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11 - 17 February 2021

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Nampak narrows loss– PAGE 6

Govt tightens security – PAGE 13

The summer for a bargain? Some of Europe’s best players are available for free - PAGE 18

ED’s multi million donation stolen TINASHE MAKICHI

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resident Emmerson Mnangagwa’s water pumping machinery donation to Harare City Council’s Warren Park Water Control Pumping Station worth ZWL$20.7m has been stolen, Business Times has established.

The donation, which entailed an assortment of seven rotors for pumps at Harare’s Warren Water Control, weighing approximately 70 tonnes, was made last year to alleviate worsening water shortages in the capital.

The city is facing water shortages with some suburbs going for days and weeks without water supplies. Others have gone for years without water forcing residents to use unsafe water sources thereby exposing them to waterborne diseases such as

Pensions scandal rocks CSC

TINASHE MAKICHI

Former managers and exboard members of the Cold Storage Company (CSC) spirited away millions of dollars from the company’s pension fund - magnifying the rot in State owned enterprises and parastatals.

A report on fraud allegations has since been made to the Zimbabwe Republic Police Commercial Crimes Division in the Southern Region.

Leonard Moyo, a representative of the company’s

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employees who were contributing to the pension fund, also wrote a letter to the Office of the President and Cabinet appealing for help.

“We have been prejudiced of our pension (contributions) by the CSC former managers as they looted our pension contributions. We are now leaving on a meagre (pay outs) from the National Social Security Authority, which at least keeps us clothed and yet we have been robbed of the contributions we made through our company,” Moyo said in the

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cholera and dysentery.

Harare City Council spokesperson Michael Chideme confirmed the theft saying a report has since been made at Warren Park police station under case number RRB Number 4612957.

“A report has since been received and investigation is now in progress. A report was made at ZRP Warren Park on January 11, 2021 and no arrests have been made yet,” Chideme said.

A well-placed source told Business Times this week that there was massive stripping of water pumping machines by council officials.

Given the weight of the rotors, investigators would want to ascertain what could have been used to move all of them from the Warren Park water station. It 

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letter to the President’s Office dated January 20, 2021 and seen by Business Times this week.

“In previous years it was not being processed and we filed a report with Zimbabwe Republic Police of fraud but to date nothing has taken place, no arrests or report back as to their findings. I believe this was due to the then managers and board members being linked to various influential people in government.” 

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Briefs Allowances for President, VPs spouses The spouses of the President and VPs will now be entitled to allowances following amendment to legislation as the government moves to pamper some of the country’s VVIPs, Business Times can report. A recent Finance Act shows that the Presidential Salary and Allowances Act (Chapter 2:06) has been amended to cater for allowances for the spouses of the President and VPs. Section 2A (1) of the Act states that: “The spouse of a President shall be entitled to such allowances at such rate as may be prescribed from time to time in terms of section 3”. - Page 3

Meikles embarks on properties facelift

Zimbabwe Stock Exchange-listed Meikles Limited is refurbishing its properties across the country as part of plans to attract high net worth tenants, an executive has said, as the group seeks to maximise on its assets. The properties earmarked for a facelift used to house the group’s now defunct departmental stores operations including Greatermans, Barbours and Meikles Mega Market. Meikles Limited executive chairman, John Moxon, confirmed the latest development to Business Times this week, saying the group was eyeing high net worth tenants.

“Meikles Limited will finally have a portfolio of renovated investment properties with excellent tenants. Each property is well located,” Moxon said. - Page 5

High tea demand drives Ariston revenue Listed agro-industrial concern, Ariston Holdings, has reported a two-fold increase in revenue in the first quarter (Q1) to December 31, 2020, largely on the back of uptick in demand for its tea in export and local markets.

Company secretary, Rufaro Chinamo, said tea volumes increased to 941 tonnes during the reviewed period from 821 tonnes in prior comparative period due to more favourable weather patterns. This resulted in the company’s top line increasing 98% in the period under review. The group also closed the fourth quarter of 2020 with substantial tea stocks.

She said good rainfall has helped the company’s production figures to go up in almost all fruit and crop categories. - Page 6

SeedCo exits ZSE next month Seed producer SeedCo Limited (SCL) will next month delist from the Zimbabwe Stock Exchange following the acquisition of close to 80% stake of its issued shares so far by SeedCo International Limited (SCIL).

SCL shareholders, have since surrendered 78.08% of the issued share capital, to SCIL through a share-swap primary offer of one SCIL share for every 0.98 shares held in SC. SCIL, which has operations across the continent, is the only counter listed on the recently launched Victoria Fall Stock Exchange (VFEX), which is a US dollar-denominated bourse, and also trade pockets of its shares on the Botswana Stock Exchange. SCIL is now targeting to acquire the remaining SCL shares through a secondary offer which closes on March 3, 2021. - Page 6

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Gold deliveries plunge 61% G LIVINGSTONE MARUFU

Gold deliveries plunged by more than half to 0.99 tonnes in January from 2.54 tonnes recorded in the same month last year

old deliveries plunged by more than half to 0.99 tonnes in January from 2.54 tonnes recorded in the same month last year weighed down by heavy rains which slowed mining activity, Fidelity Printers and Refiners (FPR) has said.

The plunge in deliveries will be a headache for monetary authorities that look up to the yellow metal to generate foreign currency for the economy.

Fidelity Printers and Refiners general manager, Fradreck Kunaka, told Business Times there was a need to dewater mines to ramp up production.

“The artisanal and small-scale producers were significantly affected by the rains from mid December 2020 to date. The impact of rains has been brought to the fore by the numerous mine collapse accidents hence production fell significantly,” Kunaka said.

Kunaka said large scale producers delivered 0.64 tonnes while small scale miners delivered 0.35 tonnes to FPR last month.

Delays in payments by FPR have exacerbated the situation resulting in miners, especially the small scale miners taking their yellow metal to alternative markets, where payment is done on the spot and in foreign currency.

While FPR pay prices well below the gold market, prices of the yellow metal in the alternative market is lucrative.

Experts, who spoke to Business Times this week, said the government should come up with favourable mining policies which will encourage miners to formally sell their precious mineral to Fidelity. “……Friendly policies should be crafted and implemented to achieve high figures but surprisingly, the authorities give lower retention levels and pay way below the world market prices. One wonders if the authorities are really serious about ramping up production and turning

around the economy,” Gold Miners Association of Zimbabwe CEO, Irvine Chinyenze, told Business Times.

Analysts say the drop in performance of gold production was a worrying development given that Zimbabwe largely depends on earnings from the yellow metal since the country is no longer getting credit lines from international financiers due to its failure to service its debts.

They said there was a need for the government to plug leakages to ensure the country sells its bullion through the formal channels.

The decline in gold figures comes at a time when Zimbabwe’s other leading foreign currency earner, tobacco, is also subdued, leaving the country on the edge.

It is understood that Zimbabwe’s “all weather lending institution”, Afreximbank, is slowly tightening screws on the southern African country.

Analysts have now projected a tough year for Zimbabwe.

Econet unveils Pensions scandal AI-powered rocks CSC Chatbot ‘Yamurai’ 

STAFF WRITER

Econet Wireless Zimbabwe has launched a customer service enhancing Chatbot named Yamurai, as part of a digitisation drive to empower and improve customer experience.

Econet said the Artificial Intelligence (AI)-driven Chatbot will give customers an additional digital customer support channel as the company steps up efforts to optimise efficiencies and manage the surge in caller-based customer queries amid the Covid-19-induced lockdown that has resulted in restricted movements.

Chief Customer Experience Officer Otis Makahamadze said Yamurai was another channel among Econet’s “growing suite of convenient, customer support digital solutions”.

“We believe Yamurai will offer our customers much needed convenience at a time physical movement to access in-store support in our shops is resticted due to the national lockdown,” Makahamadze said.

He noted that Yamurai would have the intelligence to handle and address several customer queries, as well as to escalate certain issues to the relevant customer support representatives within the company’s support departments, including escalating queries to a live agent.

Yamurai will be able to help resolve customer queries so that customers can get ready assistance on routine issues such as phone PIN resets, airtime credit or top up issues, and queries relating to data bundle purchases.

“Our customers may be pleased to know that Yamurai is also smart

enough to escalate queries for resolution to the relevant back office departments in Econet, and log trouble tickets to help follow up active queries until they are fully resolved,” said Makahamadze, who also heads Econet’s OmniContact, the company’s Business Process Outsourcing division.

Econet has experienced an increase in online and phone-in customer inquiries over the past year, as hundreds of businesses and thousands of individuals were forced to work from home due to the impact of Covid-19 pandemic.

This has seen the company accelerating its digital transformation drive, which has seen it launch a number of customer-empowering, digital selfcare platforms and widening its customer service channels during the pandemic.

Moyo added: “We have tried to seek the Ministry of Agriculture to intervene with little success as some of the Ministry officials were board members in the company and protecting former management.”

He further noted that some CSC employees got severance packages from the new investor but some pensioners are still wondering what happened to their contributions.

There is talk that at least US$4m was remitted to the current fund manager Marsh Insurance Brokers.

“There is also a huge amount of Old Mutual shares that were sold and monies not properly accounted for by the pension fund trustees,” Moyo said.

Another letter from ZRP addressed to Marsh Insurance Brokers confirmed the investigation currently being carried out.

“The station is investigating a case of fraud where CSC allegedly



ED’s multi million donation stolen

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From Page 1

is now suspected that it was an inside job, which might implicate the local authority’s top officials.

“Rotors are heavy and not something that one can just put in his pocket and leave the premises. This operation required cranes for loading and that means this was done in the full view of a lot of people,” one source who requested anonymity told Business Times.

“The potential buyers of these rotors are commercial farmers and mines.

converted CSC pension funds instead of handing them over to the administration of the fund,” reads part of the letter.

The government has since appointed BDO Zimbabwe managing partner, Ngoni Kudenga as the corporate rescue manager at CSC. The ministry said people should be patient and wait for a report from BDO. “On allegations of pension fraud, that is also one of the reasons why the business corporate rescue practitioner was appointed. We will wait for recommendations from BDO,” the ministry said last night.

Despite Kudenga’s appointment, sources said former employees have maintained a tight grip on the company’s assets.

A recent investigation by Business Times unearthed that there are close to 50 companies leasing the CSC Harare deport facilities and only three companies are remitting rentals

This type of operation means there was a ready buyer.”

The worsening water situation in Harare has resulted in the town clerk and some directors in the water department being implicated in corruption charges.

President Mnangagwa’s crack team, the Special Anti-Corruption Unit (SACU), is currently investigating a case in which the City Council could have been prejudiced of more thanUS$6m.

In this case, top officials at the Harare City Council, including suspended

to Boustead Beef and CSC while the majority are remitting rentals to ex-CSC employees who have maintained grip on the company for close to a decade.

Part of Harare depot facilities have since been subdivided to small warehouses and SMEs shops.

There have been allegations of potential conflict of interest since Agriculture minister Anxious Masuka was CEO when Kudenga was the president of the Zimbabwe Agriculture Society. The ministry said Masuka became minister when plans were already in motion to appoint Kudenga.

“Minister Masuka only joined in September last year but there was already traction on the issue of corporate rescue and BDO was already proposed before the coming in of Minister Masuka. It is critical to note that people must be patient with this CSC revival and that is the reason why the business was put on corporate rescue,” the ministry said.

Town Clerk, Hoseah Chisango, were implicated.

It is alleged that the City Council officials were importing water chemicals worth US$6m per month from South Africa and China, yet there were cheaper local chemicals from Chemplex Corporation.

It is understood that there is also another potential scandal involving the procurement of water pumping machines, which has triggered an investigation by SACU and other law enforcement agents.

Demand for office space dwindles LIVINGSTONE MARUFU

Demand for office space in Harare’s central business district and leafy suburbs has gone down due to subdued operations, making it difficult for companies to run smoothly, a new report has shown.

The report said many firms are now converting homes into offices as they fight to survive the devastating impact of Covid-19 pandemic.

“As more people adapt to working remotely this will also see reconfigurations within homes to allow for workspaces. While this enhances values for properties due to conversion into business space and

the downside of it is that it leads to the demand in office space,” reads part of the new report by properties firm, Integrated Properties.

The report also said once this phenomenon has become entrenched in people’s lifestyles, there may be no going back to the old operations.

There will be a push for multipurpose buildings, the report said.

“In the short run, particularly in the city centres, office rentals and occupancy will continue to decline and a push for multipurpose buildings and relaxed town planning regulations may be unavoidable as owners of city centre buildings seek to convert their properties to

residential use...,” the report said.

Technological innovations mitigating the traditional direct physical contact will replace human interventions in the sector which will see the reduction of manpower in property services, the report said.

The effect of the Covid-19 will see many people losing their jobs due to minimum people needed in the office at a given time.

According to the survey report, firms are slowly leaving leafy suburbs for other residential areas where there is traffic as they move to push volumes.

The report said companies were struggling to keep up with expensive

rentals and the cost of maintaining the building especially during the Covid-19 pandemic hence a great exodus is expected in the coming months.

“Demand for fancy, expensive locations is going down as people will be able to work from anywhere, not confined to specific upmarket locations, making expensive locations and occupations unnecessary,” the property market report said.

Occupant levels remained low in rental markets with empty spaces being a perennial migraine for property owners in both the residential and commercial space.

The property market report said,

“There was migration of tenants from leafy suburbs to landing suburbs as they adjusted to making the final move to lower ranking suburbs as the pandemic dealt a blow on disposable incomes.”

The situation has seen landlords losing their bargaining power as tenants negotiated rental downwards thereby lowering returns on properties. This has significantly impacted on property values.

Listed entities in the property and construction sector said trade was subdued for the most part of 2020 and the same is expected this year.

In the short run, particularly in the city centres, office rentals and occupancy will continue to decline and a push for multipurpose buildings and relaxed town planning regulations may be unavoidable as owners of city centre buildings seek to convert their properties to residential use

11 - 17 February 2021

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SACU swoops on Harare land barons TINASHE MAKICHI

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SACU has launched investigations into the alleged theft of State land at Bellapasie Farm by alleged land barons.

SACU head Thabani Mpofu

Allowances for President, VPs spouses

The late President Robert Mugabe and Grace Mugabe STAFF WRITER The spouses of the President and VPs will now be entitled to allowances following amendment to legislation as the government moves to pamper some of the country’s VVIPs, Business Times can report.

A recent Finance Act shows that the Presidential Salary and Allowances Act (Chapter 2:06) has been amended to cater for allowances for the spouses of the President and VPs. Section 2A (1) of the Act states that: “The spouse of a President shall be entitled to such allowances at such rate as may be prescribed from time to time in terms of section 3”.

Section 2A(2) states that:

“The spouse of a Vice President shall be entitled to such allowances at such rate as may be prescribed from time to time in terms of section 3”.

The allowances come barely six months after the government gazetted benefits for former first ladies.

President Mnangagwa promulgated Statutory Instrument 261 which stipulates the benefits to be enjoyed by former first ladies.

The country currently has two former first ladies, Janet Banana, wife of the late ceremonial president Canaan Banana (1980-87) and Grace Mugabe, former President Robert Mugabe’s widow.

The benefits, to be paid

includes, security personnel as may be determined by the President but not less than two, and to be increased by such number as may be determined by the President whenever, and for such period, as the need arises, one driver, one Private Secretary, one aide-de-camp officer or personal assistant, office accommodation as may be determined by the President, a landline telephone and a cell phone and a computer.

Other benefits being enjoyed by former first ladies include, office facilities, equipment and materials as may be determined by the President, suitable state residential accommodation and one domestic employee among other material benefits.

he Special A n t i Corruption Unit in the Office of the President (SACU) is investigating the illegal sale of State land at Bellapasie Farm in Harare amid revelations that land barons illegally subdivided the farm and pocketed the proceeds, it emerged this week.

The farm measures about 140 3805 hectares and is located around the Hatfield area.

