Friday 28 February 2025 *MORNING NEWS UPDATES* _• USD: ZiG Official Exchange – Z$25.69_ • _Black Market Rate - Zig 30:USD1_ • _Innscor in-store – Z$35_ • _KFC, Slice, Eat'n'Lick – Z$35_ New members who wish to receive detailed local, regional and international news from Ignite Media Zimbabwe should "follow" our channel on the link below: https://whatsapp.com/channel/0029VaASRLX6mYPM2XphWy2n *For advertising inquiries call, text or Whatsapp us on +263 778 242 692* *THE HEADLINES* *Chiwenga Missing At Mnangagwa Police Event* *Opposition Attacks Blessed Mhlanga’s Detention* *No Change Without ZANU PF Continuity : Prof Jonathan Moyo* *A Nation's Vision: Beyond Individual Ambitions* *Mnangagwa set to pacify war veterans* *Grace Mugabe In Rare Appearance* *Robbers Steal Chinamasa’s New Car* *Cost Of Living Skyrockets* *Implats seeks meeting with Mnangagwa over Zimbabwe forex rules* *You cannot be on national duty every week – ministers under fire for evading Parliament, failing to respond to policy questions* *Zim shells out US$1,6 billion on second hand cars* *Simbisa Defies Economic Challenges with Aggressive Expansion* *Liquidity constraints weigh on ZSE as trading activity remains subdued* *OK Zimbabwe Faces Restructuring Amid Shareholder Shakeup and Credit Monitoring* *Komani: Police nab bus driver en route to Zimbabwe with millions worth of abalone* *Africa’s medical system risks ‘collapse in next few years’, warns health leader* *Safer roads for everyone. . .Tame traffic jungle, says President Mnangagwa* *Ramaphosa moves to ‘mend relations’ with Trump following aid cuts* *IGNITE SPORT* *Chelsea's 2024 squad is most expensive ever - UEFA report* *Jose Mourinho gets 4-game ban for Galatasaray comments* *In-form West Ham pile pressure on struggling Leicester* *Rashford up for permanent Villa move* *Barcelona and Bayern Munich are also keeping tabs on Rashford* *Liverpool have a growing interest in Newcastle and Sweden forward Alexander Isak, while Arsenal also remain keen on a move for the 25-year-old* *Arsenal might have to sell Belgium forward Leandro Trossard, 30, or their 23-year-old Brazil winger Gabriel Martinelli to fund a summer rebuild, with both players targets for Saudi Pro League clubs* *Victor Osimhen is keen on a transfer to Manchester United, although they will need to overcome several major clubs to sign the 26-year-old Nigeria striker, who is on loan at Galatasaray from Napoli* *Manchester United are prepared to offload Denmark forward Rasmus Hojlund, 22, in order to gain Osimhen's signature* *Chelsea remain keen on the possibility of signing Borussia Dortmund and Germany winger Karim Adeyemi, who is valued at 45m euros (£37.1m)* *Manchester City are keen to sign a goalkeeper to replace Brazilian Ederson, 31, this summer and the club are in talks with Porto over a move for 25-year-old Portugal international Diogo Costa* *Bayern Munich have withdrawn their offer of a new contract to Germany midfielder Joshua Kimmich after becoming frustrated with the 30-year-old's hesitation to extend his deal* *The Premier League could be forced to have two separate transfer windows this summer because of disruption caused by the Club World Cup* *THE DETAILS WITH IGNITE MEDIA ZIMBABWE* _*Chiwenga Missing At Mnangagwa Police Event*_ Vice President Constantino Chiwenga was conspicuously absent on Thursday at Morris Depot, where President Emmerson Mnangagwa officiated a pass-out parade for graduating police officers. Chiwenga was the only high-profile official from the Presidium who was not visible at the event, raising fresh speculation about the ongoing power struggles within Zanu PF. This is an Ignite Media Zimbabwe news production. The event was attended by key government officials, including Chiwenga’s co-vice President, Kembo Mohadi, Defence Minister Oppah Muchinguri, State Security Minister Lovemore Matuke, Higher Education Minister Fredrick Shava, and Mashonaland Central Provincial Affairs Christopher Magomo, among others. Security chiefs were also present, alongside Zimbabwe Anti-Corruption Commission (ZACC) chairperson Michael Reza and Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) director-general Dr Gift Machengete. Nine hundred and seven police officers graduated at the ceremony, with 624 males and 283 females completing their training. However, Chiwenga’s absence overshadowed the proceedings as speculation over his relationship with Mnangagwa continued. Chiwenga’s no-show at Thursday’s event is not an isolated occurrence but part of a growing pattern of absences from key state functions presided over by Mnangagwa. These absences have fueled speculation about a widening rift between the two former allies, with analysts suggesting Chiwenga is strategically distancing himself from Mnangagwa’s administration. Chiwenga played a decisive role in the 2017 coup that ousted former President Robert Mugabe. The two had a tense alliance and reportedly agreed to exchange power after Mnangagwa’s two terms. But Mnangagwa is now pushing Chiwenga out, disregarding the coup gentleman’s agreement. Chiwenga and his military allies have grown increasingly frustrated with Mnangagwa’s move to extend his rule beyond 2028. This is an Ignite Media Zimbabwe news production. _*Opposition Attacks Blessed Mhlanga’s Detention*_ The arrest and