Zim News Blog -NEWS NETWORK

Source: NRZ, war vet deal in limbo 20 yrs on – The Southern Eye

A JOINT agricultural project between the National Railways of Zimbabwe (NRZ) and Bulawayo-based war veteran Phathakahle Dube has failed to take off for the past 20 years.

Dube, who owns PKD Malindi (Pvt) Limited company, signed a joint venture agreement with NRZ in June 2003 to engage in farming activities at plot 5 Woolandale Estate in Khami, Bulawayo. However, the project suffered a stillbirth after the property was invaded by 53 illegal settlers.

The plot belongs to NRZ and its late general manager Mike Karakadzai had okayed the deal which has since left Dube in a quandary, shuffling from one office to the next seeking assistance, with little success.

Yesterday, Dube said he was frustrated by the lack of progress in evicting the invaders in order to allow the project to commence

In September 2018, Dube  and the NRZ were granted an eviction order to remove the illegal settlers from the farm, but efforts to evict them were futile. After failing to evict the invaders, Dube approached the then Defence and War Veterans ministry for assistance in November 2022.

In response, the then secretary in the ministry Mark Grey Marongwe, wrote to the new NRZ general manager Respina Zinyanduko, seeking clarification on the matter.

“We note that the NRZ is in a joint venture with Dube which was duly entered and signed between yourselves on June 30 2003 for purposes of agricultural activities. It is regrettable to note that no meaningful farming activities have taken place owing to the presence of illegal settlers who have disrupted farming operations since 2003,” Marongwe wrote.

“We, therefore, implore your office as the owners of the land in dispute to exercise lawful authority in evicting these illegal squatters to enableour member to freely participate in government programmes aimed at enhancing national food security.”

On May 3, 2023, Zinyanduko wrote to permanent secretary in the Ministry of Transport and Infrastructure Development, Theodious Chinyanga.

She said NRZ and PKD Malindi have been seeking to execute the eviction order without success and the illegal settlers still occupy the property.

On October 3, 2023, a legal advisor for war veterans affairs, one BC Maposa, wrote to the NRZ saying: “Such a scenario has unduly prejudiced and disadvantaged Dube who could not, owing to the prevailing situation, partake and participate in government programmes and schemes meant to empower veterans of the struggle.”

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Source: Kefalos goes green with 600KW solar plant – The Standard

CASSAVA Technologies subsidiary, Distributed Power Africa (DPA) has built a 600 kilowatt (kw) solar plant for dairy processor, Kefalos Cheese Products, to ensure stable energy for the latter’s processes. Kefalos manufactures a growing range of dairy products for the Zimbabwean and export markets which like many other firms had been suffering for hours long daily power cuts due to low power generation. This is mainly due to low power generation from the Kariba South Hydro Power Station, Zimbabwe’s largest power generation source.

While the power situation has improved owing to increased power generation from the Hwange Thermal Power plat, the second largest power source in Zimbabwe, many businesses are increasingly investing in solar energy to mitigate against future disruptions.“For dairy companies such as Kefalos, efficient electricity supply is not only essential but critical, as the processing and handling of perishable goods requires 100% power up-time,” Kefalos Head of Marketing Pam Tairoodza said, in a statement. “This investment in green energy has ensured that we minimize the impact of power interruptions, ensuring business continuity every day. ”DPA said the switch to solar energy would ensure their products were brought to the consumer at minimal damage to the environment.

DPA added the switch would allow the KCPL to meet its ESG goals and maintain competitiveness on a regional and global scale as consumers were becoming more and more conscious of associating themselves with brands that uphold good manufacturing practices.“Kefalos’s transition to solar energy will allow them to keep essential operations running at their Bhara Bhara Factory along Mubaira Road,” DPA said. “Cost reduction has become the mantra for businesses the world over. For Zimbabwean-run manufacturing companies, this has not been any different. Solar energy reduces manufacturing costs, allowing companies to reduce their energy bill by up to 30% while also reducing their carbon footprint. ”DPA said Kefalos DPA-installed solar plant provides up to 50% of Kefalos’ energy requirements when the factory is running at full capacity while reducing the company’s carbon footprint significantly. “The plant’s annual energy production of 999,6MWh (megawatt per hour) saves 599 000kg of carbon emissions and saves over 6 200 tonnes annually.

