NetOne CEO Mushawani under fire for alleged ‘ghost money scheme’ blames hackers
By Staff Reporter Harare – NetOne Chief Executive Officer Raphael Mushawani, is facing serious allegations of economic misconduct that reportedly drained the economy of ZWG$30 million. Sources indicate that two weeks after introducing the ZiG currency in May, Mushawani’s team within the Mobile Financial Services department (OneMoney) allegedly manipulated the system to create ‘ghost money’ […]
Retailers threaten closure amid exchange rate turmoil
By Marshall Bwanya Harare – Leading Zimbabwean retailers issued a stark warning on Monday, stating that they could be forced to shut down due to severe exchange rate distortions and stringent enforcement measures imposed by the Central Bank. Retail giants including Edgars, OK, TM Pick n Pay, Metro Peach and Electrosales highlighted the discrepancy between […]
CBZ, ZB merger triggers top level layoffs
By Marshall Bwanya Harare – The merger between CBZ Holdings and ZB Bank has led to a significant restructuring within the combined financial institution, resulting in the termination of 13 top-level executives. In a statement released over the weekend, CBZ Holdings Group Chief Executive Officer, Lawrence Nyazema, announced that the restructuring would affect all companies […]
U.S. Ambassador flags corruption, human rights abuses as investment barriers
By Marshall Bwanya Harare – The U.S. ambassador to Zimbabwe, Pamela Tremont, has described corruption, human rights abuses, and poor fiscal policies as significant hurdles to American investment in the country. Speaking during a recent interview on the Breakfast Club hosted by local journalist Zenzele Ndebele, Tremont’s remarks came in the wake of state-sponsored corruption […]
Mtukudzi family feud rages amid Selmor’s emotional breakdown down on stage
By Staff Reporter Norton – The bitter feud within the Mtukudzi family reached a new low during the inaugural Mtukudzi International Festival of the Arts (OMIFA) held at Pakare Paye Arts Centre in Norton. Selmor Mtukudzi, the daughter of the late music icon Oliver Mtukudzi, abruptly ended her performance on stage amidst tears and visible […]
African Sun moves to unlock value with more asset disposals
By Marshall Bwanya Harare – African Sun Limited, a leading hospitality group, has announced plans to further streamline its operations through the disposal of additional non-core assets. This move follows the recent sale of the Great Zimbabwe Hotel and Beitbridge Express Hotel to TD Hotels for a combined US$7 million. The company cited deteriorating trading […]
Mnangagwa snubs UN summit amid Zanu PF factional tensions and safety concerns
By Marshall Bwanya Harare – President Emmerson Mnangagwa abruptly cancelled his trip to New York for the United Nations General Assembly, ordering advance officials, aides, and state journalists already in the U.S. to return home. Mnangagwa’s unprecedented move to snub UNGA’s 79th session comes in the aftermath of growing tensions within Zanu PF which have […]
UDCORP CEO Joey Shumbamhina unveils profit-driven transformation strategy
By Marshall Bwanya Harare – The Urban Development Corporation Zimbabwe (UDCORP), has successfully transformed from a loss-making entity into a thriving profit-generating organization. The Corporation’s CEO, Joey Shumbamhina, attributed this remarkable turnaround to a focused strategy, “Transformation Restore UDCORP’s Prosperity,” approved by the board in April 2023.UDCORP reported an impressive inflation-adjusted profit of ZWL$3.79 billion […]
Shoko Festival unveils game changing Mash Up Night concept
By Marshall Bwanya Harare – Zimbabwe’s premier festival of urban culture, the Shoko Festival, is set to host the highly anticipated Mash Up Night at Harare Gardens on September 27. This year, Mash Up Night will blend hip hop, dance, and theater, celebrating Zimbabwe’s vibrant urban culture and diverse soundscape. The event promises over 15 […]
Former RBZ governor Gideon Gono issued warrant of arrest over fraud case
By Staff Reporter Harare – A warrant for the arrest of former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono, has been issued after he failed to appear in the Harare Magistrates Court on Monday. His representative George Mashonganyika, has received the warrant on his behalf. Gono is involved in a fraud case against Beverly […]