Economy

Farai Mabeza ZIMBABWE is currently working on reviewing and developing the second Zimbabwe Agriculture Investment Plan (ZAIP) as it continues to struggle to fully harness its agriculture potential. This was revealed by the Lands, Agriculture, Water, Culture and Rural Resettlement deputy...

Munyaradzi Doma ZB Bank is seeking to partner the Harare City Council in a massive water infrastructure renewal project aimed at reducing non-revenue water and to improve revenue inflows. It is reported that the deal, whose figures have not yet been...

Sydney Kawadza Residents of the former mining town of Mutorashanga believe they have been under the subjugation of either mining companies or the farming dynasties that owned the vast tracts of land surrounding the area. Firstly, the land surrounding the little...

Almot Maqolo HARARE – The Grain Millers Association of Zimbabwe (GMAZ) says it is owed more than $120m by government for roller meal subsidy refunds dating back from last December. This, the association says, was affecting constant supply of roller meal. In...

Munyaradzi Doma For years, a long cherished dream for many would be to live in urban areas, where people enjoy luxurious lives compared to rural areas. The tables have since turned with extreme levels of poverty stalking people in urban areas...

Farai Mabeza The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has increased electricity tariffs by 19.02 percent with effect from March 1, 2020. In a statement, ZETDC acting managing director Engineer Ralph Katsande said from now on it would be reviewing...

FinX HARARE – Cabinet yesterday resolved to set up a Government Employees Mutual Savings Fund with effect from March 2020 wherein Government would provide $100 million as seed for the fund among other proposals to improve the welfare of its...

 Sydney Kawadza A group of executive directors from the African Development Bank visiting Zimbabwe have expressed concern over the rising poverty levels in urban areas. According to the AfDB, the seven-member delegation of executive directors of the African Development Bank visited...

Almot Maqolo HARARE – Grain Millers Association of Zimbabwe (GMAZ) had a torrid time in parliament as it failed to provide concrete evidence on how the US$27 million facility meant for importing wheat and refurbishing Grain Marketing Board (GMB) silos...

Munyaradzi Doma Fuel challenges currently being experienced in the country are now affecting the justice delivery system after an accused in a US$1,4 million fraud case could not be brought to Harare from Bulawayo because Zimbabwe Prisons and Correctional Services vehicles did not have fuel. This was revealed in the case in which Hosea Mkwananzi representing Converging Investments, Ismail Moosa Lunat and Mahomed Iqbal Lunat allegedly swindled USD$1,4 million from a business colleague in a botched property deal. The case was supposed to be heard before Harare Magistrate Morgan Nemadire, when lawyer Nqobani Sithole revealed that Ismail Lunat was at Bulawayo's Khami Prison where he was locked up for another case but ZPCS had failed to bring him to Harare. "Accused 2 (Ismail Lunat) is currently held at Khami Prison in Bulawayo over a 2018 case but prisons did not bring him to Harare because they don't fuel. "However accused 2 and 3 have concerns because of these days, delays which are being caused by the State. There is a court order that the accused should be brought to Harare. "Whether there is fuel or no fuel, court orders should be followed," submitted Sithole. In response, prosecutor George Manokore said challenges of fuel are public knowledge hence could not be blamed on the State. "This fuel issue is not our own making because it is well known that issue of fuel is a national issue, it is affecting individuals, companies and even ministries are also affected," said Manokore. Magistrate Nemadire ruled that the case should continue tomorrow and the State should put its house in order so that the case continues. The complainant in the matter is Toppers Uniforms represented by Mahomed Zakariya Patel. It is said Patel is a close associate of the the two Lunats and that his (Patel) sister is married to the two’s brother’s son. Allegations are that sometime in August  last year, Moosa Lunat approached Patel saying that he was selling one of Mkwananzi’s properties in Bulawayo for USD$1,5 million. It is the State’s case that Moosa Lunat said the property was developed with a two story building. Indications are that Moosa Lunat invited Patel to Bulawayo to view the property  and he viewed it, before he (Patel) asked for a discount. It is alleged that Moosa Lunat reduced the price to USD$1,4 million and an agreement was reached. On September 4 last year, it is said a written agreement was signed but in all of this, it is alleged Patel thought all was in order. Patel is alleged to have been given some title deeds which were said to be originals not knowing they were fake. The said property is alleged to have been sold to Timothy Mafuka Nkomo in 2005 by Iqbal Lunati represented by Moosa Lunat. Thinking that everything was above board, it is said Patel paid USD$1million to Moosa Lunat in Bulawayo and the latter signed for the money. On November 25 last year, it is said Moosa Lunat approached Patel seeking balance of USD$400 000 and the latter paid the money. In further pursuant to the fraudulent act, it is said Moosa Lunat had the property revalued to USD$2,2 million and he asked Patel to top up on the initial amount he had paid. Patel is alleged to have denied the top up. It is the State’s case that Patel started asking for the deed of transfer but Moosa Lunat became evasive. Iqbal Lunat is said to have been roped into the deal and it is said he alleged that he had been sent by Moosa Lunat to demand the said original deed of transfer. It is alleged Iqbal Lunat further told Patel that the said property had not been sold and that Moosa was never Mkwananzi’ director hence he could not sell the property. When Patel made further inquiries he discovered that the documentation he had been shown for the property was all fake and he had lost USD$1,4 million and nothing was recovered.