Strive Masiyiwa’s Econet donates RTGS$5 million towards Cyclone victims

Strive Masiyiwa’s Econet donates RTGS$5 million towards Cyclone victims 1

By Business Reporter STRIVE Masiyiwa’s Econet Zimbabwe and its subsidiary companies have extended a RTGS$5 million assistance for victims of the deadly Cyclone Idai in Manicaland. The fund will be disbursed through Higher Life Foundation, a charity organisation founded by Tsitsi Masiyiwa, wife to the tycoon, to assist the under-privileged. The foundation’s chief executive, Doctor Kennedy Mubaiwa said the organisation is currently mobilising resources in the form of rescue efforts, medical emergency aid, food, water and blankets for the victims. Econet Wireless Zimbabwe Chief Executive, Douglas Mboweni said each company,…

Read More

ZIMRA workers blast ‘arrogant’ new board chair Jokonya

ZIMRA workers blast ‘arrogant’ new board chair Jokonya 3

By Alois Vinga ZIMBABWE Revenue Authority and Allied Workers Trade Union (ZIMRATU) employees have registered dissatisfaction over the newly appointed board chairperson, Callisto Jokonya for allegedly describing all staffers as corrupt, using provocative language and usurping management functions. In a statement released Tuesday, ZIMRATU described Jokonya as “lacking leadership qualities” and not experienced enough to handle the taxman’s critical issues. “We are worried by Jokonya’s wanton attacks on collective bargaining processes whereby he threatened not to review workers’ salaries until they rid themselves of corruption and direct attacks on individuals…

Read More

New ZESA board appointed, tasked to end corruption in the parastatal

New ZESA board appointed, tasked to end corruption in the parastatal 5

By Alois Vinga ENERGY Minister, Joram Gumbo Tuesday unveiled a new seven-member ZESA management board which has been tasked to end corruption in the state enterprise and implement the recently completed forensic audit recommendations, among other functions. Announcing the appointments Monday afternoon, Gumbo said the occasion had come at an opportune time when ZESA Group of Companies is being re-bundled into a single entity. “I am therefore pleased to announce the appointment of Collins Chihuri who will chair the board,Benson Munyaradzi, Jacqueline Sande, Trust Chifamba, Hussien Omar, Catherine Befura and…

Read More

Cyclone disrupts wheat transportation from Beira – GMAZ boss

Cyclone disrupts wheat transportation from Beira – GMAZ boss 7

By Anna Chibamu GRAIN Millers Association of Zimbabwe (GMAZ) chairman, Tafadzwa Musarara says the recent Cyclone Idai which battered parts of Mozambique and Zimbabwe’s eastern region has disrupted the transporation of wheat from the Mozambican port city of Beira. Under the current wheat shortages caused by the forex crunch however, Musarara said, his organisation has been able to supply up to 50 percent wheat demand by local bakers.This is contrary to claims the millers representative group entrusted with public funds was doing little to ease recurrent shortages of the staple…

Read More

Africa’s richest woman to be ousted at Angola telecoms company

Africa’s richest woman to be ousted at Angola telecoms company 9

Fin24 Africa’s richest woman is set to be ousted from the helm of Angola’s biggest telecommunications company as shareholders meet Tuesday to discuss corporate governance in the wake of legal action by one of its biggest investors. The meeting at Unitel SA, whose chairwoman Isabel dos Santos owns 25%, comes after an arbitration court ruled that Brazilian telecommunications company Oi SA was entitled to receive $654 million from other Unitel shareholders because they violated several clauses of the company’s shareholders’ agreement and failed to pay dividends to Oi. Shareholders with…

Read More

IDBZ to scale up capital base to US$1 billion through partial privatisation

IDBZ to scale up capital base to US$1 billion through partial privatisation 11

17th March 2019 Business, Companies By Alois Vinga THE Infrastructure Development Bank of Zimbabwe (IDBZ) has embarked on medium term recapitalisation programme targeting US$1 billion through partial privatisation in a development that will see the bank being capacitated to undertake demanding projects. A notice published in a recent Government Gazette says that the IDBZ is targeting a US$500 million in the short to medium term and US$1 billion in the long term. The bank is also working towards bringing on board strategic investors who are aligned to its developmental mandate…

Read More

NRZ introduces new routes to boost revenue

NRZ introduces new routes to boost revenue 12

By Alois Vinga ZIMBABWE’S loss making rail transporter, National Railways of Zimbabwe (NRZ) will soon launch new routes in a development aimed at generating more revenue for the parastatal. This was revealed by company press officer, Nyasha Maravanyika while briefing guests at the Zimbabwe Infrastructure Summit in Harare on Wednesday. Maravanyika said that new trade routes will help the struggling entity improve on efficiency and revenue generation. “We have a number of projected new routes, one of which intends to cut the distance from Hwange to Harare by avoiding passing…

Read More

ILO, Sweden fund 27 environmentally friendly Zim businesses

ILO, Sweden fund 27 environmentally friendly Zim businesses 14

By Alois Vinga THE International Labour Organisation (ILO), in partnership with the Swedish government, has committed to supporting the best 27 environmentally friendly Zimbabwean business project proposals which were selected through a rigorous adjudication process under the Green Enterprise Innovation project. The 27 were selected out of over 90 submitted project proposals by participants from the country’s ten provinces. Speaking to NewZimbabwe.com Business on the sidelines of a ceremony held to award the successful participants, Matte Sunnergren, an official with the embassy, said her government had availed funds to support…

Read More

Zimchem customers to bring own raw material as forex shortages persist

Zimchem customers to bring own raw material as forex shortages persist 16

By Kwekwe Correspondent STRUGGLING chemical manufacturer, Zimchem could soon start asking customers to bring their own raw material for processing as it battles recurrent shortages which are threatening the firm’s viability. This was revealed by Acting General Manager Tendai Shoko in a recent interview with NewZimbabwe.com. Shoko said the firm would soon require potential customers in construction and timber making to bring their own raw materials for production. “We are yet to implement the idea but proposals to have customers to bring their own raw materials have been suggested. We…

Read More

Monica Chinamasa TIMB board in corruption storm

Monica Chinamasa TIMB board in corruption storm 18

By Alois Vinga PARLIAMENT’S lands and agriculture committee has ordered the Tobacco Industry Marketing Board (TIMB) managers to submit financial statements amid claims of corruption against the Monica Chinamasa chaired board. Committee chair, Justice Mayor Wadyejena Tuesday ordered TIMB chief executive, Andrew Matibiri to submit the entity’s financial statements dating back to 2015, with clear details outlining the total collected through the tobacco levy and how it was used. The board was also ordered to submit documentary evidence showing how much was spent on the construction of the TIMB headquarters…

Read More