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Cassava, Liquid launch Sasai wifi finder across Africa
Cassava Fintech International (CFI) and the Liquid Telecom Group (LTG) have announced the launch of Sasai Wi-Fi Finder which they described as a potential game-changer in driving digital and financial inclusion in Africa.Both firms are part of the Econet group of companies. They said the service will be offered across the continent and is set to be rolled at thousands of hotspots across Africa. A 2019 report by the GSMA (the Global System for Mobile Communications) shows that affordability remains a significant barrier to Internet adoption in Africa, resulting in social, digital and financial exclusion. This partnership seeks to offer a low-cost solution for connectivity and to expand these services throughout the continent. “We see this launch as a critical piece in the social digital inc...
Invictus gets EMA nod
BY TATIRA ZWINOIRA AUSTRALIAN energy firm, Invictus Energy Limited (IEL) announced that it had received an Environmental Impact Assessment (EIA) compliance certificate from the Environmental Management Agency (EMA) for its Cabora Bassa Project in Zimbabwe. IEL has been struggling to launch the Cabora Bassa project, which encompasses the Muzarabani Prospect believed to have multi-trillion cubic feet worth of liquids and rich in conventional gas-condensate since late 2018. In a statement on Monday, IEL said EMA had granted Geo Associates (Private) Limited, IEL’s 80% owned subsidiary and holder of Special Grant 4571 for the exploration of oil and gas, permission to operate. These operations are in accordance with part XI of the Environmental Management Act (Chapter 20:27) subject to certain s...
Lithium company closes second quarter with US$1,21m
BY MTHANDAZO NYONI AFRICAN lithium company, Prospect Resources (Prospect) ended the second quarter with a strong balance sheet of A$1,698 million (US$1,21 million) following the implementation of a material cost cutting strategy, in line with the rights issue. In its second quarter activity report, Prospect said it registered progress by strengthening its balance sheet via a successful rights issue, signed an MoU with SCR-Sibelco NV regarding potential ultra-low iron petalite offtake, continued discussions with Uranium One Group JSC in relation to a spodumene offtake, investment and or acquisition of Arcadia. As a result, it finished the quarter with a cash balance, as at June 30, 2020, of A$1,698m and US$10m funding commitment from offtake partner Sinomine on placement of ball mill. As pe...
Mnangagwa risks spat with Ramaphosa, blocks envoys from meeting rivals
HARARE – President Emmerson Mnangagwa risked a diplomatic spat with South Africa on Monday after blocking two special envoys sent by President Cyril Ramaphosa to gather information on human rights violations in Zimbabwe from meeting his rivals and rights groups. Mnangagwa met the three-team delegation of Baleka Mbethe, Sydney Mafamadi and Ngoako Ramatlhodi at State House during which he reportedly told them there was “no crisis in Zimbabwe.” The main opposition MDC Alliance said Ramaphosa’s office contacted them last Saturday to prepare a five-person delegation to meet his envoys on Monday. In a statement announcing the Zimbabwe mission last week, Ramaphosa had said the delegation would “engage the government of Zimbabwe and relevant stakeholders to identify possible ways in which South Af...
Zimbabwe president decries ‘divisive falsehoods’ over rights abuse claims
HARARE – Zimbabwe’s President Emmerson Mnangagwa on Monday called criticism of human rights abuses by his government “divisive falsehoods” and said his administration was under renewed attack from domestic and foreign opponents. Mnangagwa, during a Heroes Day speech in Harare, said the allegations were “unjustified attacks by our perennial detractors, both inside and outside our border”. “The divisive falsehoods and concoctions by renegades and supremacists who want to pounce on our natural resources will never win the day. Truth shall triumph over lies, and good over evil,” said Mnangagwa, who replaced Robert Mugabe after a 2017 coup. Hopes that Mnangagwa would unite a polarised country and revive a stricken economy following the Mugabe era have been dashed. Like his predecessor, Mnangagw...
African Union voices concern over ‘violation of rights’ in Zimbabwe
ADDIS ABABA, Ethiopia – African Union Commission chairman Moussa Faki Mahamat has issued a rare rebuke of a member state after expressing concern at reports of the use of “disproportionate force” by Zimbabwe’s security forces in enforcing Covid-19 emergency measures. Mahamat also called on President Emmerson Mnangagwa’s regime to stop a crackdown on journalists, trade union leaders and health workers. Mnangagwa’s opponents say he has used the Covid-19 pandemic to close the democratic space after declaring a virtual state of emergency, with all movement controlled by the military and police at checkpoints all across the country. “Cognisant of the existing harsh socio-economic situation in the country, the chairperson urges the Zimbabwe authorities to respond to the pandemic ensuring that th...