continued detention of Alpha Media Holdings (AMH) journalist Blessed Mhlanga has sparked widespread condemnation from opposition parties in Zimbabwe, who have described the move as a blatant attack on press freedom and democratic values. Mhlanga, who was arrested on Monday and charged with two counts of contravening Section 164 of the Criminal Law (Codification and Reform) Act, remains in prison after his bail ruling was postponed to Friday, 28 February 2025, at 12 noon. Stand in magistrate, Marewanazvo Gofa said the delay was attributed to Magistrate Farai Gwatima’s absence due to a funeral. Mhlanga’s arrest stems from allegations that he transmitted data messages inciting violence, based on statements allegedly made by Zanu PF central committee member and liberation war veteran Blessed Geza during press conferences on 27 January and 11 February 2025. Opposition parties said these charges have been widely criticised as an attempt to silence critical journalism and suppress freedom of expression. The Patriotic Front (TPF) has strongly condemned Mhlanga’s incarceration, describing it as a brazen attack on press freedom. “TPF is appalled and outraged by the incarceration of journalist Blessed Mhlanga, a brazen attack on press freedom and a stark reminder of the Zimbabwean government’s relentless war on journalism,” said TPF Secretary General Prosper Ncube. This is an Ignite Media Zimbabwe news production. Ncube invoked the words of French philosopher Albert Camus, stating, “The duty of journalism is to publish the truth, and the duty of the government is to protect the truth. In Zimbabwe, however, the government seems hell-bent on suppressing the truth, using every tool at its disposal to silence the messengers.” He further criticised the Zimbabwe Republic Police (ZRP) for its selective application of the law. “The ZRP has once again demonstrated its penchant for targeting journalists, while allowing heist criminals and other perpetrators of serious crimes to roam free. This warped priority and blatant disregard for the rule of law undermine the very foundations of our democracy,” Ncube said. The TPF demanded Mhlanga’s immediate release, an end to the harassment of journalists, and concrete steps by the government to protect press freedom. Ncube also called on the international community to condemn the Zimbabwean government’s actions, quoting Nobel laureate Amartya Sen who said: “A free press is not a luxury, but a necessity, for a functioning democracy.” The Mthwakazi Republic Party (MRP) also condemned Mhlanga’s arrest, describing it as a reflection of the Zanu PF regime’s contempt for democratic values. “MRP vehemently condemns the arrest and harassment of journalist Blessing Mhlanga by ZRP. This blatant attack on press freedom and the rule of law is a stark reminder of the Zanu PF regime’s contempt for democratic values and human rights,” said MRP’s National Spokesperson Mbonisi Gumbo. Gumbo said MRP demands Mhlanga’s immediate release and an end to the harassment of journalists and opposition leaders. “We call on the international community to condemn these actions and hold the ZANU-PF regime accountable for their blatant disregard for human rights and the rule of law,” he said. Mhlanga’s arrest is the latest in a series of incidents targeting journalists and opposition figures in Zimbabwe with critics arguing the government is using the legal system to intimidate and silence dissenting voices. Both the TPF and MRP have called on the international community to take a stand against the Zimbabwean government’s actions. Ncube quoted Martin Luther King Jr., saying, “Injustice anywhere is a threat to justice everywhere,” and urged global stakeholders to condemn the persecution of journalists in Zimbabwe. Gumbo echoed this sentiment. “The MRP will continue to stand in solidarity with journalists, opposition leaders, and all those who fight for democracy, freedom, and justice in Zimbabwe.” _*No Change Without ZANU PF Continuity : Prof Jonathan Moyo*_ REQUIEM FOR CHANGE WITH CONTINUITY: There are some who of late have been falling on each other, peddling and exchanging wishes and even hallucinations that what happened yesterday can happen again today just like it happened yesterday. They should perish the thought; that kind of tomorrow never comes, it is not coming. This is in line with the enduring insights about history from the likes of Heraclitus to Karl Marx to George Santana to Eugene O'Neill, and from the rich pool of wisdom embodied in African proverbs. This is an Ignite Media Zimbabwe news production. The critical takeaway about history from these sources is that — because the essential question about human existence is the same everywhere and is therefore constant and ubiquitous — the past happens over and over again in new ways, shapes or forms, as the present and as the future; hence the abiding biblical tenet in Ecclesiastes 1:9 that “there is no new thing under the sun”. Those who learn nothing and who forget everything from the past are doomed to repeat it, as a tragedy or as a farce. People evolve and adapt as they and the environment around them always change, such that no one can step into the same river twice. While ordinarily change should be for the better; Murphy’s Law dictates otherwise in that in the real