Nigel Chanakira’s Kingdom Bank Africa Limited faces liquidation

Nigel-Chanakira

BOTSWANA’S central bank has been granted an order by the High Court in that country to liquidate Nigel Chanakira’s Kingdom Bank Africa Limited due to insolvency, the bank said on Friday.

The Bank of Botswana announced that the period of temporary management of KBAL ended on May 18 and that due to insolvency, it had successfully applied for its liquidation at the High Court of Botswana and the order was granted on May 12.

The bank’s liabilities exceed its assets by approximately $17 million.

“The High Court of Botswana granted the final winding-up order in respect of KBAL and appointed Mr Max Marinelli and Mr Chris Bray, both chartered accountants of Gaborone, to act as joint liquidators, and they will shortly commence the necessary winding-up processes,” said the BoB in a statement.

During the temporary management period, the managers found that the assets base of the bank had been severely eroded due to a number of factors which gave rise to liquidation problems and ultimately insolvency, the bank said.

“These problems have negatively impacted on KBAL, its ability to continue as a going concern and its ability to meet its obligations to its depositors,” it said.

The bank said it had commissioned a forensic audit of the financial affairs of KBAL with a particular focus on some investments and placements at foreign financial institutions which was ongoing.

KBAL was Chanakira’s sole foothold in the financial sector after Mauritian firm, AfrAsia Bank Holdings, bought him out of Kingdom Financial Holdings, which it rebranded AfrAsia Zimbabwe.

AfrAsia in February pulled out of Zimbabwe, leading to the local bank surrendering its operating licence and placing the its two subsidiaries, microfinance firm MicroKing, and asset manager AfrAsia Capital Management (ACM) under a cloud.

The bank has since been placed under provisional liquidation. source-newzimbabwe

photo- Nigel Chanakira-herald

‘Tsvangirai won 2008, if he marched to statehouse he would have easily taken over’-Mutasa

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FORMER intelligence minister Didymus Mutasa has revealed for the first time that the MDC-T actually won the 2008 election by a narrow margin.

Mutasa told the South African Sunday Independent newspaper that Zanu PF people were so shocked by the result that he, as security minister, rushed to protect President Robert Mugabe at the State House.

The former Zanu PF secretary for administration added that they were “absolutely shocked” and had Morgan Tsvangirai decided to claim his victory by marching to Mugabe’s residence he would have taken over and with ease.

He said: “I immediately drove, at speed and alone, from my home in Rusape, to State House in Harare.

“I was terrified, I had to go and protect the president from harm as we were frightened Tsvangirai would do what he said he would do and march to State House. If he had, no policeman would have stopped him.”

According to the Sunday Independent, Mutasa blamed Tsvangirai for fleeing to Botswana in the aftermath of the polls. “Instead,” Mutasa said, “Tsvangirai went to Botswana.”

Tsvangirai’s flight to Botswana in 2008 has also been criticised by senior researchers and analysts.

In his article titled The Tragedy of Tsvangirai, Professor Stephen Chan, who observed the 2008 elections, also suggested that the MDC-T leader’s decision to escape to Botswana may have been a blunder.

According to Chan, Tsvangirai was advised by the US embassy to do so because it was felt that indeed there was a plan to assassinate him.

Tsvangirai was to pull out of the rerun after Zanu PF unleashed a wave of violence against the electorate making the poll one of the most violent elections in the history of the country.

Mutasa added: “I don’t know how much cheating there was in elections, but I do know that in 2013 (finance minister) Patrick Chinamasa cheated to win. He bussed people in (to vote for him.) I protested to him and to the Zimbabwe Election Commission.

“We will never know how many people voted for Zanu-PF out of fear. I didn’t know there was fear in those days. I now see it myself. And there is a lot of fear. And I must say, again, I am very, very sorry. That I must stand up to be counted.”

According to the paper, Mutasa said he “regularly chaired” the Joint Operations Command which meets once a week to discuss pressing state security matters.

“We discussed many things, such as violence. How to stop it. If food was short we talked about how to find it, usually from South Africa. The joint command did produce top- secret documents every week.

“Secrecy still binds me, from when I was minister. But of course you know that some waiters in hotels work for the CIO. Your phones are listened to a lot. The CIO is huge.

“It produces many reports. From the UN there will regularly be a report. A report about the British. Or India. Not very good reports really. I had to read them. They made me tired.”

Mutasa, who is now guarded by private security after he was fired from government and Zanu PF, admits that he is now aware that his former party is violent.

“I do now know that Zanu-PF did violence. And cheated in elections. But both sides did violence, I accept it was mostly Zanu-PF violence. I am very sorry about that.”

“Zimbabwe has become a miserable place. I say this about the state, my country,” Mutasa said.

“Now everybody is broke. The economy is broke, mining, agriculture, and we should have done something about that 10 years ago.

“Now it is too late.”

