BY TATIRA ZWINOIRA

ECOBANK Zimbabwe Limited reported an 82% increase in after-tax profit to US$40,04 million for the year ended December 31, 2018 due to increased net interest and non-interest income.

The improvement in profit after tax was from a previous of US$22,02 million recorded over the comparative 2017 period.

“The bank reported an 81,8% increase in profit after tax from $22 million in December 2017 to $40 million in December 2018. This was mainly attributed to a year-on-year increase of 42,4% in net interest income and a 44,8% year-on-year growth in net fees and commissions,” the bank’s managing director Moses Kurenjekwa, said in a statement accompanying the bank’s results.

Net interest income grew to US$49,37 million for the period under review from US$34,66 million in 2017.

The growth was largely driven by an 80,44% growth in interest and similar income earned off Treasury Bills which grew to US$28,63 million in 2018 from US$15,86 million.

The bank more than doubled its stock of Treasury Bills to US$380,08 million during the period under review.

Interest and similar income earned off loans and advances grew to US$24,5 million in 2018 from US$21,97 million in the previous year.

This was buoyed by a 31% increase in the loan book which grew to US$206,2 million.

Net non-interest income, fees and commissions grew to US$23,32 million in 2018 from a comparative US$16,54 million, earned in 2017.

The bank also recorded a 171% increase in gains from dealing in foreign currencies to US$10,23 million for the period under review from a 2017 comparative of US$3,78 million.

“The rise in net interest income was due to the increased investment in government securities from US$185 million at the beginning of the year to US$380 million at the end of 2018. Growth in fees and commissions was driven by the establishment of import letters of credit,” Kurenjekwa said.

Deposits, during the period grew 102% to US$913,69 million from US$452,43 million in 2017.

Administrative expenses grew from US$22,82 million to US$27,43 million.

BY SIMBARASHE SITHOLE

Artisanal miners around the mining town of Bindura flocked to Club 1160 on Saturday night to see the veteran dancer and musician Precious “Wasu Dacoda” Makwame live on stage with her Syndicate dance group.

Wasu is currently riding high on live shows with her latest album titled Kumazivandadzoka, set to be released next month, giving artisanal miners a good time dancing to sungura when she sampled her track Pemberai, which she featured sungura artiste Tatenda Pinjisi.

The Syndicate boss thanked the miners for exercising discipline at her show though she was afraid of the place following a horrific incident where two soldiers were allegedly killed by gold panners a few weeks ago.

“When we came to Bindura we were so much afraid of the artisanal miners after reading their suspected murder stories and the rampage by soldiers in assaulting residents, so we thought our show would be spoiled by violence or would flop, but thank God we had one of the finest shows here so far, we would like to thank the miners for being well disciplined,” she said.

Club 1160 proprietor Nyasha Muwomba also shared the same sentiments after witnessing a peaceful show at his club.

“I would like to thank the miners for being disciplined. We never witnessed any violence . . . no arrest was made; this shows maturity in our miners, who came to party and nothing else,” said the elated Muwomba.

Meanwhile, Wasu ended her weekend gigs with a family show yesterday at Charehwa Matombo bar in Budiriro, Harare with Pinjisi supporting her.

by Staff Reporter

GWANDA municipality, which is eyeing city status in a year, has dangled a carrot to investors by giving out an avalanche of incentives to lure investors to the gold mining town.

The town is located 126km south east of Bulawayo, and is the capital of Matabeleland South province.

Council has dangled a 25% discount on land sale, additional 10 % discount for outright cash payment towards land value, 100% removal/waiver of development levies if construction commences within 12 months from day of purchase of land and exemption from payment of council rates for the first 12 months.

Economic centres surrounding Gwanda include Mbalabala, West Nicholson, Filabusi, Esigodini and Matobo.

The town is endowed with natural resources, which include, but not limited to gold ore, lime ore (at PPC Mine), livestock rich grazing land, granite and beautiful geographical landscape for tourism on which it hinges its economic growth.

Despite being endowed with all these resources, the town has nothing to show in terms of development which has prompted the town fathers to line up a number of incentives to woo investors.

In an interview at the local authority’s stand at the Zimbabwe International Trade Fair in Bulawayo last week, the town’s economic development officer, Mandlenkosi Moyo said the local authority was in overdrive to woo investors to the gold mining town.