world things always tend to go wrong along the way because anything that can go wrong will go wrong, and there’s nothing on earth that cannot go wrong. It is for this reason that the best reform or a meaningful revolution in any and every society is change with continuity. A plan that does not consolidate change with continuity is doomed to end either tragically or farcical. Consequently, the compelling lesson from the foregoing is that there will be no change in Zimbabwe without ZanuPF-continuity. New leaders with new ideas will come from ZanuPF. Anything else is noise from rootless or baseless and self-indulgent voices whose messages are doomed by their lack of continuity; meaning their lack of connection with Zimbabwe's history for the sake of continuity. All told and things being equal; this is why after all has been said and done and whether anyone likes it or not, ZanuPF is here to stay! _*A Nation's Vision: Beyond Individual Ambitions*_ by Mlilo Joyinani and Ndaba Nhuku As Zimbabwe navigates its development trajectory, a crucial question emerges: should a nation's vision be tied to an individual's ambitions, or should it transcend personal interests? President Emmerson Mnangagwa's "ED2030" campaign, implying a potential extension of his term beyond 2028, raises concerns about the country's future. President Mnangagwa has repeatedly stated his commitment to respecting the constitution and stepping down in 2028. However, the "ED2030" campaign and discussions within the ruling ZANU-PF party about extending his term have sparked debate. Critics argue that this would undermine the country's democratic principles and create uncertainty about the nation's future. The concern is not just about President Mnangagwa's personal ambitions, but also about the potential risks of tying a nation's vision to an individual's leadership. What if nature calls it a day and he dies? Would the country's development plans come to a grinding halt? A nation's vision should be resilient enough to withstand changes in leadership and should prioritize the collective interests of its citizens. This is an Ignite Media Zimbabwe news production. Zimbabwe's development plans should be institutionalized, ensuring that progress is not dependent on individual leaders. The ruling party and government should prioritize succession planning, ensuring a smooth transition of power when the time comes. The government should respect the constitution and adhere to its provisions, including term limits, to maintain stability and democratic credibility. While President Mnangagwa's leadership has been instrumental in shaping Zimbabwe's development agenda, it is essential to prioritize the nation's interests over individual ambitions. By institutionalizing development, prioritizing succession planning, and adhering to the constitution, Zimbabwe can ensure a resilient and sustainable development trajectory that benefits all its citizens. The Constitution of a country should not be based on individual leaders as that would mean every new leader reforms it to suit their needs. Once allowed for President Mnangagwa, what will stop Chiwenga, Chamisa, Ncube, Biti or Tshabangu from doing likewise? ZanuPF , as a liberation and post independent nation founding party, should have been patriotic enough to ensure the country has a Constitution iron that is iron clad from individual or political abuse. Zanu PF would one day have left power popular as a democratic party but as it it, it is soiling its own history and legacy. The national aspirations should arise above personal ambitions and power hunger. _*Mnangagwa set to pacify war veterans*_ President Emmerson Mnangagwa is set to hold a crucial meeting with Zimbabwe's war veterans in the coming weeks, amid increasing dissent within their ranks, with some calling for his resignation. The meeting, confirmed by Zanu-PF War Veterans League leader Douglas Mahiya, aims to address grievances among former liberation fighters. The urgency of the gathering comes as a vocal faction, led by ex-combatant Blessed "Bombshell" Geza, openly demands Mnangagwa's departure, accusing him of corruption, nepotism, and plotting to extend his rule beyond the constitutional two-term limit. Mahiya underscored the significance of the dialogue, saying it would allow war veterans to voice their concerns directly to the President. "After the successful launch of the War Veterans Welfare Fund, we saw it fit that comrades meet with their fellow fighter to discuss and spend the day together. The meeting is going to happen two to three weeks from now," Mahiya stated. This engagement comes at a delicate time, as Geza intensifies his campaign against Mnangagwa's "ED2030" agenda, which critics view as a bid to extend his presidency beyond 2028. Geza has instead rallied support for Vice President Constantino Chiwenga to take over. Geza's vocal opposition has also drawn the attention of the state, with legal actions being taken against him. He recently called for a national shutdown and issued a 10-day ultimatum for Mnangagwa to resign, although he later distanced himself from a social media post making the threat. This is an Ignite Media Zimbabwe news production. The calls for Mnangagwa's resignation are not limited to Geza alone. The War Veterans Pressure Group (WVPG) has