The grid-tied system also allows for the solar plant to supply energy to the national grid when the power demand from the Kefalos factory is below the solar plant’s power output,” DPA said. DPA is a subsidiary of Cassava Technologies, the digital services and digital infrastructure arm of Econet Global Limited, the South African headquartered technology firm belonging to Zimbabwean billionaire and Zimbabwe’s richest man, Strive Masiyiwa.

Econet Global has the majority shareholding in Econet Wireless Zimbabwe. “The Kefalos deployment has proven to be one of our most complicated deployments to date as it required close coordination and integration with the ZETDC substation and distribution network,” DPA chief executive officer Norman Moyo said.“The successful connection to the grid has opened up a significant opportunity for DPA to deliver larger and unique solar-embedded grid-tied solutions beyond 10MW, particularly to large users, mines and factories in the country.

I am proud of the dedication of our engineers and the support we received from ZETDC on this landmark project. ”He said that while the recently announced 600 MW capacity added to the grid by ZESA through Hwange Thermal Power Station would greatly stabilise energy supply in Zimbabwe, DPA expected energy costs to increase. “Our customers are keen to increase their solar deployment to deal with adverse energy costs. We are experiencing an increase in demand for grid-tied solar systems from our commercial and industrial users,” Moyo said. “DPA continues to provide financing for the solar and battery storage on a lease model. This allows customers to better control their escalating energy costs and deploy their capital to their core business.

According to DPA, the use of generators as backup power is becoming increasingly expensive because of the rising cost of fuel, and many companies are now investing in more economical solar solutions.“Unstable grid power has interrupted operations for many companies, increasing the demand for cleaner and more reliable renewable energy,” the firm noted.

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Source: New Cottco CEO vows to take firm to ‘next level’ -Newsday Zimbabwe

Newly appointed Cottco Holdings Limited CEO Priscilla Mutembwa has vowed to transform the company by creating a bridge between cotton farmers and the entity.

Mutembwa holds several qualifications related to computer systems engineering, accounting, cybersecurity management, and policy implementation.

In an interview with NewsDay Farming, the executive said that she would leverage on her experience and qualifications to add value to the firm, utilising its business side to take the company to another level.

Mutembwa is currently engaging Treasury, the central bank, and financial institutions aiming to raise US$6,8 million to pay off cotton farmers.

“Though I’m still new in the position there is a lot I need to understand but given a season I think I will be able to do a lot more for the company. About my qualifications and experience I am more into the business side and with that I will be able to use it on that business side,” she said.

Mutembwa said one of the ways to achieve the company’s target was to create a good relationship with the farmers by paying them what the company owes.

“Honestly, I cannot sit here and talk about side marketing when we have not paid farmers,” she said.

The executive said what was key for Cottco was to address the challenges that are affecting the company and the farmers.

 “We must address our challenges first, then we talk of side marketing. And I’m actually very pleased that we even got 77% (clearance of farmers debt) considering that we did not have money on the ground. So, to that, I’m grateful to those loyal farmers that still delivered to us when we didn’t have the funding,” Mutembwa said.

 “I think the issue we should be talking about, which is the bigger challenge, is what we call side production, where the cotton inputs are being used for other crops or are being sold and by so doing, reducing the cotton crop.”

Mutembwa also lamented the abuse of inputs by errant farmers who are selling them thereby affecting cotton production.

Some of these abuses were the non-return of inputs wherein out of 360 224 distributed, only 124 000 returned which affected the cotton production, she said.

 “The inputs distributed to farmers were about 360 224 and only 124 000 returned (a third), looking at the number of inputs that were distributed to cotton farmers, we should have been able to grow up” Mutembwa said.

Cotton or the white gold is an important cash crop in Zimbabwe.

Lands, Agriculture, Fisheries, Water and Rural Development minister Anxious Masuka recently revealed that the cotton sector recorded a 61% increase in production to 90 085MT in the 2022/23 agricultural season.

This was against 56 044MT from the 2020/21 season.

The improvement was due to increased hectarage, government support, and better payment modalities.

“The crop is drought resistance, and this characteristic of cotton will be key in its resilience in the 2023/24 season,” market researcher Morgan & Co said, in its new Food and Agriculture Sector Report 2023/24.

