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Zimbabwe Central Bank freezes accounts of Mugabe allies

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Zimbabwe’s Central Bank has ordered that bank accounts of two top Mugabe allies be frozen.

In a directive sent to the country’s financial institutions, the bank ordered that all accounts of ministers Jonathan Moyo and Savious Kasukuwere are identified and frozen.

The two ministers were influential members of the G-40 faction within the ZANU-PF that backed former first lady Grace Mugabe to replace her husband as president. The faction is accused of taking advantage of the president’s advanced age to engqge in criminal activities.

Following last month’s military takeover, the two ministers; Moyo of Higher, Tertiary Education and Technology Development and Kasukuwere of Local Government, Public Works and National Housing fled the country and there whereabouts are unkown since.

But Moyo tweeted that the directive spells doom for ordinary people and businesses, arguing that the accounts had been frozen without following due process.

Zimbabwe’s new government led by Emmerson Mnangagwa is working to revive the economy by stemming graft and wooing back investors. The president last month issued a three month for the return of funds siphoned out of the country by individuals and corporations.

Business

Absa became the new competitor on the Ethiopia market.

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Absa Bank Of South Africa’s  has become the Latest Multinational Corporation to show Interest in Organizing the Ethiopia market.

Ethiopia has since Prevented Foreign Ownership in Economic Sectors that Includes Banking but Abiy Ahmed has began to take fast Action on the issue since he came to power in April.



Jason Quinn, the bank’s chief financial officer, told reporters that Absa was investigating on how and where to enter in a number of populating market, including Nigeria and Angola.

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Am Entrance made into the Ethiopia market of 100 million People, would be part of a Scheme made by Absa after it break from Britain’s Barclays in 2017.

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Ethiopia has plans to liberalise state-owned companies including Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power, in order to attract foreign direct investment and stimulate growth.

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Motherland News

Black box of the Ethiopian Airline Crash recovered.

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The United Nations described the Sunday crash of the Ethiopia airline as disastrous saying it has cost them a great loss.



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Michael Moller, director-general of the U.N. European head garters said this was the worst loss suffered in years in Geneva in a statement where 150 people where gathered.

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Investigators in Ethiopia have recovered the black box from the ill-fated Ethiopian airline this Sunday.

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