also criticized the President, accusing his administration of betraying the liberation struggle by compensating white former farmers displaced during the land reform programme. "To that end, our perception of the situation in the country resonates with that expressed by comrades, specifically, Cde Geza and war-time commanders who are demanding change," the group said in a statement. The growing unrest within Zanu-PF's traditional support base signals potential fractures in the ruling party. Analysts warn that discontent among war veterans played a crucial role in the 2017 coup that led to former President Robert Mugabe's ouster. Meanwhile, Mnangagwa's administration is rolling out the War Veterans Welfare Fund across all 10 provinces, led by Special Investments Presidential adviser Paul Tungwarara. Each province is receiving US$150,000 in zero-percent revolving loans for war veterans to start projects, along with housing initiatives and solar-powered boreholes. Tungwarara dismissed suggestions that the fund was a response to criticism from war veterans, insisting it was long planned. "These heroes battled tirelessly for our freedom. It is our responsibility to ensure their legacies endure," he said. Tungwarara also took aim at social media campaigns calling for Mnangagwa's removal, warning, "You cannot challenge the President without confronting the entire presidium and Cabinet. We remain focused on positive efforts for Zimbabwe's future." Political analyst Pardon Taodzera believes the planned dialogue is a strategic move to prevent further divisions within Zanu-PF. "By creating a platform for war veterans to voice their concerns, Mnangagwa acknowledges their significance while trying to maintain party unity," he said. Taodzera noted that the timing of the meeting, coupled with the welfare initiatives, reflects a dual approach: offering economic support while attempting political reconciliation. "This isn't just about loans or a borehole — it's about securing their allegiance," he explained. As Zimbabwe navigates political uncertainty, Mnangagwa's ability to manage the growing discontent within the war veterans' ranks may prove pivotal in shaping the country's political future. _*Grace Mugabe In Rare Appearance*_ Former, First Lady Grace Mugabe made a rare public appearance on Thursday in Harare, where she signed the book of condolences for the late former Namibian President, Sam Nujoma. She joined mourners in honouring the life and legacy of Nujoma, Namibia’s founding father and a key figure in Africa’s liberation history. Nujoma, who passed away in Namibia early this month, was a towering figure in African politics and a close ally of Zimbabwe’s late President Robert Mugabe. The two leaders shared a deep bond forged through their nations’ protracted struggles against colonial rule. Nujoma led Namibia’s fight for independence from South African apartheid rule, just as Mugabe led Zimbabwe’s war against British colonial domination. This is an Ignite Media Zimbabwe news production. Their friendship extended beyond liberation struggles as they worked together to shape regional politics, including forming the Southern African Development Community (SADC). Both were champions of pan-Africanism, land reform, and economic independence, often standing in defiance of Western influence. Their legacies continue to shape political discourse in both countries and the broader SADC region. However, President Emmerson Mnangagwa has been grappling with the challenge of managing Mugabe’s enduring legacy in Zimbabwe. Despite efforts to rebrand the ruling ZANU-PF government and distance it from some of Mugabe’s policies, the former president’s influence remains deeply embedded in Zimbabwean political culture. Mnangagwa’s rise to power through a military-assisted takeover in 2017 alienated many within Mugabe’s inner circle, including his widow, Grace Mugabe. Her reappearance at the Nujoma memorial event is symbolic, underscoring the lasting impact of her late husband’s legacy. Meanwhile, Mnangagwa has sought to position himself as a reformist, courting Western investment and attempting to mend diplomatic ties. However, he continues to struggle with economic decline, governance crises, and public discontent, which have led many to compare his administration unfavourably to Mugabe’s era. _*Robbers Steal Chinamasa’s New Car*_ In a daring heist, armed robbers raided the farm of ZANU PF Secretary for Legal Affairs, Patrick Chinamasa, making off with a brand-new Mazda BT-50 double cab vehicle, a pistol, and other valuables. The robbery occurred under the cover of darkness when four men overpowered the security guard stationed at the main entrance of the farm before targeting the farm manager. The suspects tied up both men, force-marched them into the main farmhouse, and covered them with blankets while they ransacked the property. _*Cost Of Living Skyrockets*_ Details to follow… _*Implats seeks meeting with Mnangagwa over Zimbabwe forex rules*_ IMPALA Platinum (Implats) is seeking a meeting with Zimbabwean president Emmerson Mnangagwa to discuss foreign exchange retention rules that make it increasingly difficult for the miner to invest in the southern African country. The Reserve Bank of Zimbabwe recently increased the amount of dollar receipts it