The Zimbabwe Independent - The Leading Business Weekly

Let’s resist Mugabe dynasty: Gumbo

A GROUP calling itself the “original and real Zanu PF” comprising mostly of disgruntled Zanu PF members expelled, suspended or demoted before and after the party’s controversial congress last December says it will not form a new political party
US$100m liability collapses AfrAsia

AfrAsia Bank Zimbabwe closed on Tuesday after its shareholders retreated due to the bank’s huge liabilities of more than US$100 million, low capitalisation levels and a damaged reputation stemming from a costly legal wrangle.
Zanu PF ‘bedroom coup’ takes hold

WITH the way events are panning out in the fractious Zanu PF party, it is becoming increasingly clear President Robert Mugabe’s wife Grace is now not only in charge of the party as her husband grows older
Govt to revisit indigenisation: Mnangagwa

VICE-president Emmerson Mnangagwa says government is in the process of realigning indigenisation laws — widely deemed as a barrier to the much-needed foreign direct investment — as they currently lack clarity and consistency, among other shortcomings.
Potholes squeeze motorists on repairs

THE dismal state of Zimbabwe’s roads is costing motorists an average of US$1 000 a year on repairs due to damages caused by potholes prevalent on the roads, some which can easily be mistaken for craters, the Zimbabwe Independent has found out.

Green Fuel fails to deliver: Legislators

ETHANOL producer, Green Fuel has failed to justify its existence despite enjoying massive hand-holding from government in the form of a protected monopoly as well as laws requiring the mandatory blending of petrol with 15% ethanol, parliament has revealed.

Fees: UZ bars 2 500 students

THE University of Zimbabwe (UZ) has chucked out more than 2 500 students at the institution for failure to pay full tuition fees leaving the students stranded, Zimbabwe Independent has learnt.

Comment: Let’s learn from other countries

MINING consultancy, Core Consultants’ remarks this week Botswana remains a popular investment destination, specifically on the mining sector despite infrastructure challenges and global economic downturn, must be provide some sobering reflection in Harare.

The Ritesh Anand: Zimbabwe an awakening giant don’t be caught napping

Zimbabwe is “back in business” according to the Reserve Bank governor, John Mangudya. There are growing signs of optimism as investors flock to Zimbabwe in search of investment opportunities.

Politics

Let’s resist Mugabe dynasty: Gumbo

A GROUP calling itself the “original and real Zanu PF” comprising mostly of disgruntled Zanu PF members expelled, suspended or demoted before and after the party’s controversial congress last December says it will not form a new political party

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Zanu PF ‘bedroom coup’ takes hold

WITH the way events are panning out in the fractious Zanu PF party, it is becoming increasingly clear President Robert Mugabe’s wife Grace is now not only in charge of the party as her husband grows older

Govt to revisit indigenisation: Mnangagwa

VICE-president Emmerson Mnangagwa says government is in the process of realigning indigenisation laws — widely deemed as a barrier to the much-needed foreign direct investment — as they currently lack clarity and consistency, among other shortcomings.

MDC-T leaders fight over US$500 000

A FIGHT has erupted in the Morgan Tsvangirai-led MDC-T after the party treasurer Theresa Makone reportedly failed to account for US$500 000 disbursed to the party by government in October last year under the Political Parties Finance Act

Vendors in Catch-22 situation

THIRTY-FIVE-year-old Loveness Muchenje, one of the many street vendors who have swarmed the streets of Harare’s chaotic central business district (CBD) in search of means of survival, struggles to maintain the balance between aggressively marketing her wares lined up along a Julius Nyerere Way pavement to potential customers and keeping an eye on her three-year old daughter

Business

US$100m liability collapses AfrAsia

AfrAsia Bank Zimbabwe closed on Tuesday after its shareholders retreated due to the bank’s huge liabilities of more than US$100 million, low capitalisation levels and a damaged reputation stemming from a costly legal wrangle.

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CBZ Holdings posts US$33m profit

FINANCIAL services group CBZ Holdings has reported a 10% slump in after tax profit to US$33 million for the year ended December 2014

AfrAsia: From iconic bank to financial washout

AFRASIA Bank Zimbabwe on Tuesday surrendered its operating licence, marking the end of an iconic institution previously known as Kingdom Financial Holdings and a poster child of Zimbabwe’s liberalised financial services industry in the 1990s.

DPC to pay over 18 000 AfrAsia Bank depositors

THE Deposit Protection Corporation will soon pay in full 83% of the AfrAsia depositors affected by the bank’s closure by the RBZ on Tuesday, business digest has established.

Afrasia Bank mulls short working week

AFRASIA Bank Zimbabwe Ltd is mulling sending its workers on a two-week unpaid leave every month as it grapples viability problems.

Opinion

Editor’s memo: A dictator partying with cronies

FOR a change, I will not pillory President Robert Mugabe for his extravagant birthday bash in Victoria Falls tomorrow in a sea of man-made poverty and suffering in which he is the chief architect, but rather look into why he has failed during his protracted rule.

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Candid comment: Chiefs must stop being agents of electoral theft

THOUGH reprehensible, Vice-President Emmerson Mnangagwa’s outrageous utterances last weekend warning rural folk his party has devised a system where traditional leaders (chiefs), ward chairpersons and councillors would closely monitor them to ensure they voted for Zanu PF candidates

Financial matters: Dollarisation: Our point of no return?

THIS month marks six years since Zimbabwe adopted the multi-currency monetary system, popularly referred to as dollarisation, in response to the chaotic hyperinflationary period that had defined the country’s economy for almost a decade prior to February 2009.

Muckraker: ‘Gushing’ stampede by non-performers

February 21 in Zimbabwe is invariably a period of distasteful “gushing”, mainly by non-performing parastatals that want to get noticed.

Gukurahundi: Bloodshed and Cold War dynamics

This article examines the role of diplomatic relations during the first stages of the 1983 Gukurahundi in Zimbabwe.

Sport

Cause for optimism ahead of World Cup

While Zimbabwe cricket fans will be compelled to drag themselves out of bed at ungodly hours to watch the ICC 2015 World Cup finals co-hosted by New Zealand and Australia, […]

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Can Zimbabwe brew another WC shocker?

FINAL warm up matches for Zimbabwe and South Africa triggered debate on whether they gave insight into what can be expected of the two nations at the ICC World Cup.

Dube’s fate in PSL hands

Former Zifa chairman Leo Mugabe has said that the fate of current Zifa president Cuthbert Dube lies in the hands of Premier Soccer League (PSL) clubs.

Whatmore to thrive on team’s hunger

Zimbabwe national cricket team coach, Dave Whatmore has said that, the players who travelled to New Zealand and Australia are sick and tired of losing and want to emerge proud heroes from this World Cup.