The document discusses how displaced diamond mining companies in Zimbabwe still owe former employees salaries ranging from six to 14 months, despite the companies still being operational at the time and producing diamonds. The mining union representative reported many issues of unpaid salaries and discrepancies in pay between companies. The failure of the companies to pay salaries while operational could indicate financial issues or misappropriation of funds.
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Displaced diamond firms in salary arrears
1. By Tawanda Musarurwa
HARARE – Diamond mining
companies that were chucked
out of the Marange diamond
fields still owe their for-
mer employees salaries for
between six and 14 months,
the Zimbabwe Diamond Min-
ers Workers Union (ZDMWU)
has said.
Earlier in February, Govern-
ment removed all the dia-
mond firms operating in the
Marange Fields after they all
failed to renew their Special
Grants, paving the way for
the commencement of oper-
ations of the wholly-State
owned Zimbabwe Consol-
idated Diamond Company
(ZCDC). But according to ZDMWU
general-secretary Mr Justice
Chinhema told the Parlia-
mentary Portfolio Committee
on Youth, Indigenisation and
Economic Empowerment that
these arrears were accrued
while the companies were
still in operation.
“We have witnessed a lot of
abuse of employees because
most companies at Marange
are in salary arrears of
at least six months....The
employees were going to
work and production was
moving and diamonds being
shipped but no money was
available to pay salaries,”
said Mr Chinhema.
The failure by the diamond
firms to pay salaries while
still in operation could per-
haps point to their increasing
non-viability, or misappro-
priation of monies that were
News Update as @ 1530 hours, Thursday 14 April 2016
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Displaced diamond firms in salary arrears
2. then being generated by the
firms.
One of the issues that irked
Government prior to their
shutdown was their waning
contributions to the State.
Official figures from the
Ministry of Mines and Min-
ing Development show that
benefits from the diamond
sector have been declining
gradually since 2011. That
year, Government received
payments from the diamond
firms amounting to $168,5
million, which declined to
$142,4 million in 2012 and
$93,2 million in 2013.
And by 2014 payments to
Government had declined to
$84,3 million, which further
declined to $23,4 million last
year.
Mr Chinhema also told the
committee that between
the diamond mining firms
themselves, there were huge
salary discrepancies even for
the same jobs.
“It is a proven fact that
despite operating in the
same environment, meeting
same costs and mining the
same minerals, workers from
different companies doing
the same job were paid dif-
ferently.
“For example, a lowest
grade employee in Grade 1
at Mbada was getting $300
while the other one from
Anjin was getting $180, and
also a dump truck operator
at Mbada was getting $999,
while the one from Anjin
was getting $537,” said Mr
Chinhema.
The now defunct diamond
firms that previously oper-
ated in Marange as joint
venture companies with the
Zimbabwe Mining Devel-
opment Company (ZMDC)
included: Anjin, DMC, Jinan,
Mbada, DTZ-OZGEO, RERA,
Gye-Nyame, Kusena and
Marange Resources.
The ZDMWU general secre-
tary also claimed casualis-
ation of employment at all
the diamond mining firms at
the time.
“All the employees then
employed at Marange in
all the six companies were
engaged on fixed term con-
tracts of employment....The
fixed term contracts were not
reflective of the Geological
Surveys which under normal
circumstances would under-
standably guide the nature
and duration of the contracts
of employment acceptable for
the industry.
“Fixed term employees were
being terminated willy-nilly
because the fixed term con-
tract are regarded as flexible
economically,” he said.
Mr Chinhema said Mbada, for
example, fired 3 000 workers
since January 2014 until its
operations were halted.
. ●
2 news
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5. BH24 Reporter
HARARE - Listed beverages
producer, Delta Corporation
recorded declined volumes and
revenues for the fourth quarter
ended March 31, 2016, which also
marked the end of its full year.
