#MondayBlues Business Current News

#MondayBlues: Zimbabwe Wastes Scarce Foreign Currency Printing Irrelevant Currency.

Zimbabwe in this highly inflationary environment has found it in its wisdom to print 60 tonnes of RTGS $10 and $20 notes, a highest denomination which is way below an average price of bread.

It does not take a professor to dictate that this currency in the next few months will not be worth of the paper its printed on as we are already in a hyper inflationary environment .

Financial experts have argued that a much more higher currency would have saved Zimbabweans and empowered them to acquire to basic commodities from the highest denomination, easing off pressure from the commercial banks .

“Printing lower denomination currency is only a self satisfying statement to project an image that Zimbabwe’s currency is strong yet the highest note printed to day can not buy a loaf of bread ” said an expert

This move however is feared to spiral inflation by many, but does not support the reasoning of printing money that we are not going to be using, yet we have already wasted the hard earned foreign currency.

Every currency that is introduced by a government must be done in posterity, so that the next generations may as well benefit, but this move seems to nothing much but a temporary move to ease pressure, just but for few weeks

Government last year printed millions of coins and two dollar notes which today are now irrelevant and useless as they have lost value to purchase even the smallest item in any market.

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#MondayBlues: Bail Ruling Today For NetOne Employees, Board Member.

The magistrate is set to pronounce his ruling on the bail application by 5 NetOne employees and one board member who were arrested for abuse of office.

In his statement the magistrate said the he needed time to compile the submissions before making his judgement for the three submitted records

State had opposed bail for the accused, jointly, stating that the candidates were potential flight risk and had a propensity to interfere with witness, while it stated that the accused had committed a serious crime.

State alleged that accused number two once threatened Susan Mutangadura with a text message that read:

Good evening to you and your family as you go up the NetOne ladder just remember the pain, agony stress financial instability and homelessness that you caused.

In defense the lawyers stated that none of the candidates was a flight risk since all of them had initially complied with the request to submit self to police or accompanied to the post, not considering that the boarders are already closed under the Covid lock down. The defense also argued that most of the employees were already suspended and it would not be logical to allege that they will interfere with state documents or witness, since the documents were already lodged with the police.

Defense also added that the alleged offense whether serious or not , does not take away a constitutional right for every Zimbabwean to be given bail, stating that many Zimbabweans who have committed serious crimes have many a times been granted bail.

The defense also argued and prayed that the charges be thrown away as NetOne employees are not public officers and can not be charged for contravening laws designated for public officers.

In defense the lawyers mentioned the case of Chikumba vs State of air Zimbabwe, which exonerated the accused the on the notion that Air Zimbabwe was wholly state owned but did not imply that the employees are public officers .

The prima facie of the three counts was based on the undertaking official use with out board or parent ministry approval.

The defense team presented board resolutions which empowered Mr Lazarus Muchenje to under take the stated activities as evidence to counter the allegations.

State however wanted the original documents of the resolution in their response .

The permanent secretary in the ministry of ICT Postal and Courier Services engineer Sam Kundishora witnessed on behalf of the ministry, while Susan Mutangadura was on behalf of the board .

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#MondayBlues: RBZ Calls Ecocash A Ponzi Scheme, Really?

The Reserve Bank Of Zimbabwe has responded to Ecocash urgent application with a very interesting twist, name calling it a Ponzi scheme as it alleges that Ecocash is not settling transactions in time, creating fake virtual currency.

If the  Reserve Bank was serious about this statement, we must have heard them speaking if cancelling licences from illegal player, not name calling a service provider, unless ofcourse they know the there is no basis. 

Ecocash had filed an urgent high court hearing against suspension of their mobile money agents from conducting financial transactions and restore full functionality.

This is a strong allegation and should it be proven , it has strong implications, however it goes without saying it boggles the mind who may have been funding such accounts with a vague “suspense account” to only settle days later.

The RBZ alleges :

“What the general public does not know is what happens in the interim. The funds that have not been credited to the vendor or the recipient are then available for trading on the Ecocash Platform in the foreign currency market. In effect, the delays allow a certain person, who was the subject matter of an investigation, to buy and sell foreign currency in the intervening period.”

Mangudya said investigations have established that there are some Ecocash agents who have an overdraft on their Ecocash accounts in excess of $39 million. This begs the question: “How can an entity or individual have an overdraft on an electronic payment platform such as Ecocash?”

