News

A lion called Cecil from Zimbabwe hit the headlines this week. He had been shot by a dentist from Minnesota as part of a high-end bow hunting trip to Gwaai Conservancy on the edge of Hwange National Park.

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Speaker of Parliament Jacob Mudenda has lamented the poor attendance of Members of Parliament and has accused some of “cheating” by attending sittings for a short period before leaving the House resulting in most of the members’ motions being debated in the absence of a quorum.

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Sugar refiner starafricacorporation says it has reached an agreement to sale subsidiary Bluestar Logistics but is still looking for takers for its 33 percent stake in Tongaat Hulett Botswana (THB) to raise funds to make part settlements to creditors and proposed a debt to equity swap to improve its balance sheet.

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That is what the private local media says. One said China told Mnangagwa that it would not give Zimbabwe any bail out unless Harare pays back Beijing loans totaling $1.5 billion first.

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The local unit of Barclays Bank Plc’s profit for the half-year to June fell 24 percent to $1.3 million from $1.7 million in corresponding period last year on higher operating expenses, the bank reported on Friday.

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South Africa’s Eye Witness News reported last week that Cecil, the lion which was killed by an American dentist, was the biggest international news from Zimbabwe since the 2008 elections which the Zimbabwe African National Union-Patriotic Front lost narrowly to the Movement for Democratic Change.

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Zimbabwe’s largest platinum miner, Zimplats slipped to a $32.6 million loss in the quarter to June from a profit of $6.8 million in the previous quarter after sales for platinum group metals (4E) fell 35 percent and poor commodity prices.

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Atlas Mara, the London-listed financial services group founded by former Barclays Plc chief executive Bob Diamond and Ugandan billionaire Ashish Thakkar, has completed the sale of its 10 percent stake in Brainworks Capital Management for nearly $9 million, the company said on Thursday.

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Troubled Cotton Company of Zimbabwe (Cottco), sub-Saharan Africa’s largest ginner and marketer reported a $30.2 million loss for the full-year to March from a profit of $14.9 million last year citing poor lint prices and low margins.

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First Lady Grace Mugabe yesterday urged children to be serious with their education saying they should stop seducing men because education should be their first husband.

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