SACU investigations were triggered by findings in the recent report by Justice Tendai Uchena on sale of State Land in Zimbabwe’s urban areas.

SACU head Thabani Mpofu confirmed the investigations without giving further details.

According to documents seen by Business Times this week, there are allegations that there was no memorandum of agreement between the Ministry of Local Government and the housing cooperatives currently occupying Bellapasie Farm.

SACU has launched investigations into the alleged theft of State land at Bellapasie Farm by alleged land barons.

“There is no agreement between the Ministry of Local Government and Green Valley Housing Cooperative. The Ministry of Local Government

allocated the farm of Green Valley before prior proper handover had been done,” reads part of the documents.

A notice of intention to acquire Bellapasie farm was gazetted on December 30, 2011 under GN Number.

4594/11.

Acquisition was confirmed by the Administrative Court on April 12, 2012 under case number LA6071/12 and the farm was confirmed as State land.

Prior to acquisition the farm was owned by Bellapasie Estates Limited held under Deed of Transfer Number 4039/92.

The farm was handed over to the Ministry of Local Government for urban development on May 4, 2012 but the farm was not valued and no intrinsic value was paid.

Following the handover of the farm, a layout plan was eventually approved for Green Valley Housing Cooperative on December 16, 2010 creating 297 stands.

The then Ministry of National Housing and Social Amenities allocated the whole farm to Green Valley Housing Cooperative by way of an offer letter dated January 13, 2010.

Green Valley Housing Corporative allocated stands to its members while Tembwe Development Committee and Bellapasie Housing Trust fronted by Danny Masukuma

also sold stands to home seekers.

There are allegations that Nelson Mandizvidza of Twin Life Investments sold stands to desperate home seekers while Bernard Mutanga, an individual, also sold stands to home seekers.

The farm is currently occupied by 256 co-operatives of Green Valley Housing and people who bought stands from Mandizvidza, Mutanga and Bellapasie Trust.

According to the documents, Green Valley claims to have surrendered 30 stands to the Ministry of Local Government through a letter dated February 22, 2011 but the ministry is disputing having received the stands.

The government is on a drive to flush out land barons that are selling State or council land or wetlands.

The heavy rains have been flooding settlements on wetlands and in low lying areas, destroying homes and property necessitating the need for the government to relocate the affected households.

On Tuesday, Cabinet announced that the government will streamline the operations of cooperatives, including through de-registering all co-operatives which were captured by land barons as one of the measures to redress the illegal settlements.

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11 - 17 February 2021

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Editorial

BT Editorial comment

Dilbert cartoon

No room for Mandiwanzira hits out complacency at ‘cartel’ allegations

The numbers for new Covid-19 cases and deaths are coming down mainly due to lockdown measures instituted last month to curtail the respiratory disease.

The measures include a 6pm to 6am curfew, ban on churches, bars and nightclubs and the suspension of operation of the informal sector and the non-essential businesses.

The measures have paid off as the national recovery rate has risen to 84.2% on Tuesday from under 60% in January, the bloodiest month since the first case of Covid-19 was detected in March last year.

The government announced on Tuesday that it would receive the 200,000 doses donated by China by February 15 and the first batch of procured vaccines in the first week of March. The initial consignment will cater for frontline workers, the elderly and other vulnerable groups in Zimbabwe, it said.

There are discussions to also buy the Russian vaccine Sputnik and India has also offered to donate some doses of its own vaccine and an option for Zimbabwe to purchase commercially, according to a post Cabinet statement issued on Tuesday.

Zimbabwe has also submitted an expression of interest to participate under the African Union vaccines programme. The government said the private sector would render support and will retain half of what they would have procured for its employees.

These developments are coming as the extended lockdown comes to an end February 15 (Monday). There is temptation on the part of the government to relax the lockdown measures basing on the increase in recovery rate and drop in new cases. However, the number of fatalities is still on the high side.

Whereas, the number of deaths was averaging above 20 last month, it has now come down, but one life lost, is one too many.

Zimbabwe has travelled that road before when it threw away the reins thinking Covid-19 had been defeated. The limit on gatherings had no enforcer and Zimbabwe paid the price as the gatherings became super spreaders with the Ministry of Health and Childcare last month declaring that Zimbabwe was a Covid-19 hotspot as local transmissions took centre stage.

For the government, there is pressure from several constituencies. Nonessential businesses will knock on the government’s doors so that they are allowed to resume operations. There will be pressure from the informal sector, which has become Zimbabwe’s largest employer since the collapse of the manufacturing sector over a decade ago. Experts say 95% of the economy has been informalised. The absence of proper safety nets will force the government to buckle under pressure from these constituencies.

The education sector lost three months last year. In 2021, it has already lost a month, and counting. There are fears the sector has been weakened, more so in the wake of the government’s failure to roll out e-learning in schools.

Students in private schools are doing classes online, leaving government, mission and rural schools waiting for the reopening of schools.

Indications point to the fact that Zimbabwe is not yet ready to throw away the reins in the absence of the vaccines.

The government has to make a tough choice. Should it reopen the economy in the wake of declining new cases? Should it maintain the current lockdown until Zimbabwe has vaccinated 60% of the population to attain herd immunity?

As experience has shown us, the second wave has been virulent and any bungling will result in serious consequences too ghastly to contemplate.

TODAY IN FINANCIAL HISTORY 1808—Anthracite coal first burnt as fuel, experimentally in Wilkes-Barre, Pennsylvania 1854—For the first time, coal gas is used to light major streets in San Francisco 1974—Libya nationalises three US oil companies that had not agreed to 51 percent nationalisation in September 1987—British Airways begins trading stocks 2002—The Argentine peso was put to float for the first time in a decade and dropped about 5% to 2.1 pesos to the dollar 2003—Federal Reserve Chairman Alan Greenspan said that Pres. Bush’s tax cut would increase the federal budget deficits and voiced opposition.

2004—Cable TV giant Comcast Corp. launched a hostile bid to buy

The Walt Disney Co. for more than $54 billion. Comcast later dropped its bid.

2006—Dubai Ports World, a state-owned business in the United Arab Emirates, won approval from a secretive US panel for a $6.8 billion deal to take over operations at six American ports.

2008—In London the price of platinum struck an historic high nearing $1,900 on supply disruptions caused by power shortages in South Africa, the white metal’s biggest producer.

2010—Italy’s Fiat SpA and Russian automobile company Sollers announced a euro 2.4 billion ($3.3 billion) joint venture to produce up to 500,000 vehicles per year in Russia in a bid to become the country’s second-largest car maker

EVENTS DIARY 24 February CAFCA Limited 75th AGM, 12pm, virtual

BT

BUSINESS TIMES

25 February Ariston Holdings 74th AGM, Ariston boardroom, 1500hrs

F

ormer Cabinet Minister Supa Mandiwanzira has been left crying foul over what he called “staggering incompetence” by a South African publication, the Daily Maverick, whose exclusive report on the massive scale of State Capture and corruption in Zimbabwe is gaining international attention The report focuses on business cartels because these are the vehicles used for state capture.

Mandiwanzira, the Zanu-PF MP for Nyanga South, is media-shy and rarely reacts to negative articles about him, despite being the owner of one of Zimbabwe’s largest diversified media businesses.

But he launched a surprise attack on the Maverick on Tuesday evening, after his name featured in the report which throughout the day was widely circulated and tweeted by leading opposition political figures in Zimbabwe as well as senior figures in U.S. and U.K. corridors of power.

Maverick editor Mark Heywood, earlier on wrote that the report ‘provides a post mortem of the cancer that killed the Zimbabwean dream of freedom and independence’.

What did Mandiwanzira say?

The report named Mandiwanzira as the owner of Univern Enterprises, which has won multiple tenders with ZINARA, ZIMRA, CVR, ZRP and several Government departments since its formation in 1996. “@dailymaverick, it’s pathetic that your report suggests I own a company called Univern that benefited from tenders at ZINARA. I don’t own this company and never did. Its ownership is on public record. A simple Google search can reveal. Staggering incompetence! #Defendthetruth,” tweeted Mandiwanzira, who owns media business group, AB Communications.

AB Communications owns and operates national radio Zi-FM Stereo; regional radio stations Hevoi FM in Masvingo and 98.4FM in Gweru. Mighty Movies, TruckAds and Business Times are also under AB Communications.

However, in its report, the Maverick said they gave accused persons a chance to respond.

“Last week, we sent the report to Mnangagwa, Zimbabwe’s ambassador to South Africa, Isaac Moyo, and all those implicated in the report. We asked for their comments but they did not respond.

Mandiwanzira continued hitting and standing his ground.

“Let’s stick to the facts. @ dailymaverick pathetically lie that I own the company, Univern, which they accuse of corruption at ZINARA . I don’t own that company and never did. The owners are Laurence Sher, Sergi Levy and Musekiwa Kumbula.

“If you allege I’m a thief, at the very least present some facts not fabrications. It’s fake that I own Univern. It’s pathetic & desperate to say I own it.”

Mandiwanzira urged media to leave him alone and publish content

civil society activists. For the same security reasons, the authorship of the report would remain anonymous.

“The 64-page report details the scale of the theft – among others, illicit cross-border financial transactions cost Zimbabwe up to a staggering $3bn a year and billions in gold and diamonds smuggled out of the country.”

It is suspected that Zimbabwean political activists and a prominent journalist (name supplied) as well as a human rights lawyer helped author the report. AN internationally acclaimed Zimbabwean author is also said to have been roped into authoring the document.

Supa Mandiwanzira

they would have verified.

“Mbavha chaidzo ngadzibatwe.

Kana mati kambani yevarungu yakaita huori… batai ipapo kwete kunyara kunongedzera varungu moti ikambani yaSupa izvo zvinyorwa zviripo zvinorakidza kuti kambani ndeya Serge Levy, Laurence Sher naMusekiwa Kumbula,” he fumed.

“They fall for the same lies as perpetrated by @dailymaverick . I can’t be responsible for those who are not clever enough to verify! “@dailymaverick Please withdraw the offending report as it relates to me as there is no truth in your allegations. Your facts are simply fabricated. If you have any credibility, withdraw and apologise.

Univern is a white-owned company in Zimbabwe,” he added.

Who is Univern?

Univern Enterprises is a Zimbabwean-registered firm, which trades as Southern Region Trading Company (SRTC) and supplies IT systems, as well as various goods and services in Zimbabwe.

The company’s directors are listed as Laurence Neil and Sherice Sher, who had been directors since inception in 1996, as well as Musekiwa Kumbula (since 2005).

Company chief executive is Serge Levy, and was appointed director in 2014.

Public records show that Univern was contracted by the Central Vehicle Registry (CVR) for the manufacture and supply of new format number plates introduced in March 2005.

Univern also won a 2012 tender to supply 40 motorised graders worth $8 million to the Zimbabwe National Roads Authority (Zinara).

The following year, Univern/ SRTC won a deal with ZINARA to supply vehicle licencing software. The deal was won without going through tender since it was a PPP (Public Private Partnership) agreement. The partnership is set to last for 10 years

according to the deal.

Furthermore, Univern is a partner of ZINARA in the administration of 17 toll gates across the country.

Univern manages the system at the toll gates.

In 2017, Univern supplied the Zimbabwe Republic Police with an electronic traffic management system. The agreement was once again on a PPP basis.

Maverick report goes viral On Tuesday, the report was raised by Republican US Senator Jim Risch, the ranking member of the US Senate Foreign Relations Committee, who retweeted a Daily Maverick tweet about the Zimbabwe report, adding; “State capture and corruption in #Zimbabwe continue to be a concern of mine. A timely report released by @dailymaverick exposes the destructive effects that elite cartels play in robbing the country’s future. Our partners, the Zimbabwean people, deserve better. #DemLoot.”

Peter Hain, British Labour peer also retweeted the report, saying: “Zimbabwe: Explosive cartel report uncovers the anatomy…@ dailymaverick.”

Former DA leader Mmusi Maimane tweeted: “This exposé by the @dailymaverick is very important for every African to read.”

In Zimbabwe, opposition MDC Alliance senator and former education minister David Coltart tweeted: “If you are puzzled why such a wealthy country, with such intelligent, well educated people can be so poor, then read this report published today in @dailymaverick.

It explains how and why a network of cartels is plundering #Zimbabwe.”

Who wrote the Maverick report?

Maverick said the report was being published in South Africa as it was “not safe to do so in Zimbabwe because of attacks on the media and

Other highlights of the report The report focuses on business cartels because these are the vehicles used for State Capture. Heywood added that one of the experts he had asked to review the report pointed out that normally cartels work to undermine the state.

“In Zimbabwe, however, they are in league with the highest people in the land. #DemLoot, in the nowfamous words of journalist Hopewell Chin’ono.”

The report, the first of two, includes case studies of the operation of cartels in roads, fuel, agriculture, cigarettes and mining. It reveals that; ·Illicit cross-border financial transactions cost Zimbabwe between $570m and $3bn a year; ·Intra-country fraud associated with cartels could cost up to $1bn every year; ·According to a 2020 report by the International Crisis Group, up to $1.5bn worth of gold per year is illegally smuggled out of the country; ·Billions of dollars in diamonds go unaccounted for; and ·In 2018 Zimbabwe’s AuditorGeneral noted that 82% of government expenditure had financial irregularity in one form or another.

The report “uncovers the ways cartels made Zimbabwean politicians and business people enormously rich, although most of their wealth is hidden and banked outside the country, as revealed in the 2016 Panama Papers,” Heywood said.

By contrast, the cartels had left ordinary Zimbabweans among the poorest people in the world: · 67% of its citizens live in poverty and two million live in extreme poverty; · Up to 35% of rural people are food insecure (in a country once described as the breadbasket of southern Africa); · One in three children are malnourished; and · Millions of Zimbabweans, perhaps up to a fifth of the population, have left the country as economic migrants.

The report argues that the 2017 military assisted transition that removed Robert Mugabe hardly changed the system, except for changing a few individual beneficiaries. – Zimbabwe Voice and Agencies

- Business Times is published by: AB Communications, 6 Williams Way, Msasa, Harare Tel: 0242- 446990-6 www.businesstimes.co.zw Editor-in-Chief: Kelvin Jakachira - kelvin@abcommunications.co.zw Acting Editor: Ndamu Sandu - ndamu@businesstimes.co.zw News Editor: Phillimon Mhlanga Investigations Editor: Tinashe Makichi, Agriculture and Mining Editor: Livingstone Marufu, Writers: Chengetai Zvauya Copy Editor: Godwell Gwavava Graphic Designer: Memory Gurupira Sales and Marketing Manager: Kundai Buhera - kundai@businesstimes.co.zw Sales Executives: Vusi - vusi@businesstimes.co.zw, Forbes - forbes@businesstimes.co.zw, sales@zifmstereo.co.zw Production: Stephen Musoro Subscriptions/ Circulation Officer: Graham Gandari - gandari@businesstimes.co.zw General Manager: Albert Mushonga - amushonga@businesstimes.co.zw Feedback: letters@businesstimes.co.zw

5

Companies&Markets

11 - 17 February 2021

BUSINESS TIMES

High tea demand drives Ariston revenue - PAGE 6

Meikles embarks on properties facelift Eyes high net worth tenants

will have largely banks and retail outlets, while Bulawayo properties will be redeveloped during this year to house Pick n Pay. But, the rest of the ground floor and part of the first floor will be developed for retail fast food and bank space with a shopping mall concept, Moxon said.

Moxon said the Harare’s Robert Mugabe and Orr Street property will be fully developed this year and Pick n Pay will take up all of what used to be the department store.

This will be a substantial development. The existing TM in Orr Street will be divided

John Moxon

B WE

In most Southern African cultures, paying “lobola” is still very common. Lobola means bride price or dowry. While some of the younger generation see lobola as expensive or unnecessary, the other side of the coin is that it is a sign of giving thanks to the bride’s parents for raising the woman that you fell in love with.

