POSB CEO sees positive spinoffs in bold reform
In an address to stakeholders during an annual general meeting (AGM), Kandlela said attracting private capital would also bolster its “competitive edge”.
Mnangagwa is accused of imposing his ally John Paradza as leader of the Zanu PF youth league, sparking resistance from party structures.
OMZ, PPC and Seed Co International were all suspended from trading on the Zimbabwe Stock Exchange (ZSE) on June 28, 2020 owing to the fungibility of their shares which are listed on other external exchanges.
Gift Ostallos Siziba, the party’s deputy spokesperson, accused the police of pandering to the whims of the ruling Zanu PF party to block CCC rallies.
Zimbabwe’s economy has been facing serious headwinds since the beginning of the year, with annual inflation nearing 200% last month, while the domestic currency has been battered on both the official and parallel markets.
It has since emerged that Tendai Kandima, an ex-corporal and Special Forces (SAS) training dropout, was convicted by a military court martial in February 2019, but the case was kept under wraps until now after this publication obtained his court documents.
Electricity availability from Zesa’s power plants has been curtailed by breakdowns due to ageing infrastructure.
Fitch’s downgrade came at a time the local currency was depreciating rapidly against major currencies with a single United States dollar now trading for $393,85 on the official market, down from $108,66 at the beginning of the year.
Yesterday a defiant Mashayanyika told The Standard that he did not have any regrets over his threats, saying he was “too Zanu PF” to be arrested.
Chamisa told The Standard in an exclusive interview yesterday that CCC would not stand by while its members were being victimised.
Speaking at the ceremony, Transport and Infrastructural Development minister Felix Mhona said a fleet from 2006 was now old hence the new investment.
The forex auction and interbank rates have reached US$1:$366 and US$1:$371, respectively following the introduction of the willing-seller willing-buyer policy.
Scores of people including Citizens Coalition for Change (CCC) leader Nelson Chamisa, his deputy Tendai Biti and civic society leaders welcomed his body at the Robert Gabriel Mugabe International Airport.
Zimbabwe, which is classified to be in debt distress by the International Monetary Fund (IMF), now has to settle a further US$420,4 million to pacify the Paris Club before moving to tackle more unsettled commitments estimated at over US$17 billion across lenders.
The elective conference ended yesterday with Senate president Mabel Chinomona retaining her position as secretary of the Zanu PF women’s league.
The rally was scheduled for Pfumojena Stadium and had been cleared by the police, but the local municipality cordoned off the area and barricaded it with sealing tape used at crime scenes.
In several presentations at this year’s edition of the Women’s Executive Leadership Roundtable (WELR) in Kariba on Thursday, executives and entrepreneurs said defences to be rolled out to tackle these turbulences must include swinging into offshore investments.
RBZ governor John Mangudya said the carnage was not a result of United States dollar shortages as the country was generating foreign currency at a far higher rate than before.
“I can confirm that Alex is no more, but I can’t talk much right now, ” Levy said.
A special council meeting on Thursday voted for the suspension of the 30-year waste management deal between the Netherlands based Geogenix BV fronted by businessman, Delish Nguwaya and the local authority.
More than US$30 million in fresh funding was estimated to be destined for mines immediately from sources outside the banking sector as mining executives digested the industry’s future during the Chamber of Mines of Zimbabwe’s annual mining conference in Victoria Falls.
The move is seen as a Zanu PF election strategy since war veterans, ex-political prisoners and war collaborators are part of the ruling party’s structures.
The Chinese conglomerate listed outfit unveiled a plan to establish a processing plant — part of a US$300 million budget — that converts ore into matte, before shipment to China for further refinement.
The unknown group using a Harare address is said to have notified Zec that a party known as Ngaapinde Hake Mukomana (NHM) loosely translated to “let him in” in English will contest future elections.
The document, which is dated April 8, 2019 reads: “Extract of minutes of a board meeting held at Harare, Zimbabwe on Monday, 8 April 2019. It was agreed that after the acquisition of the Cold Storage Company Zimbabwe and its subsidiary Wetblue Industries Pvt Ltd by Boustead Beef Zimbabwe Pvt Ltd, that the subsidiary be removed from judicial management”.
Insiders told The Standard that Mnangagwa last week met owners of companies that authorities blame for the exchange rate volatility.
In a quarterly review covering the first three months of 2022, ZPC, a unit of power utility Zesa Holdings, said small thermal power stations contributed only 1% to total electricity output during the period.
Yesterday he told hundreds of CCC supporters at a rally in Gwanda that Zanu PF had failed to stop the surge by the party, which won the majority of parliamentary seats and local government wards in by-elections held on March 26, barely two months after its formation.