This is a very interesting question asked by the central bank, but its rather selfish in its nature. The Reserve bank can not want to investigate a “technical fault” now but when millions complained over disappearing balances it never called the system a Ponzi scheme.

Why are they now ruling out chances that this could have been a simple issue of system challenges delaying to settle, the same way they have accepted the initial narrative when millions were saying their balances were not correctly reflecting.

The Reserve Bank of Zimbabwe recently closed 100 ecocash accounts for allegedly transacting not over the stipulated $100 000, driving the total monthy transactions to $75 million.

According to the law, its not illegal to transact up to the figure, the amounts of the transactions and the value can be curious but this does not make it illegal.

What is more interesting and rather illegal is the fact that Ecocash is said to be delaying to settle accounts of currency in circulation then settles later later days.

This could be tantamount to creating own currency.

Two questions.
Who are the beneficiaries of these funds, when they receive these funds, under what pretext are they receiving and who is the sender, claiming what source ?

But the fact that this money was or is already in the system must have been the real issue. How did we end up with $39 million being illegally circulated, if at all it was illegal, how was this money initially pumped into the Ecocash system because there is no currency without source.

when all is still said and done, t goes to that one problem that the reserve Bank is reluctant to fix.

Zimbabwe has a liquidity crisis, crated partly by the same Reserve bank when it looted real bank balances and introduced its own virtual currency called bond notes, when Zimbabweans had deposited USD into their accounts, they withdrew another currency which was purportedly backed by the Afreximbank.

We are yet to hear what really happened with the backing value, did they dishonor this since the bond notes were never announced not to have a backing anymore but were simply devalued.

The biggest problem however is how we rate the USD against this same surrogate currency. The RBZ has continued pegging this currency at lower rates, a sensible move to preserve debts value for corporate that borrowed in USD but still an impossible offer to anyone who wants to trade.

The problem always haunts us, why do we have a buying rate for the USD and yet business does not have a buying market of the same product?
This is the elephant in the room that the reserve bank must be tackling, not Ecocash.

Ecocash is not a currency but a medium to exchange payments, while most Zimbabweans have taken this same medium to be the currency itself, like USD is no longer a currency, but a form to preserve value when the local economy continues n a free fall.

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#MondayBlues: Telesnail Turnaround Pace at Telecel

If Telecel Zimbabwe’s progress was a technology, it certainly was 56k dial up technology, tele  dialing at snail pace to invent its new word termed by many Telesnail.

The giant of yester year and Zimbabwe’s most promising MNO has unfortunately been allowed to lay to rest, literally,  while it has aggressively fought for its  gasps of air, it seems  no one from the shareholders seem to notice or care, the auto pilot button has been hit  and the  captain jumped ship.

This is the sad state of Telecel!

And no one is taking  responsibility!

At one point in time, Telecel Zimbabwe was the fastest growing mobile network, quarter by quarter, Potraz recorded serious subscriber jump, it was the only real threat to Econet Wireless shaking up the market with  great innovation and bespoke  technology.

The red brand was sizzling hot and ready to take over the market, no one matched their creativity and product lines with robust network infrastructure.

To date they have a couple of 4g base stations in  Harare and few more in other  towns and cities. Those 3g base stattions that are still functioning, would be lucky if they are still in service as half the time they can not afford basic fuel to keep them running.

The investor has abandoned ship, expecting base station  capitalization and network remodeling to be done through sale of  airtime  juice cards.

Management under the same circumstances has been found wanting, making  it impossible to turn around the unit.

Netone has received more than  USD $600million yet Econet has invested more than a billion in the last 5years, but for Telecel a figure  shy below $50 million and one  wonders who really owns this company?

Why did the government buy an  asset they are not willing to invest in ?

What is Economic Cooperation doing to protect their own shareholding capital if at all they care about it .

If these two have surely failed to recapitalize the  vihecle what does it  take  to find a serious telecoms  investor to take over the  asset and bring  back life to the Mobile network.

The deafening  silence over Telecel Zimbabwe is a cause of  concern that actually demands the  President of the republic to intervene over and make statement or broker deals that  brings back the company to life before we lose more employment as the future has been gloomy and doomed.

But this is not a natural problem, it was man made, so it demands that its man fixed and move the  asset forward.

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#MondayBlues: The NetOne Nonsense Must Stop!

Zimbabweans  at large are sick and  tired of NetOne drama. The animosity, mudslinging and character assignation is real. Its like a kids play without any senior person to stamp foot and  bring  sanity.

