Self-proclaimed Queen of Swagger and Former Big Brother Africa (BBA) housemate `Pokello Nare has revealed how she started her business empire from the boot of her car. The ‘Shoeprenuer’ said she started Pokello Pink Bottoms with a modest capital base of only 3000 USD with which she procured thirty pairs of high-end shoes. Because the shoes were upscale, when they sold out, her profit margin was as high as 150 percent and from then it was rinse and repeat. During a question and answer session on her Instagram page, a follower asked her, ” How did you start your business and how much was your capital. Do you mind mentoring?” She replied, “I started with 3000 USD. I then bought my first 30 pairs of shoes and sold them from the boot of my car. Because the
AUTHORITIES have announced Zimbabwe introduce a currency in the next 14 days. Reserve Bank of Zimbabwe Governor John Mangudya told a press conference after the monetary policy committee meeting, that the new currency will be issued in $2 and $5 notes as a way of dealing with the parallel money market. "The committee noted that the level of physical cash in the economy is inadequate to meet transactional demand, considering that the current proportion of cash to broad money of 4% is low compared to regional and international levels of 10-15%. This low ratio has resulted in an undesirable cash premium which the Committee would like to see eliminated," Mangudya said. The bank said in 2019, the economy reached new levels of electronic money usage.&nb
LOAN sharks in the farming town of Mvurwi are reported to be employing tactics of targeting businesses struggling with cash flow problems of restocking their supplies, H-Metro has learnt. The sharks also known as chimbadzo in local dialect are taking advantage of the instability of the foreign currency rates on the local money market to hoodwink businesspeople whom they know have properties or land. As is the norm when disbursing their funds where properly registered loan sharks demand collateral and other guarantees, these sharks deliberately forgo such necessities in anticipation of the customer failing to service his or her debts as a result of the fluctuating rates on the money market. One of the businessman from Mvurwi, Linos Chikwanha whose business has been strugg
Former first lady Grace Mugabe risks losing one of the properties that forms part of her family's sprawling residence in Harare's leafy suburb of Borrowdale - famously referred to as the Blue Roof - following a High Court ruling in June ordering the former first family to let go of that property. This comes as Grace is feeling the heat on number of fronts, including from artisanal miners who have moved onto her properties in Mazowe, in Mashonaland Central, following the recent move by authorities to allow people she had disposed of their land there to claim back. Grace risks losing all her properties in Mazowe – including her famed Gushungo dairy operations and top-notch school thereafter the government indicated that it could re-allocate the farms under her
The Apostolic Faith Mission (AFM) in Zimbabwe has been in turmoil in the past two years than at any stage in its history in the country. I am not Christian and I hope this disclaimer will help. It means I do not subscribe to either faction and have been questioning the Christology of their activities, without fear or favour. It means I am an outsider, reading from the terraces. Today, I climb down the terraces to wade into the murky waters. I am there deep in it in a manner that going back is as good as going forward. I have observed this narrative for long. It is fact not fiction that the current stand-off in AFM is not about anything, but wealth, wealth and wealth. It is gospreneurship, the art of making money from the word of God. It is a complex struggle t
FORMER First Lady Grace Mugabe’s empire is teetering on the brink of collapse following reports that she will be stripped off powers to the US$7 million Mazowe Orphanage project that she had usurped,” Zim Morning Post can reveal. This publication understands that the orphanage is under the government’s microscope, on basis that the project was a donation to the Zimbabwean government funded by a Chinese grant. Grace, however turned the project into a personal investment contrary to the clauses of the government to government agreement. According to the agreement, she was supposed to be the patron, not the owner of the orphanage. Zim Morning Post can authoritatively report that the project which now houses the Grace Mugabe state-of-the-art junior and secondary s
THE bitter fallout between President Emmerson Mnangagwa and the late former president Robert Mugabe which has divided their families, Zanu PF and government, as well as the public — exacerbated this week in his death as it did in life, with far-reaching political consequences. A series of dramatic events — including Mnangagwa’s visit to Mugabe’s home yesterday and his failure to break the deadlock over where his mentor would be buried – characterised the theatrical end of an era. “There has been so much fighting and drama over the funeral and burial issues since Mugabe’s death a week ago,” a senior government official said. “I have been talking to government officials and the Mugabe family; there is an interesting interplay of dif
Trading in any currency, which is not the Zimbabwe dollar, now attracts a fixed $6 000 fine and failure to pay the fine will result in the person involved being jailed. The new rules, gazetted yesterday, empower the Reserve Bank of Zimbabwe (RBZ) to arrest and fine people and businesses that continue charging for their goods and services in any currency other than the Zimdollar. Under the new regulations, the central bank can charge an extra fine of $100 per day for delays in payment of the $6 000 initial fine but when one defaults for more than 90 days, the person will be jailed. This comes as Government amended the Exchange Control Act to include provisions of Exclusive Use of the Zimbabwe Dollar Regulations, associated civil penalty orders as well as the schedule for enforcem
THE Reserve Bank of Zimbabwe (RBZ) will introduce new Zimbabwe notes in November this year, a development which is expected to end the long queues at the banks, a member of the RBZ’s Monetary Policy Committee has said. Eddie Cross told State-owned Zimbabwe Broadcasting Corporation (ZBC) that the RBZ will put the first notes of its reintroduced currency into circulation in November. Zimbabwe has been chronically short of paper cash, forcing most transactions onto electronic platforms such as mobile-money system Ecocash. “We have insufficient cash in the system to meet people’s needs for transactions,” Cross said. “The new notes should do away with the queues at the banks and people then should have adequate money for daily use.” Th
ZIMBABWE Stock Exchange (ZSE)-listed Cassava Smartech Zimbabwe Limited, a subsidiary of Strive Masiyiwa’s Econet Wireless, has threatened a complete shutdown of its EcoCash platform if the Reserve Bank of Zimbabwe (RBZ) insists on its ban on cash-in, cash-out transactions effected on Monday. The RBZ on Monday effectively put 50 000 EcoCash agents out of work after banning cash-in and cash-out services accusing them of “engaging in illegal activities”, including selling cash at a premium. The ban curiously came after Masiyiwa last week said the RBZ should take the blame for starving the market of cash, creating opportunities for arbitrage. The central bank has also banned the use of the cash-back service when customers pay with cards at point-of-sale machines, say
