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CBZ to invest two percent of income in green projects

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BY RAY NDLOVU

CBZ Holdings Ltd., the biggest bank in Zimbabwe, plans to invest two percent of its annual income toward green projects, a first in the southern African nation.

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The bank’s plan to increase the use of green energy will include funding solar projects by households across the country, according to Blessing Mudavanhu, the lender’s chief executive officer.

Zimbabwe relies on electricity mainly from its hydro-powered Kariba Power Station and the coal-fired plants in Hwange.

Although with an installed capacity to produce a combined 2,100 megawatts, owing to frequent breakdowns at Hwange, the country has an acute shortage of electricity which results in prolonged power cuts.

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When possible, the country meets its power shortfall through imports mainly from South Africa.

A combined 1,158 megawatts was being produced Friday, according to data available from the Zimbabwe Power Company website.

CBZ will also invest in carbon credits as it seeks to establish its footprint in the ESG space, Mudavanhu said.

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The bank, which released its annual results on Friday, said it expects its shift toward environmental accountability to “gather pace” this year.

The lender’s net full-year interest income tripled to $16,16 billion from $6.15 billion. – Bloomberg

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National

Zimbabwe road traffic fatalities rise to 20 amid recent accidents

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BY STAFF REPORTER

The Zimbabwe Republic Police (ZRP) has confirmed that the death toll from recent road traffic accidents has tragically escalated to at least 20 individuals in the past few days. This surge in fatalities has raised serious concerns regarding road safety across the nation.

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In a statement released today, the ZRP detailed a fatal accident that occurred early this morning at the 246-kilometer peg along the Mutare-Masvingo Road, near Mutendi Complex. A Dragon bus, carrying 20 passengers and traveling from Beitbridge to Mutare, collided with a haulage truck while attempting to overtake. The bus driver swerved back into his lane upon noticing an oncoming vehicle, resulting in a devastating sideswipe that caused timber from the truck to pierce into the bus. Eight people, including the bus driver, died at the scene, and four others were injured in the crash. The injured were transferred to Masvingo General Hospital for treatment.

The ZRP emphasized the alarming trend of road accidents in their statement, noting

that these incidents were predominantly caused by reckless overtaking. “Most of the accidents recorded recently have been due to overtaking errors on the part of drivers,” police officials stated. “We urge all motorists to exercise extreme caution and adhere strictly to traffic regulations.”

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This latest accident follows another tragic incident on August 28 involving a Toyota Fortuner GD6 at the 46-kilometer peg along the same road. The vehicle veered off the road and hit a concrete signpost, resulting in four immediate fatalities. This number subsequently rose to six as two more victims succumbed to their injuries after being admitted to Victoria Chitepo Provincial Hospital.

Additionally, on August 29, a separate accident on the Harare-Nyamapanda Road claimed the lives of seven family members when a kombi they were traveling in lost control during an overtaking maneuver, resulting in an overturn that killed five instantly and two more in the hospital.

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In the community

Kachechete ward councillor involved in accident, admitted to hospital

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BY NOKUTHABA DLAMINI

Councillor Given Moyo, representing Kachechete ward in Hwange Rural District Council, was involved in a car accident on Tuesday evening in Victoria Falls at Mkhosana Suburb.

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This incident occurred just a day after he granted an interview to VicFallsLive, discussing the rising concerns of human-wildlife conflicts in his constituency.

During the interview, Moyo highlighted the losses faced by villagers due to wildlife, particularly lions, and shared a disturbing image of lions attacking donkeys.

Donkey eaten by a lion in Mvuthu

According to family spokesperson Corcaly Jamela from the Ndlosa Desk, Moyo’s vehicle reportedly fell into a ditch, resulting in injuries to the councillor and his family members. Fortunately, Moyo did not suffer any fractures, but he did sustain scratches that required stitches on his arm and other areas, Jamela said.

Moyo is currently admitted at the Victoria Falls Hospital.

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The family has appealed for donations to help cover Moyo’s medical expenses. Given Moyo +263 7 72462892

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Cabinet approves review of tourism levies, licenses and fees

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BY STAFF REPORTER

The Cabinet has approved a review of levies, licences, fees, and permits of tourism sector , aimed at streamlining the regulatory environment and enhancing competitiveness.

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The announcement was made during Tuesday’s post-Cabinet briefing, attended by Minister of Tourism and Hospitality Industry, Barbara Rwodzi.

The review, conducted through a consultative process, covered various subsectors, including accommodation, hospitality and catering, tour guides and operators, boating services, and vehicle rental services.

Previously, these subsectors were constrained by a complex regulatory environment, which the review aims to simplify by removing unjustifiable licences and permits, streamlining duplicative requirements, and reducing excessively high fees and levies.

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Significantly, the review introduces a range of reductions, with some fees being cut by 25-50% and others scrapped off completely.

The reviewed instruments will undergo further refinement to ensure they fully support a competitive and thriving tourism industry.

This reform is part of the broader ease-of-doing-business agenda, designed to lower operational costs, enhance competitiveness, and drive sustainable growth in Zimbabwe’s economy.

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The tourism sector is one of Zimbabwe’s key drivers of economic growth, and this development is expected to provide a significant boost to the industry.

Source: Zimbabwe Tourism Authority

 

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