Where is the line minister and office of the president and cabinet when all this is going on unabated?

By Toneo

Year in  year out, NetOne never misses  our headlines and we  are also sick and  tired of their drama, Ts which  has costed them millions in nothing but lawsuits, investigations and legal fees, a figure we are still to ascertain and  someone must account  for.

While  all this is happening , competition at  Econet is   progressing, declaring dividends and birthing independent stock exchange listed companies and of course Telecel is dying , and no one  seems to care, yet still  we need to give due attention to them.

NetOne  is one company which has been  highly investigated  more than any criminal gang in Zimbabwe, good names year in and  year out are  finally soiled, tainted and  destroyed and one  has to ask the  why  there is always unceasing  drama  at NetOne.

Who really is driving this perpetual animosity, whose interest is the  person serving and why must Zimbabweans continue to loose their asset?

Until we solve this question, Zimbabweans will continue to get sickened by these useless, petty and  personal  fights  at national  fora.

 Tech Talk members recently added their voice and  displeasure at the  unending drama and  ravaging  fires than  never  cease, demanding  fresh breath and proper corporate governance at the  state owned  mobile network.

Drama began  With  firing  of NetOne founding  CEO Reward Kangai, who today walks  free against a hp of charges that were laid against him, thee  same  happened  but quietly to the  acting CEO Mr Brian Mutandiro, though he  took a much silent exit, he never got to see the day where he was celebrated after driving positively towards NetOne  profitability, and Now on and off with Lazarus Muchenje, the man who has just refused to die, and ultimately never skips our headlines.

Are all these the worst CEOs we have  ever had in Zimbabwe, if at all they were that bad, why is there never an out of court settlement arrangement  for them, why are not seeing the board members, line ministries closing  doors and seal a deal that preserves the integrity of the  organization, and should the  CEO go, they do it  with much respect for the contributions they have  made.

This then  boggles the mind, there is a super power enjoying these  wars, benefiting from them , whichever  way, the person/s must be  identified, uprooted and  allow sanity to prevail at the state owned enterprises.

Zimbabweans own the entities, they are not private companies and no one  must behave as if they own them and they only go their  way goes  or no way!

We need real man and woman who in the next few days will stand up and  say no more to this nonsense and work towards the  growth of the  sector. 

#MondayBlues BreakingNews Current News Hot Stuff

#MondayBlues: Police Probing NetOne acting chairperson, Susan Mutangadura

Zimbabwe Republic Police CID serous frauds unit is currently investigating NetOne acting chairperson, Ms Susan Mutangadura, over suspected criminal abuse of office.

Susan Mutangadura is alleged to have appointed her suspected business acquaintance — a retired judge,Moses Chinhengo to preside over a disciplinary hearing of suspended CEO Lazarus Muchenje, yet she did not declare conflict of interest.

State argues that she did not at any given point declare to the board that she had a past relationship with the appointee.

The same retired judge is also the same arbitrator who presided over Muchenje when he was initially suspended as the CEO by the past board which was dismissed by former minister Kazembe Kazembe.

The appointment of the judge had already raised eyebrows given that Ms Mutangadura, the complainant against Mr Muchenje — who is on suspension facing various allegations, including incompetence — is a panellist at Africa Institute of Mediation and Arbitration (AIMA), a company founded by the judge (name supplied).

It, however, emerged last week that NetOne has filed an urgent chamber application seeking to bar investigators — who had obtained a search-and-seize order — from accessing relevant documents citing confidentiality.

It was not clear why NetOne is going all the way to file an urgent chamber at a time they could simply have simply supplied the investigators with information they had requested.

“It is very strange that in the same investigation, Susan Mutangadura is the accused yet NetOne has allowed her to be the company representative, at a point the board must have appointed someone else respond on its behalf” said a concerned source.

Speaking with the Herald, Ms Mutangadura said she could not comment over the matter

“Unfortunately, I cannot comment at the moment for professional reasons,” said Ms Mutangadura

Last week some investigators from the Criminal Investigations Department (Serious Frauds) launched a probe into potential abuse of office by Ms Mutangadura for appointing her “business associate”.

“The police got the order to search and seize relevant documents, which they needed for their investigations,” said a source, who requested not to be named because the matter is now under judicial consideration.

“However, NetOne made an urgent chamber application seeking to interdict the investigators from accessing the documents.”

Ms Mutangadura was authorised by the NetOne board to appoint a disciplinary hearing authority to preside over proceedings of cases involving Mr Muchenje and Mr Severa through a resolution dated February 20 2019.