“We have target areas which we are promoting and our theme is ‘infrastructure development to make industry tick” which is aimed at creating a conducive environment for industrial development and sustainable service delivery. We have also improved our road network to be an envy of many, thanks to the Zimbabwe National Road Administration funding,” said Moyo.

He said artisanal miners were the force behind economic growth in the region, producing more than the combined effort of the three big mines in Gwanda namely Blanket, Vumbachikwe and Farvic.

Moyo said the local authority was also targeting to increase hotel rooms in Gwanda as they only stand at 100.

“Gwanda is the capital of Matabeleland South; we do have land set aside for investment in hotels and lodges. We are coming from a background where land was sold to people who had no capacity and we can’t grab the land back. We have another space earmarked for investment in the hospitality and tourism sector, but we are not going to give out to someone without a business profile,” said Moyo.

He also invited investors to invest in quarry mining at Masholomoshe Mountain given that most of the town’s construction aggregate comes from Bulawayo.

Moyo said livestock value-addition chain investors were welcome to come and invest and tap into the large stock of livestock which Gwanda is endowed with.

By Garikai Mafirakureva

THE country’s continued economic meltdown has forced nurses and staff at Chiredzi General Hospital to device bizarre methods of supplementing their meagre salaries.

It is alleged that they have thrown professional health standards through the window, and are now selling repacked overnight mahewu and uncertified frozen water to patients admitted at the hospital.

This was revealed by Tafara Pondiwa, the director of Divine Foundation Trust — a community-based organisation that focuses on career guidance and advocacy on social and educational issues and educational requirements for under-privileged children and physically challenged children.

In a letter addressed to the hospital matron, seen by Southern Eye, Pondiwa highlighted his organisation’s health concerns and the risks patients were exposed to as a result of the nurses’ conduct.

Part of the letter read: “The problem we are encountering is at the hospital and especially in the wards is the selling of home-made repacked overnight mahewu and frozen water to hospitalised patients by nurses and police officers’ wives, who are putting patients at risk of disease infection.

“As an organisation we are worried about the stuff sold because it has come to our attention that they pick used bottles and re-pack them with water and mahewu. We request your office to help us by enforcing and restricting the sale of such food items in hospital wards.”

Pondiwa added that they were forced to write to the hospital after efforts to engage those involved proved futile. “As you can see the hospital stamped this letter acknowledging that they have received it. Now we are going to take further action to put this practice to an end. They have given us a deaf ear, maybe they think they are above the law.

“We know the economic situation is not favourable, but we thought nurses, as people who uphold highest levels of health standards they were going to be the last people to engage in such a practice,” he said.

One patient, who spoke on condition of anonymity, said she was not aware of the health risks she was exposed to and instead said she was grateful to have cold water at a cheaper price.

“I do not think there might be any health issues to talk about, because I enjoy their mahewu as well as their cold water. It is a fact that Chiredzi is one of the hottest districts, so that is the only way we can cool ourselves. “We are saved from walking to the nearest shops (those who can walk) and the products are cheap.”

Chiredzi General Hospital superintendent, David Tarumbwa could not be reached for comment. His mobile went unanswered.

Health and Child Care minister Obadiah Moyo said investigations can only be carried out if the questions are forwarded to the ministry’s public relations manager Donald Mujiri.

“Just contact Mujiri and he will give you the answer after investigations,” he said.

However, Mujiri could not be reached for comment as his mobile also went unanswered.

By Miriam Mangwaya

TWO men, armed with a rifle, allegedly broke into former First Lady Grace Mugabe’s Chivhu rural bedroom in Mazhawidza village on Thursday.

The suspects, Simbarashe Chokera (25) of Chivhu and Julias Monera (21) from Buhera, had committed a series of robberies in the Chivhu area before the latter was caught red-handed while carrying mattresses he had stolen from Grace’s bedroom.

The duo appeared before Chivhu regional magistrate Fadzai Mutombeni on Friday facing five counts of armed robbery and unlawful entry charges which occurred in Chief Musarurwa’s area.

They pleaded guilty and were remanded in custody to today for sentencing.

Allegations are that on March 24, Chokera broke into Andrew Gona, a Featherstone farmer’s house and stole a loaded Bruno rifle, ZWL$2 100 cash and a cellphone.

Two weeks later, Chokera and Monera broke into Grace Marimira’s house, pointed the stolen firearm towards her and threatened to shoot her if she resisted.