The tradition is that it is paid in live cows from the groom’s family and the effect is that it has become a major instrument of wealth-transfer in most societies. Such money flows are strongly influenced by culture and tradition and create distinct methods of protecting, sharing, and multiplying wealth. While modernity is bringing in some changes— such as lobola being paid in cash—the fundamental beliefs and relationship dynamics that underpin them are likely to prevail.

In Zimbabwe, lobola is generally a payment of 10 cows, for instance. Given the triple digit inflation trend in the country, lobola transactions are oftentimes settled in hard currency (greens). So, on average, the total amount would come to around USD4,000 (a cow costs cUSD400).

However, thesde amounts can be negotiated according to the husband’s wealth. Also, the bulk can still be paid in instalments over time. In some extreme circumstances though, if a man dies before settling his debts, a woman’s relatives may collect it from his family at his funeral.

The idea of lobola payment in USD cash and live cows also

N K OF Z I

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Batanai Matsika

demonstrates the importance Morgan & Co Research of value-preservation across makes use of the BCG growthhouseholds in different share matrix in evaluating societies. Accumulating a nice the strategic positioning of herd of cow is also considered companies. A case in point a good investment. Suppose is Delta Corporation that a family builds up a herd of has managed to develop and 100 cows. They will be able to maintain a strong portfolio withdraw passive income from of brands (mostly cash cows the herd and make gains from and stars). A strategy that sales – a concept similar to has been very relevant is stock market investing. “premiumisation” which entails Cash and cows also remind developing local premium us on an important tool that brands such as Zambezi and can be applied to evaluate Castle Lite in Zimbabwe as well the strategic positioning of as introducing international a company’s product. The premium brands such as Boston Consulting Group Grolsch, Peroni, Heineken and (BCG) growth-share matrix is Guinness. a planning tool that helps the Overall, local premium company allocate resources brands have increased their and is used in brand marketing, share in developing markets product management, strategic while international premium management and portfolio brands are also growing just About Cows, Cash and analysis. as strongly, albeit fromDogs a lower The BCG growth-share base.African The mainstream segment In most Southern cultures, paying “lobola” is still very common. Lobola means bride price orhas dowry. somesupported of the younger matrix breaks down products alsoWhile been bygeneration see lobola as expensive or unnecessary, the other side of the coin is that it is a sign of giving thanks to the bride’s into four categories: dogs, cash brands like Castle and Carling parents for raising the woman that you fell in love with. The tradition is that it is paid in live cows, stars and question marks.

Black Label.

More recently, cows from the groom's family and the effect is that it has become a major instrument of wealth-transfer in most societies. Such money flows are strongly influenced by culture and Dogs hold low markettradition share andDelta has indicated that it has create distinct methods of protecting, sharing, and multiplying wealth. While compared to competitors and isbeen benefiting the RBZ as lobola being paid in cash—the modernity bringing in somefrom changes—such fundamentalForex beliefsauction and relationship dynamics that underpin them are likely to operate in a slowly growing system through prevail. market. In general, they are forex allocations. We maintain In Zimbabwe, lobola is generally a payment of 10 cows, for instance. Given the triple not worth investing in because that Delta provides a solid digit inflation trend in the country, lobola transactions are oftentimes settled in hard they generate low or negative route to direct the exposure to would come to around USD4,000 (a currency (greens).

So,gain on average, total amount cow costs However, these amounts cash returns. Stars operate in cUSD400).

Zimbabwe’s consumer growthcan be negotiated according to the Also, the bulk can still be paid in instalments over time. In some extreme high growth industrieshusband’s and wealth. potential.

BUY Delta! circumstances though, if a man dies before settling his debts, a woman’s relatives may maintain high market collect share. it from his family at his funeral.

Stars are expected to become Batanai Matsika is the Head The idea of lobola payment in USD cash and live cows also demonstrates the cash cows and generate positive at Morgan &across Co, and importance ofofResearch value-preservation households in different societies.

AccumulatingFounder a nice herdof of cow is also considered a good investment. Suppose a family cash flows. piggybankadvisor. builds up a herd of 100 cows. They will be able to withdraw passive income from the herd Cash cows are the andmost com.from Hesales can –bea reached on +263 make gains concept similar to stock market investing. Cash and cows also remind us an important can be applied to evaluate the strategic positioning profitable brands and should 78on358 4745 ortool that batanai@ of a company’s product. The Boston Consulting Group (BCG) growth-share matrix is a be “milked” to provide as tool morganzim.com / batanai@ planning that helps the company allocate resources and is used in brand management, strategic management and portfolio analysis. much cash as possible.marketing, Cash product piggybankadvisor.com cows are usually large corporations or business units that are capable of innovating new products. On the other hand, question marks are products that require much closer consideration.

They hold low market share in fast growing markets consuming large amount of cash and incurring losses.

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About Cows, Cash and Dogs SHORT VIEW

into several retail and service outlets.

The Gweru property, Moxon said is already fully developed with a Pick n Pay and other retail outlets ready to occupy the property.

Meanwhile, Meikles Limited said it has also completed building internal power generation capacity and work on 1.8MW solar farm at Tanganda’s Ratelshoek, the group’s biggest estate.

The group’s export-oriented projects at Tanganda are now being implemented, but will require additional borrowings, which is not considered desirable.

E

Z

imbabwe Stock Exchange-listed Meikles Limited is refurbishing its properties across the country as part of plans to attract high net worth tenants, an executive has said, as the group seeks to maximise on its assets.

The properties earmarked for a facelift used to house the group’s now defunct departmental stores operations including Greatermans, Barbours and Meikles Mega Market.

Meikles Limited executive chairman, John Moxon, confirmed the latest development to Business Times this week, saying the group was eyeing high net worth tenants.

“Meikles Limited will finally have a portfolio of renovated investment properties with excellent tenants.

Each property is well located,” Moxon said.

In Mutare, the properties have been redeveloped in part and when complete in the second quarter, it will be fully let to leading retail and fastfood outlets, he said.

The Masvingo properties

S E RV

TINASHE MAKICHI

RE

·

Bindura Nickel Corporation warns of weak Q4 - PAGE 6

This therefore means the sale of Meikles hotel will avoid the necessity to borrow for these projects and proceeds from the sale are expected to be introduced into group segments.

In its financial results for the year ended September30, 2020, Meikles’ inflation adjusted top line stood at ZWL$11.2bn, which was a 8% decline from the same period in prior year due to the devastating impact of the Covid-19 pandemic.

The group’s operating profit during the reviewed period declined to ZWL$660.4m from ZWL$1.1bn reported in the same period in 2019.

Inflation adjusted group profit after tax also declined to ZWL$189m from ZWL$2.1bn reported in prior period owing to the adverse impact of the monetary loss of ZWL$1.1bn arising from the US$ denominated bank and receivable balances.

“The group’s statement of financial position remains strong despite Covid-19 disruptions during the period under review,” Meikles Limited said.

6

11 - 17 February 2021

Business Times

BT

Companies & Markets

BNC warns of weak Q4

After the completion of the re-deepening project, the miner expects to ramp up more than 60 000 tonnes of ore per month LIVINGSTONE MARUFU

L

isted miner, Bindura Nickel Corporation (BNC), has struck a cautious tone saying production and profitability will likely decline in the current quarter (Q4) due to planned production stoppage at Trojan Mine to facilitate shaft “redeepening” at the mine.

The resurgence of the deadly Covid-19 pandemic is also likely to significantly impact the miner’s production, the miner said, despite reporting a strong performance in the three months to December 2020.

“The company is not anticipating an improved operational and financial performance for the quarter ending 31 March 2021 due to a planned short production stoppage that is intended to facilitate the Trojan Shaft Re-deepening tie-in Project,”

BNC company secretary, Conrad Mukanganga said.

“Other bearish factors include reductions in Chinese stimulus funding and government subsidies in 2021, the resurgence of Covid-19 cases which could usher in the return of the economically damaging lockdowns, leading to lower investor confidence.”

However, after the completion of the re-deepening project, the miner expects to ramp up more than 60 000 tonnes of ore per month, particularly in respect of the mining of disseminated ore.

Mukanganga said the company’s operational and financial performance is expected to improve after the completion of the redeepening project.

Production at BNC increased 9% to 116 525 tonnes in Q3 from 107 036 tonnes during same period in

2019 as the mine recovered from the effects of the slowdown induced by the Covid-19 lockdown in April and May 2020.

Tonnes milled increased 9% when compared to the corresponding period last year.

There was 1% increase in the production of nickel in concentrate to 1,474 tonnes from the output achieved in the same period last year.

BNC sold 1, 864 tonnes of nickel in concentrate in the quarter under review, which was 20% higher than the sales tonnage achieved during a comparative period last year.

This has coincided with the increases of nickel prices on the international market which rose by 4% during the period.

Mukanganga said: “The confidence in the recently elected Joe Biden administration in the USA, the approval and subsequent roll-out of

the Covid—19 vaccine, as well as the sizeable growth in the Chinese stainless steel and electric vehicle sales were contributory factors towards good performance.”

The company faced a formidable threat to health and safety due to the burgeoning number of Covid-19 cases nationally and internationally.

In response to this emergency, BNC has stepped up measures to combat the effects of the pandemic by screening of people by temperature measuring and sanitisation at key entry points to workplaces; preliminary Rapid Diagnostic Test Antigen testing on index cases and contact tracing to understand the virus burden on the mine and community.

Fumigating of the workplace three to four times a week and holding of virtual meetings are now the company’s new normal to avoid contact.

SeedCo exits ZSE next month LIVINGSTONE MARUFU

Seed producer SeedCo Limited (SCL) will next month delist from the Zimbabwe Stock Exchange following the acquisition of close to 80% stake of its issued shares so far by SeedCo International Limited (SCIL).

SCL shareholders, have since surrendered 78.08% of the issued share capital, to SCIL through a share-swap primary offer of one SCIL share for every 0.98 shares held in SC. SCIL, which has operations across the continent, is the only counter listed on the recently launched Victoria Fall Stock Exchange (VFEX), which is a US dollardenominated bourse, and also trade pockets of its shares on the Botswana Stock Exchange.

SCIL is now targeting to acquire the remaining SCL shares through a secondary offer which closes on March 3, 2021.

This means, SCL no longer meet

the minimum ZSE’s free float rule for a listed company because SCIL’s shareholding in SCL is now more than 70% Section 87 (d) of the ZSE listing requirements stipulates that at least 30% shares of a listed company must be held by the public.

“In line with the intentions specified in the circular to SCL shareholders published on January 13 2021 and in accordance with the ZSE listings requirements, SCIL will proceed to cause SCL to apply for voluntary delisting from the ZSE upon the close of the secondary offer on March 3 2021 and procurement of regulatory approvals,” said part of the joint SCIL and SCL circular, published last week.

Seed Co said once delisted any remaining SCL shareholders will not be able to trade their shares freely in the absence of a public market platform and an easily determinable reference price, the statement said.

In a circular to SCL shareholders, the company said the transaction was premised on SCIL’s strategic

response to the changes in the status of its Secondary Listing in Zimbabwe brought about by policy initiatives introduced by the government.

“It is now thought that transferring only one of the entities, SCIL, to the VFEX trading in US$ while leaving SCL on the ZSE trading in Z$ will not protect value for shareholders.

Against this background, SCIL deemed it strategically fit to integrate SCL’s operations under SCIL with a view to strengthening the profile of SCIL following its Secondary Listing’s migration from the ZSE to the VFEX,” it said.

“This integration of the Zimbabwean operations will make SCIL’s profile on the VFEX comparable to its dual listed counterparts whose make up comprise both international and Zimbabwean operations.”

SCIL was established in 2000 in Botswana. It was a wholly owned

by SCL until 2018 when it was partially unbundled from SCL through a dividend-in-specie and

was separately listed on the ZSE. But, the two companies’ operations were under the same management.

SCIL’s shares, however, were suspended from the ZSE in June last year together with other dually listed counters Old Mutual and PPC following a government directive. Government accused the three counters and mobile money operators of being used to sabotage the economy.

While SCIL listed on the VFEX, PPC and Old Mutual remain suspended from trading on the ZSE. Government hoped Old Mutual and PPC would list on the VFEX. But, they haven’t made the move, leaving SCIL, as the only counter listed on the VFEX. SeedCo reported revenue of ZWL$975m (inflation adjusted) for the half year ended September 30 2020, up 55% compared to the same period last year.

Nampak narrows loss TINASHE MAKICHI

Zimbabwe’s largest packaging manufacturer, Nampak Zimbabwe Limited, has narrowed its loss to ZWL$658.6m in the year to September 30, 2020 from ZWL$6.3bn reported in the prior comparative period on increased local demand despite a plunge in volumes.

Revenue for the group increased by a marginal 1% to ZWL$5.08bn from ZWL$5.06bn in the prior year.

Hunyani Corrugated division registered a 28% decline compared to the prior year, weighed down by the tobacco case market where the crop output was significantly down on the prior year and the delayed start of this year’s tobacco marketing season due to Covid-19 concerns.

Carnaud Metalbox volumes for the period under review declined 34% compared to the prior year.

There was also a decline in regional exports but the cartons, Labels and Sacks division remained profitable despite stiff competition and reduced volumes.

Mega Pak full year volumes declined 12% against the prior year, mainly due to constrained consumer demand in the preforms market in the first half of the year.

However, local demand increased in the final quarter of the year and regional export demand was also depressed, especially in the Democratic Republic of Congo.

“Nampak has not been immune to the social and economic impact

of the Covid-19 pandemic and the resulting effects on the Zimbabwe economy over the past year,” the group managing director, John Van Gend said.

The shortage of foreign exchange and reduced disposable incomes in the first half of the year negatively impacted demand.

Van Gend said there was however improved product demand in the final quarter, and access to needed foreign exchange improved through the auction system.

Softex Tissue products for the period continued to trade profitably because of tight cost control and an improved product mix.

Total assets for the group closed the year at ZWL$3.5bn from ZWL$6.5bn in prior year.

Nampak says its engaging government over a possibility of getting back control of its estates in terms of the Bilateral Investment Protection and Promotion Agreement with South Africa.

“Our intention is to rehabilitate them for timber and agricultural purposes, in support of the current Government policy thrust in this direction,” Van Gend said.

The group did not declare a dividend during the year as the available cash resources are expected to fund future capital expenditure projects and meet working capital requirements.

In the outlook, Van Gend said the group will continue to focus on cost containment amid subdued demand on packaging materials.

High tea demand drives Ariston revenue LIVINGSTONE MARUFU

Listed agro-industrial concern, Ariston Holdings, has reported a two-fold increase in revenue in the first quarter (Q1) to December 31, 2020, largely on the back of uptick in demand for its tea in export and local markets.

Company secretary, Rufaro Chinamo, said tea volumes increased to 941 tonnes during the reviewed period from 821 tonnes in prior comparative period due to more favourable weather patterns.

This resulted in the company’s top line increasing 98% in the period under review. The group also closed the fourth quarter of 2020 with substantial tea stocks.

She said good rainfall has helped the company’s production figures to go up in almost all fruit and crop categories.

“Revenue for the three months ended December 31 2020 increased by 98% in inflation adjusted terms, owing to the sharp increase in sales of tea, fruit and maize.

“In the first quarter of 2021 demand for export tea improved resulting in the group’s stockholdings being depleted.

There was marginal improvement in selling prices with local tea sales also increased compared to prior year,” Chinamo said.

Sales of macadamia, fruit, poultry and maize were in line with the prior period and

the production volumes.

The harvesting of mature macadamia which began in March, though lower is a good indicator, allowing greater production at maturity, Chinamo said.

Ariston also registered a 65 % surge in banana production alongside good yields on other crops on the backdrop of a good rainy season.

The fruit category comprises stone fruit and bananas performed well due to wetter season experienced in 2021 than in prior year, the company said.

Chinamo said the favourable weather patterns allowed for the production of 32 tonnes of commercial maize during the first quarter.

