adminGold prices rise
Business Reporter
THE labour unrest in South Africa is contributing to the rise of gold prices as demand is soaring higher than supply, an official has said.
Broadacom to launch Broadacall
Business Reporter
One of the country’s newest telecommunications operators, Broadacom, is set to launch Voice over Internet Protocol (VoIP) that will allow users to make voice calls over the Internet.
Zim delegation attends tourism forum in US
Sugar Chagonda in New York, USA
A delegation from Zimbabwe is in New York to attend the Africa Travel Association’s (ATA) 7th Annual Presidential Forum on Tourism to be held on Thursday.
Hip hop Nashie aims high
Bruce Ndlovu
Young up-and-coming hip hop artiste, Nashie recently shot a video for his single Mic nema headphones which he hopes will propel him towards superstardom in the local hip hop arena.
Documentary, novel on Zim’s armed struggle to be released soon
Hillary Marizani
A 45- minute documentary film and a novel on Zimbabwe’s armed struggle will be released soon.
Amangwe celebrations in SA officially open
Bongani Ndlovu in South Africa
KING Ntshosho Zwane II officially opened the Annual Amangwe Celebrations here in Entshenteka Area in the Ehlobani district of Kwazulu Natal, South Africa with a call for their ancestor King Mangete to bless the ceremony.
New Orleans go easy on Faith Drive
Lillian Sibanda
NEW Orleans celebrated yet another victory against struggling Faith Drive Queens in a Marange Resources Women’s Soccer League return fixture that was played at Sakubva Stadium in Mutare this weekend.Cheetahs off to Morocco
Harare Bureau
CHEETAHS utility player Gardner Nechironga believes there is no excuse for the Zimbabwe Sevens side in not making it for the 2013 rugby World Cup set for Moscow, Russia
Bank wins US$1m case against Gono
Daniel Nemukuyu Senior Court Reporter
RESERVE Bank of Zimbabwe Governor Dr Gideon Gono and his company, Lunar Chickens, have been ordered to pay Renaissance Merchant Bank US$1,2 million in settlement of a loan extended to the firm in 2010.
Dr Gono, a director with Lunar Chickens, was cited as a co-principal debtor and surety together with four other companies.
High Court judge Justice Chinembiri Bhunu ordered the execution of the six immovable properties that had been tendered as surety bond.
The following properties were declared executable:
- Stand 3434 Harare measuring 4 694 square metres
- Lot 4 of GA Hellensvale measuring 2, 0332 hectares
- Stand 6 Tara, Goromonzi measuring 6, 3314 hectares
- Stand 644 Ruwa measuring 2 000 square metres.
Justice Bhunu granted the order following an unopposed chamber application by RMB’s lawyers, Danzinger and Partners.
“Judgment is hereby entered against the defendants jointly and severally the one paying the others to be absolved in the sum of US$1 274 167,85 together with interest at the rate of 21 percent per annum from May 1 2012 to date of payment in full . . . ” read part of the order.
The other four companies that were cited as defendants together with Dr Gono and Lunar Chickens are Froglett Investments, Kimira Bonsai Nursery, Hanrob Investments and Wykeham Investments.
Facts of the matter are that on December 8 2010, RMB extended a credit facility of US$1 million to Lunar Chickens.
In the same deal, Dr Gono and the other four firms stood as surety and co-principal debtors for the due fulfillment of all the obligations of Lunar Chickens.
Froglett passed a surety bond of Stand Number 3434 Harare Township in favour of RMB while Kimira Bonsai Nursery bonded the Hellensvale property.
Matope wins Nomads golf
Takudzwa Chitsiga Sports ReporterDAVID Matope won the Nomads golf society hole-in-one car prize at Wingate on Sunday. The 13-handicap player will get his car on Thursday. Matope struck at the 170-meters hole number six. The car is worth US$30 000. Alison de Klerk, the Autoworld general manager, said the event was a success.