She then used powers granted to her by the resolution to appoint the judge to preside over the hearing.

A notification letter addressed to Mr Muchenje in March announced the development.

It is believed that the appointment of the judge was in violation of Section 34 of the Public Entities and Governance Act, which states that where a board member or a senior staff member of a public entity knows or has any reason to believe that any of his or her public associates has acquired or holds direct or indirect pecuniary interests in any matter that is under the consideration by the board or that is or, to his or her knowledge, is likely to be the subject matter of a contract between the public entity and any other person, the board member or senior staff shall forthwith disclose to the entity’s board.

Ms Mutangadura took over from former board chairperson Mr James Mutizwa, who alongside two other directors resigned early February this year after allegedly being pressured to do.

Further, two other board members, including Dr Douglas Mamvura, are understood to be in the firing line.

JUSTICE Moses Chinhengo is one of Zimbabwe’s most respected judges who famously ruled against the then Information Minister Jonathan Moyo, called a Presidential proclamation illegal and even threatened to send the Registrar General Tobaiwa Mudede to jail

The former High Court judge, in 2017 approached the High Court seeking a decree of divorce against his wife, Josephine Judith Hatidani Chinhengo (nee Chatikobo) over irreconcilable marital disputes.

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#MondayBlues: Dark Fibre Africa Granted Licence in Zimbabwe.

Open-access fibre-connectivity provider DFA has become the
only telecommunications provider in 10 years to be granted an operating licence by the Postal and Telecommunication Regulatory Authority of Zimbabwe (POTRAZ) TechnoMag can report.

While the company is not entirely new in Zimbabwe, they have already been making inroads in to the Zimbabwean market, and the last time we spoke about them, they had spoken about a $60 million investment in to the market

The awarding of the Internet Access Provider Class B licence follows a successful launch and proof of concept phase for DFA’s Zimbabwe operations. The licence paves the way for fully fledged operations in the country and will allow DFA to build a nationwide network for the provision of licensed telecommunications services.

DFA Group CEO, Thinus Mulder, said he was pleased at DFA Zimbabwe’s progress.

‘From the beginning we have favoured a measured approach in our expansion to nations outside of South Africa. We believe in the potential of Zimbabwe’s telecommunications industry, and therefore, we
have identified it as a good place to invest in. The awarding of the licence further builds our confidence in this particular market,” he said.

Commenting on the newly granted license, Chief Executive Officer of DFA Zimbabwe, Mr. Simon Chimutsotso, expressed excitement about the premium open-access services DFA Zimbabwe is ready to offer to the market.

“We look forward to partnering with our targeted customer base to
enhance their efficiency and competitiveness. By fulfilling their physical fibre-networkinfrastructure requirements and taking on the maintenance responsibilities, we enable them to focus on their core business of providing excellent value-added telecommunication services to their

Chimutsotso added that DFA Zimbabwe had used the licensing period to deploy more resources towards understanding the market needs, building internal capabilities, and improving its business model to further enhance customers’ experience.

“We are ready to fulfil our promise to the ICT sector and help bring about new, innovative offerings to the market.

“We would like to thank our shareholders, POTRAZ, the Ministry of ICT, the Government of Zimbabwe, and all our key stakeholders for the unwavering support as we sought to realise our vision for Zimbabwe. It has been a long journey and we are excited on the new opportunities that lie


About DFA
DFA is a premium-quality open-access fibre-infrastructure and connectivity provider in Southern Africa. It finances, builds, installs, manages, and maintains a world-class fibre network to transmit metro and long-haul telecommunications traffic. It started rolling out its fibre network in South
Africa in 2007, and to date it as deployed over 13,000 km of ducting infrastructure in major South African metros, secondary cities, and smaller towns. It has also recently expanded operations into Zimbabwe. The network runs with an industry-leading uptime of 99.98%.

DFA leases its secure transmission and backbone fibre infrastructure and provides associated connectivity services to telecommunications operators, Internet service providers, media conglomerates, tertiary education institutions, municipalities, government organizations, and other businesses, large and small, on equal terms.

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# MondayBlues: Zimbabwe Consolidated Diamond Company (ZCDC) board resigns en masse

Zimbabwe Consolidated Diamond Company (ZCDC) board members have resigned en masse i protest against parent ministry decision and modus operandi

amongst other issues was government’s decision to grant mining licenses to foreign companies without consultation.

