Thursday, December 01

Financial News

April 22, 2022

UAE Tycoon To Invest US$1Billion In Zim Signs Deal With President Mnangagwa Zimbabweans Lives Will Improve Forever

PRESIDENT Emmerson Mnangagwa’s administration has approved the setup of US$1 billion worth projects by the United Arab Emirates (UAE) headquartered conglomerate, MULK Holdings F.Z.C in a development signifying a huge score following years of consistent reengagement efforts. Details of the lucrative deals are contained in a letter addressed to Mnangagwa dated April 19, 2022 written by the company’s chairperson, Shaji  Mulk.     360p geselecteerd als afspeelkwaliteit Mulk was brought into the country by Dubai-based Zimbabwean businessman Tempter Tungwarara. “We sincerely thank you for the wonderful support accorded by you during my current visit to Zimbabwe and all the projects awarded by you to Mulk Holdings international FZC,” the le

January 16, 2022

Scott Kupa’s Better Brands Jewellery delivers Seven Tonnes Of Gold Worth Over US$460 million

GOLD buyer, Better Brands Jewellery (BBJ), has reached a new milestone after delivering more than seven tonnes to the government last year, in a haul worth nearly US$ 460 million. The total deliveries to Fidelity Printers and Refiners (FPR) was  10 times more than BBJ’s total haul in 2020, where it delivered 800kg of the precious mineral. BBJ director and chairperson of the Gold Buyers Association (GBA), Pedzisai “Scott” Sakupwanya said the record deliveries for 2021 were a testament of small-scale miners’ pulling power in local gold production. “In 2020, our deliveries were 800kg. We increased that nearly tenfold in just one year. What this tell you is that as indigenous people, were have the capacity to contribute significantly to the nati

December 31, 2021

Prophet Passion Java & DJTowers Promise Business Loans To Youths

Controversial preacher Passion Java and Zimbabwe Youth Presidential Support Organisation president, Tempter Paul Tungwarara, have pledged to offer loans to youths who come up with viable business plans. The duo made the promise on Monday at a private club where Java donated belated Christmas gifts to the elderly, orphans and the vulnerable. They said the loans will range from US$500 to US$3 000 and beneficiaries will be expected to repay the loans within six months. Chitungwiza, Java’s home town, is set to be the first to benefit, next year, before the programme cascades to the rest of the country. Said Tungwarara: The program will target all the youths, vendors, miners and all professionals and experts engaged in commodity selling in all parts of Zimbabwe. Java said

October 27, 2021

Gambakwe Says Money Transfer Agent Senditoo On Verge Of Collapse

Senditoo, a prominent system of transferring money beyond international borders is on the verge of collapsing. According to multiple sources, the company’s systems have been down for weeks. One of its customers, prominent activist, Tsungai Mutasa, took to social media to slam the company for its poor service delivery. “Senditoo is becoming like a Banana Republic, the whole system has been down for weeks. People can’t collect money,” said Tsungai Marian Mutasa. The innovative service allows users to send instant mobile phone top-ups to more than 140 countries across the world, including 39 in Africa. Connected to over 400 mobile operators across the globe with a reach of 4.5 billion prepaid phone users, Senditoo is quite possibly one of the world&r

October 22, 2021

Tycoon Kudakwashe Tagwirei Battled Covid-19 For Four Months & Spending 37 Days In A Coma

Controversial tycoon Kudakwashe Tagwirei said he battled Covid-19 for four months, spending 37 days in a coma before he dished out US$5,3 million to local football giants Dynamos and Highlanders FC. As reported by Nehanda Radio, Tagwirei made a surprise visit to Highlanders Football Club in Bulawayo on Sunday afternoon and pledged to renovate its offices. Addressing journalists, the Sakunda Holdings boss, however, said he went for 37 days in a coma battling Covid-19. “I was looking at how dilapidated these offices are now, so we are going to fix them starting from tomorrow (Monday),” he said. “God has graced me with life because I was very sick for four months. I was in hospital with Covid-19 and spent 37-days in a coma.” Last month, Sakunda Holdings made a US$5

