Zim News Blog -NEWS NETWORK

Source: Debt haunts Makamba firm – The Standard March 31, 2019

James Makamba

BY MTHANDAZO NYONI

JAMES Makamba’s investment vehicle — Kestrel Corporation (Private) Limited — has been put under provisional judicial management over a US$2,8 million debt arising from a transaction that involved Empowerment Corporation (EC).

EC is owned by prominent businessman George Manyere.

Winsely Militala of Petwin Executor and Trust Company has been appointed provisional judicial manager.

According to court papers, Manyere who is the director of Ecsponent (Private) Limited, approached the Bulawayo High Court in November last year seeking the placement of Kestrel under provisional judicial management.

The businessman wanted to recover US$2, 750 000 which he paid Makamba as a deposit for the purchase of 690 000 ordinary shares in EC.

Manyera said the parties signed two agreements of sale for the purchase of 69% of Kestrel shares in EC.

He said the conditions set in both agreements have all been fulfilled, including lodging of the balance for payment with Gerald Mlotshwa and Co Legal Practitioners but Makamba continued to avoid completion of the sale of the shares.

In his ex parte application, Manyera alleged that Makamba has, using Kestrel’s control of EC, externalised, through violations of the country’s exchange control regulations, hundreds of thousands of United States dollars.

He said only the placement of his company under provisional judicial management would allow for a proper and objective consideration of all of its affairs, its management, liabilities and obligations.

“It is applicant’s prayer that respondent company be placed under provisional judicial management to that its assets, particularly the shares in EC are protected from other legal action occasioned by Makamba’s mismanagement of the respondent to the prejudice of the applicants,” he submitted.

In his ruling handed down on March 19, Bulawayo High Court judge, Justice Thompson Mabhikwa granted that Kestrel Corporation be put under provisional judicial management.

“…..the respondent, Kestrel Corporation (Private) Limited, be and is hereby placed under provisional judicial management and subject to the supervision of this court, shall be under the management of a provisional judicial manager appointed in terms of 299 of the Companies Act but according to section 300 of this Act,” reads the ruling in part.

“The Master is hereby directed to appoint as provisional judicial manager of respondent, with the powers and duties set out in Section 303 of the Companies Act (Chapter 24:03).”

Mabhikwa ordered that any interested party should show cause to the court sitting in Bulawayo on May 23, 2019 on why the company should not be placed under judicial management for an indefinite period.

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Source: Bikita reels from Cyclone Idai’s wrath | The Standard (Zimbabwe Stories)

BY SIMBARASHE MTEMBO

Seventy-three-year-old Theresy Chikwaku of Chimbidzikai Village under Chief Marozva in Bikita sobbed as she narrated how nature’s wrath robbed her of a two-roomed house she had just finished building.

She is one of the hundreds of Bikita villagers in that predicament after Cyclone Idai ravaged the area.

Shelter is problem number one in the cyclone-hit district after houses collapsed under the relentless rains that pounded the area for three continuous days.

The other problem that has swept through Bikita is the large number of blair toilets that have collapsed, sunk into the ground or were left so unstable that getting inside them is a big risk.

Villagers are now using bush toilets and it has become messy and there is fear of a cholera outbreak or other communicable diseases.

“Maybe it’s because blair toilets here are made of weak materials because almost all of them have collapsed and we are using the bush and the whole place is now very messy. We need assistance to build new toilets,” said Kiriana Mada.

Chikwaku, who acknowledges receiving food aid from donors in Masvingo through the provincial Affairs minister office said it took her two years to complete building the house, which was destroyed in a matter of seconds by Cyclone Idai. She does not have the power or resources to start afresh and has lost all hope.

“I am grateful to be alive, but in deep pain. It took all my resources to build this two-roomed house, which was destroyed in a few seconds. I am in shock and in no position to rebuild,” Chikwaku said.

“My son is a groundsman in Harare, and he cannot afford to come home to rebuild this house. I do not have the resources to rebuild, I make less than $50 monthly.”

Such are the devastating effects of Cyclone Idai, which killed hundreds and left thousands homeless in Mozambique, Malawi and Zimbabwe over two weeks ago.

In Bikita, an estimated 1 206 houses were destroyed, according to district administrator Bernard Hadzirambwi.

Many Idai victims have been left with emotional wounds that will take forever to heal with some escaping death by a wisker.

Patricia Bhogodho (26), a mother of three, was nursing her seven-day-old baby in her kitchen when her roof was blown off by strong winds at night.

She contemplated death when her children broke down in tears begging her to protect them from the harsh weather.

Bhogodho said she managed to carry all three children and ran into her bedroom where they hurdled into a corner for safety.

“I am still in shock, I was breastfeeding my child when my roof was blown away and the heavy rains began pounding us.

“I was stunned and realised the gravity of the situation after my children begged me to protect them.

“My husband was sleeping and when he heard the children cry, he ran to our aid and we hurdled in a corner as water was flowing into our bedroom. My children are safe and were not injured,” said a visibly shaken Bhogodho

Aletta Munhundiripo (54) of Mutamba Village under Chief Marozva said she was lucky to be alive after two of her dagga huts gave in while she was seeking safety in one of them.

She said cheating death twice in one day and losing five dagga huts in three days had left her desperate.

“My bedroom collapsed around 3am while I was sleeping, and then I was almost struck by the falling debris.

