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In a scene that seems to be straight from an African movie, a well-known prophet from Kuwadzana 4 was arrested after he was caught with two snakes in his bedroom. The police discovered the snakes, black mamba and a green mamba stashed in pillowcases under the bed of prophet Comrade Chinyanga, after his wife Jane […]

Source: Zimbabwe corporates launch Cyclone Idai ‘Reboot Fund’ | The Herald April 4, 2019

Top Zimbabwean private companies  yesterday announced the launch of an initiative called Reboot  Fund, aimed at raising at least RTGS$100 million (about US$35 million)  to assist in the rebuilding and reconstruction in areas that were  devastated by Cyclone Idai three weeks ago.

The tropical cyclone, which originated from Mozambique and passed  through Zimbabwe, left a trail of destruction killing nearly 300  people to date, hundreds still unaccounted for, over 20 000 displaced  and millions of dollars worth of housing and infrastructure washed away.

The affected areas, which are mainly in rural Zimbabwe, also saw families losing their livestock such as cattle, goats, sheep and  poultry.

Three of Zimbabwe’s top companies, Old Mutual, Econet Wireless, United  Refineries Limited (URL) and little known Vinal Investments and  Miracle Missions have joined hands to establish the Reboot Fund.

“Let us all come together, each one bringing what they have to the  table towards our RTGS $100 million Reboot Fund goal,” the fund said.

The fund said it is still open to new partners and is also taking  donations from well-wishers.

“The extent (of destruction) is dire and the need overwhelming, but  what is impossible for one can be made possible when many rise to the call.

“Zimbabwe needs your help,” the fund said in its rallying call  for support.

“Let us play our part and rebuild our nation, together we can do  this.”

An interim board of trustees made up of Old Mutual chief executive,  Jonas Mushosho, Econet CEO, Douglas Mboweni, URL chief executive,  Busisa Moyo as well as Vinal chairman Shingi Munyeza and Miracle  Missions trustee, Jaqueline Anderson has been set up and will be  responsible for the fund. –  New Ziana.

The post Zimbabwe corporates launch Cyclone Idai ‘Reboot Fund’ appeared first on Zimbabwe Situation.

Source: Chivayo case in new twist | Newsday (News)

BY DESMOND CHINGARANDE

Former Zimbabwe Power Company chairperson Stanley Nyasha Kazhanje yesterday denied allegations that he received a $10 000 bribe so that he does not cancel a 100 megawatt Gwanda solar panel station project tender won by Intratrek Zimbabwe.

Kazhanje, who appeared before magistrate Hosea Mujaya, however, said a company in which he was a director had carried out some consultancy work for Intratrek Zimbabwe, fronted by flamboyant businessman Wicknell Chivayo, prior to his appointment to the ZPC board.

But he claimed he did not influence decision-making as far as Intratrek was concerned because the ZPC board had “qualified and capable members of various educational and professional backgrounds”.

State witness, former Energy deputy minister Munacho Mutezo also said Kazhanje was an engineer who does consultancy work for various clients and as ministry they did not know his clientele.

Mutezo told the court that he was not sure if Kazhanje disclosed his personal interests in the project when he was appointed chairperson and did not know when he started doing consultancy work for Intratrek Zimbabwe.

The matter was adjourned to late yesterday to allow the defence team, led by advocate Silvester Hashiti and Garikai Mhishi, to peruse through minutes of the meeting that Kazhanje is alleged to have disclosed his interests.

Allegations are that on October 23, 2015, Kazhanje signed an engineering procurement and construction of a 100 megawatt solar panel station project with Intratrek Zimbabwe.

It is alleged that Kazhanje, during the engagement, failed to declare his interests. It is the State’s case that during the period December 11 to January 20, 2016, ZPC made advance payments of $1 236 154 to Intratrek for the implementation of the project. However, Intratrek did not fulfil its obligation and this resulted in ZPC management suggesting termination of the contract.

The State alleges that on January 21, 2016 under unclear circumstances Kazhanje received $10 000 into his Barclays Bank personal account from Intratrek CBZ Bank account.

Kazhanje in his capacity as ZPC chairperson presided over a meeting in which it was resolved that ZPC must pay services direct to Intratrek sub-contractors instead of terminating the contract.

It is further alleged that this resulted in ZPC paying $4 387 849 as advance payment despite the fact that Intratrek had not fulfilled its obligation.

It is the State’s case that the $10 000 deposit and the subsequent resolution not to terminate Intratrek’s contract gave rise to reasonable suspicion that Kazhanje was influenced by this payment to decide in favour of Intratrek.

The post Chivayo case in new twist appeared first on NewsDay Zimbabwe.

The post Chivayo case in new twist appeared first on Zimbabwe Situation.

Source: RTGS$30m kitty for distressed firms | The Herald April 4, 2019

Minister Nqobizita Mangaliso Ndlovu

Africa Moyo Senior Business Reporter
GOVERNMENT has allocated RTGS$30 million to the Industrial Development Corporation of Zimbabwe (IDCZ) for extension to distressed companies.

This was said by Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu on Monday during his meeting with business member organisations (BMOs) and IDCZ officials in Harare.

Minister Ndlovu said the sanctions imposed by the United States and its Western allies since the turn of the millennium, have adversely impacted on the operations of many local companies, resulting in untold job losses.

He said it has become apparent that distressed companies be capacitated so that they ramp up capacity utilisation and employ more people in line with Government’s thrust of providing decent jobs to citizens.

Further, reviving industry is expected to transform the country into an Upper Middle Income economy with a per capita income of US$3 500 by 2030.

Said Minister Ndlovu: “We have made significant strides in our efforts to help bring back to full operations companies that have over the last two decades succumbed to the ruinous illegal sanctions imposed on the people of Zimbabwe.”

He added that Government remains convinced that most of the distressed companies are critical for the revival and growth of the economy.

“For some, their closure has left a vacuum that we currently fill with imports and this is unsustainable. Jobs have been lost in the process and we need to regain them.

“In this regard, the IDCZ is realigning its mandate to play its DFI (Development Finance Institution) role, which will see it play a leading role in the programme of resuscitating distressed companies.

“The Government allocated RTGS$30 million to IDCZ specifically for this purpose but mobilisation will be extended to the private sector so that we crowd fund and reach out to more companies in need,” said Minister Ndlovu.

Already, a database has been created of the companies and the IDCZ is working on an implementation plan to this effect.

Recently, the US Embassy in Zimbabwe posted on its Twitter handle that it still has about 84 individuals and 56 entities on the embargos, but insisted that the sanctions do not affect the approximately 16 million people.

“ . . . Sanctions do not target the people of Zimbabwe. #Truth: The US does not maintain comprehensive sanctions against Zimbabwe. Suggestions that the US intends to harm the Zimbabwean people with sanctions are false and misleading,” said the US Embassy in Harare.

However, analysts say it is bizarre how the US would claim that sanctions were not designed to hurt ordinary people when companies they are supposed to work for cannot borrow or move their clients’ funds.

 

The post RTGS$30m kitty for distressed firms  appeared first on Zimbabwe Situation.

THE Constitutional Court (Concourt) has outlawed judicial corporal punishment, saying it amounts to inhuman and degrading punishment. Chief Justice Luke Malaba, sitting with eight other judges of the apex court, ruled that such inhuman treatment [...]