under the Zimbabwe Vulnerable Youth Support Network Trust and he is the president of the organisation. “I have launched the Make Zimbabwe Proud Again Dialogue initiative with the hope of bringing the country’ s main political players to the negotiating table. I am in the process of liaising with key individuals who will coordinate…

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Business forum ‘The Shift’ set for London launch; AAG president to keynote

Business forum ‘The Shift’ set for London launch; AAG president to keynote 15

By Tidi Kwidini LONDON: Affirmative Action Group (AAG) president, Dr Chamu Chiwanza, is scheduled to keynote at the launch of The Shift UK, a business enterprise scheme that brings together corporate leaders to discuss key issues affecting the African continent. The Shift was established over five years ago by Dr Chiwanza, who is the patron, as well as businessman, Custon Dzinoreva. The Zimbabwe-based entrepreneurs saw a gap in the market to mentor, support, develop and help transform the lives of young men and women seeking to go into business. Farai…

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‘Madhuku’ Acquitted

‘Madhuku’ Acquitted 17

The Harare Magistrates Court on Friday 22 February 2019 acquitted Denford Ngadziore popularly known as ‘Madhuku’, a Councillor for Harare City Council, who had been on trial after he was arrested and charged with committing public violence. Ngadziore, the Councilor for Ward 16 in Harare’s Mabelreign suburb wasarrested on 16 February 2019 by Zimbabwe Republic Police (ZRP)officers and charged with inciting public violence as defined insection 187 and committing public violence in contravention of section36(1)(a) of the Criminal Law (Codification and Reform) Act. During trial, prosecutors alleged that Ngadziore, who…

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Maimane awaits reply from Mnangagwa over human rights abuses

Maimane awaits reply from Mnangagwa over human rights abuses 19

22nd February 2019 Zimbabwe By African News Agency THREE weeks after the Democratic Alliance (DA) leader, Mmusi Maimane threatened to travel to Zimbabwe he is still to receive a response for a request to meet with that country’s President, Emmerson Mnangagwa. Maimane visited the Zimbabwe embassy in Pretoria on 31 January to push for dialogue with Harare authorities over massive human rights abuses blamed on security forces during the recent crackdown on protests. He also threatened to take the matter to the ICC.   During the brutal clampdown on the…

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RBZ says exchange rate to strengthen as peg abandoned

RBZ says exchange rate to strengthen as peg abandoned 20

By Bloomberg News THE government expects the exchange rate of what is in effect a new currency to strengthen from its current black market level when it starts trading. The political opposition isn’t so sure. On Wednesday, central bank Governor John Mangudya said the government will no longer insist that quasi-currencies known as bond notes and RTGS dollars, an electronic equivalent, are worth the same as real US dollars. They will be merged and allowed to trade freely in an inter-bank market. Those instruments were trading at between 3.66 and…

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