“I escaped to my kitchen, which also gave in as I was lighting a fire to keep myself warm,” Munhundiripo said.

“I am scared by what happened but grateful to be alive, I sought shelter at my sons’ house and I am staying there until I complete rebuilding my huts.

“The tragedy has taken a toll on my being and my son’s children are being forced to sleep in the kitchen because of this.”

Chief Marozva said they were conducting a community assessment before assisting villagers rebuild model homes and toilets at affordable cost.

He also said donations were pouring in from the business community and well-wishers.

“We are working together with Bikita Minerals in conducting community assessment projects after which, we will design model houses and toilets for the affected families,” he said.

“I applaud all those who have donated to the affected families.”

Prayer Tasara (24) from Tauya Village, whose two-roomed cottage’s roof was torn off said he escaped death by a whisker after he decided to hide under his bed.

He lost property valued at RTGS $1 500 after water submerged his property before he decided to seek refuge at a neighbours place, a kilometre away.

The post Bikita reels from Cyclone Idai’s wrath appeared first on The Standard.

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Source: Zim reforms impress US | Sunday Mail

Sharon Munjenjema

Reforms being implemented by the President Emmerson Mnangagwa-led Government are positive and a reflection of great urgency to transform the country economically and politically, United States Ambassador to Zimbabwe Brian Nichols has said.

In an interview on the sidelines of the US’ Women’s History Month commemoration film screening in Harare last week, Ambassador Nichols said Harare was on the right path.

“This Government has been working towards reform. I have been impressed and I have always said so . . . I know that the Cabinet has approved the principles for the repeal of POSA (Public Order and Security Act) and has been discussing repeal of AIPPA (Access to Information and Protection of Privacy Act) and those are all very positive things,” he said.

“I think that there is great urgency both politically and economically to continue down the road of reform as this administration has laid out, and we encourage them to pursue those reforms as well as to address the outstanding recommendations… All of this is very positive and I believe that if this Government pursues them, the international community will respond.”

Government is currently working on sweeping political and economic reforms, some of which are feeding off from recommendations made by the various election observer missions during last year’s harmonised elections, the Motlanthe post-election violence report and input that will be generated from the ongoing inter-party dialogue.

A lot of American investors, Ambassador Nichols said, are interested in doing business with Zimbabwe.

He said: “I think there is a lot of interest. I was in South Africa a couple of weeks ago and met with a number of US companies interested in doing business in Zimbabwe. One of the key challenges (they cited) was with the exchange rate.

“I encourage the Government to continue the process of liberalising the exchange rate and allow the allocation of forex-based market principles. I think that will deepen the ability of companies to do business here.”

Washington was particularly interested in the rule of law and economic transparency.

“The (ease) of doing business legislation that Government has put forward is a positive step and should be adopted rapidly,” he said.

Government was also commended for its determined efforts to promote women empowerment.

The US government, through the US Agency for International Development (USAID) Office of Foreign Disaster Assistance, has provided more than US$100 000 to respond to emergency needs following the devastating effects of Cyclone Idai.

It is believed that the money will be used to support interventions to deliver safe water, shelter, sanitation and hygiene in some of the worst-affected areas in Manicaland province.

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ZANU PF leader President Emmerson Mnangagwa, has warned his government is ready to use brute force to deal with any violent protests in the country. Mnangagwa unleashed the army in January this year, to crush [...]

Source: ED swarmed in Kwekwe shop | Sunday Mail

Freedom Mupanedemo and Michael Magoronga in Kwekwe

President Emmerson Mnangagwa was yesterday forced to abort his shopping at OK supermarket in Kwekwe after an enthusiastic crowd instantaneously swarmed the shop jostling for  ‘handshakes, selfies and a glimpse’ of him.

The President casually walked into the supermarket at about 1 pm, attracting followers who had abandoned their businesses in the environs of the shop.

The crowd followed him, as he walked around the shop, cheering and whistling — in an apparent excitement after an unusual up-close with the Head of State.

OK Kwekwe branch management had to temporarily close the shop in a bid to restore order after The President had left.

Kwekwe is President Mnangagwa’s home town and according to OK Kwekwe supermarket management, he has been a regular client for the last 20 years.

Yesterday the President, who usually spends weekends at his Kwekwe farm, had gotten into the shop intending to purchase some grocery items and also have first hand general experience.

When The Sunday Mail arrived at the supermarket, the President was already walking out without shopping with people still mobbing him.

His security personnel had a torrid time controlling the crowd that wanted time with their leader.

In his usual jovial mood, the President went about greeting and shaking hands with the insistent crowd as he was accompanied out of the shop by security to his vehicle.

Before stepping into the vehicle, the President waved to the crowd, a gesture that prompted a rapturous response in jovial cheers with some shouting “zvaitwa Murambwi! Shumba!”.

The President’s totem is Shumba Murambwi.

Management at the shop had to instruct its security to close the shop doors to contain the crowds soon after the President had left.

One of the supermarket’s line managers interviewed said the President has always been a regular client of the supermarket.

“The President (Mnangagwa) is our regular client for the last 20 years. He has a farm in Sherwood and he would come and do his groceries for the house and farm here even before he became the President of the Republic of Zimbabwe.

“When he became President, he also came and I think today is the third time he has been here,” said the manager who declined to be named citing company policy on speaking to the media.

President Mnangagwa surprised many people last year when he made a stopover at a food outlet in Chegutu to buy some food.

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