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Econet buys Telecel globe

VimpelCom, the parent company of Telecel Globe, has just announced via a press release that it has sold all its shareholding in Telecel Globe to Econet Wireless Global for US $65 million. Effectively, the release says, Econet Wireless now owns U-Com (or Leo, what Telecel is called in Burundi) and Telecel Central African Republic.  So yes, the deal does …

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Today’s millionaire: Ignatius Chombo

TODAY Zimbabwe Today covers the details of the sprawling business and Property Empire that Zimbabwe Local Government Minister Ignatius Chombo as mysteriously built over the years. Local Government Minister Ignatius Chombo Although Chombo clearly attempted to hide his empire under shelf companies and various other guises its sheer size meant that …

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Truth about Sir Wicknell #Zimbabwe young millionaire

After a 31-year-old Zimbabwean businessman bragged so much about his wealth, Zimbabwe Today crew decided to get a closer look t the life of an ex-convict, ‘Sir’ Wicknell Munodaani Chivayo. Chivayo, who is also known as B.I.G or Sir Wicknell on Facebook, is associated with too much flamboyance. The businessman is …

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Econet launches car-tracking service

Earlier today we attended the very elaborate launch of mobile operator Econet’s new service called the Econet Connected Car which is part of a new range of products that Econet is calling Connected Lifestyles. The main delivery was by Dorothy Zimuto, the COO for Econet Connected Car, who outlined Econet’s …

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State Procurement Board in tender furore

THE State Procurement Board (SPB) has been caught in the eye of the storm once again amid revelations that it breached procurement regulations by restricting a tender for the construction of 300 megawatts (MW) solar plants in Matabeleland South Province to six bidders who had earlier participated in a failed …

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Tanganda diversifies

MUTARE, October 14 – Zimbabwe’s largest tea producer, Tanganda says it will invest $2 million in the construction of an avocado pack house at its Avontuur Estate to boost revenue as the company completes its diversification programme. The facility, to be constructed in two phases is, expected to be completed …

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West jealous of Zim-China ties

Western countries that imposed illegal economic sanctions on Zimbabwe, are threatened by China’s growing business ties with Zimbabwe and other African countries and are making spirited efforts to scuttle the Asian country’s deals through a media onslaught, Chinese Ambassador to Zimbabwe, Mr Lin Lin has said. Responding to questions while …

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Unity of purpose crucial for economic turnaround: Gono

HARARE – Former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono has called for unity of purpose if the country entertains any hopes of turning around the economy that is on a downward spiral. Speaking at a speech and prize-giving ceremony at Daramombe High School in Chikomba District at the …

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Zim rushes to create sovereign fund

Sovereign Wealth Funds have been attracting a lot of attention in recent years as more countries establish funds and invest more capital in a wide range of assets. Nesbert Ruwo At least US$6 trillion in assets are being held by these funds globally. But the question is, should every country …

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