adminRTGS woes expose RBZ
Golden Sibanda Senior Business Reporter
THE Reserve Bank of Zimbabwe needs urgent recapitalisation to assist banks facing shortfalls following a Real Time Gross Settlement System gridlock in the banking sector due to the absence of lender of the last resort facility. Most bank clients could not access their money transferred using the RTGS system between December 2011 and January 2012 due to a
CFI engages potential strategic investors
Business Reporter
CONGLOMERATE CFI Holdings Limited has engaged potential strategic investors to take up significant shareholding in two of its subsidiaries. The investments in Victoria Foods and Crest Poultry Group would bring fresh capital and efficiencies to the firm’s core operating divisions. In a cautionary statement yesterday, CFI said it has already signed non-disclosure agreements with
Kingdom seals deal with AfrAsia Bank
Business Reporter
KINGDOM Financial Holdings Limited has reached an agreement with Mauritius-based financial services group AfrAsia Bank Limited which will invest US$9,5 million for an 35 percent equity in the group. The investment completes the recapitalisation of KFHL and paves the way for the group to accelerate its strategic initiatives to consolidate the operations of
Western sanctions on Iran ‘futile’
TEHRAN. – The EU sanctions against the Central Bank of Iran (CBI) are completely futile and serve as part of the West’s psychological war on Tehran since the CBI has no financial assets in the European countries, an informed source said yesterday.
“One of the sanctions announced recently was blocking the central bank’s assets in the European countries, while the CBI does
Malema appeal hearing starts
JOHANNESBURG. – An appeal that will determine the future of South African ANC youth leader Julius Malema started yesterday, giving the firebrand a last chance to retain his influential position in the ruling African National Congress.
Malema, head of the ANC’s Youth League, rose to prominence with calls to nationalise mines and seize white-owned land.
Nigerian police kill 4 Boko Haram members
MAIDUGURI/KANO/ NOUAKCHOTT. -Nigerian police yesterday said they shot dead four members of the Islamist sect Boko Haram in the northeast city of Maiduguri and recovered explosive materials stored in a car, two days after the sect carried out its most deadly attacks. Bomb attacks and fierce gun battles between the sect and police on Friday in Nigeria’s second largest
protect Africa’s water bodies
Peter Kahare
Several years ago, Lakes Kamnarok and Ol Bollosat in Kenya were vibrant water bodies that supported and shaped the ecosystems around them. But today they are shells of their former selves, due to heavy siltation caused by human activities.
We have the right to know
Thabo Mbeki
The reality is that a small but powerful minority has the capacity to decide what society should “know”. It is in the vital interest of all our people that the historically inherited and contending understandings of “knowledge” should be given free
Africa must be wary of recolonisation
Professor Muchai Wa Muthatha
After the winds of change in the 1960s, Africa found itself fast gaining independence from colonialists, one country after another, until South Africa, became the last country to claim uhuru. Since then, there appeared to have been a surrender of
Indigenisation and race demographics
Innocent Katsande
The whites who settled in the then Rhodesia, most of whom were of British extraction, brought with them a Western type liberal-democratic political culture. They, however, applied it to where land ownership was concerned. They propped up some kind of “sectional democracy”. The political scheme was built in such a way that black people were excluded from the