Zim News Blog -NEWS NETWORK

Yeukai Karengezeka

Court Correspondent

The four University of Zimbabwe students who defaced church, court and Parliament buildings in central Harare by spray painting on them were denied bail yesterday by Harare magistrate Ms Learmore Mapiye and remanded in custody to June 21 on charges of malicious damage to property. 

They drew graffiti on the outside walls of the High Court of Zimbabwe, the old Parliament building, the Methodist Trinity Church and the Constitutional Court.

 Emmanuel Sitima (24), Comfort Mpofu (22), Tawanda Watadza (24) and Lionel Wadamombe (24) are each facing seven counts of malicious damage to property.

Ms Mapiye denied them bail stating that the four were likely to team up with others and commit similar offences.

“The State has a strong case, if the accused are released on bail, they will team up with others who are outside to commit further offences, and those still at large pose a threat to the ongoing investigations,” she said.

“The buildings which were tainted including the Parliament of Zimbabwe are serious buildings, therefore, the bail application is dismissed.” 

Allegations are that on May 14, 2023, the four, together with others who are still at large, went around the city centre protesting the continued refusal of the courts to grant bail to CCC legislator and deputy national chairman Job Sikhala.

They spray-painted and defaced several building walls in the city without the consent of the owners while demanding the immediate release of Sikhala who has three pending cases before the courts.

Oliver Kazunga

Senior Business Reporter

COMPANIES in the construction sector continue to enjoy healthy business from the various key public infrastructure projects being implemented by the Government, which has been consistent in terms of making timeous payments to the contractors, an industry executive said.

The Government has identified infrastructure as one of the key economic enablers and priority has been placed on infrastructural development including road habilitation, dam and housing construction.

Zimbabwe’s infrastructural development initiative also dovetails with the Government’s vision of transforming the country into an upper middle-income economy status by 2030, anchored by the National Development Strategy 1 (NDS 1), a five-year economic blueprint launched in 2021.

Construction Industry Federation of Zimbabwe (CIFOZ) chief executive officer Mr Martin Chingaira said in an interview in the first quarter of the year, infrastructural development by local contractors sailed ahead smoothly.

“We are still in business, all the projects such as the Harare-Masvingo-Beitbridge highway rehabilitation project awarded to local contractors are going on smoothly.

“Quite a number of people are being subcontracted, over and above the Emergency Road Rehabilitation Programme (ERRP 2) and the projects are going on smoothly across the country with people (contractors) being paid on time,” he said.

Private sector players are participating in phase 2 of the $70,5 billion Emergency Road Rehabilitation Programme.

Mr Chingaira said on the rare occasions in the past when payments were delayed it was for projects whose funding the Government would not have mobilised yet.

“In the past, there were instances where the Government would invite tenders for projects whose funding would not have been mobilised despite being budgeted for in the National Budget and this created situations where payments get delayed.

“However, at the moment we are excited that payments are being made on time and we also urge our members to go for projects whose funding is available,” he said.

In the 2023 National Budget, Finance and Economic Development Minister Professor Mthuli Ncube said the Government would continue prioritising the upgrading and rehabilitation of the country’s road network.

The Government has also placed emphasis on the completion of the ongoing works on major roads and regraveling of feeder roads.

The Government is also financing the construction of dams including Gwayi-Shangani in Matabeleland North province which is expected to be completed this year.

Once complete, the massive water body will propel sustainable economic growth and development through fostering projects such as irrigation in the Gwayi area, tourism and recreational facilities as well as supplying water to Bulawayo, Zimbabwe’s second-largest city that experiences perennial water challenges.

The awarding of infrastructural development tenders to local players, Mr Chingaira said, was promoting the viability of main contractors, sub-contractors and suppliers of building materials.

“The policy that ‘a country is built by its people’ the Government has adopted has seen our people being considered in infrastructure development projects and this is fostering viability of local construction companies,” he said.

Business Reporter

Chengetedzai Depository Company (CDC) says it is working to improve its product offering to better meet customer needs through the introduction of a mobile application and US dollar settlements.

Mr Prosper Mutorogodo, the company’s chief executive, said amid the accelerated adoption of digital technology on global markets, CDC saw opportunities in expanding its digital offerings.

“The company’s focus will be on the ongoing improvement of its products, stakeholder relationships, systems, and procedures to better serve the market and compete with other market players.

“CDC Central Securities Depository (CSD) is geared to implement USD settlement in the short term as preparations are now at an advanced stage where CDC CSD will also be offering services on USD-based exchanges,” he said in CSD update for April 2023.

Mr Mutorogodo added that announcements to investors, participants, and issuers will be made in the short term to this effect.

CDC, which already offers its CSD services on the local currency-denominated Zimbabwe Stock Exchange, intends to extend its offerings to the US dollar-based Victoria Falls Stock Exchange.