The group’s revenue remains predominantly foreign currency denominated.

Ariston has six strategic business units across Zimbabwe which includes the Blended Tea Factory, Claremont, Clearwater, Kent, Roscommon and Southdowns Estates with all units expected to perform better than last year.

11 - 17 February 2021

7

Business Times

BT

Markets Data

Price Sheet Daily Price Sheet

W ednesday, 10 February 20 21 Company

AFDIS African Sun ART Ariston Axia BNC BAT CAFCA Cassava CBZ Dairibord Dawn Delta Econet Edgars FBC Fidelity First Capital FML FMP GBH Getbucks Hippo Innscor Lafarge Mash Masimba Medtech Meikles Nampak NatFoods NTS NMBZ OK Zim Padenga Proplastics RTG RioZim SeedCo Simbisa Star Africa Truworths TSL Turnall Unifreight Willdale ZB Zeco Zimpapers Zimplow ZHL TOTAL

Sector

Consumer Goods Consumer Services Industrials Consumer Services Consumer Goods Basic Materials Consumer Goods Industrials Technology Banking Consumer Goods Real Estate Consumer Goods Telecommunications Consumer Services Banking Financial Services Banking Financial Services Real Estate Industrials Financial Services Consumer Goods Industrials Industrials Real Estate Industrials Healthcare Industrials Industrials Consumer Goods Industrials Banking Consumer Services Consumer Goods Industrials Consumer Services Basic Materials Consumer Goods Consumer Goods Consumer Goods Consumer Services Consumer Goods Industrials Industrials Industrials Banking Industrials Consumer Services Industrials Financial Services

ETFs

Open (US cents)

18.00

SCIL

FINSEC

Index

ZSE All Share Top 10 Top 15 Small Cap Medium Cap

Previous Price (cents)

Last VWAP (cents) Traded Price

2900.00 160.96 700.00 239.25 1723.89 449.98 87500.00 8000.00 1204.82 9000.00 2266.67 32.00 4803.98 2001.42 183.77 2554.16 220.00 208.73 1800.00 600.00 24.00 31.05 10000.00 5901.44 2255.00 94.52 1750.00 7.00 4359.25 554.00 8650.00 27.45 612.98 1950.00 3336.30 2400.13 182.06 1600.00 3482.83 2213.21 40.00 83.00 4500.00 92.00 154.50 50.00 4000.00 0.02 98.00 840.00 203.47

2900.00 169.00 690.00 225.00 1720.00 452.00 9600.00 1200.00 10000.00 2300.00 38.00 4900.00 2010.00 210.00 2500.00 264.00 210.00 1900.00 24.00 5900.00 100.00 1750.00 7.00 3900.00 560.00 9025.00 600.00 1900.00 3300.00 170.00 1920.00 3005.00 2280.00 48.00 78.00 4500.00 92.00 185.25 50.00 830.00 202.00

2900.00 168.87 690.00 237.95 1720.04 456.03 87500.00 9600.00 1210.87 9012.66 2300.00 34.71 4886.36 2003.52 209.83 2500.00 258.91 208.71 1819.84 600.00 24.00 31.05 10000.00 5897.84 2255.00 105.00 1750.00 7.03 4323.47 557.51 9025.00 27.45 604.73 1926.23 3319.89 2400.13 178.75 1920.00 3005.24 2275.93 40.00 78.06 4495.43 92.00 185.25 49.72 4000.00 0.02 98.00 830.00 203.86

197.49

160.00

193.04

Close (US cents) Change (%)

YTD (%) Mkt Cap (US$m)

18.00

-

Open (cents)

Close (cents)

Change (%)

YTD (%)

Close

Change (%)

Open

YTD %

2665.55

OMZIL

AFDIS: ZH ASUN: ZH ARTD: ZH ARISTON: ZH AXIA: ZH BIND: ZH BAT: ZH CAFCA: ZH CSZL: ZH CBZ: ZH DZL: ZH DAWN: ZH DLTA: ZH ECO: ZH EDGR: ZH FBC: ZH FIDL: ZH FCA: ZH FMHL: ZH FMP: ZH GBH: ZH GBFS: ZH HIPO: ZH INN: ZH LACZ: ZH MASH: ZH MSHL: ZH MMDZ: ZH MEIK: ZH NPKZ: ZH NTFD: ZH NTS: ZH NMB: ZH OKZ: ZH PHL: ZH PROL: ZH RTG: ZH RIOZ: ZH SEED: ZH SIM: ZH SACL: ZH TRUW: ZH TSL: ZH TURN: ZH UNIF: ZH WILD: ZH ZBFH: ZH ZECO: ZH ZIMP: ZH ZIMPLOW: ZH ZHL: ZH

OMTT.zw

Old Mutual ZSE Top 10 ETF

VFEX

Bloomberg Ticker

4,165.74 2,598.95 2,980.29 16,879.43 8,995.72

2910.00

+0.24 +0.18 -0.20 +5.77 +0.23

+9.17

4,155.80 2,594.28 2,986.24 15,958.93 8,975.29

0.00 9.81

+58.43 +57.08 +52.99 +42.13 +61.67

43.40

Mkt Cap ($m)

2,415.64

Total Traded Volume

6,700 16,300 600 28,800 81,300 48,900 300 601,700 7,900 200 4,200 345,200 238,600 29,200 500 58,700 177,500 6,300 500 134,300 3,600 100 62,300 4,900 7,300 11,300 4,400 177,300 17,800 1,200 5,100 171,100 77,800 1,548,000 34,000 122,800 2,500 100 82,300 200 1,217,900 5,339,700

A MEMBER OF FINSEC & THE ZIMBABW E STOCK EXCHANGE

Total Traded Value ($)

Price Change (cents)

Price Change (%) 4.91 -1.43 -0.54 -0.22 1.34 20.00 0.50 0.14 1.47 8.47 1.71 0.10 14.18 -2.12 17.69 -0.01 1.10 -0.06 11.09 0.43 -0.82 0.63 4.34 -1.35 -1.22 -0.49 -1.82 20.00 -13.71 2.83 -5.95 -0.10 19.90 -0.56 -1.19 0.19

20.83 -0.66 44.56 77.57 87.78 20.01 59.09 6.79 86.29 5.46 75.57 -41.24 114.78 112.01 74.86 66.52 35.77 89.74 73.32 85.19 148.40 11.11 59.27 134.90 12.90 56.25 -11.01 96.48 144.25 50.17 51.16 114.03 57.98 178.77 -6.78 28.41 30.66 89.38 48.15 164.61 160.60 -1.08 895.97 55.38 66.67 66.00 -34.97

3,401.87 1,455.27 3,015.14 3,872.39 9,372.40 5,699.72 18,054.33 838.57 31,368.52 61,937.86 8,234.02 852.88 62,763.40 51,902.72 686.13 16,798.75 282.01 4,501.29 12,559.50 7,428.94 128.78 361.15 19,302.06 33,309.61 1,804.00 1,952.03 4,228.94 213.70 10,923.08 4,212.81 6,173.11 69.69 2,444.15 24,016.48 17,980.31 6,046.78 4,460.70 2,342.97 7,378.71 12,794.93 1,886.03 299.80 16,053.29 453.60 197.24 884.02 7,007.63 0.09 564.48 1,978.56 3,125.86 497,620.31

-4.45

-2.25

92.62

154.43

Price

Change

%

Price

Change

%

194,300.00 27,525.00 7.91 4,140.00 -10.00 68,529.00 -1.30 1,398,390.00 -3.85 222,998.00 6.05 28,800.00 1600.00 7,285,810.00 6.05 712,000.00 12.66 4,600.00 33.33 1,458.00 2.71 16,867,720.00 82.38 4,780,410.00 2.10 61,270.00 26.06 12,500.00 -54.16 151,978.00 38.91 370,460.00 -0.02 114,650.00 19.84 120.00 7,920,800.00 -3.60 3,780.00 10.48 1,750.00 4,376.60 0.03 211,850.00 -35.78 40,698.00 3.51 1,019,825.00 375.00 26,608.00 -8.25 3,415,200.00 -23.77 590,940.00 -16.41 2,145.00 -3.31 97,920.00 320.00 5,141,965.00 -477.59 1,770,670.00 62.72 619,221.70 26,542.00 -4.94 5,520,385.00 -4.57 2,300.00 185.25 30.75 40,920.00 -0.28 1,660.00 -10.00 2,482,808.00 0.39 61,250,207.55

262,234

506,211.56 Top 5 Risers

CAFCA RioZim Unifreight Fidelity Edgars

Top 5 Fallers

SeedCo Truworths FBC RTG ART

YTD (%)

9600.00c +1600.00c +20.00 1920.00c +320.00c +20.00 185.25c +30.75c +19.90 258.91c +38.91c +17.69 209.83c +26.06c +14.18 3005.24c 78.06c 2500.00c 178.75c 690.00c

-477.59c -4.94c -54.16c -3.31c -10.00c

-13.71 -5.95 -2.12 -1.82 -1.43

Wednesday 10 February 2021

Market Cap ($m)

YTD %

+6.79 +28.41 +895.97 +35.77 +74.86 YTD %

+30.66 +164.61 +66.52 -6.78 +44.56

European shares track Wall Street’s dip into the red SALES & TRADING: Davide Muchengi: davide@morganzim.com | Lungani Nyamazana: lungani@morganzim.com | Tatenda Jasi: tatenda@morganzim.com RESEARCH: Batanai Matsika: batanai@morganzim.com | Precious Chagw edera: precious@morganzim.com | Tafara Mtutu: tafara@morganzim.com Tel: (+263) 0 86770 0 810 1-2 | Email: research@morganzim.com | Address: 1st Floor, Block D, Smatsatsa Office Park, Borrow dale, Harare

MORGAN & COMPANY issued document sliding for distribution clients.rally It may not50% be reproduced or further w hole orstage.” in part for any purpose.

This document not andher should not be European shares endedhaslower onthisComposite 0.4% aftertoa its streak about since it crashed to distributed return to theinfinancial the company agreed to issuspend construed as an offer to sell or the solicitation of an offer to purchase or subscribe to any investment.

MORGAN & COMPANY has based this document on information obtained from sources Wednesday, as Wall Street’s retreat of gains. Technology stocks led losses multi-year lows in March 2020. The Earnings were in focus with fashion line Fenty less than two yearsit believes to from record highsbut dragged in Europe, posting their MORGAN worst session index now is just below its all- SocieteorGenerale gainsnoonresponsibility after its launch. be reliable w hich itEurope has not independently verified; & COMPANY makes no 5% guarantee, representation w arranty leading and accepts or liability as to the accuracy or down from an early rise on upbeat in two weeks. [.N] time high completeness as hopes buildofforitsa content. faster France’s CAC 40 index with its 2.9% At the bottom of the STOXX earnings reports from firms including Investors will watch U.S. Federal economic recovery. jump after beating profit forecasts for 600 was drugmaker Galapagos after SocGen that fed optimism around a Reserve Chair Jerome Powell’s speech “As is always the way, markets have the fourth quarter. the Belgo-Dutch company and U.S. broader economic rebound. for clues on the pace of an economic switched from greed to fear and then The CAC 40 traded in the red, partner Gilead Sciences discontinued Gains in commodity-linked rebound in the world’s largest from fear to greed,” said analysts at AJ however, as data showed French late-stage trials studies of their lung shares and banks were outweighed by economy. Most European indices Bell. industrial output came in weaker disease drug. losses in most other sectors, taking the had climbed in morning trading as “The combination of vaccines, than expected in December despite Meanwhile, Adyen topped the pan-European STOXX 600 index investors looked to signs of progress fiscal and monetary stimulus has the lifting of a coronavirus lockdown. index after the payment processor 0.2% lower. around the proposed $1.9 trillion persuaded markets to look on the Studded with luxury names, beat expectations with a 27% rise Wall Street’s main stock indexes U.S. stimulus bill. [MKTS/GLOB] bright side and go even beyond that, the index was also weighed on by a in full-year core earnings helped by slipped after hitting record highs at Historic monetary and fiscal as they contemplate whether inflation 1.4% slide in Louis Vuitton owner growth in the Americas.—Reuters the open, with the tech-heavy Nasdaq stimulus has helped the STOXX 600 is about to make an unexpected LVMH, after music star Rihanna and

11 - 17 February 2021

Business Times

8

BT

COMPANIES & MARKETS

Seven bidders for Sharp gains for starafricacorporation Old Mutual ETF PHILLIMON MHLANGA

TINASHE MAKICHI The Zimbabwe Asset Management Corporation (ZAMCO) has short-listed seven bidders vying to acquire its controlling stake in the listed diversified conglomerate, starafricacorporation, Business Times can reveal.

ZAMCO took control of 58% shareholding worth about ZWL$32.7m in troubled firm in 2017 after taking paying off banks that were closing in on the Zimbabwe Stock Exchange-listed entity. ZAMC then converted the debt into equity.

ZAMCO chief executive officer, Cosmas Kanhai, said this week six local and one foreign bidder were vying for the stake. He, however, declined to reveal the identities of the seven bidders.

“Remember we are not there to stay long in companies. We have a finite

life. Once a company has turned around, we then disinvest. This is the case with starafricacorporation,” Kanhai told Business Times this week.

“We have received seven bids from prospective buyers, one international and six local, which we will adjudicate after the lockdown. We are currently closed during this lockdown.”

Kanhai said starafricacorporation has turned the corner and now operates profitably.

“So our objective after the balance sheet restructuring we did for starafricacorporation has been achieved,” he said.

ZAMCO is a special purpose vehicle created by the Reserve Bank of Zimbabwe in 2014 to deal with the problem of growing nonperforming loans (NPLs) in the financial services sector.

The NPLs peaked at 22.14% in September 2014.

Fears were growing that the default rate would result in banks cutting back on lending to productive sectors of the economy.

But, the NPL ratio has been reduced to about 5%.

At the end of November 2020, ZAMCO said it had collected more than ZWL$700m out of the ZWL$1.18bn NPLs it assumed since 2014.

As part of efforts to maximise on collections, ZAMCO has resorted to debtasset swap mechanisms.

ZAMCO implemented the debt-swap system after facing challenges with some borrowers who have been delaying the process when dragged to courts.

The takeover of bad loans is also in line with international trends which saw the creation of asset management companies such as Great

Wall, Orient, Cinda of China, KAMCO of Korea, IBRA of Indonesia, Danarharta of Malaysia, SAREB of Spain and BAMC of Slovenia and AMCON of Nigeria to resolve the NPLs challenge.

Notwithstanding the turbulent environment, ZAMCO managed to implement various strategies that maximised recovery from means other than loan repayments such as debt asset swaps.

Analysts say the recoveries to-date demonstrates that Zamco was not formed to simply acquire and warehouse or write-off NPLs as all amounts acquired remain due and payable.

Zamco has powers to acquire, reschedule, dispose of, hold, manage or otherwise settle NPLs of banking institutions.

Russian Diamond Giant to Donate Vaccines to Angola, Zimbabwe - Company will pay for the vaccines for two nations, says CEO - Diamond miner’s 25 concessions in Zimbabwe set to increase

R

ussian diamond producer Alrosa PJSC will buy and donate the Sputnik V coronavirus vaccines to Angola and Zimbabwe to help those nations’ inoculation programs, Chief Executive Officer Sergey Ivanov said.

“We intend to provide dozens of thousands of vaccines to each of these countries upon their availability for exports,” Ivanov said Wednesday in an emailed response to questions. He didn’t specify the amount of vaccines that will be given to the two African nations.

Alrosa, which has operations in both southern African countries, will supply the vaccines once emergency-use authorization for the Sputnik V vaccine is granted.

“Allowing for time needed to produce the vaccine, we

expect first shipments to start from the second half of March,” Ivanov said.

The Sputnik V vaccine, once scorned by the West, has now been approved for use in at least 20 countries and shown to rival U.S. and European Union-produced shots with an efficacy of 92%. Zimbabwean Information Minister Monica Mutsvangwa on Tuesday told a press briefing that in addition to the donation from Russia, talks for purchasing more doses have begun.