The group's revenue was down
6 percent for the quarter and also
slid 7 percent for the full year,
reflecting changes in the portfolio
mix and price moderations during
the year.`
Lager beer volume was 12 percent
below prior year for the quarter
and down 8 percent for the full
year.
Management attributed the dip to
low demand and an increase in
cheap prodcts from the region.
"The group’s volume and revenue
performance largely mirrors the
subdued economicactivity during
the period.
"There is some infiltration of
product from adjacent markets
due to the weaker regional cur-
rencies. Consumers continue to
shift towards affordable brands,"
said Delta.
On a slightly positive note, spar-
kling beverages volume rose by
6 percent above prior year for
the quarter, but it declined by 6
percent for the full year.
The Alternative beverages
volume (Maheu and dairy mix
beverages) grew 9 percent for the
quarter compared to prior year,
and was 2 percent down for the
full year.
The sorghum beer volume is 15
percent up on prior year for the
quarter and down 3 percent for
the full year.
The current growth is partly due
to the favourable pricing on the
standard Chibuku offering and the
improved availability of Chibuku
Super.
Going forward, Delta said it will
"continue to review the competi-
tiveness of its offerings."●
Delta's FY revenue slides 7pc
5 news
6. By Funny Hudzerema
HARARE - The use of mobile
money transfer can be the solu-
tion to financial cash crisis the
country is experiencing at the
moment and has the capacity to
assist Government in harnessing
foreign currency remittances a
senior mobile analyst has said.
Senior mobile analyst at money
transfer service WorldRemit Ms
Alix Murphy said with the current
money shortages in the banks
mobile money transfer are still
growing through money sent from
other countries by relatives to
their families.
“As the largest sender of remit-
tances to mobile money wallets in
Zimbabwe, we have witnessed the
continued growth of people trans-
ferring money from overseas into
Mobile Money accounts. The vast
majorities of our transfers now go
to EcoCash accounts, as opposed
to cash pickup or bank deposit.
“Around $1 billion is sent back
to the country every year by
Zimbabweans living abroad and
increasingly that is going directly
to people's phones,” she said.
She added that they have seen
a spike in mobile money trans-
fers, indicating that members of
the diaspora were being quite
savvy in recognising the bene-
fits of sending money directly to
their loved ones’ mobile money
accounts.
Zimbabwe is one of the most suc-
cessful countries in Africa when
it comes to mobile money usage
on a per-capita basis. Around 7,3
million mobile money accounts
representing more than 80 per-
cent of the adult population put
Zimbabwe on par with countries
like Kenya and Uganda – some of
the biggest Mobile Money coun-
tries in the world.
“One reason why telecommunica-
tions companies have been able
to drive such successful uptake of
mobile money in Zimbabwe and
other countries is that their agent
networks can reach people in
areas where banks have tradition-
ally been unable to go.
“It’s not always cost effective for
banks to build branches out in
rural areas or to provide financial
services to customers with low or
informal incomes,” she said.
Through WorldRemit Zimbabwe-
ans abroad send several tens of
thousands of transfers to Zimba-
bwe every month with the vast
majority of customers choosing
to send their transfers to mobile
money accounts.●
Mobile money a solution to Zim cash crisis, says WorldRemit
6 news
9. BH24 Reporter
HARARE -Securico Security
Services (Pvt) Ltd has devel-
oped technology that curb
fire outbreaks.
The technology involves
early detection coupled with
simultaneous notification of
the fire brigade. The system
ensures that residential and
commercial properties are
directly linked to the Harare
Fire Department for swift
assistance in case of a fire.
Securico business develop-
ment manager Ms Kudak-
washe Makuzwa said this
innovative solution was
necessitated by the alarming
levels of fire outbreaks in
both commercial and domes-
tic premises.
“While security against theft
and fraud is a major security
concern in Zimbabwe, fire
nevertheless is now a major
risk to both households and
business.
“Due to constant power cuts
and as seen with recent
events, fire risk in Zimbabwe
has increased so we decided
to come up with a solution
that can aid the public and
prevent losses of life and
property.”