For the month under review, the Zimbabwe Stock Exchange (ZSE) market capitalisation increased by 2,99 percent for April 2023, closing at $3 482 41 billion.

“The total turnover for trades on the ZSE settling through Chengetedzai CSD was $14 518 74 million for the month under review,” said Mr Mutorogodo.

CDC CSD opened 212 new accounts in April 2023, resulting in 997 accounts being opened year to date.

As a result, the cumulative number of accounts opened on the CDC CSD as of   April 31, 2023 was 44,978.

Local investors accounted for 95,07 percent, and foreign investors accounted for 4,93 percent of all accounts opened on the CSD as of April 2023.

Mr Mutorogodo said individuals hold the largest number and proportion of accounts on the CSD and the other large portion of CSD accounts falls under the unclaimed shares.

“This has prompted the CSD to go on a market drive where efforts have been increased to identify those making up the unclaimed shares category so that they claim their shares,” he said.

According to the update, dematerialised securities registered on the CDC CSD accounted for 41,70 percent of the total ZSE market capitalisation and their total value was $1,452,69 billion as of April 2023.

Mr Mutorogodo said the investor types that hold the most significant value on CDC CSD were corporate, pension funds and insurance, which account for 32,21 percent, 21,67 percent and 15,62 percent respectively.

Individuals account for just 2,62 percent by value on the CDC CSD although they hold the largest number of accounts.

During the month under review, a total of 34 equities deposits were processed and this brought the cumulative number of deposits since going live to 103,795.

The average dematerialisation penetration ratio (Demat Ratio) across all counters was at 57,27 percent as of April 30, 2023.

Mr Mutorogodo said this shows a steady increase in the dematerialisation ratios from 2014 when the CDC CSD was launched.

“This is mainly through the realisation by investors of the safety of keeping shares in dematerialised form through continuous market education programs rolled out by the CSD and other capital market players,” he said.

According to the report, the cumulative number of trades processed in 2023 closed at 18,384.

Zvamaida Murwira

Senior Reporter

At least 7 000 projects have been implemented with 5 000 completed since 2018 across the country, as the Second Republic led by President Mnangagwa demonstrates commitment to deliver on its promises to transform millions of lives in its resolve to achieve an upper-middle class income economy by 2030.

The projects are being implemented both in the rural and urban areas in line with the objectives of the National Development Strategy 1 (NDS1).

They range from community schemes with a huge impact on ordinary people, to flagship projects critical to the achievement of the Vision 2030, resonating well with the mantra, “leaving no one and no place behind”.

This came out during yesterday’s post-Cabinet briefing delivered by Acting Minister of Information, Publicity and Broadcasting Services, Dr Jenfan Muswere.

He said Cabinet considered the provincial editions of compendia of projects implemented by the Second Republic during the period 2018 to 2022 as presented by the Minister of State for Presidential Affairs and Monitoring Implementation of Government Programmes, Dr Joram Gumbo.

“The projects implemented in the provinces reflect the Government’s commitment to deliver on its promises of improving the livelihoods of the populace in line with the developmental trajectory of leaving no one and no place behind.

So far, 163 projects have been completed in Bulawayo Metropolitan Province while 67 are ongoing.

In Harare Metropolitan Province, 121 projects have been completed while 146 are ongoing, giving a total number of projects in the area of 267.

In Manicaland, 777 projects are now complete with 174 underway. Mashonaland Central has 581 completed projects and 146 ongoing projects.

In Mashonaland East Province, 604 projects have been completed while 257 are ongoing, with Mashonaland West having 452 completed projects and 152 underway.

In Masvingo Province, 537 projects are complete with 140 are under construction, while in Matabeleland North Province, there are 435 completed works with 234 ongoing.

Matabeleland South has 523 completed projects with 277 ongoing, while Midlands has 791 completed projects and 292 ongoing projects.

Minister Muswere said the grand total of projects in all the provinces stands at 4 984 completed projects while 1 885 projects are ongoing.

He added that Cabinet approved the translation of the provincial editions of compendia of projects into the constitutionally recognised languages of Zimbabwe, for the benefit of all citizens.

Since its inception, the Second Republic has embarked on projects tailored to directly impact on ordinary citizens and communities, to flagship projects.

The projects include improving the transport sector through transforming the road network, and rehabilitation of trunk roads.

Some of the notable projects include the Harare-Masvingo-Beitbridge highway upgrading, and the repair of Cyclone Idai-induced damages to roads and other infrastructure.

Work has now started to rehabilitate the Harare-Chirundu Road, as the Government accelerates its desire to construct world-class roads, to improve the ease of doing business.

The Government also launched the Emergency Road Rehabilitation Programme to improve road infrastructure after being damaged by heavy rains.

Most roads are now trafficable after the intervention.

Other projects include modernisation of existing infrastructure such as the Beitbridge Border Post and the Robert Gabriel Mugabe International Airport, among others.