retains, which potentially increases the cost of goods and services that have to be procured in the local currency. This is an Ignite Media Zimbabwe news production. “We are concerned about the need for increased access to forex by the Zimbabwean government. It is something that needs to be discussed between our company and the government,” said Nico Muller, CEO of Implats. “It is something that is on the agenda for us to have a discussion with the finance minister [Mthuli Ncube] as well as the principle [Mnangagwe]. It is not something I want to scrub under the carpet.” Implats’ 85% owned Zimplats borrowed money in order to pay for capital goods because the cash it was receiving from the dollar receipts fell short, said Meroonisha Kerber, Implats CFO in a presentation of the firm’s interim results on Thursday. “From an efficiency point of view it makes sense to borrow there [in Zimbabwe] as well as from a discipline perspective because, as we have said, all our operations have to fund all of their own capital,” she said. - Zimplats faces challenges as half-year production dips amid operational disruptions - Implats production falls as challenges mount in PGM market Implats said earlier today that it was assessing its portfolio in the event that poor platinum group metal prices persisted. Muller identified the firm’s Canadian mine Lac des Iles (Impala Canada) and Marula as the most vulnerable assets. Lac des Iles would be run down as the firm had last year targeted its high margin ounces, reducing its reserve life. Regarding Marula, a decision has to be made in two years regarding a second phase expansion which would access up to 24 years of reserves. It first, however, had to become cash flow positive, said Muller. Muller said most of the cost cuts, including job losses, had been done with little now to reduce in overall corporate overheads. “We are now at portfolio decisions,” he said. There were several shafts in the firm’s flagship Rustenburg division that were also “sailing close to the wind”, he told media earlier in the day. Implats has invested heavily in the processing capacity of its Zimplats. Said Muller: “We have always been positive about our investment orientation with regards to Zimbabwe. We do believe the Great Dyke offers the best available resource out there. _*You cannot be on national duty every week – ministers under fire for evading Parliament, failing to respond to policy questions*_ A number of cabinet ministers are under fire for not participating in Parliament business, a concern that has been raised by Speaker Jacob Mudenda. During Wednesday’s Question and Answer (Q &A) session, Mudenda revealed that quite a number of cabinet ministers had given apologies on the pretext of being on national duty, something he said should be investigated. The Q & A session is one of the most important Parliament business schedules where the public gets answers to policy questions asked by their constituency representatives (MPs) from cabinet ministers. In recent years, cabinet ministers and the two VPs have evaded the session, leaving citizens without crucial information needed for development’s sake. Several MPs have raised their concerns since the previous Parliament until now (10th Parliament), with the Speaker at one point having threatened to report culprits to President Emmerson Mnangagwa. “After listening to this, there are quite clear apologies that have been very consistent to you. And my suspicion is that these ministers who make apologies cannot be on national duty every week. This is an Ignite Media Zimbabwe news production. “I am therefore directing the truck and the staff to make a proper analysis of those ministers who have been consistently telling their apologies,” said Mudenda. He added, “And such apologies do not seem to answer that, actually. And where you have deputy ministers, again, consistently accepting themselves as an apology, that cannot be accepted. Second, in terms of the Constitution, Provisional Section 107, Subsection 2, it is very clear that every Vice President, minister, and deputy minister must attend parliament and parliamentary committees in order to answer questions concerning matters for which he or she is collectively or individually responsible. Chiwenga and Mohadi rarely come to Parliament during the Q and A session. He went on, “The challenges government is facing and what government is doing about those challenges. And that erodes public trust in the government of the day. We cannot afford to miss that golden opportunity. “We should not. And above all, it is the taxpayer who shoulders the responsibilities of us being in our offices. And that must be respected.” The Speaker highlighted that some important written questions had not been answered since 2024 to date. Said Mudenda, “And the apology must be taken sooner rather than later. That’s the first observation. The second observation is that when His Excellency addressed the cabinet, the 25th cabinet session, he made a very telling statement in which he was appealing to all the ministers and their deputies to perform in terms of their contribution on this. “I have been analysing questions, written questions, which have not been attended to. And I will go through them. A question to the Minister of Industry and Commerce (Mangaliso Ndlovu). One question has been outstanding since the beginning of the programme. _*Zim shells out US$1,6 billion on second hand cars*_ Zimbabweans have spent US$1,6 billion on importing second-hand vehicles over the past six years, underscoring the urgent need to revive the local automotive industry. Speaking during a meeting with a South African business delegation led by the Association of the African Automobile Manufacturers (AAAM) on Wednesday, Industry and Commerce Minister Mangaliso Ndlovu emphasised that reversing these losses is a priority. “For the last six years, we have spent US$1,6 billion on second-hand vehicles,” he said. “Not to mention the jobs that we have exported. “The majority of those are pre-owned vehicles, most of which last less than three years in the country.” He said revival of the country’s iron and steel industry would pave the way for increased local vehicle production. “With our iron and steel sector taking shape, we believe we can re-localise a significant portion of automotive manufacturing,” he said. Sunday Mail _*Simbisa Defies Economic Challenges with Aggressive Expansion*_ Despite Zimbabwe’s ongoing economic difficulties, Simbisa Brands, the country’s largest fast-food chain, continues to grow its presence across the region, showcasing resilience and adaptability in a tough operating environment. According to a report by NewZWire, Simbisa opened a net total of 38 new counters between December 2023 and December 2024, with 16 of these added in just the last six months. The company shows no signs of slowing down, with plans to launch an additional 10 outlets by June 2025. This expansion underscores Simbisa’s commitment to maintaining its dominance in the fast-food industry, even as consumers grapple with declining disposable incomes. In the six months leading up to December 2023, Simbisa served 24.8 million customers, a 7% increase compared to the same period the previous year. However, the company faced a 3% decline in average spending per customer, a reflection of the economic pressures faced by consumers. In response, Simbisa has strategically lowered some of its prices to remain accessible to its customer base. This is an Ignite Media Zimbabwe news production. Adapting to the 1% Fast Food Tax Simbisa is also contending with the government’s recently introduced 1% fast food tax, a measure that has added another layer of complexity to its operations. The company has stated that it is actively developing strategies to mitigate the tax’s impact on menu prices while safeguarding its profit margins. _*Liquidity constraints weigh on ZSE as trading activity remains subdued*_ Monday’s trading session is expected to reflect continued liquidity constraints on the Zimbabwe Stock Exchange (ZSE), with activity anticipated to remain subdued. The ZSE All Share Index gained 0,49 percent at the end of last week but remains down 12,31 percent year-to-date. The Top 10 and Top 15 indices also registered marginal gains, rising 0,72 percent and 0,57 percent, respectively. However, the Medium Cap index declined by 0,16 percent. Market turnover stood at US$1,79 million, with foreign buys amounting to US$0,944 million, while no foreign sales were recorded. Platinum Securities noted that the coming week is likely to see continued low trading activity due to liquidity challenges, though blue-chip counters such as Delta and Econet may provide some stability. “On the Victoria Falls Stock Exchange (VFEX), sentiment remains weak as low foreign investor participation and competing demand for USD-denominated assets continue to weigh on the market,” they added. Despite these challenges, individual counters such as African Sun and Padenga saw gains of 0,72 percent and 6,05 percent, respectively, while Simbisa advanced by 2,45 percent. _*OK Zimbabwe Faces Restructuring Amid Shareholder Shakeup and Credit Monitoring*_ OK Zimbabwe, the country’s largest retail chain, has embarked on a major restructuring process following significant management changes and a fresh influx of investors. The retailer is implementing a recovery strategy to address financial difficulties that have led to store closures and stock shortages. According to NewZWire, the company announced the return of former executives Willard Zireva and Albert Siyavora to lead a “comprehensive review and restructuring” while a search for new leadership is underway. This move follows the departure of CEO Max Karombo, CFO Phil Mushosho, and Supply Chain Director Knox Mupaya. Shareholder Shakeup Raises Concerns Ahead of the management overhaul, an unusual trading activity on February 5 saw approximately 23 million OK Zimbabwe shares change hands, raising concerns of a takeover. Stanbic Nominees offloaded 12,448,714 shares, while AMZIM Pension Fund-Old Mutual Investment Group sold 1,151,945 shares. The primary buyers were Akribos Wealth Managers Nominees, which acquired 12,285,281 shares, and Akribos Nominees, which took up 4,053,000 shares. Datvest Nominees purchased 3,199,625 shares. This is an Ignite Media Zimbabwe news production. Akribos Wealth Managers, which had a 1.7% stake in 2023, has been steadily increasing its holdings and is now the tenth-largest shareholder with a 2% stake. Mega Market, one of the biggest investors on the Zimbabwe Stock Exchange (ZSE), also increased its OK Zimbabwe portfolio by acquiring 844,300 shares, adding to its existing 55,470,376 shares. Understanding OK Zimbabwe’s Financial Crisis The retailer’s financial turmoil has been attributed to stock procurement challenges, currency shifts, and supplier reluctance to accept payments in Zimbabwe Gold (ZiG). OK Zimbabwe had procured stock in US dollars from April to June 2024, securing contracts with suppliers to ensure competitive pricing and extended payment terms. However, the introduction of ZiG in April significantly reduced USD collections, dropping from 75% to below 30%, leaving the company unable to meet supplier obligations. Further complications arose when the ZiG devalued in September 2024. The exchange rate adjustment from 13 to 26 meant that OK Zimbabwe needed twice the amount of ZiG to settle supplier debts, worsening its liquidity crisis. The Recovery Plan In response, OK Zimbabwe has entered a Credit Monitoring Arrangement (CMA), allowing banks to assess its financial position and recovery prospects. The process will be led by Grant Thornton, which will engage with suppliers on behalf of the company’s creditors. OK Zimbabwe’s largest creditors include: - Innscor: US$1.1 million - Mega Market: US$966,201 - National Foods: US$861,337 - Seed Co: US$782,494 - Delta Corporation: US$742,880 - Blue Ribbon: US$602,606 Overall, the company owes US$9.88 million and ZiG 177.09 million to its top creditors, accounting for 69% of its total obligations. Store Closures and Strategic Expansion As part of its restructuring, OK Zimbabwe is shutting down underperforming branches in Glen Norah, Kuwadzana Extension, Julius Nyerere Way (R. Manyika), and Chitungwiza Town Centre. These will be replaced with new outlets in Pomona, Makoni, and Liberation City. The company is also focused on decentralising working capital, cutting operational costs, and securing new funding for both operations and capital expenditure. As OK Zimbabwe navigates its financial recovery, shareholders and industry observers will be watching closely to see if the company can stabilise and reclaim its position as Zimbabwe’s leading retailer. _*Komani: Police nab bus driver en route to Zimbabwe with millions worth of abalone*_ Komani police arrested a 48-year-old bus driver in the Komani CBD on Sunday, February 23, while en route to Zimbabwe. The driver was found in possession of 26 boxes of abalone valued at R2 million. Reporting on the incident, police spokesperson Captain Yolisa Mgolodela stated that the Queenstown dog unit (K9) received information about a bus from East London heading to Zimbabwe with tower batteries. According to her, following this tip-off, the bus was intercepted in the Komani CBD and searched. This is an Ignite Media Zimbabwe news production. “Upon searching, five solar batteries worth R25,000, six solar panels valued at R12,000, four tower batteries worth R160,000, inverters worth R200,000, and 10 boxes of medication were also recovered,” she added. The 48-year-old driver of the bus was arrested on charges of possession of abalone, suspected stolen property, contravention of the Medicines Act 101 of 1965, contravention of the Marine Living Resources Act 18 of 1998, and damage to essential infrastructure. The suspect is expected to appear before the Komani Magistrate’s Court today, February 25. _*Africa’s medical system risks ‘collapse in next few years’, warns health leader*_ Health services in Africa are at risk of “collapse in the next few years” due to soaring chronic diseases, a senior public health leader has warned. Foreign aid to Africa has been focused on infectious diseases, leaving conditions such as cancer and diabetes to escalate, said Dr Githinji Gitahi, group CEO of Amref Health Africa. In sub-Saharan Africa, non-communicable diseases (NCDs), including hypertension, diabetes and heart disease accounted for 37% of deaths in 2019, up from 24% in 2000. They are forecast to become the leading cause of death in the region by 2030 – driven by factors such as unhealthy western-style diets, less active lifestyles and air pollution. This is an Ignite Media Zimbabwe news production. “Aid is not charity” and will inevitably follow donor countries’ own interests such as stopping infectious diseases that could spread overseas, said Gitahi, who called for Africa’s leaders to step up their own work on controlling NCDs. Gitahi spoke to the Guardian at the Global NCD Alliance Forum in Kigali, Rwanda, earlier this month, a gathering of more than 700 delegates from 89 countries. _*Safer roads for everyone. . .Tame traffic jungle, says President Mnangagwa*_ Details to follow… _Ramaphosa moves to ‘mend relations’ with Trump following aid cuts*_ South African President Cyril Ramaphosa has indicated his willingness to meet with U.S. President Donald Trump in an effort to mend strained relations between the two nations. Speaking at a conference organized by U.S. bank Goldman Sachs in Johannesburg, Ramaphosa expressed his desire to “do a deal” with Trump to resolve tensions over South Africa’s land reform policies. This development follows Trump’s decision to cut aid to South Africa, citing concerns over the country’s land expropriation policies and its stance on international legal matters. The fallout between the two leaders has