She added that the system
has been in use for more
than a year under piloting,
with some major local cor-
porate now having adopted
it in order to safeguard their
property against fire.
In terms of how the system
works, a radio transmitter to
an existing or new fire alarm
is installed at the premises
to be protected. Once the
sensors dictate heat and
smoke, the system instantly
sends a notification to the
fire brigade that there is a
fire, enabling the fire depart-
ment to act within minutes of
the fire starting.
Securico managing direc-
tor Ms Divine Ndhlukula
added:“It is important for
companies to develop fire
escape plans and carry out
mock fire drills regularly with
all employees. Fire quickly
produces smoke and com-
plete darkness. Employees
may be blinded, disoriented,
and unable to find their way
out but having ready-made
and practiced routines will
save lives.
”Statistics clearly note that
electrical faults and negli-
gence have been the leading
causes of fire within Zimba-
bwe.
“With building regulations
not being adhered in some
instances, resulting in sub-
standard electrical wiring,
there is need for companies
to seriously evaluate fire risk
in the workplace of which the
consequences can be devas-
tating for a business.”●
9 news
Securico develops fire detection technology
10. BH24 Reporter
HARARE - FBC bank has
moved to reduce its clients’
dependence on cash in view
of the current cash shortages
by introducing electronic
payment systems for numer-
ous services.
In this respect, FBC Bank has
partnered with a number of
organisations and telecom-
munications companies which
include IMAS, Safeguard
Alarms, Barbour’s, Meikles
,Telecel ,Telone, City of
Harare, Zesa, DSTV, Econet,
Netone, Truworths and Topics
among others.
In a statement FBC said the
move is in line with financial
crisis which banks are expe-
riencing and it will allow cus-
tomers to get their required
services without having to
access hard cash.
“We would like to remind
you of the many benefits
associated with using our
e-channels to transact. You
do not necessarily have to
get cash each time you want
to transact.
“Our electronic channels
offer efficient and cost
effective ways of transferring
your funds from one account
to another within FBC or to
other accounts with other
banks,” the bank said.
The bank also said that peo-
ple can transfer money to
a non-account holder using
mobile moola the bank’s
USSD and web mobile appli-
cation.
“We have also partnered with
various utility companies
and billers to enable you
to pay your bills using your
mobile or internet banking
in the comfort of your home
or office at a time of your
choice,” added the bank.
Currently banks are facing
challenges in dispensing cash
due low circulation of money
in the economy.●
10 news
FBC Bank boosts electronic payments to ease cash crisis
11. HARARE -The mainstream
industrial index bounced
back after yesterday’s blip,
adding 0.30 (or 0,31 per-
cent) to close at 98.31 in
trades dominated by gainers
only.
Hippo added $0,0251 to
trade at $0,2261, while
giant insurer Old Mutual
rose by $0,0050 to $2,2300
while beverages giant Delta
recovered $0,0021 to settle
at $0,5733.
Simbisa traded higher at
$0,1255 after a $0,0005
gain.
No counter traded in the
red.
The mining index was steady
at 20.16 as Bindura, Fal-
gold, Hwange and RioZim
maintained previous price
levels at $0,0102, $0,0050,
$0,0300 and $0,1100 respec-
tively - BH24 Reporter ●
ZSE11
Industrials bounce back
13. 13 DIARY OF EVENTS
The black arrow indicate level of load shedding across the country.
POWER GENERATION STATS
Gen Station
14 April 2016
Energy
(Megawatts)
Hwange 460 MW
Kariba 470 MW
Harare 30 MW
Munyati 13 MW
Bulawayo 0 MW
Imports 0 - 400 MW
Total 1309 MW
• 26th April 2016 - The Fifty-Sixth Annual General Meeting of the shareholders of British American Tobacco Zimbabwe (Hold-
ings) Limited; Place: British American Tobacco Zimbabwe Offices, 1 Manchester Road, Southerton, Harare; Time: 10.00 hours...
