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Telecel Zimbabwe (Private) Limited has taken a significant step in its corporate rescue process after convening a meeting of its members and creditors to consider and vote on a proposed corporate rescue plan aimed at restructuring the struggling mobile network operator.

The meeting, convened in terms of the Insolvency Act [Chapter 6:07], is scheduled for Friday, 24 July 2026, according to a notice issued by the company’s Corporate Rescue Practitioners.

The proposed rescue plan sets out terms of settlement in accordance with Section 142(2)(b) of the Insolvency Act and applies to three classes of stakeholders: ordinary members, preferent creditors and concurrent creditors.

Members and creditors attending the meeting will have the opportunity to speak and vote on the proposed plan. Those unable to attend in person may appoint one or more proxies to exercise their voting rights on their behalf.

Corporate Rescue Practitioners Kundai Tibugare and Bulisa Mbano are expected to publish the outcome of the vote within two weeks after the conclusion of the meeting.

The outcome is expected to determine the next phase in Telecel’s restructuring efforts as the company seeks to address mounting debts and restore business viability.

Telecel entered corporate rescue after years of financial difficulties that have eroded its position in Zimbabwe’s highly competitive telecommunications sector. The company is currently under the supervision of Grant Thornton Zimbabwe, which was appointed as the Corporate Rescue Practitioner to oversee the restructuring process.

The operator is reported to owe creditors more than US$240 million, making the rescue process one of the most significant corporate restructurings in Zimbabwe’s telecommunications industry.

Once regarded as a formidable player in the mobile communications market, Telecel has experienced a dramatic decline over the past decade. At its peak, the operator served more than two million subscribers, but persistent financial constraints, underinvestment in network infrastructure and increasing competition have steadily reduced its market share.

Latest industry figures show that Telecel now accounts for less than 2% of Zimbabwe’s mobile telecommunications market, with approximately 303,000 active subscribers recorded by the end of 2025. The company trails far behind market leader Econet Wireless Zimbabwe and state-owned NetOne.

The corporate rescue plan is intended to provide a structured framework for settling creditor claims while giving the operator an opportunity to stabilise its operations and preserve value for stakeholders.

Should the plan secure the required support from creditors and members, it could pave the way for the implementation of debt restructuring measures and a possible turnaround strategy for Zimbabwe’s third-largest mobile network operator.

Source – pindula

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HONG KONG — World shares mostly declined Thursday and oil prices slipped despite a flurry of strikes between the U.S. and Iran.

U.S. futures edged lower, while selling of AI-related shares weighed on benchmarks in South Korea and Japan.

In early European trading, Britain’s FTSE 100 fell 0.4% to 10,475.27. France’s CAC 40 also fell 0.4%, to 8,348.82. Germany’s DAX shed 0.3% to 24,926.60.

In South Korea, Seoul’s Kospi index sank 6.4% to 6,820.60. An interest rate hike by the Bank of Korea also contributed its tumble. It was the first rate hike by the BOK since 2023 and was aimed at helping curb inflationary pressures due to the Iran war.

Memory chipmaker SK Hynix dropped 11.5%, while Samsung Electronics fell 8.8%.

Taiwan’s Taiex ended nearly unchanged. Taiwan computer chipmaker TSMC gained 1.2% ahead of its earnings report. After the market closed, TSMC, often seen as a barometer for the global industry and for the boom in artificial intelligence, announced an additional $100 billion in investments in U.S. computer chipmaking capacity, along with record earnings in the last quarter and higher revenue growth forecasts.

In Amsterdam, Dutch chip machine maker ASML’s shares rose 0.9% early Thursday following TSMC’s stronger-than-expected results.

In other Asian trading, Tokyo’s Nikkei 225 fell 2.8% to 66,835.54. Shares of Japanese memory chipmaker Kioxia skidded 15%. Chipmaking equipment company Tokyo Electron dropped 4.5%, while chip testing equipment maker Advantest gave up 5.9%.

SoftBank Group shed 6.3%.

Hong Kong’s Hang Seng was a regional outlier, gaining 1.3% to 25,008.60. Technology giant Alibaba’s Hong Kong-traded shares climbed 3.1%, after China’s cyberspace regulator said Wednesday it had approved the Apple Intelligence AI tool for use in China. An Alibaba spokesperson said its Qwen model will be integrated into Apple Intelligence.

The Shanghai Composite index dropped 1.9% to 3,882.41.

Australia’s S&P/ASX 200 closed flat at 8,840.70, while India’s Sensex picked up 0.2%.

Oil prices meandered, remaining at elevated levels as the U.S. intensified its strikes against Iran, while Iran targeted missile and drone fire on Kuwait and Bahrain.

Brent crude, the international standard, dropped 0.3% to $84.68 a barrel. It was trading near $72 per barrel in late February before the war began.

Benchmark U.S. crude slipped less than 0.1% to $79.57 per barrel.

On Wednesday, Wall Street’s benchmark S&P 500 rose 0.4% and the Dow climbed 0.3%. The technology-heavy Nasdaq composite added 0.6%.