According to 263chat, the board, led by Engineer Ukama is allegedly livid that while Zimbabwe has lost billions in revenue from diamonds, government intends to partition Chiadzwa diamond fields to a coterie of companies according to impeccable sources privy to this development.
ZCDC’s Special Grant 6026 measuring 790 000 hectares has been subdivided by government into smaller concessions and parceled to government cronies for exploration. These little known mining entities have signed non-disclosure agreements with ZCDC.
Already Chinese firm Anjin Investments, jointly owned by Anhui Foreign Economic Construction Company Ltd of China and Matt Bronze, an investment vehicle controlled by the army is now operating in Marange independent of ZCDC.
Anjin controversially resumed operations in February this year in ZCDC’s rich Portal B concession following a directive from the Mines and Mining Development Minister Winston Chitando.
This protest resignation was not only against a unilateral decision by the Ministry on Anjin, which the source said signaled the beginning of ‘a scramble for Chiadzwa diamonds’, with twelve companies lining up to be awarded licenses.
“This resignation of the ZCDC board members over the parceling out of Portal B in Marange to Chinese Anjin, is only the tip of an iceberg of what is really transpiring in Chiadzwa.
“What we are seeing is another scramble for Marange as 12 companies who are already lined up, some of them purporting to be representing the community, but rest assured the top chefs are the ones behind them,” said the source.
Adding that, “They were going to sabotage ZCDC so that they justify bringing investors, the list has already been drawn up”
Eng. Ukama declined to comment on the board resignation, instead referred all questions to the Mines and Mining Development Ministry.
Other members of the board were Ellah Muchemwa, Elizabeth Nerwande Chibanda, Zenzo Nsimbi, Esau Chiadzwa, Alexander Mukwekwezeke and Niya Mtombeni.
“I cannot comment on that issue because the appointment of boards is the prerogative of the ministry through the minister,” Ukama said.
Mines and Mining Development Minister Winston Chitando did not respond to whether the resignation of the board relates to the awarding of mining concession to the Chinese firm as well as the secretive NDA agreements.
Chitando requested questions in writing which were forwarded to him but he had not responded.
The resignation of the ZCDC board seem to authenticate research findings by a local civic society organization Centre for Research and Development (CRD) which highlighted that there was political interference by government in the awarding of mining concessions to investors meant to partners ZCDC.
CRD director James Mupfumi questioned the logic behind awarding mining concessions to nonentities when ZCDC can directly link with credible investors to exploit diamonds in a transparent manner for the good of the country.

“Why government dishing out concessions to “middlemen” investors instead of linking ZCDC to renowned partners in diamond mining?” Mupfumi questioned.

Mupfumi said government has a constitutional obligation to follow due diligence processes such as ascertaining financial capacity of prospective investors and ensure that their beneficial ownership is publicly known to counter illicit financial flows whilst protecting environmental economic social cultural rights of citizens.
Parliament must not stand aloof always. It must summon investors to ascertain their capacity in diamond mining to avoid another diamond plunder by political elites,” Mupfumi said.
A Parliamentary Portfolio Committee on Mines chaired by the late Chindori Chininga in 2013 unearthed illicit dealings in Marange diamonds with companies linked to top politicians whose beneficial ownership could not be ascertained.
Successive Auditor General Reports also show obscure and opaque deals, secret transfer of shares as well as lot of unscrupulous business practices have led to dividend losses and nonpayment of royalties from Marange diamond mining.
At its peak in 2012, Zimbabwe produced 12m carats, but in 2018 production was low as 2.8m carats, while in 2019 the production dropped to 1.6m carats, with 2020 target of 3.2m carats almost impossible

#MondayBlues BreakingNews Current News

Harare Now Covered With CCTV, as ICT Ministry drives Safe City.

Greater parts of Harare Central Business District (CBD) is now currently covered with CCTV as government through the ministry of ICT Postal and Courier services drive the safe city initiatives.

While most skeptics have already hit a panic button suspecting the government to use the same technology to snoop against them and invade on their privacy, this same technology has been known to do more good than harm worldwide.

Speaking to the minister of ICT Postal and courier services, Hon Jenfan Muswere, he said that they are currently on a trial of the technology as Harare readies to embrace safe city.

“We are developing the safe city pilot project in line with the Smart Zimbabwe and the digital infrastructure master plan”

The Huawei safe city projects has been largely accepted by many African countries while they have also implemented it in main land China as well.