The complainant managed to escape, leaving the suspects in her house.

They stole R1 400, ZWL$27 cash and some property.

On the other two separate occasions, they waylaid the complainants, Reason Chikumbirike and Beatrice Shindi, who were walking along a footpath and robbed them of their property valued at US$224.

On April 24 at Grace Ntombizodwa Mugabe (nee Marufu)’s Marufu family homestead, the two broke into the house, but a family member Revai Marufu, spotted them before they left.

They pleaded with her that they would return the two mattresses they had stolen so that she would not report them to the police.

When Monera entered the house to return the stolen property, Marufu locked him from outside and the matter was reported to the police.

Monera led the police detectives to Hokonya Mountains, where Chokera was hiding.

Police recovered some of the stolen property at the duo’s residence in Chivhu town.

Corrence Chimbadzwa appeared for the State.

Nicholas Shonhai

BY DEMETRIA MANYONGA

A LOCAL entertainment outfit, Blackman Entertainment, is set to host a series of shows around the country to support the arts industry.

The outfit is made up of students from Chinhoyi University of Technology.

Group founder, Nicholas Tinashe Shonhai, told NewsDay Life & Style that they had five shows lined up this year.

“We have the braai fest volume 2, which is one of our biggest events, the cancer awareness campaign, beerfest, miss winter as well as miss summer,” he said.

“The braaifest, set for Chinhoyi Caves next month, will have an international artiste as well as the fireworks display at the end of the event. The beerfest lined up for August in Gweru will have ZIMPACT, a charity organisation which raises awareness on drinking and driving. On May 2, we will host miss winter 2019 under the theme “masquerade” and miss summer, which is about cancer awareness with a pink theme since our main aim is to bring cancer awareness to every woman.
It will be held at Naisha Gardens in Harare. Hot summer is scheduled for December.”

Shonhai said the events will happen annually at different venues.

He said socialite Genius “Ginimbi” Kadungure and Mike Mamombe will be the guests of honour, while music will be provided by ExQ, Bryan K and Ishan.

“We, however, need to polish up from last year’s mistakes and improve this year in our event executions and bring memories and awareness to the (cancer) issues around the country. We are hoping for a great year regardless of all the external economic issues,” he said.

The public relations and events management outfit was incorporated in 2015 and has hosted artistes such as Jah Signal, Baba Shupi, Killer T, Seh Calaz and Bazooker.

Shelton Mubayi

BY TENDAI SAUTA

CHITUNGWIZA-BASED visual artist and winner of the 3-dimension visual art award at the recent National Merit Art Awards (Nama) Shelton Mubayi said gender equality, education and entrepreneurship were the recurrent motifs in his artworks.

Mubayi, who works with the Chitungwiza Arts Centre, told NewsDay Life & Style that training under the tutelage of his father, virtuous stone carver Sylvester Mubayi, had helped him to be precise in his works.

He said clinching the Nama award had inspired him to do more.

“Having been awarded the Nama accolade, I intend to get further grooming to be a world-class communicator through visual arts. It is fantastic to be recognised on home soil, because my works have been greatly accepted internationally. But strength is built from home,” he said.

“I always put tenacious efforts on my creations, figures of human, birds and abstracts on serpentine, spring stone, leopard rock and lapidolite amongst other rock stones.”

Mubayi, who is also a trainer and a hospitality practitioner with a diploma in tourism and business studies and a certificate in art and design, said he had done several local and international workshops.

Despite being well-travelled around the globe, Mubayi said he also took time to train sculpturing to children in his neighbourhood, but his desire was to put Chitungwiza on the global map.

“It is part of my vision to have community tourism in Chitungwiza, whereby people fly to learn the Shona stone artwork at Chitungwiza Arts Centre,” he said, adding that for him, visual art was a combination of hobby, passion and profession.

Caps United striker John Zhuwawu celebrates his team’s first goal against Bulawayo Chiefs at the National Sports Stadium yesterday

By Munyaradzi Madzokere

Caps UNITED . . . . . (2) 4
BULAWAYO CHIEFS . . . (0) 1

Harare giants Caps United conceded a goal for the first time this season, but the Green Machine still continued with their brilliant run, making light work of struggling Bulawayo Chiefs at the National Sports Stadium yesterday.

Gabriel Nyoni, Joel Ngodzo, Dominic Chungwa and an own goal by Takunda Muzuva gave Lloyd Chitembwe’s men their biggest victory of the new season.

