Author Bee Sting

President Mnangagwa yesterday launched an online and mobile platform that enables the public to trade and invest on the Zimbabwe Stock Exchange (ZSE) from anywhere in the world. The President commended ZSE for coming up with the C-Trade platform, the first of its kind in Africa. He said the development would open up financial markets for broader participation on the stock market. “This is indeed another milestone achievement in the financial services sector as this platform will allow the broader spectrum of our society to directly trade and invest on the ZSE. “This development is further set to deepen financial…

President of Zimbabwe Officially opens The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz), $15million  building in Mt Pleasant business Park   Prior to the move Potraz was using $432 000 in annual rentals emanating from rentals of  Emerald Park ofices   Speaking at the official opening of the Potraz Headquarters His Excellency President Emmerson Mnangagwa said ‘this infrastructure is the best physical and organizational structure needed for operation in any society and and enterprise and necessary for an economy to function, It facilitates the production of goods and services as well as distribution of finished products. ‘The construction of…

After officially launching the Gtel X7 recently at the Zimbabwe International Trade Fair, (ZITF) Plus smartphone, featuring the latest android generation custom processor and wireless charging and earphone system. The company’s brand manager Alvin Pande, said the smartphone features deep learning-based software that enables mobile devices to open up a whole new world of user experiences. Building on the success of X6 Plus, the X7 plus exhibits 40 percent more powerful double core performance and offers a seamless multitasking experience, along with one of the best cameras on the market and 3D touch. “Our aim at Gtel is to break new ground and…

State-owned converged  telecommunications firm, TelOne is on a financial come back as  revenues increased to $117 million last year driven by growth in broadband income, while they narrowed their loss by 42% to $7 million in 2017, owing to cost containment and a growth in broadband revenue. According to the company’s financial results for 2017, total revenues jumped by three percent from $14 million in 2016 despite a decline in voice revenue. This was after broadband revenue had grown by 36 percent and reached $45 million in 2017 as compared to $33 million the previous year. The company’s subscriber base grew…

Zimbabwe is consuming an avarage  $1 billion  USD per year  of the much needed foreign currency in fuels alone, putting more pressure on the fiscus as demand of the commodity continues to shoot.  in the last 4 months, the Reserve Bank of Zimbabwe (RBZ) allocated about $474 million towards the importation of fuel , which is way above the $383, 1 million disbursed by the apex bank during the comparative period last year. This tentatively means Zimbabwe needs an average $ 1 422 billion every 12  months, at this rate if we are to sustain and meet the current demands,…

More drama  at Telecel Zimbabwe (Private) Limited (Telecel) as company chairman James Makamba has furtively sought to eject one of his Empowerment Corporation (EC) partners and board member Gerald Mlotshwa. Mlotshwa, who is married to Mnangagwa’s daughter Farai Victoria, was introduced to Telecel Zimbabwe board recently by Makamba, after years of acting his legal partner, it is rumored Makamba could not pay for the legal fees and sold some shares as settlement.  This hardly comes as businessman is locked in a $2,8 million lawsuit with another EC associate George Manyere over 2015-2016 monies given to him as deposit for a…

The Common Market for Eastern and Southern Africa (Comesa) has launched the 50 Million African Women Speak (50MWS) Digital Networking platform in Zimbabwe. The digital platform is part of a broader women economic empowerment initiative funded by the African Development Bank, jointly implemented by three regional economic communities (RECs) namely Comesa, the East African Community (EAC) and the Economic Community for Western African States (Ecowas) in 36  countries. by Tawanda Musarurwa The platform is aimed to connect women entrepreneurs and encourage peer-to-peer learning, mentoring as well as information and knowledge sharing, and will be accessible on information and communication technology (ICT)…

Government has launched the Zimbabwe National Intellectual Property Policy and Implementation Strategy (2018-2022) to spur innovation and creativity in various sectors of the economy. Addressing stakeholders at  a local hotel, Justice, Legal and Parliamentary Affairs minister Ziyambi Ziyambi said strong Intellectual Property protection legislation was essential for innovation and economic success. The Intellectual Property (IP) refers to the distinct types of creations of the human mind with a direct bearing of the human intellect for which exclusive proprietary legal rights are recognized and conferred to a natural or legal person for a certain period of time, IP is generated through research and development…

We earlier on reported an incident of a FBC Bank customer who lost thousands from account due to card cloning, and it seems this crime has gone rampant, with many losing thousands of dollars as criminals duplicate card information. Police have warned members of the public to be wary of a syndicate of criminals that has been swindling people through card cloning, with over 150 cases having been reported countrywide since January. it is understands that several businesses and individuals have lost thousands of dollars through such activities. In a statement, Criminal Investigation Department spokesperson Detective Assistant Inspector Portia Chinho…

FBC Bank is allegedly under bank cloning fraud or account hacking  as account holder (Name Withheld) mysteriously lost  $2, 400 from his account after some non existent  character withdrew money from his account early this year.  The bank is at pains trying to deal with the security vulnerability, a major scourge internationally,  although it is yet to name or confirm the actual cause of funds disappearance, it has not denied the occurrence of it thereof.   According to the client, he approached the bank on January 31, 2018 following indications that somebody had withdrawn money from an FBC bank agent on January 30. Surprisingly, the…

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