FUEL PRICES HIKED

The Zimbabwe Regulatory Authority (Zera) has hiked fuel
prices with effect from Monday next week amid a serious shortage of both petrol
and diesel, leaving motorists stranded at empty pumps.

In a statement yesterday, Zera said the petrol pump pric…

The Zimbabwe Regulatory Authority (Zera) has hiked fuel prices with effect from Monday next week amid a serious shortage of both petrol and diesel, leaving motorists stranded at empty pumps. In a statement yesterday, Zera said the petrol pump price will increase marginally to ZWR$3,41 per litre starting Monday due to a slight increase in the free on board (FOB) price. The increase in the

THREE BROTHERS DROWN

Three brothers from Matanhura village in Mbire district drowned
after their canoe sank in Musengezi River on Sunday afternoon.

Sikhumbuzo Mhlanga (19), Tanatswa Kazingizi (10) and Andrew
Zawada (7) drowned on their way home from a Sunday church se…

Three brothers from Matanhura village in Mbire district drowned after their canoe sank in Musengezi River on Sunday afternoon. Sikhumbuzo Mhlanga (19), Tanatswa Kazingizi (10) and Andrew Zawada (7) drowned on their way home from a Sunday church service along Musengezi River. Mbire legislator Douglas Karoro (Zanu PF) confirmed the incident. “I can confirm a case of drowning in my

MATABELELAND TO LOSE THREE CONSTITUENCIES

BULAWAYO, Matabeleland North and South, and Masvingo are
likely to lose some constituencies in the next delimitation exercise while
Harare, Mashonaland West and Mashonaland Central are expected to gain an
average of two if findings of an independen…

BULAWAYO, Matabeleland North and South, and Masvingo are likely to lose some constituencies in the next delimitation exercise while Harare, Mashonaland West and Mashonaland Central are expected to gain an average of two if findings of an independent electoral watchdog are anything to go by. The delimitation research findings are contained in a Zimbabwe Election Support Network (Zesn)

WADYAJENA DISMISSES FAKE MILLERS MEETING

THE Tafadzwa Musarara-chaired Grain Millers’ Association of
Zimbabwe (GMAZ) yesterday turned up in Parliament to be grilled by the
Parliamentary Portfolio Committee on Lands and Agriculture on issues pertaining
to procurement of wheat, only to find t…

THE Tafadzwa Musarara-chaired Grain Millers’ Association of Zimbabwe (GMAZ) yesterday turned up in Parliament to be grilled by the Parliamentary Portfolio Committee on Lands and Agriculture on issues pertaining to procurement of wheat, only to find that the MPs were not present for them. Last month, when they appeared before the committee, led by Gokwe Nembudziya MP Justice Mayor Wadyajena,

Madam Boss and Mai Titi finally end beef …. As sungura musicians clash with dancehall artistes

MADAM Boss and Mai Titi have buried the hatchet. The two socialites will work together as medics in the same team after an acrimonious fall out some time last year. Both will be fighting in the Sungura Musicians corner when the former meet Dancehall Mu…

MADAM Boss and Mai Titi have buried the hatchet. The two socialites will work together as medics in the same team after an acrimonious fall out some time last year. Both will be fighting in the Sungura Musicians corner when the former meet Dancehall Musicians in a football battle and music battle to be held […]

Wadyajena Parly committee bunks GMAZ hearing

THE Tafadzwa Musarara-chaired Grain Millers’ Association of Zimbabwe (GMAZ) yesterday turned up in Parliament to be grilled by the Parliamentary Portfolio Committee on Lands and Agriculture on issues pertaining to procurement of wheat, only to […]

THE Tafadzwa Musarara-chaired Grain Millers’ Association of Zimbabwe (GMAZ) yesterday turned up in Parliament to be grilled by the Parliamentary Portfolio Committee on Lands and Agriculture on issues pertaining to procurement of wheat, only to [...]

Latest on Mnangagwa’s dialogue partner who was filmed boasting about spending govt money at top hotel

Suffering Voices of Zimbabwe (SVZ) vice president Wellington Shumba, claims a video of him showing off his stay at a five star hotel on government expense was doctored by the Nelson Chamisa’s MDC. The little known politician’s video went viral on socia…

Suffering Voices of Zimbabwe (SVZ) vice president Wellington Shumba, claims a video of him showing off his stay at a five star hotel on government expense was doctored by the Nelson Chamisa's MDC. The little known politician’s video went viral on social media in the past few days after he was filmed boasting about spending […]

Rare disease kills cattle in Gutu

Source: Rare disease kills cattle in Gutu | The Herald 03 APR, 2019 Walter Mswazie Masvingo Correspondent Farmers in Gutu have raised a red flag over a rare disease that has killed over 100 cattle in the district ravaged by Cyclone Idai. Masvingo Beef Association provincial chairman Mr Robert Makado said the situation was dire. […]

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Source: Rare disease kills cattle in Gutu | The Herald 03 APR, 2019

Rare disease kills cattle in Gutu

Walter Mswazie Masvingo Correspondent
Farmers in Gutu have raised a red flag over a rare disease that has killed over 100 cattle in the district ravaged by Cyclone Idai.

