MDC deputy chairperson Job Sikhala (JS) became the 21st person in Zimbabwe to face charges of attempting to subvert President Emmerson Mnangagwa's government after he allegedly told a rally in Bikita that the MDC would overthrow Mnangagwa before his term of office ends in 2023. Sikhala speaks to our...
THE opposition MDC says it is working with some of the ruling Zanu PF party legislators to impeach President Emmerson Mnangagwa, a legislator has revealed. Addressing a rally in his constituency, Epworth legislator Ethrage Kureva said the MDC party would soon be moving a motion to impeach Mnangagwa. “Among the processes...
Former Finance Minister Tendai Biti allegedly abused his position to direct the National Social Security Authority to sink $20 million into troubled Capital Bank (formerly Renaissance Merchant Bank) despite indications that the project was not viable, legislators heard yesterday.  NSSA general manager James Matiza told the Parliamentary Portfolio Committee on...
Zimbabwe Association of Pension Funds (ZAPF) is saying the introduction of Statutory Instrument (SI) 142 has reduced confidence in policyholders and shareholders in the pensions industry that has been on recovery path during the multi-currency regime. The multi-currency regime was introduced in 2009 after a decade-long hyperinflation which eroded prescribed...
Government has set up an inter-ministerial taskforce to deal with the fuel and energy crises which have seen most companies closing shop and production declining. Addressing a post Cabinet Press conference on Wednesday, Information minister Monica Mutsvangwa said the committee, which will comprise of Energy minister Fortune Chasi, Finance minister...
Former Mashonaland East Provincial Affairs minister, Ambrose Mutinhiri will see his tractors go under the hammer to settle a $54 000 debt with the State-owned power utility, the Zimbabwe Electricity Transmission and Distribution Company (ZETDC). Mutinhiri was dragged to court over an outstanding $54 798,86 debt to ZETDC and the...
GOVERNMENT has instructed its insurer to compensate holders of nostro accounts in closed banks in either US dollars or the equivalent in local currency, it was revealed. Currently, the Deposit Protection Corporation (DPC) is overseeing the liquidation of six banks, namely, Genesis Bank, Royal Bank, Trust Bank, Interfin Bank, Allied...
Opposition Movement for Democratic Change (MDC) leader Nelson Chamisa has warned President Emmerson Mnangagwa that “dark clouds are gathering” as Zimbabwe slides deeper into a political and economic crisis fuelled by fuel price increases and a worsening power shortage. Writing on his official Twitter page, Chamisa warned that “the time...
Zimbabwe has not had its own independent currency since hyperinflation wiped it out a decade ago. Instead it has relied on the US dollar along with a local money system pegged to the dollar. The economy is no longer in its extreme inflationary spiral, but the country has continued...
PRESIDENT Emmerson Mnangagwa says his administration has no immediate solution to dealing with illegal foreign currency trade despite admitting its role in the economic crisis. Last week, official figures showed that inflation nearly doubled to 175,66% in May from 97,85% in the previous month, revealing an economy already in hyperinflation,...
MDC legislator for Chiwundura, Livingstone Chimina, has embarked on a project to build a police sub-station in Woodlands in order to minimise criminal activities. When Southern Eye visited the site yesterday, artisans were working on the structure that has now reached window level on one of the sections. Chimina told Southern...