Saturday, September 23, 2017
Business Writers Sakunda Holdings has recently been awarded a number of Government tenders running into billions of dollars across various sectors of the economy, courting public interest and raising anxiety. To some, Sakunda is the equivalent of the Guptas Business Empire in South Africa. Through his association with Government Sakunda director...
Africa Moyo Dealmaker, Sakunda Holdings, has expressed interest in exploiting coal-bed methane gas in Lupane, with reports indicating that negotiations with Government are at an advanced stage. The Lupane Gas Project, which was granted National Project Status in 2007, has been linked to a number of local and foreign companies for...
Central Bank pushes for lawyers’ involvement in money laundering fight ...but lawyers say RBZ overstepping mandate Business Writers Zimbabwe law firms are now subject to financial Know Your Customer (KYC) monitoring and reporting by the Reserve Bank, as the apex bank moves to throttle money laundering and illicit financial flows that...
Business Writers The net is closing in on a sophisticated gold smuggling syndicate allegedly involving processors, buyers and corrupt officials from Fidelity Printers and Refiners — a gold buying arm of the Reserve Bank of Zimbabwe. This comes as Fidelity has said that gold smugglers could have creamed the country of...
Business Writers One of the first companies to indigenise and set up successful regional businesses, Zimre Holdings, has embarked on a reorganisation exercise, which will ultimately result in its rebranding but also brings an end to an era which was dominated by four insurance personalities. Zimre Holdings is the country’s largest...
Business Writers Messina Investments defied Zimbabwe Stock Exchange Listing Rules after it made an off-the-market offer to CFI Holdings minorities as a counter to an approved offer made by Stalap Investments, which controls 41 percent of the company. Messina Investments controlled by British businessman Nicholas Van Hoogstraten yesterday issued a statement...
Martin Kadzere The Infrastructure Development Bank is planning to start listing its bonds on the Financial Securities Exchange, an alternative trading platform, during the first quarter of next year. The IDBZ plans to start listing the energy bonds issued in 2014, followed by the housing bonds recently issued through a private...
Conrad Mwanawashe Barclays Plc and the Barclays Bank of Zimbabwe board of directors are constituting a board of trustees to superintend the 322 998 026 ordinary shares to be housed under the Employee Share Ownership Trust. This is equivalent to 15 percent of the issued shares of BBZ. This comes after...
Business Reporters Africa’s richest man Aliko Dangote is still keen on investing hundreds of millions of dollars in Zimbabwe’s cement industry, but securing limestone deposits to support the plant remains a sticking point, Government sources revealed yesterday. He is also keen on investing in a 600 megawatt thermal power station that...
Conrad Mwanawashe Information Communication Technology, Postal and Courier Services Minister Supa Mandiwanzira says Government wants the 40 percent Telecel Zimbabwe stake held by the Empowerment Corporation to benefit shareholders and empowerment groups that were originally in the structure when the company was formed. While information at hand shows that part of...