Business News

Ian Smith’s Zim Independence Mystery | Did You Know?

Published: April 15, 2014

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Did you know? – That the same day colonial Prime Minister Ian Smith was made premier of Rhodesia 1964,  falls in the very same week that Zimbabwe finally received its independence in 1980? And that very same week is the week our feet are in right now exactly half a century later? Ian Smith became […]

Masiyiwa in Africa’s Top 10 Donors’ List

Published: April 12, 2014

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NEW YORK – An estimated US$7 billion is given away every year by Africa’s philanthrocapitalists – at least the ones we know about. These are the men (sadly no women yet on this list) providing home-grown solutions to local needs. Francois van Niekerk, South Africa – The founder of Mertech Group gave 70 percent of […]

Econet Wireless Stock Exchange Victory

Published: April 11, 2014

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Strive Masiyiwa|How We Raised the Money (Part 3). (read more) The potential investor, looked me in the eye, and said, “Your numbers are totally unrealistic; we have never seen an operator with such high subscriber growth projections….”. Then added, with disbelief, “either you do not know what you are doing, or you are doing something […]

Neither Dice nor Bribe: Econet Wireless’ 1998 Stock Exchange Breakthrough

Published: April 9, 2014

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Africa’s most iconic business inspiron, Econet Wireless Founder Strive Masiyiwa has narrated how his company managed to breakthrough a barrier that has hindered most businesses from being listed on the Stock Exchange since Rhodesian times. When Econet was finally handed an operating license in 1998, the company was faced with another hurdle after the five […]

Man Caught Raping 13 Year Old

Published: April 3, 2014

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Vic Falls – A 22-YEAR-OLD MAN was caught having sex with a 13 year old girl. Clifford Chuma of Mkhosana high-density suburb was caught by neighbours forcing his body into the innocent minor (name withheld). He was arrested shortly afterwards after medical tests on the child linked to the alleged act. Chuma was yesterday dragged […]

Obert Mpofu’s Bank Promises Miracle Return

Published: April 1, 2014

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TROUBLED Allied Bank is pinning its survival hopes on the implementation of the government economic blueprint, Zimbabwe Agenda for Sustainable Socioeconomic Transformation (ZimAsset) and further easing of economic sanctions declaring that is will emerge as a strong player in the market. The bank said it is eyeing profitability by year end and has appointed specialists […]

Mliswa Caught in Another Scandal

Published: April 1, 2014

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SALTLAKES Holdings — a company linked to Hurungwe West legislator Cde Temba Mliswa — is being sued at the High Court for US$94 272 by Bak Storage (Pvt) Ltd over unpaid storage fees for bales of tobacco that were warehoused at the company. In a dramatic battle, Saltlakes sued Bak Storage for US$2 million in […]

Masvingo Council Blows $700,000 On Hired Vehicles

Published: March 26, 2014

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Masvingo City Council has over the past 17 months spent nearly US$700 000 on hiring vehicles for senior managers and for day-to-day operations because its entire fleet was attached by the Messenger of Court in 2012. Forty-three council vehicles including the mayoral Mercedes-Benz, front-end loaders, tippers and other assets were attached after Masvingo City lost […]

RBZ Govenor’s PhD is Worthless – REPORT

Published: March 25, 2014

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Newsday Reporter| NEWLY-APPOINTED Reserve Bank of Zimbabwe (RBZ) governor John Mangudya reportedly attained his PhD in Business Administration from an unaccredited institution of higher learning, Washington International University (WIU), it has emerged. According to information at hand, Mangudya is a holder of several qualifications that make him fit for the central bank position, but it […]

Rautenbach’s Ambition to Produce an Ocean of Petrol in Dry Lowveld

Published: March 23, 2014

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The MDC-T party is furious after latest developments in Billy Rautenbach’s controversial Chisumbanje ethanol project suggested the investment to be more of an ambitious experiment than it is a business-worth. The party which was last year blamed for allegedly stalling the project’s “success,” expressed outrage when it was finally revealed that  Rautenbach is shutting down […]

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