News about Zimbabwe that you can use
The Reserve Bank of Zimbabwe has banned loans to shareholders and directors of banks and is planning to amend the Banking Act to make it possible to prosecute shareholders, directors or senior managers who act negligently or fraudulently resulting in loss of money by depositors or failure of banking institutions.
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Old Mutual has R16.14 billion under its management in Zimbabwe, the third highest on the African continent excluding South Africa, the director of Old Mutual Investment Group Hywel George said.
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The Parliamentary Portfolio Committee on Environment, Water, Tourism and Hospitality Industry has urged the government to reconsider its position of charging Value Added Tax (VAT) to non-resident tourists as this risks pricing Zimbabwe out of business as it was not done anywhere else in the world.
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It’s all in God’s hands- Mugabe- President Robert Mugabe who turns 90 in exactly a month today said he did not know how he had lived this long. “It’s all in God’s hands,” he said at the funeral of his sister Bridget who was 12 years his junior. Bridget died on Sunday after spending three years on life support and was buried at the Mugabe rural home at Kutama in Zvimba. She collapsed at the burial of her elder sister Sabina in 2010 and was at Parirenyatwa Hospital until her death. Mugabe’s health has been under the spotlight for the past two weeks after the faceless facebook character Baba Jukwa claimed he had collapsed and died. Mugabe was on holiday in the Far East. Though his spokesmen said he was alive but on holiday, speculation went into high gear when Mugabe returned from holiday but was not shown on local television. The rumours were quashed on Sunday when Mugabe was seen on television welcoming people coming to pay their condolences. Even then the reports focussed on his health saying he was looking frail.
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The Movement for Democratic Change Women’s Assembly today said it was solidly behind party leader Morgan Tsvangirai and distanced itself from those calling on Tsvangirai to step down.
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President Robert Mugabe no longer has powers to pass laws which can be passed by Parliament so the three laws he passed this year may actually be invalid according to Constitution Watch prepared by a non-profit organisation Veritas.
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Air Zimbabwe was fleeced of nearly US$9.4 million in an insurance scam that involved top airline officials and implicated Secretary for Transport Munesu Munodawafa.
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