The coronavirus pandemic hasn’t altered Alrosa’s perspective on Zimbabwe’s diamond-mining prospects and the company intends to “accelerate its activities” there, Ivanov said. Alrosa Zimbabwe, which holds 25 prospecting concessions, expects to receive another “15 by late February to early March,” he said. (Bloomberg)

The Old Mutual Zimbabwe Stock Exchange Top 10 Index Exchange Traded Fund (ETF) has been having a strong run in the 34 days to Monday this week, gaining about ZWL$97m in value amid growing interest in the financial instrument, Business Times can report.

The price of the ETF, which had its listing debut on the ZSE on January 4, 2021, also jumped 80% to ZWL$1.80 on Monday this week from ZWL$1.

The ETF offers exposure to ZSE Top 10 counters whose numbers in the last 34 days also hit historical high levels.

The stocks have been bullish, with total market capitalisation breaching the ZWL$500bn mark this week.

Investors get an opportunity to own 10 underlying stocks in one investment in the ETF. This means the financial instrument, which is as liquid as underlying financial assets, is expected to improve liquidity, diversify the current investment offerings at the local bourse and deepen the market.

Investors who wish to invest in the fund were only able to do so through two ways, by buying units in the ETF through

The ETF offers exposure to ZSE Top 10 counters whose numbers in the last 34 days also hit historical high levels.

any registered stockbroker or alternatively investing in kind by delivering a basket of stocks in the exact weights of the fund through an authorised participant.

But, this week, the ETF was also included on the ZSE direct platform, a move likely to increase the accessibility of the financial instrument.

ZSE Direct was launched in September to drive participation of individual investors on the bourse.

“The ZSE advises stakeholders that the Old Mutual ZSE Top 10 ETF is now available through ZSE direct. To invest in the ETF, you are required to have an existing account on ZSE direct or a trading account with your stockbroker,” ZSE chief executive officer, Justin Bgoni said.

Zimbabwe joins South Africa, Nigeria, Kenya and Egypt in trading the ETF. The ETF, whose fund manager is Old Mutual Investment Group, is some form of a derivative because it derives its value from underlying assets.

The difference between ETFs and traditional stocks on the ZSE will be that ETF trades a basket of securities, the Top 10, while shares trade a single company.

Globally, the market for ETFs has grown in the past 10 years.

What makes ETFs attractive is that they are relatively cost efficient as these are relatively passive funds which attract lower fees as compared to traditional managed funds.

ETFs are also said to be transparent given that the underlying assets are fully disclosed to investors in their proportions.

Xtenda extends influence BUSINESS REPORTER A firm linked to three former BancABC executives, Xtenda Financial Holdings Limited (XFHL), has acquired shareholding held by MyBucks S.A in Mozambique and Zambia as it expands its reach in Southern Africa.

Xtenda, a Mauritiusregistered retail financial services company, has Douglas Munatsi, Francis Dzanya and Beki Moyo as directors. The trio were executives at BancABC and exited the group after its acquisition by Atlas Mara.

“The acquisition of 55% of MyBucks Zambia and 100% of MyBucks Mozambique awaits central bank approval,” Xtenda said.

Last year, MyBucks said it had completed, subject to regulatory authorities in Zambia, a sale of 20% of Ecsponent Financial Services Limited trading as MyBucks Zambia to Xtenda Finance

Limited. It said Ecsponent Limited and Barkat Ali (former CEO of Mybucks Zambia) also sold their 25% and 10% shareholding in MyBucks Zambia, respectively.

“These transactions remain subject to regulatory approval and MyBucks, Ecsponent Limited and Barkat Ali and Xtenda have extended the longstop date to obtain necessary regulatory approval to March 31, 2021,” the Luxembourgdomiciled FinTech company said last month.

Xtenda is also in line to get MyBuck’s remaining 45% stake in MyBucks Zambia. The shareholding was subject to a call and put option agreement (which had an expiry December 31, 2020) between MyBucks and Finsbury Investments Limited. Finsbury had on December 22 irrevocably exercised the call option for it to acquire the 45% stake in MyBucks Zambia and set a completion date of January 14,

2021. The deadline was not met forcing MyBucks to enter into a sale and purchase agreement in which it will sell its 45% stake to Xtenda, subject to approval by regulatory authorities in Zambia.

MyBucks’ exit in Mozambique has seen the unit’s MD George Nheweyembwa taking over the reins at former sister company, GetBucks.

Xtenda has operating subsidiaries in Mozambique, Tanzania and Zambia, each with local and satellite branches.

Xtenda also has a management agreement with DBF Capital Partners Limited to manage the day-to-day operations of Xtenda Finance (Pvt) Limited, Zimbabwe.

Its major shareholder is DBF Capital, a Mauritius-based investment holding company focusing on private equity specifically sector-agnostic principal investing. DBF has invested in oil and gas, financial services and real estate.

11 - 17 February 2021

9

BT News BUSINESS TIMES

BCC battles Covid-19 spike CHENGETAI

MURIMWA

IN

BULAWAYO

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Council has decreed that bodies of the deceased will not stay overnight in the family’s home before burial

he Bulawayo City Council (BCC) has decreed that bodies of the deceased will not stay overnight in the family’s home before burial as it battles a resurgence of Covid-19 cases.

The rites are believed to be increasing the spread of the virus.

The ban on such rites was in line government’s directive, Patrick Ncube, an official with BCC’s health services department told a virtual meeting last week.

He said the local authority has made several adjustments on how people in Zimbabwe’s second largest city should conduct funerals to minimise the spread of the highly contagious respiratory disease.

“We have made adjustments to how people should conduct funerals. It is no longer permissible for families to have

the body of their deceased relative to lie in state at home and we have advised funeral parlours that the body should no longer go home whether it is any other death or Covid19-related death.

“This is because funerals have been cited as super spreaders of Covid-19,” Ncube said.

Ncube said there are cultural activities such as body-viewing which are no longer permissible due to the Covid-19 pandemic.

“In addition, backfilling of graves, which was often done by family members, is now done by BCC workers at the graveyards and there is no additional cost to that,” he said.

“Catering at funeral wakes should stop for the time being until the Covid-19 era passes.

This presents potential risks of transmitting the virus.”

Ncube said they will now be monitoring funerals and wakes so that not more than 30

people gather at the same time.

Speaking at the same meeting, Sithengisiwe Siziba, a health promotion officer at BCC, said at least 53 % of the Covid-19 cases in Bulawayo have afflicted women while men accounted for the balance.

Siziba, however, said more deaths were recorded from men because of “poor treatment seeking behaviour”.

“This is because men’s health seeking behaviour is low even when we look at the number of cases that go to health institutions for any other illnesses. Men often seek treatment a bit later,” Siziba said.

Zimbabwe is under an extended lockdown to February 15 to curb Covid-19 new cases and deaths.

The ministry of Health and Child Care last month imposed lockdown measures to stem Covid-19 deaths which have seen the national recovery rate falling to below 60% from 80%. Some of the

measures include restrictions on gathering such as funerals to 30, the banning of churches, bars and beer halls.

Government also banned non-essential businesses and the informal sector, decreeing that businesses should operate between 8am and 3pm. A 6pm to 6am curfew was decreed.

The measures have seen a decline in new cases and deaths while the national recovery rate was 83.2% on Monday.

“

Catering at funeral wakes should stop for the time being until the Covid-19 era passes.

Mutare City Council seeks US$15K for drainage works

Mutare City Council is in the hunt for US$15,000 to complete emergency works and drainage construction SYDNEY SAIZE IN MUTARE

Despite sinking US$10,000 towards emergency works and drainage construction, the Mutare City Council is in the hunt for US$15,000 to complete the repair works, Business Times can report.

MCC spokesperson Spren Mutiwi told Business Times the mitigation measures being carried out include drainage opening, removing silt and opening blocked culverts in three suburbs, the Zimbabwe Teachers Association housing scheme, Dreamhouse and Chikanga.

Mutiwi said the private land developers did a shoddy job in the concerned suburbs.

Council has, however, taken over the responsibility to deal with the challenges that emerged after the recent flash floods. There was no drainage system in those suburbs with some stands located in waterways and wetlands.

“The council has had to hire the relevant equipment to carry out the works at a significant cost. As council we are now over-stretched to attend to these issues which were supposed to be carried out by the private land developer, who after pocketing the money failed to execute the works and some have since disappeared from the scene,” Mutiwi told Business Times.

He said the council was embarking on an engagement process with the beneficiaries to reach an agreement on the financing model of the outstanding work.

“Council is grappling with legacy issues of uncompleted serviced suburbs.

What is most disturbing is that almost all the private land developers with outstanding works, cannot be accounted for with some having disappeared leaving the bulk of basic infrastructure uncompleted,” Mutiwi said.

He added: “It is important for these residents whose suburbs were serviced by private land developers to understand that the responsibility to put sound service infrastructure is purely the prerogative of the land developer.

“The Council would only come in to inspect and approve or disapprove the works and will only take full ownership and responsibility of the suburbs after issuing out the certificate of completion and the subsequent project handover process.”

Mutiwi said it was unfortunate that houses and properties were flooded and most affected people lost valuables, food and clothes.

He said MCC was being blamed for lack of services in the affected suburbs for the work that should have been

done private land developer as part of the land sale agreement conditions.

The ZIMTA area was sold to ZIMTA by MCC and the purchasers engaged KMP as a private developer who was involved in servicing the area from 2002.

The development was done in two phases with phase one done to completion and handed over to Council. The second phase which is the area with storm water challenges was not done to completion.

Roads and drains were not completed.

Although the ZIMTA 2 scheme is occupied, it does not have a Certificate of Compliance, and the council in 2020 passed a resolution to take over the project on a funding model to be agreed upon with beneficiaries in 2021.

The floods then hit the area before an engagement meeting was convened and with the lock down measures it became difficult to bring the affected residents to a round table.

Dreamhouse, a housing scheme in Chikanga 3 had the responsibility of servicing stands around 2008, but technically disbanded before sewers, roads and storm water drains were completed.

The housing scheme has no Certificate of Compliance as well, Mutiwi said.

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11 - 17 February 2021

Business Times

News

Commuter omnibus operators on the brink

CHENGETAI ZVAUYA

Z

imbabwe’s private c o m m u t e r omnibus operators have appealed to the government to end the monopoly currently being enjoyed by the statecontrolled ZUPCO saying the ban imposed on them will force players to completely shut down operations.

Despite ZUPCO enjoying the monopoly, they said it was failing to cope with the huge demand leaving many commuters stranded every day.

The government has created a monopoly for ZUPCO in the public transport sector since the start of the Covid-19 last year, banning all private commuter omnibuses. It issued a directive that those who want to continue operating during the Covid-19 induced lockdown in the urban areas should be contracted by ZUPCO. However, many private operators who spoke to Business Times said ZUPCO was declining to register them despite meeting the set

standards.

One of the commuter bus operators in the capital, Michael Kasvosve, said before the Covid-19 outbreak there were over 1 000 kombis transporting passengers to and from work daily.

This was, however, stopped by the government after it allowed only ZUPCO to operate.

But ZUPCO is, however, failing to cope with the demand.

Kasvosve said they were now on the brink of collapse.

“We went to ZUPCO to have our kombis registered but most of them were turned away and we now have the problem where people have no buses to carry them home and (they) remain stranded in the cities after curfew hours,” Kasvosve said.

“Our kombis are road worthy and have fitness certificates. We also have the resources to buy medical test kits and sanitisers for our drivers and passengers but we’re denied licences by ZUPCO.” Local government minister July Moyo said his ministry

BT

was seized with the matter and wanted to ensure that kombis that are road worthy can be added to the ZUPCO buses fleet.

“Any kombi that is fit can be registered by ZUPCO as we want order on the roads. We now want a situation where we can monitor Covid-19 at ZUPCO stations,” Moyo told Business Times.

Before the Covid-19 outbreak there were over 1 000 kombis transporting passengers to and from work daily.

Private commuter omnibus operators have appealed to the government to end the monopoly currently being enjoyed by the state-controlled ZUPCO

Fear grips farmers PRESS STATEMENT

FREE COVID 19 VACCINES TO ZIMBABWE CITIZENS 1.

It has come to my attention that, my comments about the payment for the COVID-19 vaccine, have been taken out of context.

2.

I would like to make it clear that, the vaccines that the Government is procuring with the support of our international partners and frieds, will be made available for free, to the Citizens of Zimbabwe.

Hon. Prof M. Ncube MINISTER OF FINANCE AND ECONOMIC DEVELOPMENT 04 February 2021

Some experts say Zimbabwean farmers lack financial support to utilise more land.

LIVINGSTONE MARUFU

Fear has gripped local farmers following the government’s ultimatum giving them up to the end of next week to submit production return forms with many believing it is a ploy by authorities to remove them from their land, Business Times can report.

The government is embarking on crop production assessment exercise throughout the country.

Initially, the Ministry of Lands, Agriculture, Water, Fisheries and Climate Change, set the submission of production returns by the end of January.

The deadline was extended to February 15.

A Banket farmer, Tendai Murahwa told Business Times that the evaluation of farmers’ productivity was part of the government’s ploy to “evict some farmers from their land”.

Murahwa questioned the government’s motives for farmers to submit forms during the Covid-19 pandemic which restricts human movement.

“Why the rush on wanting to evaluate people. Why can’t they bring in their personnel

to visit farms and make their appraisals on the ground rather than to eliminate the farmers using forms like they are doing?” he queried.

He said while it was a given that there should be production on the land, losing a farm because one has failed to submit a form is wrong and does not reflect production on the ground as some will put up good numbers yet they are not doing as good as shown on the submitted papers.

“The reports we heard during those days of US$3.5bn white farmers’ compensation deal that the government was going to give back the land to white farmers seem to have some truth in it,” Murahwa said.

Zimbabwe Commercial Farmers Union president Wonder Chabikwa said farmers required more time to assess production, fill in return forms and travel from the length and breadth of the country and they can submit “when the pandemic slows down”.

Farmers have stepped up production resulting in Zimbabwe breaking the 1998 tobacco production record of

236m kilogrammes (kg) by producing 258m kgs in 2019.

In 2017, farmers harvested over 3.5m tonnes of grain against a requirement of 1.8m per year.

Some experts say Zimbabwean farmers lack financial support to utilise more land. This comes on the backdrop of banks’ reluctance to lend due to the absence of collateral.

Another farmer at Oribi Farm, in Juru, who spoke on condition of anonymity, said it was unfair for farmers to be moving up and down when government officials are in their homes and do not want to be exposed to the deadly pandemic.

“From the look of things, the agriculture minister and his colleagues want to remove some farmers under the guise of ‘use it or lose it’ policy to place their relatives or friends on the land,” the farmer said.

Another farmer in Wedza, Mashonaland East said: “We may not be doing as the government officials are doing in their farms as they inherited former white commercial farmers and are getting support from government and banks.”

11

BT Insight

11 - 17 February 2021

BUSINESS TIMES

Performance analytics and why it matters for every firm

BENJAMIN SOMBI HR analytics technology is changing the human capital development landscape. Global benchmarking trends reveal a gap between what executives in different organisations expect from HR professionals and what they can deliver.

Performance Analytics help HR professionals to diagnose the current and projected strengths and vulnerabilities of their workforce.

It provides real time evidence that enables performance improvement solutions that optimise human and organisational performance.

Collecting data on employees’ performance is an important part of HR practice.

According to research, in the past performance has been approached from a betweenperson perspective in which levels of performance between employees or teams were compared.

For example, you can compare the KPIs of different employees to determine who is performing better or worse than others. This approach is often used to determine work incentives and bonuses, as well as identify which employees need additional training and development.

According to McCormick at al (2018), the betweenperson approach is useful to know what general tendencies of your employees are, such as who tends to be a high performer but it does not give us a full picture.