Safe City initiatives are the Huawei’s flagship public safety solution designed to provide local authorities with a wide range of modern products and rely on a series of Internet of Things (IoT) devices intended to improve policing efforts.

This writer has also once visited Huawei city, where i personally witnesssed amazing technology restoring security and safety of citizens against high crime rate.

As seen in the video above, this could also ease high crime rate and congestion issues, with past issues of commuter buses committing crime, speeding off from scenes endangering innocent citizens, these could have been easily captured and tracked their way out.

Their solutions would have been ideal as well in high crime areas like Johannesburg and will greatly improve towns like Harare to track and trace criminals.

These same cameras could be mounted or supported with facial recognition software that makes it easier to even track criminals after crimes were committed, or more importantly, in these covid19 epidemic , they could be used to help trace infections.

However in some African countries , Huawei faces controversy of a different nature, according to

The Chinese telecoms equipment giant, which reportedly built up to 70% of the continent’s 4G infrastructure, stands accused of selling technologies to potentially repressive governments as part of its “Safe City” initiative and in so doing helping to undermine human rights in these countries.

Huawei’s Safe City initiative undoubtedly threatens human rights in Uganda, including the right to peaceful assembly and association as the country prepares for [the] 2021 general elections,” said Dorothy Mukasa, CEO of Unwanted Witness, a Ugandan digital rights advocacy organization.

In August 2019, the Ugandan police force announced it had purchased facial recognition cameras from the company at a cost of $126 million as part of a ‘Safe City’ agreement.

“This is an extension of China’s surveillance apparatus into Uganda through [the] Ugandan Police force, an agency with a track record of brutalizing journalists and opposition politicians,” Mukasa added.

The Ethiopian government, where an internet shutdown in the Oromia region is nearing its fourth month, also has a ‘Safe City’ agreement with the company. The country has a long history of using sophisticated technologies acquired from private companies based in both China and the West as means of stifling dissent

The telecoms giant has however denied such allegations

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NetOne Board Member Accused Of Fake Doctrate

One of the remaining four NetOne board members has been accused of masquerading as a doctor, after fraudulently acquiring a doctorate from a bogus educational institution TechnoMag can reveal.

The NetOne director (name supplied) and founder of one of the most successful financial institutions in the country is said to have been a beneficiary of one Common Wealth university, which is well known for dishing out fake degrees to anyone desperate.

The London Graduate School aka Commonwealth University has been in the Zimbabwean media last year for offering many Zimbabweans an opportunity to have a fake doctorate in 2 days, leading to many publicly exposing the institution.

Amongst the top Zimbabweans who came out disapproving the lucrative blind offer were Jacob Mutisi an ICT engineer, Nigel Mugami of 263chat and yes the president of Zimbabwe’s opposition party advocate Nelson Chamisa.

Nelson Chamisa was quoted to have been asked to pay USD $3500 in exchange of the doctorate from the same institution.

The London Graduate School and Commonwealth University, operating from a London, United Kingdom, address cordially invited this writer to “participate in a life changing seminar at Dubai” at which an honorary doctorate from Commonwealth University would also be conferred.

The honorary doctorate would be conferred on the last day of a three-day “loaded value-adding workshop” at the swanky Arabian Courtyard Hotel and Spa in Dubai, United Arab Emirates (UAE)

“However, this did not stop Zimbabwe Tourism Authority (ZTA) CEO Karikoga Kaseke from accepting the “honour”, he is now called Dr Kaseke.

Kaseke’s “achievements” were splashed in the mainstream media and congratulatory advertisements were flighted in major newspapers” qouted the standard newspaper.

The same may have happened to this NetOne director, as he proudly posts on his Linkdin account an honorary degree projected as an academic achievement.

When TechnoMag reached out to the NetOne director , he confirmed that he indeed is a recipient of the degree, but rubbished speculation that he may have paid his way up to the world of doctorates.

“Im indeed a bonified beneficiary I studied a Doctorate in Business Administration (DBA) from the Commonwealth University, this is a qualification i indeed earned, ” responded the NetOne director.

Asked whether he has any masters or theses he had done before the doctorate, the NetOne director responded that he studied his masters in South Africa where he achieved an MBA with Natal university in the year 2000.

We have however asked the director to substantiate the claims with any proof that he indeed is a bonified and honarable doctor, a move he is yet to prove .

We will certainly come back with an update , this time with full names and details if he exonerates self from the allegations or fails to do so sufficiently.