further complicated diplomatic and economic ties, with Ramaphosa now seeking to rebuild relations through direct engagement. *IGNITE SPORT* _*Chelsea's 2024 squad is most expensive ever - UEFA report*_ Chelsea's squad at the end of the 2024 financial year was the most expensive ever in terms of transfer fees per the annual European Club Finance and Investment Landscape report, commissioned by UEFA. The publication analyses all of Europe's top leagues through submissions and detailed reviews. Its findings paint a vivid picture of the scale at which Premier League clubs are shelling out fees and accruing revenue. The study found that English clubs' transfer spending increased by 17% to a record €2.1 billion ($2.2bn) in 2023. Of the 20 most expensive squads in the world, nine are from from the Premier League. This list is topped by Chelsea, who since being taken over by Todd Boehly and Clearlake Capital in the summer of 2022 have signed 41 players across six transfer windows. The report found that their squad at the end of the club's 2024 financial year was officially the most expensive ever assembled, with a combined transfer cost of €1.656bn. It comfortably surpassed the value of the Manchester United's squad of 2023, which cost €1.422bn. Audited figures from the club's financial statements showed that across a five-year period from July 2019 to June 2024, their spending far exceeded that of any other European club. They spent / invested just under €2bn in transfer fees during this period, two-thirds more than the next highest club Manchester City [€1.175bn] and Arsenal [€1.145bn] and considerably more than Barcelona [€733m] or Liverpool [€657m]. the report found. Chelsea's exorbitant spending under Boehly-Clearlake has yet to translate to on-field success, with the club failing to qualify for the Champions League or win a trophy under their leadership. Ahead of their clash against Southampton at Stamford Bridge on Tuesday, a group of Chelsea fans held a protests against the way the club is being run. This is an Ignite Media Zimbabwe news production. _*Jose Mourinho gets 4-game ban for Galatasaray comments*_ Fenerbahce manager Jose Mourinho was handed a four-match ban and fined by the Turkish Football Federation (TFF) on Thursday following his comments about Turkish referees after a match at Istanbul rivals Galatasaray. The TFF fined the 62-year-old Portuguese 1,617,000 Turkish lira ($44,000) after he criticised the match officials in a news conference following the 0-0 Super Lig draw on Monday. This is an Ignite Media Zimbabwe news production. The penalties were due to "derogatory and offensive statements towards the Turkish referee" and accusations of chaos and disorder in Turkish football, the TFF said. The TFF said Mourinho's remarks violated sports ethics, promoted violence and disorder and could incite fan incidents. Monday's game was refereed by Slovenian Slavko Vincic after both clubs requested a foreign official take charge. _*In-form West Ham pile pressure on struggling Leicester*_ West Ham beat Premier League strugglers Leicester City 2-0 at the London Stadium on Thursday thanks to a early strike from Tomas Soucek on his 30th birthday and an own goal just before half-time. The visitors' defensive frailties were exploited by the home side as both goals resulted from failed clearances, Soucek prodding in from close range in the 21st minute and a shot from captain Jarrod Bowen being deflected in by Jannik Vestergaard. It was a second victory in a row for West Ham under manager Graham Potter after a surprise 1-0 win at Arsenal, an upturn in form after losing three and drawing one of their previous four games. _*Rashford up for permanent Villa move*_ Manchester United and England forward Marcus Rashford, 27, is prepared to turn his January loan move to Aston Villa into a permanent deal Ignite Media Zimbabwe sports tit bits: *Barcelona and Bayern Munich are also keeping tabs on Rashford* *Liverpool have a growing interest in Newcastle and Sweden forward Alexander Isak, while Arsenal also remain keen on a move for the 25-year-old* *Arsenal might have to sell Belgium forward Leandro Trossard, 30, or their 23-year-old Brazil winger Gabriel Martinelli to fund a summer rebuild, with both players targets for Saudi Pro League clubs* *Victor Osimhen is keen on a transfer to Manchester United, although they will need to overcome several major clubs to sign the 26-year-old Nigeria striker, who is on loan at Galatasaray from Napoli* *Manchester United are prepared to offload Denmark forward Rasmus Hojlund, 22, in order to gain Osimhen's signature* *Chelsea remain keen on the possibility of signing Borussia Dortmund and Germany winger Karim Adeyemi, who is valued at 45m euros (£37.1m)* *Manchester City are keen to sign a goalkeeper to replace Brazilian Ederson, 31, this summer and the club are in talks with Porto over a move for 25-year-old Portugal international Diogo Costa* *Bayern Munich have withdrawn their offer of a new contract to Germany midfielder Joshua Kimmich after becoming frustrated with the 30-year-old's hesitation to extend his deal* *The Premier League could be forced to have two separate transfer windows this summer because of disruption caused by the Club World Cup* This is an Ignite Media Zimbabwe news production.