Caps United remain fifth on the log standings with 10 points in four matches, having won three matches and drawn once.

However, Makepekepe have a game in hand over the top four teams on the league table.

Bulawayo Chiefs are yet to pick a point in the league so far after losing all their four matches and they have since conceded 11 goals, while they scored for the first time yesterday.

Chitembwe was pleased with his team’s performance, particularly the forwards.

“We knew that one day, we would win by four or five goals, but we didn’t think that it would come this early in the season. What makes me happy is that the goals were scored by three members of the attack. It shows that we have potent strikers,” he said after the match.

“I thought were in control in the first half, especially with the two goals. They helped to settle us because we knew that they (Bulawayo Chiefs) would be sitting deep to defend. We were organised in the first 20, 30 minutes and the boys were at another level today.”

Caps United took the lead after 11 minutes through an own goal by Muzuva.

Zhuwawu had risen the highest to meet a Valentine Ndaba corner kick, but he failed to direct his header. Luckily, the ball bounced off Muzuva and trickled into goal.

The hosts’ goalkeeper Prosper Chigumba had very little to do as the Bulawayo Chiefs posed no threat.

It was only a matter of time before Caps United doubled the lead and the moment came halfway through.

Veteran defender Method Mwanjale picked out Gabriel Nyoni with a long-range pass and the latter rounded his marker before dinking the ball over David Bizabani.

The margin could have been bigger, with Caps United missing decent chances through Nyoni, Ndaba and Zhuwawu.

The Green Machine picked up from where they left off in the first half, with Chungwa getting in on the act to finish off with a diving header after a perfect Phineas Bamusi pass six minutes into the restart.

Caps United were four goals ahead moments later, with Ngodzo blasting home from inside the box after some good work on the right by Nyoni.

Kundishora Chakanyuka and Thomas Chideu had good chances in quick succession for visitors and both fluffed them.

Musiyiwa pulled one back for the visitors in the 63rd.

He blew another golden opportunity, blazing high after coming face-to-face with Chigumba.

Ronald Chitiyo made his comeback after a lengthy injury lay-off, coming on as an 86th minute substitute.

“We gave Caps United a lot of respect in the first half, unlike last year when we did not fear any team. It’s because we have a lot of new players. The whole of the second half, we were the better side, but they were already sitting on a comfortable lead,” Bulawayo Chiefs coach Thulani Sibanda said.

Teams

Caps United: P Chigumba, V Musarurwa, V Ndaba, G Goriati, M Mwanjale, B Sarupinda, P Bamusi, J Ngodzo (K Nyamupfukudza 89’), G Nyoni (N Sianchali 70’), J Zhuwawu, D Chungwa (R Chitiyo 86’)

Bulawayo Chiefs: D Bizabani, S Nyahwa, A Musiyiwa, M Mkolo, L Matizirofa, T Muzuva, T Mthimkhulu (T Chideu 31’), L Ndlela (S Sibanda 56’), B Mpofu, K Kundishora (M Majika 65’), P Sibanda

Develop Me: Tapiwa Gomo

LAST week I watched a video of Patrick Chinamasa chanting the ED-pfee slogan pitching the Mnangagwa presidential candidacy for the 2023 elections. For some, kicking off elections campaign for 2023 this year might seem too early considering the challenges that the current government is grappling with.

In fact, it is a hard-sell to campaign for a leadership that is yet to prove itself to those who voted for them in the last election. But then again, performance and delivery are not Zanu PF’s strongest points, neither are they their selling points, nor will they care about them. They have never relied on them to win elections as they have used other means to secure and retain power.

It might be necessary to situate Chinamasa’s campaign show within the context where Zanu PF did the unthinkable this time around. They pruned off the old guard and dumped them at the party headquarters where they have nothing much to do except to occupy themselves by visiting various areas and keeping their voters engaged. Where the MDC Alliance is reportedly failing to pay its staff, Zanu PF now has that added luxury of deploying the old guard to the trenches, while those in government focus on the business of the day. They have been generous in re-engaging their prodigal children back into their camp to minimise unnecessary political noise.

Only time will tell if this strategy will work given the several factors at play. Zimbabweans have been unhappier since the new-yet-old order took over power.
The economy is far from recovering and the prices of goods and services continue to rise in an economic environment characterised by unpredictability. The discord between government policies and business community behaviour demonstrates a weakened leadership that has run out of ideas and a lack of cohesion between the two.