• 05 May 2016 - Barclays Bank of Zimbabwe AGM; Place: Meikles Mirabelle Room; Time: 1500hrs
THE BH24 DIARY
14. LAGOS-The Africa Rising
narrative is holding strong
in the continent’s hospitality
sector, particularly in Nigeria
and Angola, despite the con-
traction in these economies
due to the lower oil price.
Global and domestic hotel
chains have ramped up their
investment in the sector,
with more than 64 000 rooms
in the development pipeline
this year, according to an
industry survey compiled by
the Lagos-based W Hospital-
ity Group.
This is 30 percent higher
than development activity
last year and more than dou-
ble the development pipeline
in 2009.
"Africa is still on the up,"
Matthew Weihs, the MD of
conference organiser Bench
Events, said on Monday.
"For business, trade, and
capital investment, the con-
tinent remains an attractive
proposition, leading to con-
tinuing demand for accom-
modation and other hospital-
ity services," Mr Weihs said.
Nigeria has the highest num-
ber of hotels in the devel-
opment pipeline this year,
followed by Angola.
Together, the two countries
account for almost 30 per-
cent of the total pipeline.
The high level of hotel
investment in the two West
African countries comes amid
dwindling economic expan-
sion due to plunging govern-
ment revenues as a result of
the weak oil price. SA occu-
pies ninth spot in terms of
planned hotel development
on the continent, with about
2,058 rooms across 11 hotels
in the pipeline.
City Lodge Hotels said it was
constructing a 169-room
hotel in Nairobi, scheduled
to be opened in the second
quarter of next year.
Andrew Widegger, finan-
cial director of the hotel-
ier, whose primary client is
the business traveller, said
construction of the group’s
hotels in Dar es Salaam,
Maputo, and Windhoek was
expected to begin during this
quarter.
Sun International, SA’s
second-largest listed hotel
and gaming group by market
value, said it was developing
a casino property in Menlyn,
Tshwane, to house a 245-
room, five-star hotel.
Despite the promising num-
bers for hotel development,
W Hospitality Group MD
Trevor Ward cautioned on the
number of hotel deals that
had been signed but not yet
opened.
More than 30 percent of the
hotel deals signed between
2009 and 2013 have still not
been opened, mainly due to
the lack of finance.-BDLive●
regioNAL News14
Number of new hotel developments across Africa surges
15. SINGAPORE-Oil prices fell
today as OPEC warned of
slowing demand and Russia
hinted that there might only
be a loose agreement with
little commitments at the
upcoming exporter meeting
to rein in ballooning over-
supply.
Meanwhile, Goldman Sachs
said that productivity gains
by US shale producers were
keeping alive its "deflation-
ary outlook" for oil prices as
drillers manage to adjust to
lower prices, and with con-
fidence in the recent price
rally fading, traders have
positioned themselves for
further price falls.
Brent crude futures LCOc1
were at $43,59 a barrel at
0642 GMT, down 59 cents, or
1,35 percent from their last
close. US crude CLc1 was
down 1,55 percent at $41,10
a barrel.
Russian oil minister Alexan-
der Novak told a briefing that
a deal on an output freeze
scheduled this weekend will
be loosely-framed with few
detailed commitments.
"The agreement will not be
very rigidly formulated, it is
more of a gentlemen's agree-
ment," one of those present
said, paraphrasing Novak's
words at the gathering.
Another person present said:
"there is no plan to sign
binding documents."
This would make it unlikely
that the meeting by export-
ers in Qatar on Sunday will
rein in production of around
2 million barrels per day
(bpd) of crude in excess of
demand.
"We think any agreement
actually sets up bearish cata-
lysts for the months ahead,"
said Morgan Stanley.
With the likelihood of a bind-
ing freeze by the Organisa-
tion of the Petroleum Export-
ing Countries (OPEC) and
Russia fading, analysts will
look to the US oil industry
to see if lower drilling will
result in falling production.
