NATIONAL Building Society (NBS) managing director Lameck Danga is set to leave the National Social Security Authority (Nssa)-owned mortgage lender at the end of September, as turmoil continues to hit the five-year old bank. His departure also comes barely two months after the bank’s chief financial officer Ethel Chitanda was “fired” or released for “disruptive…
PROPERTY firm Sunshine Developments (Sunshine) — a joint venture between the Harare City Council (HCC) and one of Ken Sharpe’s investment vehicles — has rushed to the High Court seeking an order to evict “invaders” from its Mabelreign property. In an urgent chamber application last week, the company petitioned Lilian Chitiga and Tinashe Dhlamini for…
FBC Holdings (FBC) says its hedging strategies are bearing fruit after it realised a profit of $2,1 billion for the six months to June 2020, compared to a $380 million loss in the prior comparable period. After incurring a loss on account of inflation last year, the financial services group had said it was prioritising…
THE Insurance and Pensions Commission (IPEC) said between 25 – 30 percent of claims being submitted by clients were fraudulent.
THE recent surge in the global price of gold could be a major boon for cash-strapped Zimbabwe if the safe haven commodity maintains its charge and the government does not blow the opportunity, experts say. This comes after gold recently hit an all-time high of more than US$2 000 an ounce, with economists saying the…
BANKS and retailers have denied any wrongdoing in the distribution of the special American dollar allowances to civil servants during the Covid-19 pandemic, saying “they only play an intermediary role”. This comes as government — through Treasury — has taken out newspaper advertisements to say banks have been “conniving” and “conspiring to limit or prevent…
ZIMBABWEAN car and other equipment importers have to fork out millions more under a special 2016 tax to reduce ozone-depleting substances and as the cash-strapped government also seeks to widen its revenue collection. This also comes as local motorists pay through their noses for fuel — specifically up to US$1,28 per litre (R22) — since…
SIXTEEN sugarcane farmers in the Lowveld have taken Tongaat Hulett (Tongaat) to the High Court in a bid to reverse an agreement tailored to compensate the company for crops they had taken over. The farmers, who acquired land in Hippo Valley Ranch, Triangle and Chiredzi under the land reform programme had initially agreed to have…
ZIMBABWE has a very progressive Constitution and if those who preside over State power were to adhere to its dictates, our country would take a thrilling developmental trajectory. A Constitution just being a piece of paper, requires men and women of character and fortitude to have its provisions implemented for a resultant better nation. Great…
IT would seem that the attraction of Ponzi schemes never ends as confirmed by recent reports that police are searching for the directors of KWD Digital Marketing, a company running a suspected Ponzi scheme in Harare. Scores of gullible participants of the scheme have over the past weeks been flocking to 147 Freedom Legacy Way…
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