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ZESA woes reprieve as ZETDC secures $150m fund

CAIRO headquartered trade finance institution; African Export- Import Bank (Afreximbank) has extended US$150 million to the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) to settle its outstanding debts. The development comes at a time when ZETDC, a subsidiary of ZESA Holdings is saddled by US$373,8 million debt , which it has not been servicing. Efforts to get a comment from ...

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Zimbabwe Fashion Week UK debut show: Post event

The weekend, while America celebrated their independence Day, The Zimbabwe Fashion Week UK debuted is Britain’s second biggest city Birmingham.  Founded by Chiedza Dawn Ziyambe who herself is a passionate fashion creative, running a lingerie line, Miss Chii Lingerie which did not disappoint on the runway. The show was hosted by the multi-award winner radio and television presenter Kevin Ncube alongside ...

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Bondcoins worthless just like the US Dollar!

I know most of you may be tempted to concur with me on the worthless of bond coins, but as for the US dollars you are probably thinking ‘what is this guy saying? ‘Anyway brace yourself for a brief history lesson by the end of this you will understand why i have espoused the above remarks. Before money was invented ...

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RBZ unveils new coins to be operational December 18

THE new Zimbabwe coins were unveiled by the central bank, but will only start circulating in the country on December 18 2014. Reserve Bank of Zimbabwe governor John Mangudya said the country will receive $10 million worth of bond coins between now and March which translate to 2% of total banking deposits. Speaking at the unveiling of the coins yesterday, ...

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Civil Aviation Authority of Zimbabwe (CAAZ) bills AirZim passengers directly

THE Civil Aviation Authority of Zimbabwe (Caaz) has resolved to collect service charges directly from passengers on Air Zimbabwe (AirZim) flights after being frustrated by the national carrier’s constant failure to remit the money after collection as it is reportedly now amounting to over US$1 million in arrears. “The passenger service charge (PSC) and Aviation Infrastructure Development Fund (Aidef) are ...

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Steward Bank loses $300k to robbers

It is understood that a group of robbers pounced at the bank along Main Street in Gweru on Thursday night and broke into the banking hall where they allegedly broke the safe and stole more than $300,000. The Officer Commanding Midlands, Senior Assistant Commissioner Shadreck Mubaiwa confirmed the robbery but could not give further details. “We received a report that ...

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Music Diva Cindy Munyavi ventures into Fashion Retail

by Matty Mabvudzi Cindy Rufaro Munyavi, no stranger to unique and exclusive fashion on most of her set and features has broken the norm of artists and celebrities relying on third party designer sponsorship or privately engaged stylists. Cindy opens a trendy Fashion Boutique this morning. Cindy’s Fashion Corner caters for all round ladies fashion from designer clothes, shoes to ...

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Enrico Sibanda - A Truckload of "fake" honours

Enrico Sibanda – Pulling wool on the faces of the elite

Reuters ZIMBABWE Council for Higher Education (Zimche) has said the institution that conferred honorary doctorate degrees to music maestro Oliver Mtukudzi and nine other prominent Zimbabweans was neither registered nor affiliated to any university. Zimbabwe Revenue Authority commissioner-general Gershem Pasi, one of the purported beneficiaries of the honorary degrees by the International Institute of Philanthropy (IIP),  yesterday said he had ...

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FDI could rise to $1bn on Essar deal

THE Zimbabwe Investment Authority seeks to attract $2 billion Foreign Direct Investment per annum, with the authority expecting $1 billion flows this year if the long-standing Essar deal becomes operational, its chairman said. This was after the United Nations Conference on Trade and Development showed that Zimbabwe’s foreign direct investment in 2013 was near flat at $400 million and 19,3 ...

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