According to the report, Mutasa denied any knowledge of specific events such as the May 2008 murder of Tonderai Ndira, one of the MDC-T activists.

On the 1980s Gukurahundi genocide he said: “I did not know about Gukurahundi as I was Speaker of Parliament in Harare for the first 10 years of independence.

“We didn’t speak about it in parliament. No one told me about it. I would only know about violence if I read it in the newspapers,” Mutasa said.

The 80 year old Mutasa also disdains VP Emmerson Mnangagwa who is widely seen as the engineer of the demise of the Mujuru faction to which Mutasa belongs.

“He (Mnangagwa) never won an election for that post. Mugabe appointed him, and he is not popular. He can’t win elections.” source-newzimbabwe

photo-Former Zanu-PF secretary for administration Didymus Mutasa in crisis discussion with Mugabe , back in the days of Zanu PF ‘terror’

Bulawayo city council defies gvt June 26 deadline and tells vendors to stay put

20-10-2013-Sign Byo

THE MDC-T run Bulawayo city council is spoiling for a fight with Government after top officials told illegal vendors to ‘relax’ at their illegal sites.

Bulawayo mayor Martin Moyo told hundreds of vendors at a stakeholders meeting today at the Small city hall that the June 26 deadline would be impossible for them to meet by providing legal vending sites.

As such Moyo said vendors should ‘relax’ at their illegal sites while BCC “works out something”.

1, 975 vendors have applied for vending licences.

“As council we want to assist you in the best manner as we could.

“Industries have closed and taken over by churches and many people have resorted to vending” said the MDC-T mayor.

He added “We wont be able to meet Government June 26 deadline.

“However, we pledge to work out something soon.”

Local government minister Ignatius Chombo has had several run-ins with BCC and several MDC-T led local authorities by Thobekile Zhou.Source: Byo24News

Prosecutor general, Johannes Tomana rules out resigning-‘Handiende!!’

Johannes-Tomana

Under fire Prosecutor General Johannes Tomana has dug in his heels declaring he would not be haunted into resigning from his post following his alleged gaffe over the age of sexual consent.

Tomana last week torched a fierce storm after he was quoted as saying children below the age of 16 could legally consent to sex and marriage.

He indicated his statement had been misinterpreted and politicised to force him out of government but vowed to hang on despite the heavy criticism.

Tomana has also refused to clarify controversial parts of his recorded speech on the issue that 12 years can consent to sex.

Tiomana said he would not continue discussing the issue with the paper because it was making “fun out of him”. He said his earlier clarification on the matter was framed as a “climb down” a view which he said suggested that the Herald was sticking to its earlier story.

Meanwhile, children’s rights activists have called for an immediate firing or resignation of Prosecutor General Johannes Tomana over his controversial views on child marriages.
Source: newsday

‘I knew nothing about gukurahundi as I was only, the speaker of parliament’-Mutasa

didymus-mutasa

 

FORMER intelligence minister Didymus Mutasa has revealed his disdain for VP Emmerson Mnangagwa who is widely seen as the engineer of the demise of the Joice Mujuru faction to which Mutasa belongs.

Mutasa told the South African Sunday Independent newspaper that Mnangagwa never won an election.

“He (Mnangagwa) never won an election for that post. Mugabe appointed him, and he is not popular. He can’t win elections,” said Mutasa.

Mutasa also revealed for the first time that the MDC-T actually won the 2008 election by a narrow margin.

Zanu-PF people were so shocked by the result that he, as security minister, rushed to protect President Robert Mugabe at the State House.

According to the report, Mutasa denied any knowledge of specific events such as Gukurahundi.

On the 1980s Gukurahundi genocide he said: “I did not know about Gukurahundi as I was Speaker of Parliament in Harare for the first 10 years of independence.

“We didn’t speak about it in parliament. No one told me about it. I would only know about violence if I read it in the newspapers,” Mutasa said.

Mutasa, who is now guarded by private security after he was fired from government and Zanu PF, admits that he is now aware that his former party is violent.

“I do now know that Zanu-PF did violence. And cheated in elections. But both sides did violence, I accept it was mostly Zanu-PF violence. I am very sorry about that.”

“Zimbabwe has become a miserable place. I say this about the state, my country,” Mutasa said.

“Now everybody is broke. The economy is broke, mining, agriculture, and we should have done something about that 10 years ago. “Now it is too late.”
Source: online/ bulawayo24

photo-Mutasa-Herald

‘Grace Mugabe’s son ‘Russel Goreraza’ falsifies court submissions to escape jail’

First-Lady-Grace-Mugabes-son-Russell-Goreraza

First Lady Grace Mugabe’s first born son Russell Goreraza allegedly made misrepresentation at the Harare Magistrates Court over his marital status in a reported bid to walk away with a lenient sentence after being recently convicted of culpable homicide.

Goreraza allegedly misled the court two weeks ago when he appeared before Harare provincial magistrate Vakayi Douglas Chikwekwe on a charge of fatally running over a city vagrant.