A U.S. report showing inflation slowed in June and strong earnings results from American investment company BlackRock among other major firms also helped push the market higher. BlackRock’s shares rose 6.6% after it reported stronger-than-expected quarterly revenue and profit.

In other dealings early Thursday, the U.S. dollar fell to 162.14 Japanese yen from 162.19 yen. The euro rose to $1.1467 from $1.1464.

Source: AP

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ATLANTA — Lionel Messi delivered for his teammates.

With one more win, he’ll be delivering another World Cup trophy to Argentina.

Messi didn’t add to his tournament-leading goal total, but the 39-year-old assisted on two late strikes that carried La Albiceleste to another stunning comeback and a 2-1 victory over England in the semifinals Wednesday.

“Leo is still performing at the highest level,” England captain Harry Kane said. “I felt like for large parts of the game, we dealt with him really well. But as always with the most dangerous players in the world, when they have the ball in the final third, they can be place-setters. And he did that again today. He’s obviously one of the best players ever for a reason.”

Eight days after an improbable rally against Egypt in the round of 16, Messi returned to Atlanta to produce another stellar moment in a career that might already be the best of anyone to play the sport.

England was surely envisioning going for its first World Cup title since its only one six decades ago after a 55th-minute goal from Anthony Gordon.

But Messi and his blue-clad teammates, as they have shown over and over again, are never done. Now it’s on to face Spain in the final on Sunday with a chance at becoming the first repeat champion since Brazil in 1958 and 1962.

In the 85th minute, with England hanging on for dear life, Messi pushed out a short corner, immediately got the return pass and spotted Enzo Fernández lurking in the middle of the field, 25 yards from the goal. Fernández ripped a curling shot past goalkeeper Jordan Pickford to even the score.

At that point, it seemed inevitable that Argentina would pull out the victory.

And that’s just what happened, with Messi again the orchestrator. Two minutes into stoppage time, he suddenly turned on the speed as he raced toward the end line, gaining enough space to send a pinpoint cross into the area at the back post. The ball cleared six English players, setting up Lautaro Martínez to effortlessly head home the winning goal after slipping between two defenders.

It was a poignant moment for Martínez, all of it made possible by his captain.

“This is really powerful,” he said in Spanish, fighting back tears. “The first time my old man bought me a pair of soccer boots, I always dreamed of scoring this goal.”

From there, it was just a matter of protecting the lead, which Argentina did easily.

When the final whistle blew, Messi dropped to his knees in the middle of the field, pumping his fists.

American sports stars were in awe of what they had just witnessed.

“WOWWWWWWW,” the NFL’s J.J. Watt posted on X.

“Argentina is unreal,” added NBA champion Jalen Brunson, also on X.

Messi played for years in the shadow of the late Diego Maradona, the pride of Argentina who led the country to a World Cup title in 1986 that included two memorable scores — the “Hand of God” and the “Goal of the Century” — in a quarterfinal win over England.

Now, it’s Messi who has stamped his legacy with a triumph over one of Argentina’s most bitter rivals.

“Seeing Messi playing football like this, at his age, it just leaves me speechless,” said Matías Adorno, who turned out in Messi’s No. 10 jersey to celebrate with thousands or revelers in central Buenos Aires. “As Argentines, we’ve always put so much pressure on him. But he’s achieved everything I could imagine.”

Messi remains even with Kylian Mbappé of France in the goals race for the Golden Boot, with both stars having scored eight times. But with two assists, he moved ahead of Mbappé in that category, which is the first tiebreaker for the award. Mbappé has a chance to retake the lead in Saturday’s third-place match against England.

Messi is also the World Cup career scoring leader with 21 goals.

But what he really wants is another title.

He’s one win away.

___

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LUSAKA, Zambia – Zambia’s former Vice President Guy Scott, who in 2014 became Africa’s ​first white head of state ‌in two decades when he briefly served as acting president, has died at the age ​of 82, the government said ​on Wednesday.

Scott died in Lusaka at his ⁠farm in the Leopards Hill area ​after an illness, the government said ​in a statement.

Scott served as vice president under “King Cobra” Michael Sata from 2011 to 2014 and ​became acting president after Sata’s death ​in October 2014, serving until January 2015.

Scott’s brief ‌tenure ⁠made him Africa’s first white head of state in two decades, since South Africa’s F.W. de Klerk left office ​in 1994.

A ​Cambridge-educated economist ⁠born in Zambia to Scottish parents, Scott was constitutionally barred ​from running in the subsequent presidential ⁠election because both his parents were not born in Zambia.

President Hakainde Hichilema has ⁠accorded ​Scott a state funeral, ​according to the government statement. – Reuters

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A Decade Undone: The Stolen Years and Newfound Hope of Simbarashe Chadiwa GOKWE – In the quiet, sun-drenched expanses of Mairosi Village, under the watchful eye of Chief Gumbero, a man is quietly performing a miracle. He is rebuilding a life that was systematically dismantled by a decade of wrongful incarceration. Simbarashe Chadiwa, now 35, […]

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