The rehabilitation of roads and construction of bridges has helped communities to safely cross rivers to access socio-economic amenities such as schools, clinics, markets and service .

Last month, President Mnangagwa commissioned the Rwenya Bridge in Mudzi, which was damaged by floods in 2013, and had disconnected Mashonaland East and Manicaland provinces from the northern side, and people could not easily move between Mudzi district and Nyanga.

Other projects include mass public transportation that saw the recapitalisation and resuscitation of Zupco, which now has 688 buses and 653 commuter omnibuses servicing communities at affordable fares.

Other projects include water and sanitation, which saw borehole drilling being rolled out under the Presidential Borehole Drilling Scheme.

There was also dam construction countrywide aimed at enhancing irrigation and generation of hydroelectricity, and other downstream benefits.

The Government embarked on energy projects meant to increase power generation and electrification of hundreds of rural institutions.

There have also been social protection measures aimed at helping vulnerable persons, including provision of school fees through the Basic Education Assistance Model, safe shelters for survivors of gender-based violence, and others.

There have been other projects in the area of digital economy, access to the justice delivery system including construction of magistrates courts in high density suburbs, housing and health delivery.

Government employees also got improved accommodation.

Community radio stations have also been established while engagement and re-engagement efforts to enhance the country’s attractiveness as a lucrative investment destination have been paced up.

Freeman Razemba

Senior Reporter

United Nations Secretary-General’s Special Envoy for Road Safety, Mr Jean Todt, yesterday arrived in Zimbabwe as part of the country’s commitment to co-operation under the United Nations system, and to the adoption of international best practices and standards on road safety.

Government is in the process of revising legislation, rules and regulations to come up with stiffer penalties for motorists who cause fatal road traffic accidents as a result of negligent driving and human error.

Mr Todt is a former rally driver and ex-chief executive of Formula One team, Ferrari.

Thereafter, he was appointed as Special Advisor to the UN Secretary General, where he has distinguished himself over the years.

Mr Todt, who recently visited East Africa to advocate the effective implementation of the Global Plan for the Decade of Action for Road Safety 2021-2030, which aims to halve the number of victims on the road by 2030, said he was willing to work with Government and the private sector on road safety.

“I have just come from Nairobi (Kenya) and before that I was in Addis Ababa in Ethiopia and I did a tour in East Africa to speak with the government, with the UN organisation, with the private sector because unfortunately we know that East Africa is a vulnerable area for road safety,” he said.

Mr Todt had always been impressed by the will of the Zimbabwean Government to put road safety on top of their agenda.

He said he will also work hand-in-hand with the private sector in the country and urged the media to play a pivotal role to put road safety on their priority list.

“We know that significant progress can be done, so we need to educate people, we need to make sure that everybody puts a proper helmet when driving or being a passenger on a motor bike, buckling safety belts in front and rear or a motor vehicle,” said Mr Todt. 

“Don’t drink and drive; don’t text and drive; and avoid speeding and if we are able to progress on those topics we will be able to achieve the Sustainable Development Goals which is to halve the number of victims on the road by 2030.

“A lot of work has to be done and I really count on my visit together with the Minister of Transport and Infrastructural Development and also with the President of Zimbabwe to speak on this important topic and with other members of the government and also with the private sector.” 

“I will start on the last point that was mentioned by Special Envoy Mr Jean Todt, that we need to observe the rules and regulations when it comes to road use,” he said. 

“And I am happy to say that at this juncture, as a nation, Zimbabwe, we are happy and delighted that the engagement and re-engagement process that are going on as a result of the mantra of His Excellency (President Mnangagwa) that we are open to anyone who is willing to do business with us. 

“I am delighted in the sense that now at this juncture, you know that we have been racing against time to make sure that we also have Statutory Instruments to mitigate the road carnage. 

“And I am happy that the Special Envoy here will address some of the concerns of the nation, where we are saying in terms of what we can do to reduce road carnage.

“His visit is very important for Zimbabweans so that as we then debate and negotiate and see how we can tap into the United Nations Road Safety Fund. 

“I am sure that it is also very important as a nation to say what can we do so that we reduce the carnage that we are witnessing. But above all the engagement process that is underway is something that is of great importance.”

In February this year, Minister Mhona met Mr Todt on the sidelines of the meeting of the 85th Inland Transport Committee in Geneva where they discussed practical ways of sharing and adopting international good practices and standards on road safety.

The two also discussed various topics, principally measures to strengthen their institutional capacity and review policy and legislative frameworks for effective road traffic management and regulation for secure and safe roads.

The meeting was also said to have focused on the technical assistance being extended to Zimbabwe to improve various aspects of road safety.

Last year, the UN funded the Zimbabwe Road Safety Performance Review and the visit by Mr Todt is a key signal that the UN system would be following through not only to assess progress, but also to fund the process.