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Monday, December 9, 2019

Business

Mail and Telegraph Business News

Harare - The arrest of senior Zimbabwe Electricity Supply Authority ( Zesa) Holdings executives on corruption charges last week has opened a pandora box amid reports of massive rot running into millions of dollars, gross abuse of office and failure to follow corporate governance procedure in the issuing of tenders,...
Zimbabwe should brace itself for a new currency within the next month, the Mail and Telegraph has learnt. Sources close to the developments say the currency was already printed in March last year and is being kept safely at the vaults by the  Central...
Staff Reporter CFI Holdings is allegedly  making huge profits through fleecing  home-seekers in Harare South’s Saturday Retreat residential area (popularly known as Ushewekunze), the Mail and Telegraph has learnt. The company is reportedly charging unjustified “penalties” for late payments on residents in complete negation of an agreement that was reached between...
By Fungayi Chimbindi Hundreds of car importers were stranded at the country’s border posts on Friday  after the Zimbabwe Revenue Authority (ZIMRA) implemented forex customs imposed on motor vehicles forthwith. Finance and Economic Development Minister Mthuli Ncube announced the policy on Thursday and stated that although it was effective on Friday,...
Harare - Tensions, accusations and counter accusations have rocked Zimbabwe’s biggest coal miner amid reports of corporate governance deficit, clash of cultures, egoes and massive corruption between the Hwange Colliery Company Limited (HCCL) board and its management. Investigations reveal that the accusations have clouded development resulting in questions being raised whether...
Margaret Matibiri Controversial Harare businessman and socialite Genius Kadungure who is popularly known as Ginimbi will spend the weekend in police custody on allegations of prejudicing Zimbabwe Revenue Authority (ZIMRA) of over $3 million in tax. Allegations are that ZIMRA conducted lifestyle audits on socialites as the lives they were leading...
Harare city council is set to construct a new  state of the art stadium so as to meet the demands of the city. In an interview, Harare City Council Housing Director Addmore Nhekairo said the city had set aside $1, 4 000 000 for the project. “Currently we have five stadiums that we...
Harare - The trial for the controversial businessmen, Wicknell Chivayo and Genius Kadungure who are being charged for allegedly defrauding two local businessmen about six years ago has commenced. The two are facing fraud charges to the effect that sometime in November 2012 Chivayo connived with Kadungure to create a fictitious...
Harare - Botswana has extended a 1 billion pula loan facility to Zimbabwe as the country seeks to help Zimbabwe in solving its financial crisis. Botswana and Zimbabwe also signed a six Memoranda of Understanding. Addressing delegates at the Zimbabwe Botswana Bi-National Commission, Botswana President Mokgwetsi Masisi said Botswana increased the loan...
Former president Robert Mugabe’s son-in-law Simba Chikore has been arrested and facing corruption charges related to the Zimbabwe Airways deal, unlawful detention and kidnapping one of his employee. He was arrested on Monday night at the Robert Mugabe International Airport. Police sources say Chikore is facing kidnapping charges and unlawful...
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