However NewsDay claims that it has it on good record that Goreraza’s divorce matter was still pending at the High Court under case number HC11013/14.

According to the court papers, President Robert Mugabe’s step son filed for divorce against Gladys Chiedza Goreraza (nee Chiwaya) on December 11 last year and the matter was yet to be entertained by the judges of the High Court.

Goreraza told the court that he was a divorcee who was looking after his minor child with his “former” wife.

Goreraza’s submission, however, persuaded Chikwekwe to spare him a jail term and instead fined him $800 for an offence which often attracts incarceration and cancellation of the driver’s licence or prohibition from driving for a certain period. Source: newsday.

photo-First Lady Grace Mugabe’s son Russell Goreraza-nehanda radio

Former soccer star – Charles Sibanda in Mpilo Central Hospital after car crash

Charles-Sibanda

Former soccer star of the year – Charles Sibanda survived a car crush on Sunday and is currently hospitalised at Mpilo Central Hospital.

Information gleaned by Bulawayo24.com indicate that Sibanda, a How Mine player broke his ribs when a car he was in was involved in an accident along Nketa Drive in Bulawayo.

This comes weeks after his former Highlanders team-mate Mthulisi Maphosa survived a horrifying accident after his car Honda CVR burst the front tyre after hitting a pothole.by Thobekile Zhou. source-bulawayo24

photo-Charles Sibanda-nehanda radio

‘Brighton Matimba’, the MDC T coordinator of welfare department has died.

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The MDC-T has official announced the death of its member Brighton Matimba who was the coordinator of welfare department in the party.

The party through its official facebook page announce that It is with deep regret that it announces the death of  Matimba, the party’s head of the Welfare Department.

“Matimba was a dedicated party cadre who served the MDC with distinction since 1999,” reads the post.

“He was the key man in the provision of assistance and looking into the welfare of all victims of Zanu PF and State brutality throughout the country. He will be sorely missed in the party.”

The party said mourners are gathered at No//5469, Manyame Park, St Marys, Chitungwiza.

“Our thoughts and prayers are with the Matimba family in this sad hour,” reads the post. by Stephen Jakes. Bulawayo24

Nicholas Goche’s son dies in South africa.

nicholas-goche

Former Zanu PF hawk, Nicholas Goche’s son, Nicholas (jnr) Goche reportedly died in South Africa last week after collapsing at his apartment.

According to close family sources that did not want to be quoted, Nicholas (jnr) died in South Africa after collapsing and fracturing his skull at his flat in Morningside, South Africa.

Information availed to reporters is that Nicholas (jnr) was chatting with a relative on Sunday 14 June 2015 and suddenly went quit.

This prompted the relative to rush to his flat. The relative broke into the flat and found Nicholas (jnr) lying down which prompted the relative to call an Ambulance which responded after some time.

“Doctors had to put him in a medically induced coma but he succumbed to to the injuries during the week,” said the source.

Nicholas has been on kidney dialysis for sometime.

According to the state controlled Chronicle his father is said to have skipped a meeting in Victoria Falls on Saturday.

People were told that Goche has lost his son.

During Zanu-PF’s great purge in 2014, Goche (senior) was fingered by the current Zanu-PF leadership as the brains behind former vice president, Joice Mujuru’s faction, which they accused of hatching a plan to topple President Robert Mugabe from office.

Goche was said to have approached hit-men in foreign lands to assassinate the Zanu-PF leader, who recently assumed the African Union chairmanship.

Upon being confronted by President Mugabe over the issue, Goche denied the accusations, laying the blame on the State media for fabricating the allegations.

The weeks that followed saw his political career lie in ruins. He failed to land a position in the Zanu-PF policy-making organ – the Central Committee – after he was barred from contesting by militant youths in Bindura.

His health also took a battering. He spent the entire duration of the Zanu-PF congress in the intensive care of a local private hospital gravely ill following what insiders say was a hypertension attack.
The attack could have been precipitated by accusations of working against his boss. by Thobekile Zhou. Source: Byo24News

photo-nicholas Goche-newsday

US $4 million disappears from war veteran’s pension and education fund

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Mugabe’s Zanu PF regime, has initiated an audit of the war veteran’s pension and education fund in an investigation that seeks to determine what has happened to a whopping US$4 million which disappeared from the Zimbabwe’s war veteran’s pension and education fund.

Currently, there are indications that the war veterans are furious due to non disbursement of their monthly payouts and education allowances for some months, a situation explained by the lack of funds.

War veterans argue that some of their children have been forced out of education even though the War Veterans and Pension fund department was allocated US$4 million , money which suddenly cannot be traced any longer.

Corruption, theft of resources and the lack of accountability are generally a well recognised hall mark of Mugabe’s Zanu PF regime and this comes as no surprise to anyone. Sibusiso Ngwenya​

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