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UKAid, FSD to launch financial solutions competition

UKAid and Financial Sector Deepening (FSD) Africa will on June 14 launch a competition to identify and support enterprising financial solutions in Zimbabwe. BY BUSINESS REPORTER In a statement yesterday, FSD Africa official, Joe Huxley said the competition formed a key part of FSD’s commitment to making financial markets work …

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R18 million fraud haunts #Zimbabwe businessman Mutumwa Mawere

Darlington Musarurwa Business Editor SHABANIE MASHABA MINE (SMM) has instituted sequestration proceedings against South Africa-based Mr Mutumwa Mawere’s estate to recover more than R18 million that was fraudulently transferred to the businessman’s Petter Trading. A sequestration order will make the former industrial magnate technically insolvent. Under South Africa’s insolvency laws, …

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TSF director under the spotlight

Tobacco Sales Floor (TSF) managing director, Mary Machingaidze, is embroiled in a potential conflict of interest case after it emerged a company owned by her husband, David, is allegedly buying the golden leaf from TSF premises. By Fidelity Mhlanga David owns Ethical Leaf Tobacco, a contract tobacco firm. Farmers taking …

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