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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...

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...

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 ...

Isibaya Review : This is Why Fans Are Angry With The Show

Isibaya Review: This Is Why Fans Are Angry With The Show Isibaya has unfortunately changed from being a leading, authentic storytelling Telenovela, to relying on their second-best actor; Melusi Zungu(played by Nkanyiso Mzimela) to run the show. *Insert laughing emoji*. Mzimela released an EP a few weeks ago, so, at this point, I am undecided if he should stick to working towards being a watered-down version of the Toronto rapper Drake or being a mediocre Mpiyake Zungu impersonator. We never took note of how expressionless and dull he was, mainly due to his shortcomings being overshadowed by his talented on-screen father; Mpiyakhe Zungu (played by Siyabonga Thwala) and brother; Jabu Zungu (played by Palance Dladla) stole the show. To make matters worse, they’ve softened Qaphela (played by A...

International Dj Black Coffee Attacked

Dj Black Coffee Attacked Ever since he announced his separation with his wife, Enhle Mbali, the flamboyant disk jockey’s life has been under the spotlight and all eyes have been on him. Born Nkosinathi Innocent Maphumulo and affectionately known as Black Coffee, the famous Dj has been attacked by his own followers after they felt that he failed to draw the line when he mercilessly took a swipe at a mother of a child suffering from albinism. Dj Black Coffee Attacked: Award-winning Dj fondly known by his fans as Black Coffee: Image Credit: Instagram According to one of his recent tweets, the award-winning Dj is clearly fed up with people’s opinions towards his ups and downs. ” Mas’dlaleni uTwitter,who’s trending today,who’s falling,who are we trolling,who’s marriage are we having opinions on...

Uzalo Weekly Review:The Highs And The Lows

Uzalo Weekly Review: The Highs And The Lows We have been anticipating the exit of Uzalo’s popular duo; The Khanyile brothers, Thulane and Godfather played by Thulani Shange and Sizwe Khumbuza for weeks now. We still had hope that the producers of the show may have a change of heart about ending their contracts, due to the fact that they are soapville’s favourite villain duo.  Fans took to social media this week to express their disappointment at the abrupt cut-offs of the duo by Nkunzi. Many remain hopeful that Godfather will return to the show even though he was shot multiple times. Unlike his brother, Godfather did not have a burial and is expected to be the one that would resurface on the show according to several reliable sources.  Nkunzi was accompanied by his wife; MaNgcobo...

Zimbo Vusa Mkhaya Makes Australian iTunes Chart History

Vusa Mkhaya Makes Australian iTunes History Zimbabwean jazz musician Vusa Mkhaya made Australian iTunes charts history with his re-launched 10-track album, formerly Umanyayatha now Umanyanyatha – Songs of the Soul of Zimbabwe. He became the first Zimbabwean to feature on the iTunes Australia top 100 downloads. Mkhaya’s album was relaunched on June 26 under Canada’s internationally acclaimed music label Naxos Records. As of August 3, the album is sitting on the 86th spot in the Australian iTunes Charts Top 100. Vusa who is a member of the versatile group, Insingizi seems to be growing big on his solo career as the album was closely followed in terms of position on the chart by Adele’s album 21 and Ed Sheeran’s Deluxe album. Through his Zimbabwean-based publicist Kudakwashe Takundwa, Vusa Mk...

ZCBTA urges govt to use e-commerce platforms

BY Business reporter THE Zimbabwe Cross-Borders Association (ZCBTA) has implored the government to consider the feasibility of using bonded warehouses, cargo consolidation and e-commerce platforms to secure goods from their suppliers legally and for safety purposes without any physical movement ofpeople. In a statement yesterday, ZCBTA secretary-general Augustine Tawanda expressed concern over the increasing use of illegal crossing points to neighbouring countries mostly by cross-border traders as this has the potential to contribute to the rapid increase in COVID-19 infections. These illegal activities are happening mostly along the Limpopo River into South Africa as desperate traders are risking their lives trying to eke a living. “This development is without doubt putting the traders at...