IN a new twist to President Robert Mugabe’s unpredictable succession battle, a group of generals in the army disgruntled by Zanu PF’s failure to resolve the issue are reportedly pushing for Zimbabwe Defence Forces Commander Constantine Chiwenga to take over from the ageing leader battling with ill-health.
THE Reserve Bank has placed financially-beleaguered ReNaissance Merchant Bank (RMB) under curatorship for six months after establishing that there was a systematic abuse of depositors’ funds, a high level of non-performing insider and related-party exposures that included a US$9,8 million loan to former CEO Patterson Timba, and gross violations of banking laws and regulations.
IN a bid to prevent more bank failures after the ReNaissance Merchant Bank was yesterday placed under curatorship for six months, Finance minister Tendai Biti has ordered Reserve Bank governor Gideon Gono to come up with a plan to save from collapse other vulnerable banking institutions in the market as part of broad measures to protect the struggling financial services sector.
FORMER Sadc executive secretary Prega Ramsamy said the regional bloc should block holding of fresh elections in Zimbabwe until all necessary conditions for holding of free and fair polls were in place.
POLITICAL leaders in developing countries have become notorious for unilaterally extending their terms of office without a mandate from the electorate. Be it in Egypt, Libya, Cuba, Uganda or Harare, there is always the same justification for hanging onto power.
MIMOSA Group of companies MD Winston Chitando is to be appointed the new Chamber of Mines president, taking over from Victor Gapare who has been at the helm of the chamber for the past two years businessdigest can reveal.
A GROUP of Zimbabweans in the United States will tomorrow launch an initiative that may raise up to US$120 million a year for investment in their mother country, which they hope will not only recapitalise the economy but also provide possible funding for a more transparent indigenisation programme.
CHAMBER of Mines president Victor Gapare has yet again lambasted government’s plan to force mining companies to sell off 51% of their shares to indigenous persons, falling short of saying the plan is doomed to fail.
AICO Africa is disposing of two of its subsidiaries, Scottco and Exhort, to concentrate on core business, according to CEO Pat Devenish. Devenish told the recently concluded Zimbabwe Investors Conference that the two businesses no longer suited the group’s business model going forward.
NOW that we have dispensed with the obvious and obnoxious teaser headline, let’s drop the towel and expose Dominique Strauss-Kahn’s history of arrogant abuse. The truth is, the grandee of the IMF has molested Africans for years.
