adminInterfin faces massive lawsuits
Herald Reporter
FIRMS and individuals who invested millions of dollars with Interfin Bank are likely to lose out amid reports of gross mismanagement of the funds by the bank.
Many clients reportedly failed to access their money on demand.
Some of the companies are already facing financial crises owing to failure to access their money.
It is understood that the bank is facing liquidation as monetary authorities seek to protect depositors.
The bank’s top depositors have a combined US$70 million in deposits.
Some of them are, Al Shams Global with US$22, 393,731, the Ministry of Finance deposited US$17, 913, 689 while NSSA has US$15, 371, 204.
Zimra deposited US$3, 053, 743, ABC Holdings US$3, 000, 000 while Seed Co has US$2, 549, 782, POSB US$1, 812, 500 and High Court Temp deposited US$1, 737, 191.
Swixfield Investments and Havercroft NA also deposited US$1, 214, 675 and US$1, 167, 606 respectively.
As a result, the bank is now facing lawsuits as companies and individuals swarming the High Court in a bid to recover their deposits.
Makandiwa hands over house to chief
From Zvamaida Murwira in MUZARABANI
CHIEF Kasekete of Muzarabani was yesterday officially handed over a three bedroomed house built by United Family International Church leader Prophet Emmanuel Makandiwa.
Prophet Makandiwa built the six-roomed house to show respect to his local leader.
The main bedroom is en suite.
The house also has a spacious lounge, a dining room, a kitchen and a garage.
The house has been furnished with a plasma television, sofas, luxury beds and dressing tables and a kitchen unit at a cost of over US$25 000.
The house was built in 26 days.
Chief Kasekete, whose full name is Mr Faxwell Mutinhima, had his homestead electrified and now has tap water.
Troika upholds poll decision
From Munyaradzi Huni in LUANDA, Angola
THE Sadc Troika on Defence, Politics and Security Co-operation yesterday said elections in Zimbabwe should be held within the next 12 months.
The organ urged parties to the Global Political Agreement to agree on the timeline for harmonised elections.
It also asked the facilitator, South African President Jacob Zuma to assist the GPA parties find common ground on the remaining contentious issues.
The troika sought to accommodate the views of all parties as Zanu-PF maintains that elections should be held this year while the MDC formations want the polls in March next year.
Sources said the “notion to go for elections has been upheld”.
President Mugabe came out of the meeting maintaining that elections will be held this year. Speaking soon after the meeting, the President told journalists that all parties to the GPA had made their contributions which all negotiators described as cordial.
“We discussed the situation in our country and we all made contributions. We should go and finish the
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Anna Mguni
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OLYMPIC medals had remained elusive for Team Zimbabwe to such an extent that many viewed our participation in the Athens Games as just another routine mission bound to yield predictably
Juwawo a silent road Warrior
Godknows Matarutse Sports Reporter
WIRIMAI Juwawo has been overshadowed by the performance of the likes of three-time Comrades Marathon winner Stephen Muzhingi but has written his own piece of history when he qualified for the
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