Many factors influences performance such as; how the person feels physically and mentally on a given day, the environment and situations the person encounters, people around, or what kind of tasks and responsibilities they have.

In other words, performance is determined by more than just employees’ skills and knowledge.

Using HR analytics to identify factors and situations that trigger changes in performance can help to create an environment where employees and companies thrive.

Most organisations have realised that conventional

performance review systems are outdated, do not capture real-time performance, and fail to provide timely feedback and improvement opportunities to employees.

According to the Randstad India HR Game Changers 2016 Survey, 28% of HR leaders feel employee performance methods need to undergo a significant structural change and evolve into something more transparent. A PwC report highlights that 52 per cent of organisations have made or are planning to make changes to employee performance in the near future.

For example, India’s leading IT services companies, Tata Consultancy Services and Infosys, have shifted to a continuous performance review system.

By doing so, these two organisations believe that they will be able to monitor employee performance at regular intervals and predict their behaviour, which could affect their engagement levels.

With the help of analytics, HR can also identify engagement activities which have the maximum and minimum impact on employee performance. This exercise has two-fold advantages.

One, an organisation can direct their investment towards initiatives that generate the highest interest in the engagement levels.

Two, an organisation can define measurable metrics that co-relate engagement and performance.

Since organisations usually review employee performance annually, it leaves little time for HR to act on possible flight risks.

However, performance analytics gives real-time information to take timely decisions. HR can recognise red flags of performance and predict which employees fall in the highest flight risk category.

It can then either discuss the matter directly with the employees or implement tailormade retention programmes to re-engage them. When HR can gauge employee performance from analytics, succession planning also becomes easier.

It can anticipate promotions, transfers and firing in advance.

Accordingly, it can forecast workforce requirements and work towards filling the open positions.

HR is discovering the advantages of analytics in predicting employee performance and improving quality of hiring during recruitment.

Analytics can mine data on the candidate’s personality, behavioural traits and skills to throw useful insights into whether he or she would be the right fit for the organisation.

In a TJinsite Survey from TimesJobs.com, 90% of companies agree that predictive analytics is a promising hiring tool and could be the future of talent hunting. However, only seven percent of companies are using it for performance assessment during hiring.

Schneider Electric uses predictive analytics. Also, they used psychometric assessments, behavioural event interviews, PAPI (Personality and Preference Inventory) and Hogan assessments to avoid gut-based recruitment.

Analytics helps it to prioritise and target only those candidates who are most qualified for a specific role or position. One of the company’s executives said, “The use of data and predictive analytics can impact the manner in which companies interact with customers, besides transforming how they search for, discover and retain promising talent.”

In a nutshell, employees’ performance goes beyond an average level that can be compared between people.

To better understand when and why employees thrive, it is essential to look at their patterns of performance and the reasons behind changes in these patterns. In this article, we gave a summary of how analytics can help in performance management and enhancement.

Benjamin Sombi is a Data Scientist, Entrepreneur, & Business Analytics Manager at Industrial Psychology Consultants (Pvt) Ltd a management and human resources consulting firm.

11 - 17 February 2021

Business Times

12

BT

Insight

The prosecutorial dilemma

Johannes Tomana DAVID TINASHE HOFISI The government of Zimbabwe recently announced its intention to ring fence members of the National Prosecuting Authority (NPA) in prosecutorial villages to ostensibly offer protection and curb corruption. Public prosecutors are under intense scrutiny due to claims of compromise and corruption.

There are currently two public prosecutors in detention and another yet to be apprehended in connection with bail decisions in armed robbery cases. The constant claims of corruption and subversion of prosecutorial guidelines all evince systemic problems rooted in the 2013 Constitution.

During the 2013 constitutional reform process, members of the MDC-T were keen to reform the office of Attorney General. As the officer responsible for public prosecutions, the Attorney General was an indispensable cog in the government’s persecution of opposition members.

Not only were requests for prosecution of ZANU PF activists ignored, but the then Attorney General, Johannes Tomana, issued a directive for bail to be opposed in all political cases. This was, effectively, an order against members of the MDC-T. Prosecutors were also to appeal against any successful bail applications, which resulted in the suspension of bail orders. In this way, the right to bail was manipulated to ensure political opponents were detained without trial.

To remedy this misfeasance, the makers of the 2013 Constitution removed the prosecutorial authority from

the office of Attorney General.

The Prosecutor-General was established as an independent officer whose appointment and removal is similar to that of a judge.

Whilst the Attorney General is appointed solely by the president, the ProsecutorGeneral is appointed after a public interview process and enjoys constitutional independence. Independence in prosecutorial decisionmaking is essential for the proper administration of justice.

It shields the general public from excessive, unlawful and unconstitutional law enforcement whilst increasing the institutional checks on restrictions of liberty. This ensures that the police are the only body lacking institutional independence in the criminal justice value chain.

Consequently, accused persons are assured that the decision to prosecute is made impartially and rationally. This is consistent with prosecutors’ supervisory role as provided in the United Nations Guidelines on the Role of Prosecutors.

However, the independence granted to the ProsecutorGeneral is not diffuse. It does not extend to every member of the NPA. It is akin to granting judicial independence exclusively to the Chief Justice. Independence which is only secured for the apex official does little in protecting the general public from corruption, excessive policing or political interference.

It facilitates elite cohesion through executive capture since a president need only appoint a pliant Prosecutor-General to secure the conformity of all NPA personnel. Independence centralised in the top officer is also amenable to corruption

since it is only one officer, with name recognition, who would be the subject of bribery in all prosecutions.

Diffuse independence would encumber such efforts and enable prosecutors to operate as shields against excessive law enforcement without fear of arrest for corruption or criminal abuse of office.

The overwhelming power granted to the ProsecutorGeneral probably explains the high turnover of incumbents, with three different officers (Johannes Tomana, Ray Goba, Kumbirai Hodzi) since the enactment of the Constitution in 2013.

Restricting independence to the apex office has several other deleterious outcomes. It makes members of the NPA obedient servants of the ProsecutorGeneral as a consequence of constitutionally ordained docility.

Obedience to instructions becomes the preferred trait via a militaristic approach which accounts for the proliferation of uniformed personnel in the office of public prosecutor (a practice only halted by a Constitutional Court ruling).

This also restricts prospects for career advancement.

Prosecution is an honoured and respected job in many established democracies. In the USA, it is so venerated that current Vice President, Kamala Harris, built her political career on her prosecutorial experience, under the moniker of the progressive prosecutor.

Thus, prosecutorial choices not only reflect professional competence but ideological commitment to rule of law fundamentals. Zimbabwean prosecutors cannot make such choices. They are obligated to follow instructions, even when such instructions are in clear defiance of legal

4

However, the independence granted to the ProsecutorGeneral is not diffuse. It does not extend to every member of the NPA.

precepts. This stunts their professional development and career prospects since all key decisions are attributable to their principal.

It is noteworthy that the Prosecutor-General does not have to appear in court to defend the decisions he requires his officers to make.

It is individual members of the NPA who put their faces to high profile cases and suffer the personal, professional and reputational costs for decisions made by their superiors.

In the very least, an officer must only defend a decision which they participated in reaching, more so when the decision has implications on fundamental freedoms. Some critics have openly questioned the professional competence of public prosecutors and harangued officers in the invidious position of following instructions which lack sufficient grounding in law.

Further, this constitutional scheme grants the Prosecutor General plausible deniability.

Even though members of the NPA are required to follow his instructions, none of these instructions are ever in writing.

A claim of refusal to follow instructions can always be made after the fact, without proof, leaving prosecutors vulnerable to arrest and detention no matter their conformity with superior orders.

This vulnerability induces real fear and explains prosecutors’ refusal to be involved in such cases as the one against a member arrested for consenting to the release of Ignatius Chombo’s passport.

According to the case of Moll vs Commissioner of Police, an arrest that is based solely on superior orders is unlawful.

Courts have stated that the arresting officer has to be personally satisfied regarding the existence of reasonable suspicion for the commission of an offence. This standard should be applied to the NPA. It makes little sense that police officers are legally obligated to apply their minds before restricting liberty yet legal practitioners for the State are made to blindly follow superior orders.

Since judicial officers independently apply their minds, and the arresting detail is required to do the same, prosecutors must act on individual opinions regarding the validity of prosecutions.

The public safety implications of armed robbery cases justify the commonly held view that bail must be opposed in such matters.

However, we must ascertain whether prosecutors have the latitude to make such decisions before we demand that they are held accountable.

The decision to arrest a

prosecutor, like that to detain a judge, is a grave infraction which must only be resorted to in exceptional circumstances.

The frequency of such arrests is deplorable and requires that, in the very least, the decision to prosecute is attributable to the prosecutor concerned through the grant of individual independence.

Prosecutors face the public and professional costs consequent to the decision to prosecute and since there cannot be taxation without representation, there can neither be accountability without responsibility.

It is apparent that the constitutional separation of the Prosecutor-General from the Attorney General has not resulted in greater independence or impartiality in the decision to prosecute.

It has consolidated power in an independent office which can issue directives akin to those delivered by Johannes Tomana.

Consequently, the grant of bail continues to be used as a tool of repression, with individual prosecutors hung out to dry via a constitutional scheme which will not be remedied by their arrest, detention or accommodation in the vaunted prosecutorial villages.-- https://davidhofisi. blogspot.com/

11 - 17 February 2021

BUSINESS TIMES

InsidePolitics

The Ugandan government has announced the full restoration of internet and social media services. “We apologise for the inconveniences caused, but it was for the security of our country,” Peter Ogwang, State Minister for ICT and National Guidance, tweeted.

13

A popular reggae track condemning corruption in Zimbabwe - that has taken off online - has been reviewed by the government spokesman as “a very boring song”.

Huge debt cripples Gweru City Council CHENGETAI ZVAUYA

The Gweru City Council says its service delivery is being severely hampered by the failure by residents and institutions to service their debts with the local authority.

Gweru City Council requires about ZWL$75m every month to effectively deliver service to residents and institutions.

But the city’s spokesperson, Vimbai Chingwaramusee, said residents and institutions owed Gweru City Council more than ZWL$270m at the end of December 2020.

Chingwaramusee said this during an online discussion “Billing System Explained” with Gweru residents and stakeholders.

“We are owed ZWL$270 235 005.32 and due to nonpayment of the bills, service delivery is greatly affected as we fail to pay for water treatment chemicals thereby compromising water quality,” Chingwaramusee said.

“We fail to repair our road

network, to buy pipes for repairing water and sewerage bursts, to buy adequate fuel for refuse collection and we can’t even repair the public lighting system.”

She said the city was failing to maintain its fleet and paying statutory obligations like pensions.

Asked why the local authority was not disconnecting the defaulting residents and institutions, Chingwaramusee said the local authority was using moral suasion by inviting debtors to come and make payment plans.

She said the city has suspended water disconnections “because we have to follow the Covid-19 guidelines”.

Chingwaramusee said the issuance of summons and attaching of residents’ property was not very popular with politicians. She said the debt was incurring interest and those who are up to date were being granted discounts.

However, she said

government departments that owe them millions of dollars in unpaid rates could be disconnected, although there was a tripartite arrangement to offset debts.

“We can disconnect government departments in the city and we will do so however we have a standing arrangement of doing a tripartite setoff of the bills between the City of Gweru, government departments and what we owe the Zimbabwe Revenue Authority,” Chingwaramusee said.

“The set off process takes time and has a lot of inconveniences. We have since written to all Government Departments that should their bills remain unpaid we may soon invoke the by law provisions.”

Gweru City Council spokesperson, Vimbai Chingwaramusee

Govt tightens security

Defence and War Veterans Affairs minister, Oppah Muchinguri- Kashiri CHENGETAI ZVAUYA The government says it is tightening security checks to enforce the lockdown measures it put in place to curb the spread of the deadly Covid-19 amid violations of the measures, Cabinet minister has said.

Last month, the government ordered nonessential businesses, churches, bars and the informal sector to suspend operations for a month to stem a rise in new cases of Covid-19 and deaths.

A 6pm to 6am curfew was imposed. The lockdown was extended to February 15.

Defence and War Veterans Affairs minister, Oppah Muchinguri- Kashiri, told Business Times that the government was concerned with movements and activities of people during Covid-19

lockdown and there was need for tight enforcement of the law.

“We have noted with concern that some people want to continue to operate their businesses and others move beyond the curfew times,” said MuchinguriKashiri, who chairs the Ministerial Task Force on the Covid-19 Outbreak.

She said the government would deal with those who are breaking the law without fear or favour.

Her warning comes at a time some night clubs and bars are operating and selling alcohol to the public despite the prohibition.

Muchinguri-Kashiri said more members of the defence forces would be deployed countrywide to ensure the enforcement of the Covid 19 regulations.

The second wave of Covid-19 has been virulent claiming high profile personalities. This year, it has killed three ministers—Sibusiso Moyo, Joel Biggie Matiza and Ellen Gwaradzimba—and retired generals Douglas Nyikayaramba and Paradzai Zimondi.

Zimbabwe has reported more than 34 000 cases of Covid-19 since March last year, 28 000 recoveries and 1 300 deaths, according to official data obtained from the Ministry of Health and Child Care this week. Cabinet noted on Tuesday that Zimbabwe has to accelerate the acquisition of vaccines in order to halt a potential third wave. It said there was a decline in infections and deaths as a result of the lockdown measures.

11 - 17 February 2021

Business Times

14

New Presidium

Justice should not be expensive - Magaya

L

aw Society of Zimbabwe (LSZ) president Wellington Magaya has said access to justice by members of the public and the promotion of the independence of the legal profession will be some of the items in his in-tray during his tenure at the helm.

Magaya recently took over the reins at LSZ from Thandaza Masiye-Moyo who stepped down after serving his full two-year term.

His tenure ends in December 2022 and will be deputised by Rumbidzai Matambo.

“Access to justice is important.

Justice should not be expensive.

The courts, the sheriff, and the messenger of court charges fees.

The Deeds office, Companies Office, IP office, charge fees for their services but the quality of service that members of the public are getting from these government departments has not been satisfactory and can be improved if we are to realize the goal of affordable access to justice for all.

We need to make sure that justice is generally accessible to members of the public,” Magaya told Business Times.

He said the justice delivery system has to operate in a manner that “inspires confidence to members of the public and investors if we are to realise the developmental aspirations of the country” and rule of law must be “upheld and promoted”.

“The Law Society of Zimbabwe has always worked with the government particularly the Ministry of Justice, Legal and Parliamentary Affairs, the Judicial Service Commission, the police in making sure that the justice delivery system continues to function and operate in a manner that inspires confidence in the general economy and in members

of the public when they interact with the justice delivery system.

So it is something I also intend to continue,” Magaya said.

“Most litigants now prefer to use arbitration is resolving highvalue commercial disputes and this is because there is a realisation that there are deficiencies in the public court system ranging from delayed hearings and too many reserved judgments to the general inconsistent application of the law.

“The rules of court allow virtual hearings but this is yet to be implemented and litigants, businesses have lost valuable time and money because the courts are closed as a result of the current lockdown. Why are we lagging behind as a jurisdiction? These are some of the areas that all stakeholders must focus on.”

He said an independent judiciary was key to the operation and practice of law in Zimbabwe and it also helps to build confidence in the economy.

“Related to that is the independence of the legal profession. In terms of the law and global practice, the legal profession is supposed to be independent and its independence must be promoted and respected mainly by the State,” Magaya said.

“It is an area that I am going to jealously guard and promote.

Independence of the legal profession means that lawyers must be allowed to regulate themselves.

Lawyers must be allowed to operate independently, freely and without any interference, harassment from the State.”

Lawyers have in the past been arrested in the course of their duties.

Magaya said they have to come up with strategies for addressing it.

“We have complained to relevant authorities and we are not quite satisfied with the responses that we have been given and our members

Law Society of Zimbabwe (LSZ) president Wellington Magaya

10 Selous Ave, Harare

“Makorokoto, Amhlope, Congratulations!