October 17, 2021

Shacky Timburwa Serial Entrepreneur Making Zimbabwe Shine In The International Business World

Forbes under 30 member and serial entrepreneur Shacky Timburwa is carrying the Zimbabwean flag proudly in the international business community. Shacky has business establishments in mining , real estate, energy and manufacturing.  Besides his heavy work schedule Shacky is also a man of God. He also mentors young people about life and business. Below is a Snippet from an exclusive interview with Sky News in Dubai Expo2020 GITEX Technology Week.   When they asked me what I have to say about Zimbabwe I told them, “Ndiri Mwana Wevhu… I’m a nationalist meaning it’s my duty to make Zimbabwe 🇿🇼 Great. To all my kinsman wherever you’re globally fly Zimbabwe high. As for me i made a pledged a personal oath of allegiance to my be

June 23, 2021

Woman Bashes Husband After He Asked Her Why She Answered Her Boyfriend Calls In His Presence

A WOMAN struck her husband with a padlock on the head before thumping him all over the body with a stick several times after he asked her why she disrespected him by answering her boyfriend’s phone call in his presence. It is said on Monday this week at around 7pm while Prince Masuku (32) was sitting with his wife Dorothy Madumba (24) at their home, Dorothy’s boyfriend phoned asking where they could meet. Dorothy moved a few metres away from her husband and spoke for more than 10 minutes on the phone, the court heard. After she had finished talking to her alleged boyfriend, her suspicious husband asked her why she was disrespecting her by allowing her boyfriend to call her in his presence, the court heard. It seems that stoked Dorothy’s anger as she ran amok and

January 17, 2021

Mugabe’s Business Empire Collapses

The late former president Robert Mugabe’s business empire has crumpled as revealed by revelations that Gushungo Dairy Estate is being leased to a company linked to a millionaire businessman. Another company that had collapsed is a once thriving chicken and pig enterprise at the former Zimbabwe’s strongman Zvimba home. According to reports this week, Grace, the widow, is struggling to manage the vast estate resulting in the business falling to an estimated 20% capacity utilisation. Zimbabwe was ruled with an iron fist for 37 years by Mugabe but was removed through a military assisted takeover in November 2017 left a large business portfolio mainly in farming with 21 farms, according to a government-commissioned land audit. This is contrary to the one-man-one-farm lan

October 21, 2020

Kombi Conductors & Drivers To Pay Taxes

GOVERNMENT has directed workers in the transport sector, including commuter omnibus drivers and conductors, to register with the National Social Security Authority (Nssa) as part of social protection measures being adopted to cater for them when they reach retirement age. This is part of a robust social protection system that Government is adopting as it realises that informal sector players miss out on cushioning grants when they reach retirement age. By law, every employee in formal employment should be registered with Nssa, have the requisite contributions and premiums paid for them to Nssa and be able to benefit from the National Pension Fund and Workers' Compensation Fund when they retire or are injured in a work-related accident. Already, Government is remodelling and pr

August 21, 2020

Individuals Can Now Only Have One EcoCash Account

The Reserve Bank of Zimbabwe (RBZ) on Friday announced new measures to address mobile banking deficiencies in its Monetary Policy Statement (MPS). The Central Bank issued a directive to the effect that, with immediate effect, all mobile money operators have to close all multiple wallets and allow just one wallet per individual. This entails that it is no longer permitted for an individual to have more than one EcoCash account or with other mobile money operators for that matter. The RBZ said: Following the suspension and freezing of agent and bulk-payer wallets on 27 June 2020, mobile money operators have allowed illegal foreign currency dealers to use multiple individual wallets as a means to bypass the transaction limits and continue with their illicit transactions. However, th

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