adminPipeline leak triggers fuel shortages
LUSAKA — Zambia has been hit by petrol shortages following a leak in a pipeline from Tanzania, which left pump stations dry in most parts of the capital Lusaka, an official said yesterday. “This shortage was as a result of a pipeline leakage at Ilinga in Tanzania,Group calls for ACP, EU relations revamp
Victoria Ruzvidzo in Port Vila, Vanuatu
The 95th session of the African, Caribbean and Pacific Group Council of Ministers meeting began here yesterday, with emphasis on the need to revamp the group’s relations with the European Union in tandem with the changing global landscape.
Fertiliser companies yet to be paid
Agriculture ReporterGOVERNMENT has not yet paid fertiliser companies for fertiliser they supplied for the winter wheat programme. The Herald yesterday established that Treasury was yet to pay undisclosed amounts to the companies for fertiliser delivered since May.
China donates to Parliament
Herald Reporter
THE Parliament of Zimbabwe yesterday received computers, television sets and scanners from the Chinese government. The goods were handed over by outgoing Chinese ambassador to Zimbabwe, Mr Xin Shunkang, at a ceremony attended by
Zuma’s facilitation team jets in
Tendai Mugabe Herald Reporter
SADC facilitator, South African President Jacob Zuma’s backroom facilitation team arrived in Harare yesterday and met negotiators to the Global Political Agreement who told them that they should wait for an invitation from the parties to the GPA.
Troubled bank surrenders licence
Herald Reporter
THE Reserve Bank of Zimbabwe has placed Interfin Bank Limited under recuperative curatorship, while Genesis Investment Bank voluntarily surrendered its banking licence to the monetary authorities yesterday.
The central bank placed Interfin Bank Limited under the curatorship of Mr Peter Bailey of KPMG Chartered Accountants after determining that it was not in a safe and sound financial condition.
RBZ Governor Dr Gideon Gono yesterday said: “Board of Directors of Genesis Investment Bank met and resolved to voluntarily surrender the institution’s banking licence in line with section 14 (4) of the Banking Act [Chapter 24:20].
“This follows failure by the institution to raise the requisite minimum capital from over twenty (20) different potential inventors whom the bank tried to engage since 2009.”
“The bank’s Board of Directors has failed to steer the institution out of numerous deficiencies including gross undercapitalisation [-$3,20 million]; persistent losses; poor asset quality; paltry deposit base; and chronic liquidity challenges.
“As such, there is no prudential basis for the continued existence of the bank.
“Accordingly, the Reserve Bank of Zimbabwe has closed Genesis Investment Bank and commenced proceedings for the liquidation of the institution,” said Dr Gono.
Violence rocks MDC-T election
Walter Nyamukondiwa and Felex Share
VIOLENCE broke out during MDC-T elections to reconstitute the district executive in Zvipani, Hurungwe District, on Sunday.
Rival groups bused supporters from different parts of the district, leading to the violence.
They fought running battles at the township during elections to elect a new district executive.
Others wanted to retain the current executive.
Hurungwe West legislator and Zvipani district chairperson Mr Severino Chambati’s supporters fought those who had allegedly been bused into the district by provincial organising secretary Mr Wilson Makanyaire.
Mr Makanyaire is eyeing the Hurungwe West seat.
Mashonaland West provincial police spokesperson Inspector Clemence Mabgweazara yesterday confirmed receiving reports of the violence.
“We received information that party supporters clashed at Zvipani, but the details are still sketchy.
“I do not have the names of those involved but as police if any violent clashes occur we are left with no option except effecting arrest.
“This is despite the fact that those who would have clashed would be from the same political party,” he said.
MDC-T spokesperson Mr Douglas Mwonzora last night said he was not aware of the incident.
Green Fuel: Government initiates transformation process
Herald Reporter
CABINET has set up a committee of ministers to assist in the drafting of terms of reference to guide the transformation of the ownership of Green Fuel from a Built Operate and Transfer project to a joint venture company.
Green Fuel in Chisumbanje, which produces ethanol for petrol blending, is owned by the Agricultural and Rural Development Authority and Rating and Macdom Investments.
Agriculture, Mechanisation and Irrigation Development Minister Joseph Made yesterday said the committee was tasked to engage a private consultant to look into various issues surrounding the ownership transformation.
“Cabinet has directed the committee of ministers to engage a private consultant. The findings and recommendations of the private consultant will then inform the negotiations with a view to transforming the project into a joint agreement,” said Minister Made.
Earlier reports suggested that Government had taken over Green Fuel, when it had only initiated the process of transforming the BOT into a joint venture. Minister Made said Cabinet’s position on the BOT signed between
Arda and its partners was that it was “null and void,” adding that it “was not approved by Government through Cabinet”.
Car licensing deadline won’t be extended further: Goche
Peter Matambanadzo Senior Reporter
THE vehicle licensing deadline will not be extended further, Transport, Communication and Infrastructural
Reconsider ban on secondhand vehicle imports, State urged
Herald Reporter
GOVERNMENT has been urged to reconsider the importation of secondhand vehicles as the motor industry is facing serious