The Kantor & Immerman Team heartily congratulates Councillors Mr. Wellington Magaya and Mrs. Rumbidzai Ndlovu Matambo on their recent election as President and Vice President respectively, of the Law Society of Zimbabwe.

We take the opportunity to celebrate this appointment with you and wish you continued success.

Tel. 242-793626-9, 704438, 704351/2

The Kantor & Immerman Team heartily congratulates Fax. 704436, 707141 Councillors Wellington Magaya m and Rumbidzai W ebsiteMr. Address: w w w .kantorim ermMrs. an.co.zw Matambo on their recent election as President and Vice President respectively, of the Law Society of Zimbabwe.

We take the opportunity to celebrate this appointment with you and wish you continued success.

Tel. 242-793626-9, 704438, 704351/2 Fax. 704436, 707141 Website Address: www.kantorimmerman.co.zw

Mr. Wellington Magaya

Mrs. Rumbidzai Ndlovu Matambo

Mr Benson Mbewe

CHIMWAMUROMBE LEGAL PRACTICE ‘ZENAS’ would like to congratulate Councillors Wellington Magaya We at CHIMWAMUROMBE LEGALMr. PRACTICE ‘ZENAS’ would like and Mrs. Rumbidzai Ndlovu Matambo on their recent to congratulate Mr Benson Mbewe on his recent appointment as the election as President and Vice President respectively, of Chief Executive Officer for AB Communications Group. the Law Society of Zimbabwe.

We wish him great future endeavors and we in believe he is the the We wish themsuccess greatinsuccess in their tenure leading rightZimbabwe person to take AB Communications to greater heights and achieve its Law Society. mission and vision to the satisfaction of all its stakeholders.

“Makorokoto, Amhlope, Congratulations!

Once again we congratulate him on the appointment and we wish him all the best. We are proud to be associated with you and AB Communications.

are still accused persons and we interpret this interference with our work as a profession,” he said.

The Coghlan, Welsh & Guest partner said continued professional development of practitioners would be intensified under his tenure.

There have been reports of lawyers engaged in theft of trust property. Magaya said LSZ has a disciplinary mechanism in place in terms of the Legal Practitioners Act. Once a complaint has been raised on a lawyer, a thorough investigation will be launched and the concerned lawyer will be given an opportunity to respond to the allegations and then a decision is made, he said.

“So, we have done that and we will continue to do that. Bad apples will always be there, but what is important is we deal with them efficiently and effectively and in a manner that preserves the integrity of the profession,” Magaya said.

“Our role as a regulator is to protect members of the public from the few bad apples. If any lawyer offends or violates the rules of ethical practice, we are duty-bound to take action and we will do that in a transparent and fair manner.”

Magaya cut his teeth with the profession in 2008 when he joined Coghlan, Welsh & Guest as a professional assistant. He was promoted to a partner in June 2015. He holds an LLB and MBA degrees from the University of Zimbabwe. He is studying for a Master of Construction Law and Arbitration degree with a Scottish university.

He believes he has an obligation to make a difference and to preserve the legal profession “because we found it here; we should make sure that it continues to move with the times and adjusts to the realities of the 21st century”. The legal profession must continue to reflect what is currently happening in the world and catch up with the rest of the world, Magaya said.

“What really inspires me is that need to make sure that there is continuous improvement in the way lawyers work, the environment in which the lawyers work, and the legal profession adapting to changes that are being dictated by the environment. We need to develop and continue to capacitate the junior members of the profession because they are the future. They know where the world is going and their voice matters,” he said.

11 - 17 February 2021

Business Times

BT

15

Law Society of Zimbabwe New Presidium

Magaya elected new LSZ president

Councillor Wellington Magaya STAFF REPORTER Harare lawyer and Senior Partner at Coghlan Welsh & Guest, Councillor Wellington Magaya has been elected president of the Law Society of Zimbabwe (LSZ).

Magaya will be deputised

by Councillor Rumbidzai Matambo.

Councillor Rumbidzai Matambo.

The two were elected at the first Council meeting of the year on February 1, 2021.

The meeting followed the election of new councillors at the 2020 Annual General Meeting in December.

The new LSZ president takes over from Councillor Thandaza Masiye-Moyo who stepped down after serving his

full two-year term.

Masiye-Moyo said he was leaving the Society in very capable hands and was confident the profession’s future was guaranteed.

Councillor Magaya will serve a two-year term to December 2022.In his acceptance speech Councillor Magaya said he was “humbled by the trust the

fellow Councillors of the Law Society had bestowed on him.”

Key among the responsibilities Magaya targeted to deal which is maintaining the integrity of the profession.

The new president said he takes over leadership of the Society at a time when the COVID-19 pandemic has

disrupted the world and the profession has not been spared.

He said the Council would, under his stewardship, strive to improve efficiencies at policy and operational level.

Magaya specialises in Commercial Law, Project development and Financing, and employment law.

He has advised major local

and international corporates in the commodities and renewable energy sectors.

Magaya has been involved in the negotiation, structuring and advising clients in high value transactions and in respect of all regulatory requirements.

He has over the years been involved in commercial and

employment dispute resolution in both local and international tribunals LSZ was formed in 1981 to replace the previous bar association.

The membership is drawn from all registered legal practitioners residing in Zimbabwe whether in private practice, in commerce or in civil service.

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The Legal Resources Foundation (LRF) congratulates the newly elected Law Society of Zimbabwe (LSZ) President, Mr. Wellington Magaya and his Deputy President, Mrs. Rumbidzai Matambo. LRF looks forward to working with the incoming Law Society of Zimbabwe leadership in promoting human rights and access to justice for all. We wish them a successful term of office.

The Chairman, Managing Partner, Partners and all Staff of Matsikidze Attorneys at Law 7KH &KDLUPDQ 0DQDJLQJ 3DUWQHU 3DUWQHUV DQG DOO 6WDII RI 0DWVLNLG]H $WWRQH\V DW /DZ DUH SOHDVHG WR are pleased to congratulate Mr. Wellington FRQJUDWXODWH \RX 0U 6WHUQIRUG 0R\R RQ \RXU Magaya and Mrs. Rumbidzai Matambo on DSSRLQWPHQW DV 3UHVLGHQW RI WKH ,QWHUQDWLRQDO %DU their election as the President and Vice $VVRFLDWLRQ ,%$

President respectively of the Law Society of 7KH ¿UVW ,%$ 3UHVLGHQW RI $IULFDQ GHVFHQW LQ WKH Zimbabwe.

KLVWRU\ RI WKH \HDU ROG RUJDQL]DWLRQ :HOO GRQH IRU WKLV SKHQRPHQDO DFKLHYHPHQW We wish you success during your tenure

CONTACT US: 16 Oxford Road, Avondale, Harare, Zimbabwe TEL: +263 242 333707 Toll Free: 08080402 (free of charge for Econet numbers) SMS: +263 787108721- 3 Web: www.lrfzim.com Email: adc@lrf.co.zw Twitter: LRFZimbabwe Facebook: lrfzimbabwe

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16

BOOKS MUSIC TRAVEL MOTORING

11 - 17 February 2021

Life Arts Australia tennis chief urges strict quarantine for Tokyo Olympics

Annika Sorenstam to make LPGA return after 13 years

SPORT:

SPORT: Page 18

Page18

Success in the arts industry and hundred questions

PATIENCE MUSA

I

f you had to come up with a list of five of the most successful Zimbabwean artists of all time, who would be on that list?

Would you pick Bhundu Boys for their European produced track Jiti Jive and Madonna meeting them and adoring them? Maybe you would have Oliver Mtukudzi at number one for the number of albums he produced all his life, the stages he graced all over the world and how his music was able to spread beyond borders.

How about Rozalla Miller, for her track Everybody’s Free?

Not sure where she stands at the moment though – born in Zambia raised in Zimbabwe, but she shared the stage with Michael Jackson and that could be success in someone’s eyes!

According to Tabvi Motsi aka Mellowcreame a Zimbabwean hip hop artist the definition of a successful Zimbabwean artists is “Oliver Mtukudzi and Thomas Mapfumo, an artist that represents Zimbabwean heritage, social commentary and storytelling.

Four dimensional – on stage, off stage.”

Is success in the arts measured by the number of legends you get to work with and the numbers that are touched by the ‘art’? Bernie Bismark played keyboards for THE Earth Wind and Fire and wrote songs for The Jackson 5 and she broke bread with Catherine and Joe Jackson. Is it about the albums sold?

If that’s the case we will have to look at Sungura and kanindo artists – John Chibadura, Leonard Dembo, Devera Ngwena Jazz Band, System Tazvida, Penga Udzoke, Simon Chimbetu, only mentioning some - the artists that were big during the era of vinyl and cassettes before the internet made everything ‘soft’. Hosiah Chipanga could be a contender too for always following his heart and writing songs about whatever he wants whenever and however he wants.

Could it be that success is about the most played or requested songs in bars at growth points, or at radio stations? Success at times is defined in terms of popularity.

If an artist is played by the radio stations, is out there performing all over town and all over the country, if they appeared in the paper often. If they are well known and on television a lot the likes Phillip Gadzikwa Mushangwe aka Paraffin, Simon Shumba aka Mutirowafanza - then they are successful.

So can a person be successful and yet not have money … be poor at the same time? According to Prosper Ngomashi aka Comic Pastor success as a Zimbabwean artist is “…as per individual. Being able to do what you couldn’t

do before you were an artist like affording a decent drive, owning or affording decent accommodation and many other small things it’s part of Zimbabwean Artist success.

Getting paid from your art is success because most of the artists hardly make a living out of their art you will see an artist with a 9-5 extra job to supplement their incomes (look at Janet Manyowa for instance).

Getting a paying recognition from the corporate world is also success to a Zimbabwean artist. Then we come to awards and other recognitions locally regionally or internationally can also be deemed as success.

Last but not least being able to maintain a level of consistency in your art can also be defined as success regardless of you making money out of it maybe you could be funding the art from other sources but as long as people see you year in year out you can be called successful” Is success tangible? Being human means that we judge people by what they show us, if they dress well and drive fancy rides then we like to conclude they are successful.

Do we need to see the success to believe it? Can someone sell success, look successful and yet not be successful at the same time?

Maybe the Zimbabwean arts industry is just not equipped to produce ‘successful’ artists?

Renowned Zimbabwean filmmaker Joe Njagu is of the opinion that: “A successful artist is one who has managed to be able to make a sustainable living out of their craft.” Can we therefore state that there are some artists who have made money but not through their art, they are NOT successful artists…successful at other things though?

Maybe success is defined by a universal term, if that is so can we then

apply the Oxford dictionary definition which defines success as ‘a person that has achieved a good result or goal—achieving something one wants or has been trying to do or get: the fact of becoming rich or famous or getting a high social position.’? What about Jesus Christ, in a way God is regarded as the original artist. Jesus Christ had no earthly riches…no donkey or horse.

He didn’t own a house or companies/businesses, was he not successful? This leads us to personal goals, what are the artists goals – to make money, to become famous, or for a message to be heard. Is success in the arts similar to success in all the other industries? What determines a teacher’s success?

The teacher’s bank account of the number of children who pass exams?

Who determines success anyway… fans, journalists, bloggers, critics or the individual himself or herself?

Is it based on where the artist is coming from and what they have achieved? Is success determined by likes, followers on social media, or maybe the numbers voting for the number one song at the end of the year? Victor Kunonga believes success is “measured by individuals in different ways. In my view the definition of a successful musician is one that conveys a message that impacts the listener by evoking a reaction that may be in the form of emotions and possible a physical reaction.

One that can deliver a social message which is prophetic and timeless. Remember music isn’t just measured by the message because our message may be in a language we do not understand or may not have words to it. Success is in how one is still able to communicate a message without necessarily singing but through instruments and melodies alone.”

What kind of artists are we thinking of here?

The artists that judge their success through how many lives are touched by the art piece and the effect the art has, or the artists that judges’ success through wealth accumulated from art sales.

“When an artist no longer cares how the world sees their art, they are free to become truly successful.”

– John R Math.

Rozalla Miller

Bhundu Boys

Business Times

11 - 17 February 2021

BT

17

International

Myanmar protests resume, West condemns security response

P

rotests spread across Myanmar on Wednesday after the most violent day in demonstrations against a coup that brought to a halt a tentative transition to democracy under elected leader Aung San Suu Kyi. The United States and United Nations condemned the use of force against protesters who are demanding the reversal of the Feb. 1 coup and the release of Suu Kyi and other detained leaders of her National League for Democracy (NLD) and activists.

“We cannot stay quiet,” youth leader Esther Ze Naw told Reuters.

“If there is blood shed during our peaceful protests, then there will be more if we let them take over the country.”

Thousands of people joined demonstrations in the main city of Yangon. In the capital, Naypyitaw, hundreds of government workers marched in support of a growing civil disobedience campaign.

A group of police in Kayah state in the east joined the protesters and marched in uniform with a sign that said “We don’t want dictatorship”, according to pictures published in media.

A clinic that had been treating wounded protesters in Naypyitaw on Tuesday was taken over by soldiers, a doctor there said.

Another doctor said a woman protester was expected to die from a gunshot wound to the head sustained during a confrontation with police in Naypyitaw on Tuesday.

She was wounded when police fired, mostly into the air, to clear the protesters. Three other people were being treated for wounds from suspected rubber bullets, doctors said.

Protesters were also hurt in Man-

dalay and other cities, where security forces used water cannon and arrested dozens. State media reported injuries to police during their attempts to disperse protesters, who were accused of throwing stones and bricks.

The military has imposed restrictions on gatherings and a night curfew in the biggest cities.

‘Disproportionate’ response The protests are the largest in Myanmar in more than a decade, reviving memories of almost half a century of direct army rule and spasms of bloody uprisings until the military began relinquishing some power in 2011.

Western countries have condemned the coup but taken little concrete action to press for the restoration of democracy.The U.S. State Department said it was reviewing assistance to Myanmar to ensure those responsible for the coup faced “significant consequences”.

“We repeat our calls for the military to relinquish power, restore democratically elected government, release those detained and lift all telecommunication restrictions and to refrain from violence,” spokesman Ned Price said in Washington.

The United Nations called on Myanmar’s security forces to respect people’s right to protest peacefully.

“The use of disproportionate force against demonstrators is unacceptable,” Ola Almgren, the U.N. representative in Myanmar, said.

Avinash Paliwal, a senior lecturer in international relations at London University’s School of Oriental and African Studies, said Myanmar will not be as isolated now as it was in the past, with China, India, Southeast Asian neighbours and Japan unlikely to cut ties.

“The country is too important geo-strategically for that to happen.

The U.S. and other Western countries will put sanctions - but this coup and its ramifications will be an Asian story, not a Western one,” Paliwal said.

Critical condition A doctor in Naypyitaw said the woman who was shot in the head was in a critical condition and not expected to survive. Social media video verified by Reuters showed her with other protesters some distance from a row of riot police as a water cannon sprayed and several shots could be heard.

The woman, wearing a motorcycle helmet, suddenly collapsed. Pictures of her helmet showed what appeared to be a bullet hole.

“Now we see the military takes brutal action against us,” said Htet Shar Ko, an interpreter. “But we young people will keep fighting against the regime under our motto military dictatorship must fail.”

The military justified its takeover on the grounds of fraud in a Nov. 8 election that Suu Kyi’s NLD party won by a landslide, as expected. The electoral commission dismissed the army’s complaints.

Late on Tuesday, police raided the NLD’s Yangon headquarters, lawmakers said. Alongside the protests, a civil disobedience movement has affected hospitals, schools and government offices. Activist Min Ko Naing called in a Facebook post on all government workers to join the disobedience campaign, and for people to take note of who did not participate.

Protesters are seeking the abolition of a 2008 constitution drawn up under military supervision that gave the generals a veto in parliament and control of several ministries, and for a federal system in ethnically diverse Myanmar.

