Steelmakers in trouble over debt

Steelmakers Zimbabwe (Private) Limited in Redcliff, Kwekwe is being sued over a debt owed to an oxygen cylinder supplier.This comes after the two parties signed a deal in early 2016 which later collap...

BUSINESS NEWS

Zimra mulls debt write-offs

THE Zimbabwe Revenue Authority (Zimra) says it is mulling several debt management strategies including write-offs following recent lapse of a tax moratorium.Highlighting tax defaults had continued ris...

BUSINESS NEWS

Debt-ridden CSC downscales

COLD Storage Company (Ltd), a beef producer with refrigerated warehousing, has downscaled its operations and put its employees on a "short time" work schedule under which they will now be paid based o...

BUSINESS NEWS

Air Zimbabwe in trouble over internet services debt

NATIONAL airline, Air Zimbabwe (Pvt) Ltd has been taken to court by local internet service provider, Powertel Communications (Pvt) Ltd, over a $18 441 debt for services rendered.On August 17 this year...

BUSINESS NEWS

Bank sues Paul Madzore over $22 000 debt

FORMER MDC-T Glen View South legislator Mr Paul Madzore has been taken to the High Court over an outstanding bank loan amounting to $22 000. The politician benefited from an overdraft facility with CB...

MINING & RETAIL

Debts push Metallon Corporation to the brink

PROPERTY belonging to Zimbabwe's largest gold producer, Metallon Corporation, will be auctioned by the High Court to recover an estimated US$30 million owed to various creditors and workers, as the mi...

CRICKET

Zimbabwe Cricket sued over $2,5m debt

Local vehicle sales and maintenance firm, Croco Motors (Private) Ltd, has petitioned the High Court seeking an order to compel the Zimbabwe Cricket Union (ZCU) to repay a $2 560 000 debt which the cri...

INDUSTRIALS & ENERGY

Turnall restructures its short-term debt

ASBESTOS fibre cement products manufacturer Turnall Holdings will be debt free by the end of the 2019 financial year after it managed to offload its $7,2 million loan to the Zimbabwe Asset Management ...

BUSINESS NEWS

Business couple jailed over bank debt

HARARE businessperson Jameson Rushwaya and his wife Annie were yesterday slapped with an order for civil imprisonment after failing to settle a $174 000 loan with the now-defunct Tetrad Investment Ban...

Business couple jailed over bank debt

HARARE businessperson Jameson Rushwaya and his wife Annie were yesterday slapped with an order for civil imprisonment after failing to settle a $174 000 loan with the now-defunct Tetrad Investment Ban...

BUSINESS NEWS

Parastatals debt balloons

PARASTATALS owe the Zimbabwe Revenue Authority (Zimra) over $491 million in unpaid taxes amid warnings that the struggling state-owned enterprises are crowding out funding for social services such as ...

TRANSPORT & TOURISM

Fly Africa set to lose property over debt

Fly Africa is set to lose property over a $17 295 debt owed to a former employee who recently obtained a writ of execution against the airline, following a court order issued by High Court judge Justi...

POLITICS

Ignore ZINWA debts, says Chiwenga

Villagers from Silalatshani under Chief Sibasa in Insiza are free to continue farming without worrying about Zimbabwe National Water Authority debts which were carried over from the bearer's cheque er...

BUSINESS NEWS

ZAMCO to dispose debt assumption-linked equity

THE Zimbabwe Asset Management Company (ZAMCO) - a Reserve Bank of Zimbabwe debt assumption vehicle - has said it will not hold equity for long periods in companies it assumed shareholding through deb...

POLITICS

Councillors call for 50% debt write-off

BULAWAYO councillors are calling for a 50% debt write-off for ratepayers or two months exemption from paying bills to cushion them against the harsh economic conditions.According to the latest full co...

BUSINESS NEWS

Zamco absorbs $32m Starafrica debt

THE Zimbabwe Asset Management Company (Zamco) has taken over Starafricacorporation Limited's $32 million debt owed to different companies.In 2016, at an extraordinary general meeting, Starafricacorpo...

POLITICS

Mnangagwa's ally faces jail term over debt

Deputy Finance minister Terrence Mukupe is today set to appear before High Court judge Justice Edith Mushore, where he faces civil imprisonment over a $32 593 Trust Bank debt.Trust Holdings' banking s...

POLITICS

'We'll pay national debt in 5 years'

Mapfumo Peter Gava, president of the United Democratic Front (UDF) says his vision is to create a new Zimbabwe premised on accountability, fiscal discipline and respect for the Constitution. Mr Gava, ...

POLITICS

Chamisa's MDC-T sued over $10 000 debt

MDC-T led by Mr Nelson Chamisa is being sued for $23 000 by a company that lost a vehicle over a $10 000 debt owed by the party. The political party borrowed $10 000 from Mr Roy Makumbe but failed to ...

POLITICS

Mukupe sinks in debt

FINANCE deputy minister Terrence Mukupe continues to swim in debt with a local school joining the long list of institutions that have taken him to court over debts.The school, which could not be named...

BUSINESS NEWS

'Domestic debt to haunt Zimbabwe'

ZIMBABWE'S huge domestic debt, which runs into billions of dollars, is a big challenge in the post-election period, Finance deputy minister Terence Mukupe has warned.Zimbabwe is set to hold general el...

POLITICS

Mukupe faces jail over debt

FINANCE deputy minister and Zanu PF parliamentary candidate for Harare East, Terrence Mukupe, faces civil imprisonment for failing to service a $32 593 loan received from the now-liquidated Trust Bank...

BUSINESS NEWS

Delma Lupepe faces jail over debt

PROMINENT Bulawayo business tycoon, Delma Lupepe, is set to be incarcerated over a $280 000 Ecobank debt, after he missed an ultimatum to settle the amount by March 21, 2018. Early this year, the fina...

BUSINESS NEWS

Zimra's $4bn debt 'uncollectable'

The Zimbabwe Revenue Authority (Zimra), which is owed a massive US$4,3 billion by taxpayers, fears the debt may be difficult to recover due to a number of factors, including operational challenges fac...

OPINION

Navigating Zimbabwe's debt 'hangover'

It is Tuesday, June 5, 2018 in the morning. Al Jazeera is reporting business news. The Turkish currency, the lira, has fallen against the greenback, once again.The central bank had responded, raising ...