Archive for January 26th, 2008

source: allAfricaThe Herald (Harare)

26 January 2008
Posted to the web 26 January 2008


PRESIDENT Mugabe has set March 29 as the election date, a day after the dissolution of Parliament to pave way for the polls.

In an Extraordinary Government Gazette released yesterday, the President proclaimed March 29, 2008, as the day on which presidential, parliamentary and council elections will be held.

He also issued a proclamation dissolving Parliament at midnight on March 28, 2008 and set Friday, February 8 2008 as the day on which Nomination Courts will sit countrywide to receive nominations of candidates for the elections.

The President also set Friday March 7, 2008 as the date when the Provincial Assemblies of Chiefs shall meet to elect chiefs to the Council of Chiefs.

Chiefs will meet [continue reading]


source: allAfrica
Zimbabwe Independent (Harare)

25 January 2008
Posted to the web 25 January 2008

Dumisani Muleya

MAJOR commercial banks and other financial houses are facing a critical liquidity crisis largely caused by unlawful speculative investments which are now threatening to ruin the stricken institutions.

Information gleaned from an array of documents shows the situation has triggered tremors within the sector that was hit by a chain of high-profile institutional collapses in 2004. Cash shortages at the banks have compounded the situation as businesses and individuals are unable to access their money.

Almost all the banks — Barclays, Stanbic, Standard Chartered, CFX Bank, Kingdom, NMB Bank, ZB Bank, MBCA, ZABG, FBC, CBZ, Agribank, ABC Corporation, Genesis, Premier, Interfin and Renaissance, as well as building societies such as CABS, Beverley, FBC BS and Intermarket — are in dire straits.

The banks are facing liquidity problems because [continue reading]

source: News24
25/01/2008 10:42 – (SA)

Johannesburg – South Africa’s gold mines, and mining companies in other sectors, were instructed on Thursday night by electricity utility Eskom to shut their mines, possibly for up to between two to six weeks.

A letter signed by Eskom CEO Jacob Maroga said that key industrial consumers (KPI) had to reduce their power loads to “minimum levels”. He added that Eskom could not guarantee power supply.

“We did not send down a shift last night and we did not send one this morning at any of our mines,” said Willie Jacobsz, spokesman for Gold Fields. “I understand the situation is the same at AngloGold Ashanti and Harmony Gold,” he said.

A Johannesburg analyst said, however, that smaller consumers such as Simmer & Jack Mines and DRDGold still had power, at least at present.

In the letter, Maroga said the mines were required to “evacuate all underground staff”; “suspend all surface and underground mining”; but were allowed to keep essential services operating such as pumping and lighting. Mining companies would also be allowed underground if proto-teams were required to tackle fires.

Meanwhile, the South African government is [continue reading]