President Mnangagwa yesterday told the high-level Tokyo International Conference on African Development (TICAD) that his administration is committed to comprehensive economic reforms and making the country a safe destination for investment. He lauded Japan, saying the world’s third largest economy had a “critical role to play for Africa’s economic transformation, diversification and industrialisation”. The President made the remarks while addressing a plenary session at the three-day TICAD 7 Summit, which was officially opened yesterday by Japanese Prime Minister Shinzo Abe. A number of African Heads of State are attending or are highly represented at the summit which seeks to stimulate trade and investment between the continent and Japan. President Mnan
The Zimbabwe Anti-Corruption Commission (ZACC) has recovered over $10 million since it assumed office and has vowed to continue pouncing on Government officials who abuse their positions for self-enrichment or interfere with judicial processes. Latest statistics however indicate that Zimbabwe loses about $4 billion per year into corruption. So if one considers the fact that Zimbabwe is a $16 billion economy and 25 percent of that is lost, then you can actually project that in Zimbabwe we are losing about $4 billion through corruption. The money which ZACC recovered mainly was mainly minor sources like tax evaders and individuals who had acquired illicit wealth but not the dominant political figures and the elite private sector individuals who milk the country dry. he anti-graft bo
Embattled former Old Mutual CEO Peter Moyo has lodged an urgent application for the board of Old Mutual and its chairperson Trevor Manuel to be declared as having deliberately interfered with the functioning of the courts. In a new affidavit, the on-again, off-again Old Mutual head stated that his second axing by the financial services giant on August 22 was “deliberately calculated to undermine the efficacy of the judgment of this court”. In an open letter published on its website last week, Old Mutual said it took the step to terminate Mr Moyo’s tenure as CEO for a second time “after legal advice and on careful reflection by directors, with proper regard to their fiduciary duties to the company”. Mr Moyo is currently challenging in court h
The Nelson Chamisa-led MDC has shifted focus from major cities and now wants to carry out its anti-government protests at growth points and smaller towns starting this Friday. The opposition party leadership has since notified police in Mashonaland East, Manicaland and Mashonaland West on plans to protest at growth points and smaller towns in the provinces on Friday and Saturday. In Mashonaland East, protests are targeting Mahusekwa, Mutoko, Murehwa, Marondera, Goromonzi and Wedza, while Rusape, Chipinge and Nyanga are prime targets in Manicaland. MDC Manicaland provincial spokesperson David Panganai confirmed the planned protests. NewsDay is reliably informed that mobilisation in the rural areas, a Zanu PF stronghold, has begun with disgruntled citizens expected to lead protes
Citing government’s dismal human rights record, as well as “bureaucratic wrangling and bungling and inefficiencies, incompetence, not enough change agents, basic fear of change as well as an imaginative deficit that cannot see beyond the present”, Petina Gappah, a lawyer and writer, last week left her position as a trade and investment adviser to President Emmerson Mnangagwa. However, Gappah absolved Mnangagwa from the grim mess gripping government. Instead, Gappah chose to blame government officials who want to “eat” for derailing a “difficult transition”. But, as Zimbabweans can attest to, Mnangagwa’s leadership has been anything but exemplary, visionary or altruistic. His deployment of ZNA soldiers who killed 6 civilians on August 1,
ZIMBABWE’S banking sector is skating on thin ice due to a illiquidity crunch that has drastically reduced the financial institutions’ capacity to lend following the reintroduction of a local currency, a report has revealed. According to the report by brokerage research firm IH securities titled, The Zimbabwe Banking sector: Navigating a challenging monetary space, released on Friday, the currency reforms created a mismatch between foreign currency-denominated assets and liabilities on some banks’ balance sheets. The distortions have stifled the financial institutions’ lending capacity, the report says. “The floating of the Zimbabwe dollar resulted in the translation of foreign currency denominated assets at the interbank rate,” reads part of the
Guests who attended the wedding of President Emmerson Mnangagwa’s son have dismissed an article circulating on social media that the First Lady Auxilia clashed with MDC-T leader Thokozani Khupe. The viral article claimed the First lady was mad at Khupe for attending the wedding and went on to slap the latter. However the allegations were dismissed as false as Khupe did not attend the wedding. Speaking to Zimlive,Norton Legislator Themba Mliswa confirmed that Khupe was not there. “She never came to the wedding. There were only a few people there. The reception probably 200 people only, family and friends. She doesn’t fit into that category at all,” said Mliswa. He Added: “The friends are well-known, these are long-time friends of the families
Government yesterday came down hard on errant service stations countrywide, closing them for refusing electronic modes of payment and only accepting hard cash. Ruyamuro service stations in Glendale, Harare and Nzvimbo Growth Point in Chiweshe were shut down for refusing alternative payment methods, except cash. Engen at the corner of Harare Street and Robert Mugabe Road was closed for the same reason. Energy and Power Development Minister Fortune Chasi said Government, through the Zimbabwe Energy Regulatory Authority (Zera), was in the process of revoking licences for filling stations breaching the law, following several warnings a few months ago. He said stern measures being taken against irresponsible filling station operators were appropriate in the circumstances,
if ecocash is paying more than 70% of zimbabwean mobile money transfer,why the gvt not putting a glims on the extrem charges being done by the Eco cash agences and certain individuals acting as agences. _For example if you want to cash out 10 Rtgs you have to be charged 35%± which means that from 10rtgs you will walk away with 6.50 RTGS±_. Why cant this issue be addressed,Zimbabweans are crying foul but they dont know where to forward their grievance…
TREASURY failed to account for about US$1,03 billion it paid to Sakunda Holdings, a company owned by President Emmerson Mnangagwa’s close ally and adviser, Kudakwashe Tagwirei, under the fabled Command Agriculture programme from 2017 to date, it has emerged. Command Agriculture is an agricultural scheme that was introduced in 2016 aimed at ensuring food self-sufficiency through supporting farmers with irrigation and farming inputs. According to the 2017/18 Command Agriculture payment schedule provided by Treasury to Parliament’s Public Accounts Committee (PAC) yesterday, in 2017, Sakunda was given US$378,73 million and US$235,95 million last year by the Finance ministry under the Command Agriculture scheme. Under the Presidential scheme, another similar agricultural sche