Here too, the outlook is for
production to remain higher
than many expected.
"Shale productivity gains
remain a key driver of our
long-term deflationary
outlook for oil prices," said
Goldman Sachs.
"Our analysis of shale pro-
ductivity ... (is) broadly in
line with our expectations
for 3 percent to 10 percent
(year-on-year) increases," it
added.
With no end in sight to
the supply glut, much will
depend on demand to deter-
mine the size of the market's
oversupply.
While demand has been
strong, OPEC on Wednes-
day cut its 2016 forecast for
global growth and warned of
further reductions.
World demand will grow by
1.20 million bpd in 2016,
OPEC said in its monthly
report, 50,000 bpd less than
expected previously.
"Economic developments
in Latin America and China
are of concern ... Current
negative factors seem to
outweigh positive ones and
possibly imply downward
revisions in oil demand
growth."
Morgan Stanley pointed to
several bearish risks for oil,
including "significant sell-
ing pressure from producer
hedging if prices rise... (and)
reemerging macro head-
winds."
The bank said it was "bear-
ish oil prices into 2H16"
and that "sustaining a price
above $45 WTI in the front
will be difficult... into 2017."
-Reuters●
internatioNAL News15
Oil falls as dark clouds appear ahead of producer meeting
16. By Meir Brand
Africa's digital revolution
has been a long time in the
making. For the past decade,
internet usage has lagged
significantly behind most
other parts of the world.
And most online activity and
infrastructure has been con-
centrated in just a few coun-
tries — SA, Kenya, the North
African countries of Morocco
and Egypt, and the smaller
economies of Mauritius and
Seychelles.
Fast forward to this year. The
number of Africans online, 29
percent, is still low compared
with the global average of 46
percent.
But Africa is going digital,
and fast, with almost half a
billion Africans expected to
be online by 2020.
More Africans online means
more opportunities for Afri-
can businesses and digital
entrepreneurs; and, if nur-
tured right, a growth engine
for economies across the
continent.
Many young Africans are suc-
ceeding in the internet econ-
omy today. People like Segun
Abodunrin from Lagos.
Eighteen months ago, Abo-
dunrin attended a training
programme to help young
Nigerians get a better grasp
of digital skills.
He learnt the fundamen-
tals of how to establish and
promote yourself online, and
used this knowledge to set
up Tway Media, an agency
that provides online services
and support to small and
medium-sized businesses.
In just a few months, Abo-
dunrin has worked with more
than 1 000 entrepreneurs
and businesses, helping them
to use the web to grow.
Abodunrin is one of many
people in Africa who are
using web tools to build new
businesses or grow existing
ones.
But digital skills are still
underdeveloped and the
knowledge gap threatens to
hold back the potential of
Africa’s digital economies.
Many education systems in
Africa are ill-equipped to
provide young people with
the key skills they need
to take advantage of the
fast-developing African digi-
tal economy. And in teacher
education, digital skills train-
ing rarely features.
To help close this knowledge
gap, we are pledging to train
1-million young people in
Africa in digital skills in the
next year.
We’re supporting our partner,
Livity Africa, to give digi-
tal skills training to young
people looking to develop a
digital career.
And we’re launching digifya-
frica.com — an online-learn-
ing portal that will house
a range of digital skills
courses, available to anyone
in Africa. The courses are
designed to be as "light" as
possible so they don’t eat up
valuable data.
We believe that more needs
to be done to empower
people in Africa to succeed
in the digital world, and
we want to help make that
happen.
Sixty-percent of unemployed
people in Africa are between
the ages of 18 and 35, so
developing digital entrepre-
neurship and creating new
job opportunities for young
people is critical to Africa’s
transformative growth.
We’re committed to helping
Africans make the most of
the digital revolution. This is
for everyone. - BDLive
• Brand is MD of Google
Europe, the Middle East and
Africa (EMEA) emerging mar-
kets●
16 analysis16 analysis
Has Africa’s digital revolution started, at last?