Miners call for fast-track recapitalisation
CONFEDERATION of Zimbabwe Miners (CZM) president Rangani Chauke has urged government to speedily recapitalise mining operations to achieve its ambitious US$12 billion mining economy by 2023. BY Stephen Chadenga The CZM boss said there was need for an aggressive government funding programme particularly in the gold sector that could fund up to 10 000 miners at once in a bid to improve the viability of the industry. “There is need for a fast-track mining programme that avails substantial amounts of capital investment to recapitalise particularly the small-to-medium scale miners,” Chauke told NewsDay Business. “Yes, we might have our socio-economic challenges as a country, we might be feeling the impact of COVID-19 on our economy, but every dark cloud has a silver lining and mining is the onl...
Shinya takes over as ICAZ president
BY FIDELITY MHLANGA MEDICAL Investments Limited (St Annes) chief finance officer Duduzile Shinya has been elected president of the Institute of Chartered Accountants of Zimbabwe (ICAZ), taking over from EY partner Fungai Kuipa. Shinya was elected at the ICAZ 2020-2021 winter school held last week, with Deloitte partner Tumai Mafunga as her deputy and Davison Charamba as junior vice-president.Previously, Shinya was the chief financial officer at Amalgamated Brands, the investment holding company for Cairns Holdings, Lobel’s Bread, Cailogistics and Cailo Marketing Services. Prior to that, she was the finance director at Schweppes Holdings Africa Limited. Shinya has been a member of ICAZ since 2006 and is also a member of the Public Accountants and Auditors’ Board (PAAB) Accounting Standards ...
Daily transaction limits reduce C-Trade volumes
BY TATIRA ZWINOIRA ESCROW Systems (Pty) Ltd managing director Simbarashe Machanzi says daily maximum transaction limits on banking and mobile money platforms have reduced volumes on C-Trade.In an effort to curb the parallel market foreign currency rate currently at US$1:$130, the central bank in May reduced daily and monthly transaction limits to $20 000 and $100 000.However, the move has negatively affected Escrow Systems, a subsidiary of the Escrow Group, and creators of the mobile-based C-Trade trading platform. The platform has attracted 31 000 investor subscribers since its launch in 2018. “C-Trade has been operating well since inception and we have been experiencing a gradual steady growth in both registered accounts and number of trades executed. However, we feel the current convers...
Malema calls for Beitbridge blockade, urges ‘real revolution’ in Zimbabwe
BULAWAYO – South African opposition leader Julius Malema on Sunday urged Zimbabwean youths to take decisive steps to end President Emmerson Mnangagwa’s increasingly autocratic rule, warning that social media activism alone would not bring about the desired change. Zimbabwe is going through its worst economic crisis in over a decade, with inflation of over 700 percent. Many blame Mnangagwa, the 77-year-old successor of Robert Mugabe, for the crisis which has seen doctors and nurses going on an indefinite strike in the middle of the Covid-19 pandemic. Economic Freedom Fighters leader Malema spoke at a Women’s Day event close to the grave of anti-apartheid icon Winnie Mandela, charging that Zimbabwean women wake up everyday with a threat of arrest, abduction or rape by Mnangagwa’s shock troop...
Former Botswana leader Khama says Mnangagwa blew chance to be a reformer
HARARE – Botswana’s former President Ian Khama says he regrets attending the inauguration of Zimbabwe’s president Emmerson Mnangagwa, accusing him of making empty promises. Zimbabweans say life is worse under Mnangagwa, who toppled former leader Robert Mugabe with the help of the military in 2017. “I was really happy to share the words he (Mnangagwa) expressed at that inauguration about how he planned to take the nation of Zimbabwe forward. Coming away from that event, I thought to myself that this is great news and I wished him all the best,” Khama said in a radio interview with Duma FM. “I saw this as an opportunity for Zimbabwe to break from the past ways of doing things as there were indications that the country will be on the path to prosperity again. Sadly, that part of the letter wh...
Eriza Reveals How She Met Jah Prayzah, Trials Of Showbiz
Eriza Reveals How She Met Jah Prayzah Lyn Magodo who played the role as Eriza on Jah Prayzah’s video with the same name revealed how she met the award-winning musician. In an interview with The Herald, Magodo who is also known as Lady Storm in dance circles, said she first met Mabla 10 who later linked her up to Jah Prayzah. She said: I have worked with several musicians, but I cherish the time I had with Jah Prayzah. He gave me exposure that had great returns beyond my anticipations. I met Mabla 10, who is part of Jah Prayzah’s team, when I was doing some music and dance challenges at Holly’s Hotel and he enjoyed my act. When we got close, I was invited to their shows and I provided a cameo act when they had a gig at Zebra in Mbare. Jah Prayzah enjoyed my act, but he did not say anything ...