‘99-year land leases not bankable’

Financial institutions have turned down a request by Matabeleland region farmers to accept as collateral their 99-year land leases in their loan applications. By Our Correspondent The banks argue the leases are not bankable. Speaking in Bulawayo last week at a meeting for players in the agriculture industry and financial institutions organised by a local non-governmental organisation (NGO), farmers demanded that banks accept the leases as security

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AirZim recapitalisation needs US$368m

Air Zimbabwe requires US$368 million to recapitalise operations and buy new aeroplanes as it has been incurring high operational costs due to its ageing fleet. AirZim recapitalisation needs US$368m Of the US$368 million required by the national airline for recapitalisation, US$331 million will go towards buying new planes which are necessary to improve competitiveness and profitability of the airline

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Airzim mired in another storm

Acting board chairman doubles as GM Move violates corporate governance Air Zimbabwe acting board chairperson Mr Abdulman Eric Harid (centre) testifies before the Parliamentary Portfolio Committee on Transport and Communication while flanked by the airline’s CEO Mr Edmund Makona (right), and a board member Mr Edwin Zvandasara in Harare yesterday. — (Picture by Tawanda Mudimu) Zvamaida Murwira Senior Reporter Air Zimbabwe is caught in another storm after it emerged that its acting board chairperson Mr Abdulman Eric Harid doubles up as the airline’s general manager responsible for finance in breach of tenets of good corporate governance. The Parliamentary Portfolio Committee on Transport and Communication chaired by Epworth MP Cde Amos Midzi (Zanu-PF) queried the anomaly, saying the arrangement was likely to create a conflict of interest

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Human traffickers spared jail

Marvelous Moyo Gwanda correspondent SIX men have been spared jail after a failed bid to help 30 locals enter South Africa illegally. The six human traffickers charged between R200 to R1,000 per person to help the border jumpers through immigration, but instead took the group to an undesignated point along the Limpopo River which they found in flood.

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Grade 7 Bully sodomises, robs schoolmate

BULAWAYO – A grade 7 pupil at Mafakela Primary School in Bulawayo’s Luveve suburb allegedly bullied a nine-year-old pupil by forcing him to miss school for several days and taking him to a park where he would sodomise him.

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Mangudya goes back to basics

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya dispatched his maiden monetary policy statement to various stakeholders via e-mails, a departure from what Zimbabweans had been accustomed to in the past 10 years.

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Harare Cup Clash 2014 thrills

Winky D performS at Harare Cup Clash 2014 at the City Sports Centre over the weekend Jonathan Mbiriyamveka Entertainment Reporter— The City Sports Centre was filled to capacity over the weekend as thousands of music lovers turned up for the Harare Cup Clash 2014 that drew some of the heavy hitters in Zim dancehall. The youthful crowd swelled in the afternoon ahead of the annual showdown which is held on the last day of the Harare Agricultural Show. As early as 6pm, there were long queues out of the venue for the all-night gig which is also meant to give a proper send-off for students before schools open. Outside the City Sports Centre, which has become the ceremonial home for dancehall cup clashes, business was brisk at the food stalls dotted around the venue

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