Masvingo Beef Association provincial chairman Mr Robert Makado said the situation was dire.

Some farmers no longer have cattle.

Mr Makado said reports suggested that unscrupulous butchery operators were buying the carcasses for a song and selling meat to unsuspecting villagers.

He appealed to the department of veterinary services to be on the look out for such business people.

“We are receiving reports from our members in Gutu that a rare diseases killing cattle has invaded the district.

‘‘More than 100 cattle have been lost to this disease as farmers woke up to find their cattle dead every morning,” said Mr Makado.

A villager from Chief Munyaradzi area, Mr Haruzivishe Manyanya said: “I had eight cattle, but my pen is now empty as I woke up one day to find all of them dead. We appeal to Government to help us as we suspect this could be tick-bone.”

Masvingo department of veterinary services provincial officer, Dr Ernest Dzimwasha urged farmers to dip their cattle to avoid tick-borne attacks.

“While I am yet to get the report, of late we have the problem of tick-borne disease in the country, he said.

‘‘I urge people not to eat meat from butcheries not inspected as unscrupulous business persons may decide to cash in on contaminated meat and sell it for a song. I also advise farmers to dip their cattle.”

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Welshman Ncube’s sidekick arrested for MDC-A violence

Police yesterday arrested MDC-Alliance legislator for Zengeza East, (47) and the party’s Chitungwiza Ward 14 councillor Chengetai Nyagonda (48) on charges of public violence that occurred at the party’s Ward 17 councillor Fungai Magadzire’s home […]…

Police yesterday arrested MDC-Alliance legislator for Zengeza East, (47) and the party’s Chitungwiza Ward 14 councillor Chengetai Nyagonda (48) on charges of public violence that occurred at the party’s Ward 17 councillor Fungai Magadzire’s home [...]

Old Mutual happy with mall space uptake

Source: Old Mutual happy with mall space uptake | Herald (Business) Michael Tome and Enacy Mapakame DIVERSIFIED financial services group, Old Mutual Zimbabwe, says it is satisfied with the rate of space uptake at the newly constructed Eastgate mall for small to medium enterprises. The mall opened early this year and the occupancy level now […]

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Source: Old Mutual happy with mall space uptake | Herald (Business)

Michael Tome and Enacy Mapakame
DIVERSIFIED financial services group, Old Mutual Zimbabwe, says it is satisfied with the rate of space uptake at the newly constructed Eastgate mall for small to medium enterprises.

The mall opened early this year and the occupancy level now stands at 57 percent with most of the space being occupied by shops such as Foodword.

Inclusively the complex has 12 000 square metres of prime retail space configured to accommodate a diverse range of SME business models under one roof.

Old Mutual is aware that lack of convenient premises and access to markets are some of the major issues inhibiting desired growth levels of the SME sector.

Responding to questions at the analyst briefing recently, Old Mutual managing director Marjorie Mayida indicated that most of the space had been taken up and expect the demand to grow since the building had generated a lot of interest.

“The performance of the building so far is satisfactory and the occupancy level right now is sitting at 57 percent, there is a lot of interest on this place, we have opened line shops and the anchor tenant and all the space has been taken,” Mrs Mayida said.

The development comes on the back of the firm’s 41 percent growth in revenue to $1,4 billion for the year to December 31, 2018 , becoming the second company to hit the billion revenue mark since dollarisation after Innscor.

Old Mutual attributed the revenue growth to an increase in all main revenue lines.

As a result, pre-tax profit for the year under review jumped 36 percent to $329,8 million compared to $242,9 million reported in the previous year.

Operating profit rose 23 percent to $79,2 million on the back of profit growth in the life, banking and asset management business.

Gross premium written was 10 percent firmer to $214 million for life and short term insurance business on improved client retention and new business that was underwritten.

Operating profit for the life business grew 31 percent on growth in the retail segment and in asset based fees.

The short term insurance, however, recorded an underwriting loss of $0,3 million due to a 47 percent growth in claims from prior year.

Private motor claims as repair costs increased due to foreign currency shortages contributed to the increase in claims.

The banking business reported a 17 percent growth in profit to $49,2 million from prior year’s $42,1 million  on the back of growth in net interest income that was 19 percent above prior year.

Net interest income rose due to an increase in loans and advances as well as an improvement in net interest margin.

Net non-interest income rose 13 percent on continued use of card based and electronic banking platforms.

Funds under management for the asset management business were 52 percent above prior year at $4,1 billion on a combination growth in net client cash flows and positive investment performance. Resultantly operating profit for the asset management business rose 60 percent.

Management is of the view that the macro-economic environment will play a key role in its operations.

This will, however, depend on Government’s ability to sustainably rebuild public and investor confidence, control spending as well as re-engage with the international community.

“This needs to be accompanied by effective implementation of programmes stemming from the new policies under development. The group has always had confidence in Zimbabwe’s economic potential and supports the development of economic policies that will allow this potential to be realised,” said chairman Mr Johannes Gawaxab.

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