South Africa says J&J vaccine will be given to health workers in study South Africa’s health minister said on Wednesday that the country would vaccinate health workers with Johnson & Johnson’s Covid-19 vaccine in the form of an “implementation study” in partnership with the Medical Research Council.

The decision comes just days after the country put on hold the roll-out of the vaccine developed by AstraZeneca and Oxford University following data in a small clinical trial that showed it did not protect against mild to moderate illness from the 501Y.V2 variant of the virus now spreading quickly in South Africa.

“Given the outcome of the efficacy studies, the department of health will continue with its planned phase one vaccination targeting the health workers and using the Johnson & Johnson vaccine instead of the AstraZeneca vaccine,” Health Minister Zweli Mkhize said.

“The J&J vaccine has been proven to be effective ... The rollout of the vaccination will proceed in the form of an implementation study with a partnership between the Medical Research Council and the national department of health.”

Advisers would be able to give a considered view on how to deal with the AstraZeneca vaccines in the next week or so, he added. Selling the doses was an option, Mkhize said.

South Africa says it will use the J&J vaccine

Mkhize said the country had also secured Covid-19 vaccine doses from Pfizer Inc and that negotiations with Moderna were ongoing.

The J&J vaccine was 89% effective at preventing severe disease and 57% against moderate-to-severe disease in the South African leg of the global trial. Ninety-five percent of

infections observed in the local study were due to the 501Y.V2 variant first identified late last year.

The 501Y.V2 variant has alarmed health experts who have raised concerns about its ability to potentially evade the immune response generated by prior exposure to the coronavirus or vaccines. — Reuters

Aung San Suu Kyi

Suu Kyi, 75, won the Nobel Peace Prize in 1991 for campaigning for democracy and spent nearly 15 years under house arrest. She faces

charges of illegally importing six walkie-talkies and her lawyer said he has not been allowed to see her.

Suu Kyi remains hugely popu-

lar at home despite damage to her international reputation over the plight of theMuslim Rohingya minority. - BBC.

‘They were warned’: Experts on India’s Himalayan glacier disaster When Ravi Chopra saw the devastating deluge of water and debris crash downstream from a Himalayan glacier on Sunday, his first thought was that this was exactly the scenario that his team had warned the Indian government of in 2014.

At least 31 people have died, 165 people are missing and many more are feared to have died, as the rescue operation continues in Chamoli district of northern Uttarakhand state.

The deluge first smashed into a small dam, gathering more energy as it grew heavier from the debris it collected along the way. Then it smashed into a larger, under-construction dam and gathered even more energy. Chopra and other experts had been tasked by India’s Supreme Court to study the effect of receding glaciers on dams. They had warned that warming temperatures due to climate change was melting the Himalayan glaciers and facilitated avalanches and landslides and that constructing dams in this fragile ecosystem was dangerous.

“They were clearly warned, and yet they went ahead,” said Chopra, the director of the non-profit body People’s Science Institute.

What caused it?

Scientists had first suspected that a glacial lake had burst but after examining satellite images now believe that a landslide and avalanche were

the more likely cause of the disaster.

What is not clear still is whether the landslide induced an avalanche of ice and debris, or whether falling ice resulted in the landslide, said Mohammad Farooq Azam, who studies glaciers at the Indian Institute of Technology at Indore.

What is known though is that mass of rock, boulders, ice and snow came crashing down a two-km (1.2mile), near-vertical mountain slope on Sunday. And now scientists are trying to figure out if the heat produced during this crash due to friction would be enough to melt the snow and ice to result in the flood of water, he said. Experts say that the disaster underscores the fragility of the Himalayan mountains where the lives of millions are being altered by climate change.

Even if the world was to meet its most ambitious climate change goals, rising temperatures would melt a third of the Himalayan glaciers away by the end of the century, a 2019 report by the International Centre for Integrated Mountain Development found. Himalayan glaciers are melting twice as fast since 2000 as they were in the 25 years before due to human-caused climate change, a 2019 paper published in the journal Science Advances found.

Whether this particular disaster was caused by climate change is not

known. But climate change can increase landslides and avalanches.

As glaciers melt due to warming, valleys that were earlier crammed with ice open up, creating space for landslides to move into. In other places, steep mountainous slopes may be partially “glued” together by ice frozen tightly inside its crevices.

“As warming occurs and the ice melts, the pieces can move downhill more easily, lubricated by the water,” explained Richard B Alley, a professor of earth sciences at the Pennsylvania State University.

With warming, ice is also essentially becoming less frozen. Earlier its temperature would range between minus 6 degrees Celsius to minus 20C and it it is now minus 2C (from 21.2 degrees Fahrenheit to minus 4F earlier to 28.4F now), said Azam.

The ice is still frozen, but is closer to its melting point, so it takes less heat to trigger an avalanche than some decades ago, he added.

Another threat from warming temperatures is that of a glacial lake bursting – what some first suspected was the cause of Sunday’s disaster.

The hazard posed by these expanding lakes becoming more susceptible to breaches cannot be ignored, said Joerg Michael Schaefer, a climate scientist who specialises in ice and especially Himalayan glaciers at Columbia University. — AP.

Standard Bank keen to raise Angolan stake after partner jailed Standard Bank Group Ltd is interested in buying shares it doesn’t already own in its Angolan unit after an investor in the business was detained and his shares seized by authorities.

“Over the last two years we have increased our stake in our subsidiaries in Kenya and in Nigeria,” Sola David-Borha, the chief executive officer of Johannesburg-based Standard Bank’s African division, said in a video call. “If the opportunity arises in Angola as well, we will do so.”

A rule barring foreign companies from full ownership of businesses in Angola was in place when Africa’s largest lender opened its unit in the southern nation in 2010, but has since been scrapped for some industries.

Authorities seized the assets of Carlos Sao Vicente, Standard Bank’s 49% partner in the Luanda-based division, in September amid accusations of fraud. The action is linked to moves by President Joao Lourenco

to crack down on alleged graft under his predecessor’s rule.

Sao Vicente, who has been suspended as a director on the board of Standard Bank’s Angolan unit, remains in custody after prosecutors two weeks ago extended his detention period for an additional two months pending further investigations. His stake in Standard Bank was taken over by Angola’s state-asset management institute, known as IGAPE.

Angola is among the top six contributors to Standard Bank’s earnings from operations on the continent outside of South Africa. A presence in 20 sub-Saharan African countries has shielded the lender from some of the pain faced in its home market, where a moribund economy and restrictions to contain the Covid-19 pandemic bankrupted businesses and pushed up unemployment.

Standard Bank will continue to look for more business in sub-

Saharan Africa, where the International Monetary Fund is forecasting economic growth of 3.2% this year, David-Borha said.

This includes a bigger push into Ethiopia, where the government is opening up some sectors to private investors, and taking advantage of opportunities in Mozambique’s gas sector.

The lender has helped African sovereigns and corporates raise $2 billion in capital from the U.K. over the

past two years and is confident it can bring even more governments and companies to market, she said.

While the coronavirus has delayed plans to further open intra-African trade, a continent-wide agreement will boost momentum, David-Borha said.

The African Continental Free Trade Area agreement, which now has 54 members, will also benefit as trade finance moves to digital platforms, she said. — Bloomberg.r4

Manchester United boss Ole Gunnar Solskjaer said he was pleased with his players’ mentality in their FA Cup fifth-round win over West Ham United after “feeling low” following the draw with Everton. BBC

Liverpool’s defeated body language at the final whistle and the mood of resignation in manager Jurgen Klopp’s exchange with his Manchester City Pep Guardiola on Sunday were symbolic of what may prove the defining day in the Premier League title race. BBC

BTSPORT 11 - 17 FEBRUARY 2021

The summer for a bargain?

E

veryone loves a bargain and, with the next transfer window likely to see a repeat of last month’s low spending across Europe, this summer could again see many clubs similarly reluctant to pay big fees for players.

So it might be the perfect time for a freebie. That doesn’t necessarily mean some unwanted 40-year-old journeyman though - especially not this summer.

As football’s best players return to European action, many are already on the hunt for a new club with their contracts up in July.

BBC Sport takes a look at the stellar names that can currently be picked up for free this summer.

Transfer fees aren’t the whole story of course - wage demands can be astronomical - but the opportunity to sign some of these talents for free is nothing to be sniffed at.

AC Milan are flying high in Serie A this season but there are question marks over undisputed Italy number one Donnarumma, who has played more than 200 games since his debut at the age of 16.

Now 21, he is one of the most highly rated goalkeepers in the world and would normally command a fee over £50m, but contract talks with the clubs are currently frozen.

Other out of contract goalkeepers: Fernando Muslera, Lukasz Fabianski, Sergio Romero, Asmir Begovic Jerome Boateng (Bayern Munich) Germany World Cup winner Boateng has been a regular in the Bayern team this season, with the side topping the Bundesliga table once again.

The 32-year-old former Manchester City defender is open to a contract extension but the club are yet to begin talks with the player.

Sergio Ramos (Real Madrid) Sergio Ramos has played almost 700 games for Real Madrid. Real Madrid skipper Ramos will go down as

one of the game’s greatest defenders, playing nearly 700 games for the La Liga giants and scoring an astonishing 100 goals.

The centre-back turns 35 in March and Real have offered him a oneyear contract extension,but one that reportedly reduces his salary from £10.5m to £8.8m.

David Alaba (Bayern Munich) Austria international Alaba is the second key defender who could be departing Bayern this summer after failing to agree a new deal.

The 28-year-old, who can also play in midfield, has been heavily linked with a free transfer to Real Madrid where he will reportedly earn £204,000 a week after tax.

Other out of contract defenders: Eric Garcia, Juan Bernat, Patrick van Aanholt, Thiago Silva Fernandinho (Manchester City) The 35-year-old Brazilian has clocked up more than 300 games for City, and honours including three league titles and the FA Cup, but now Pep Guardiola may want to bring in fresh legs to replace the veteran midfielder.

The player himself is undecided over his future and reportedly has offers from South America.

Georginio Wijnaldum (Liverpool) Netherlands international Wijnaldum has still not signed a new deal with Liverpool and looks increasingly likely to be the first of the Reds players who won the Champions League and Premier League to leave.

The 30-year-old seems intent on fulfilling a boyhood dream of playing for Barcelona, where compatriot Ronald Koeman is the manager.

Memphis Depay (Lyon) Manchester United flop Depay rebuilt his career in France with Lyon but is yet to sign a new contract with the club.

The 26-year-old Dutch international has been heavily linked with a move to Barcelona, while Bundesliga side Borussia Dortmund are also said to be interested.Julian Draxler (Paris StGermain) Germany international midfielder

Sergio Ramos

Draxler has been in and out of the PSG team this season.

The 27-year-old says he intends to see out his contract at the Ligue 1 champions and will announce his next club in March.Other out of contract midfielders: Hakan Calhanoglu, Henrikh Mkhitaryan, Javi Martinez, Juan Mata Angel di Maria (Paris St-Germain) Another PSG man and the first of a tasty Argentina trio who are all out of contract this

summer.

Winger Di Maria had an ill-fated spell at Manchester United but has had a fruitful time in Paris, winning four league titles and reaching the Champions League final, and the 32-year-old is staying calm&quot; about his future.

Lionel Messi (Barcelona) Barcelona’s Lionel Messi is out of contract this summer The greatest player of all time avail-

able for nothing? Messi can talk to non-Spanish clubs right now and handed in a transfer request last summer before being persuaded to stay.

But a cash-rich team would need to pick up the 33-year-old’s hefty pay packet.A leaked report recently said his four-year contract at Barcelona including wages and other variables amounted to an eye-watering £491m.Sergio Aguero (Manchester

City) City’s all-time leading goalscorer Aguero has missed a large chunk of the season through injury and, at the age of 32, can Pep Guardiola rely on him to stay fit?

Reports say he may have to halve his current £260,000-a-week deal at Etihad Stadium if he is to stay there.

Other out of contract forwards: Zlatan Ibrahimovic, Olivier Giroud, Stevan Jovetic, Troy Deeney.

— BBC.

Australia tennis chief urges strict quarantine for Tokyo Olympics Making the Olympics safe from coronavirus will be difficult for Tokyo without stiff quarantine measures that will also inspire athletes and spectators with the confidence to attend events, Australia’s top tennis official said on Wednesday.

The Japanese capital is expected to welcome 11,000 athletes at the end of July, when it holds the summer Games postponed from last year because of the virus, but is not currently considering wholesale quarantine for them.

Speaking on the sidelines of the Australian Open, the first major Grand Slam event to host crowds, the chief executive of Tennis Australia said his experience of organising the contest suggested the Olympics needed rigorous quarantine measures.

“I’ve seen the playbook for the Olympics and I’ve looked at it carefully,” Craig Tiley told Reuters. “And compared to what we’ve done, we’ve had a far more rigorous program than is being proposed at the Olympics.”

Australia tennis chief, Craig Tiley

It took a gruelling effort by his 600-strong team over the last 11 months to get the year’s biggest sporting event, the Australian Open, ready for crowds amid the pandemic.

That included ferrying 1,200 players, officials and media on 17 flights from 8 countries, arranging 14 days of quarantine and more than 30,000 tests, while limiting any chance for the virus to return to a city that stamped it out with four months of hard lockdown last year.

Despite all that rigour, 10 people still tested positive, forcing the abandonment of a full day of warm-up matches while further testing and isolation measures were adopted.

No new related cases have emerged, but Tiley is aware that there is still a long way to go.

“I love the Olympic Games,” he said.

“I’d like to see it be successful.

But with the experience we had, I cannot see it working.”

Tiley suggested that Olympics organisers extend the games to allow for longer quarantine periods, with

athletes training in their own accommodation, such as on a university campus, before staged competition periods for each event.

“There’s no such thing as no risk,” he added. “But I cannot see it being done any other way, unless you are willing to accept a much higher risk of spreading the virus.”

Australia, with a tally of about 28,900 infections and 909 deaths, has proved to be one of the nations most successful in the campaign to restrain the virus.

It had technically eliminated community spread last month, but authorities and citizens are on edge since a spattering of cases that emerged in the past week among hotel workers are thought to be highly infectious strains.

That is believed to be one reason for low attendance of about 17,650 during the first two days of the tennis championship, amounting to just half the reduced COVID-19 capacity and a quarter of last year’s figure.

Longer incubation periods for new

strains suggest that quarantine needs to be extended beyond two weeks, Tiley added.

He said he hoped to evolve a model that encourages audiences to global sporting events over the next few years, and share his conclusions with others as well as the International Olympic Committee and the Japanese Tennis Association.

“Vaccination is not the silver bullet,” he said. “I don’t see physical distancing and the wearing of masks and the quarantine going (away) anytime soon.”

Melbourne Park has been divided into three distinct zones, with more than 800 dispensers of hand sanitiser installed, in addition to QTR code checks, click-and-collect arrangements for food and beverages and daily deep cleaning.

Organisers will need to make fans feel safe to entice them to attend, Tiley added. “I think 2022 is going to be different to 2021, but not much different hen it comes to health and the protection.”— Reuters.

Annika Sorenstam to make LPGA return after 13 years Annika Sorenstam will contest her first Tour event in 13 years at the LPGA Gainbridge Championship in Florida. Sweden’s 10-time major

winner, who won 72 LPGA events and 90 titles in all worldwide, retired in 2008. Florida-based Sorenstam stepped away from the sport to start

a family. I’ve thought about it since I heard the event was coming to Lake Nona, where we have lived for years, said Sorenstam. The members keep

asking me to play and I figured, why not? The Gainbridge LPGA takes place at Lake Nona Golf &amp; Country Club, Orlando,between

25 and 28 February.Sorenstam, 50, added that, schedule permitting she intends to participate in the US Senior Women’s Open in August. The

Swede played her first Tour event in 1993 - and in 2003, she became the first woman to play in a men’s PGA Tour event for 58 years.— BBC