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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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Heartbreak as #Zimbabwe government refuses to pay new black tobacco farmers after they delivered US$400 million tobacco harvest delivery

Zimbabwe tobacco is booming, but farmers growing it are not HARARE, Zimbabwe (AP) — Farmer Simon Kahari recently sold tobacco worth more than $6,000 at an auction in Zimbabwe, a small fortune reflecting the golden leaf’s resurgence in this southern African country. Yet because of Zimbabwe’s dire economic problems he …

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#Zimbabwe to Redistribute Underutilized Farms, Mugabe Says

By Godfrey Marawanyika (Bloomberg) — Zimbabwe to redistribute underutilized farms from newly resettled black farmers, while those with more than one farm will be asked to relinquish them and give them to those who have yet to benefit from the land-reform program, President Robert Mugabe tells supporters at a Zanu-PF …

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