The recent bread price hikes illustrate this point where the government claims to be unaware and yet they have nothing to say about this development. It shows they are either aware of the real economic factors driving the prices upwards or they are simply captured to the extent of being unable to act on errant behaviour. Whatever the case may be, bread is a vital part of our diet.

Policy failures that affect the availability and affordability of bread have direct influence on the opinions of urban voters. Bread is one of the symbols of the national and household economy. Most of the activities at individual and household level are somehow linked to bread. It should not be tampered with because its absence from homes is one of the indicators of government failure. It would be interesting to see how the ruling party will turn around the economy before 2023.

The voting demographics are, meanwhile, no longer in favour of the ruling party. The young population, who constitute the majority, are tired of failed promises and the older generation that followed the party religiously peeled off with former President Robert Mugabe’s departure from office. In addition, the number of voters born after the beginning of the collapse of the economy in 1999 will be much higher than those who have seen a better Zimbabwe between 1980 and 1999. Already in the 2018 final voters’ roll, compiled by the Zimbabwe Electoral Commission, young people between the ages of 18 and 22 made up the highest number of registered voters. And the numbers will continue to grow.

This age group does not know a better Zimbabwe. They have only been told that once upon a time, there was a Zimbabwe that could feed itself, that had plenty of jobs and opportunities for its people, a country where access to services, albeit limited, was guaranteed in urban areas. They have heard that Zimbabwe was once a country of hope and dreams and all that went down the drain because of the same people in power today. They now know that Zanu PF is a wingless bird, that will never fly even though it keeps promising a take-off in every election.

They are also aware that the state of the economy is not a natural phenomenon, but human made. They have endured the pain of watching their parents selling household items to send them to school and university only to be confronted by high unemployment rates, a barren economy and the dead end to fulfilling their dreams under the current leadership.

They are also aware of the potential this country holds. They know that the people in power today punctured this economy and have scared both traditional and potential investors to help mend it. They will not need to be reminded that a future with the same people in power today will be doomed. And 2023 will be their best chance to claim their country back and afford themselves the opportunity to rebuild it.

 Tapiwa Gomo is a development consultant based in Pretoria, South Africa

BY DESMOND CHINGARANDE

A CHITUNGWIZA man on Saturday appeared at the Harare Magistrates’ Court charged with unauthorised use or possession of debit cards after he allegedly cloned bank debit cards for CABS account holders and transferred a total of $69 000 before he converted the money to his personal use.

Donald Shorai Jima (29), of Zanuyotonga Road in Zengeza, appeared before magistrate Barbara Mateko, who remanded him in custody to today for his bail application.

The complainants in the matter are Amanda Zietsman, John Clark and Valentine Vincent Oldfield, who are all CABS account holders.

It is the State’s case that during March 27 this year, Jima and his accomplices, who are still at large, hatched a plan to clone the complainants’ bank debit cards and they made some balance enquiries into Zietsman’s bank account and discovered that it had over $9 000.

The State alleges that the next day, Jima and his accomplices went to Mahusekwa business centre and approached Wellington Mushonga, who owns two Agribank point-of-sale machines and they swiped a total of $9 000 from Zietsman’s account into fraudulently registered EcoCash numbers.

The gang also made several purchases at Chikwana Hotel, where they purchased expensive beers and also at Millennium Bar and Guzha Chikwana Bar.

It is further alleged that on April 13, Jima and accomplices cloned Clark’s bank card details and they went to one Saul Karimbika, who operates a hardware at Chikwana and swiped $4 000 to purchase agricultural inputs.

After that, they purchased expensive wines at Chikwana Hotel.

On the same day, the gang allegedly cloned Oldfield’s account and they made several purchases at Kebab Drive Inn Night Club, Paramount Bar and Karimbika’s Hardware, totalling $3 300.

The court further heard that on April 15, the accused person together with his accomplices went to Mahusekwa and again approached Mushonga and swiped a total of

$9 000 into their fraudulently registered EcoCash numbers.

Jima was arrested on April 26 after he went to Karimbika’s Hardware with printouts from EcoCash to confirm that he had not received the $500 which was still outstanding.

The State said in all the transactions, nothing was recovered.

Flossy Jambanja appeared for the State.