Zimbabwe abandons debt relief initiative

The Zimbabwe government has abandoned its plan to access a debt relief facility under the Highly Indebted Poor Countries (HIPC) initiative, meant to resolve its unsustainable debt, Business Times repo...

By Staff reporter | Published: 02 June 2022


Air Zimbabwe resumes S.Africa flight after settling debt

State-owned Air Zimbabwe's only serviceable plane was stopped from leaving Johannesburg last week after failing to pay for airport services.South Africa has reinstated permission for Zimbabwe's natio...

By AFP | Published: 29 October 2019


British Council fails to settle US$11,000 debt

The British Council Zimbabwe has been summoned to the High Court for failing to settle a US$11 000 debt they owe a construction company for refurbishing their Belgravia offices. Africa Refractory Indu...

By Staff reporter | Published: 07 October 2019


Powerless Zesa blacklists debtors

ZESA Holdings has embarked on a nationwide blitz on defaulters and is blacklisting them so that they cannot open new accounts using different addresses. In an interview, ZESA spokesperson Mr Fullard G...

By Staff reporter | Published: 05 October 2019


Shambles rock Zimbabwe govt over domestic debt

GOVERNMENT is guesstimating the real domestic debt figure despite announcing that it settled a significant portion of it last week as chaos continues to characterise official communication on the stat...

By Staff reporter | Published: 12 July 2019


'Report to ascertain Zimbabwe's domestic debt'

Zimbabwe together with World Bank has completed a report to ascertain the level of the country's domestic debt for it to clear its long standing arrears, while in the same vein engaging potential fina...

By Staff reporter | Published: 10 July 2019


Government debts weigh on TelOne

State owned fixed telecommunications giant TelOne says unpaid Government debts amounting to $93 million, 62 percent of total debt, are largely the reason it has struggled to meet obligations to critic...

By Staff reporter | Published: 05 July 2019


$400m debt stifles CAAZ

The Civil Aviation Authority of Zimbabwe is saddled with a $400 million debt emanating from overdue foreign and domestic obligations. This was said by Auditor-General Mildred Chiri in her annual repor...

By Staff reporter | Published: 01 July 2019


Mthuli Ncube slams debt takeover practice

Government may not take over the debts of State-owned entities such as Air Zimbabwe and Zisco, touted as critical to make them more attractive to investors, after Finance and Economic Development Mini...

By Staff reporter | Published: 27 June 2019


Mutodi sued over RTGS$40 000 debt

INFORMATION ministry deputy minister, Energy Mutodi's struggling company National Housing Development Trust (NHDT), risks having its bank accounts garnished after failing to settle a RTGS$40 000 debt ...

By Staff reporter | Published: 13 June 2019


Zimbabwe govt only repays 2% of $9,5m domestic debt

GOVERNMENT has, in the first two months of the year, only managed to pay $195 million, or 2%, towards the country's domestic debt which is currently hovering around $9,5 billion, Finance and Economic ...

By Staff reporter | Published: 30 April 2019


Bank seeks Rushwaya's incarceration over $174k debt

Tetrad Investment Bank, which is under provisional judicial management, has petitioned the High Court seeking the incarceration of Kadoma gold miner, Jameson Rushwaya over a $174 000 debt.Through its ...

By Staff reporter | Published: 06 February 2019


Meikles companies to go under the hammer over debt

MEIKLES stands to lose its shareholding in several of its subsidiaries after a High Court dismissed its application challenging the attachment of its shares by the sheriff over a $1,5 million debt owe...

By Staff reporter | Published: 24 December 2018


Zifa sued over security services debt

A LOCAL security company, Select Security (Pvt) Ltd, has petitioned the High Court seeking an order to compel the Zimbabwe Football Association (Zifa) to settle over $11 000 debt for the security serv...

By Staff reporter | Published: 20 December 2018


Zifa engages creditors to clear debts

Zifa will start engaging its creditors this week to come up with a payment plan as the new leadership led by Felton Kamambo begins efforts to turn around the fortunes of the association.The associatio...

By Staff reporter | Published: 20 December 2018


Kwekwe engages debt collectors

Cash-strapped Kwekwe City Council has engaged debt collectors  to recover $45 million owed by ratepayers. Addressing a full council meeting, Kwekwe treasurer Mrs Rejoice Maweni said council has s...

By Staff reporter | Published: 20 December 2018


Court orders EgyptAir to pay RTG $20 000 boarding debt

The High Court has ordered EgyptAir Holdings to settle a debt of over $20 000 owed to Rainbow Tourism Group Limited for its hotel and hospitality services rendered to the airline's guests.This comes a...

By Staff reporter | Published: 16 December 2018


Businessman faces jail over $4,7m debt

Prominent businessman Munner Kamruddin Kazi faces jail after his former business partner Thamer Said Al Shanfari approached the High Court, seeking his civil imprisonment over a $4,7 million debt.Thro...

By Staff reporter | Published: 10 December 2018


MDC sued over $14 000 telecoms equipment hire debt

THE High Court has ordered opposition MDC party to pay $14 146 to a local telecommunications firm, Ericom Communications, for equipment hired nearly two decades ago.The telecommunication firm filed su...

By Staff reporter | Published: 07 December 2018


Zanu-PF legislator sued over $55k power debt

Mutoko South legislator Herbert Shumbamhini (Zanu-PF) has been taken to the High Court by the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), over an unpaid electricity bill of $54...

By Staff reporter | Published: 28 November 2018


Zamco absorbs $1billion bad debts, disbanded

GOVERNMENT will stop further acquisitions on non-performing loans through its special purpose vehicle - the Zimbabwe Asset Management Company (ZAMCO). The entity, which was established in 2015 with a ...

By Staff reporter | Published: 26 November 2018


Zimbabwean banker loses SA home over $4.5 million debt

FORMER Trust Bank director Christopher Goromonzi lost his plush Johannesburg home after it was auctioned to offset a reported $4,5 million debt he owes a South African bank, it has been learnt.Goromon...

By Staff reporter | Published: 23 November 2018


Bad debtor record haunts Zimbabwe

Zimbabwe's bad debtor record is affecting the implementation of mega deals signed with China, industrialist Joseph Kanyekanye says. Zimbabwe has over the past five years inked several multi-million do...

By Staff reporter | Published: 22 November 2018


Premier in debt-equity deal with director

Premier African Minerals says it has converted a $300 000 loan availed by chief executive George Roach into equity. Last week, the company's board agreed to amend terms of the existing loan agreement ...

By Staff reporter | Published: 22 November 2018


Zupco wants govt to warehouse $16,1m debt

The Zimbabwe United Passenger Company (Zupco) is saddled with a $16,1 million debt and now wants government to warehouse it so that it can work on a turnaround strategy for the bus operator now runnin...

By Staff reporter | Published: 21 November 2018

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