“However, a forecast surplus in the global cotton industry will likely result in the current producer price of around US$0,46/kg receding closer to the country’s historic average producer price of c.US$0,30/kg. Additionally, a post-election reversion to normalcy could result in reduced support to cotton farmers.”

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Source: Businessmen’s legal battle takes new twist –Newsday Zimbabwe

ACCESS Finance board chairman Isau Bwerinofa has said the High Court lacks jurisdiction to hear the case in which former director Senziwani Sikhosana has taken him and seven others to court over a dispute involving three townhouse properties worth US$320 000.

Sikhosana and his firms — Ferden Investments, Rock Drill Mining and Seanmart Investments — had cited former Access CEO Singathini Raymond Chigogwana, Bwerinofa, Thirty-Six Mountabatten, Access Finance, Access Forex, Tara Capital, Sheriff of the High Court and the Registrar of Deeds and Companies as respondents.

In the application to the High Court, Sikhosana wants Chigogwana to transfer the properties which were part of their split settlement to him in real estate or cash.

He also wants him to pay all transfer taxes, imposts and costs associated with the deal.

Sikhosana had also submitted that in terms of clause 9 of the agreement of sale of his shares and property as well as the share purchase agreement, he should put Chigogwana in default to address the issue within 14 days.

If the breach is not rectified, he shall have a right to cancel the agreement or demand redress during the case.

In opposing the application, Bwerinofa, representing himself and Thirty-Six Mountbatten, Access Finance, Access Forex and Tara Capital, challenged the court’s jurisdiction to hear the matter saying clause 21.1 of the Share Purchase Agreement (SPA) provides that any dispute shall be referred to arbitration.

Bwerinofa submitted that the SPA has yet to be implemented to the extent that the respective agreements are subject to the successful implementation of the SPA.

He further submitted that Sikhosana’s resolve that the claim is US$320 000 without any arbitration is ludicrous.

“…. it must be noted that the First Applicant (Sikhosana), First Respondent (Chigogwana), Second Respondent (Bwerinofa), and other respondents are not counterparties to the sale agreements it is claimed are the subject of the sale agreements of the housing units. It is clear therefore that the dispute between the parties is the implementation of the SPA and all agreements that must be read together with the SPA,” Bwerinofa submitted.

Bwerinofa said Sikhosana had no authority to bring court proceedings against the firms cited as respondents, saying the resolution proceedings of the applicants, Ferden Investments, Rock Drill Mining and Seanmart Investments, relied upon to bring the present proceedings did not authorise the institution of court proceedings against the respondents.

Bwerinofa submitted that while they were incarcerated and Sikhosana was in South Africa, he withdrew more than US$60 000 but it was not disclosed. When asked why he had withdrawn the money, Sikhosana said he wanted to buy his freedom in Zimbabwe so he could come back, Bwerinofa alleged.

Chigogwana associated himself with Bwerinofa’s opposing affidavit.

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Source: Treasury warns against ZWL$50 note snub –Newsday Zimbabwe

FINANCE and  Investment promotion deputy minister Kudakwashe Mnangagwa, yesterday warned businesses rejecting the ZWL$50 note that they risk heavy penalties.

Mnangagwa said this while responding to questions from legislators who wanted to know government’s response to businesses rejecting the ZWL$50 note.

“On the issue of those rejecting our money, as lawmakers and representatives of the people, we should report to the Financial Intelligence Unit or the ministry so that we Investigate  and ask why they are not accepting our currency, and sanction them,” he said.

“At the moment we use the local currency and the multi-currency regime and it will end in 2025 … business people should not reject local currency

“I want to assure the august House and Zimbabweans that we are looking at this matter. We now have ZiG (digital currency) which is a store of value and an alternative for those who are unable to use bond notes, they can buy ZiG.”

Market watchers are giving the ZWL$50 note very little chance of survival against the greenback as informal traders and commuter transport operators reject it. The demise of  ZWL$2, ZWL$5, ZWL$10 and ZWL$20 notes in the not-so-distant past seems to have all sealed the fate of the country’s second largest note as the local currency continues to depreciate, losing over 18% of its value since the August 23 and 24, 2023 elections, to reach its current value of US$1:$5 633,8332 on the interbank market.

President Emmerson Mnangagwa re-introduced the Zimbabwe dollar in 2019 after a decade of dollarisation.

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