NSSA fires manager
NSSA investment manager, Richard Fusire, has been fired for ill-advice which resulted in the multi-billion State-run pension entity financing a high-risk financial institution to the tune of US$6 million.
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NSSA investment manager, Richard Fusire, has been fired for ill-advice which resulted in the multi-billion State-run pension entity financing a high-risk financial institution to the tune of US$6 million.
Metbank is suing the National Social Security Authority (NSSA) and BDO Zimbabwe Chartered Accountants for $100 million in defamation damages for publishing an audit report that damages the reputation of the bank, but NSSA wants the High Court to strike out the defamation lawsuit on the grounds that it is vague and embarrassing.
The National Social Security Authority (NSSA) will defend the $100 million lawsuit recently filed by Metbank.
Metbank has filed a $100 million defamation claim against BDO Zimbabwe Chartered Accountants and the National Social Security Authority (NSSA) as damages over alleged false reports about the financial institution.
Metbank has expressed reservations about an article published in The Herald on Wednesday in which the bank is alleged to have received a writ of execution to attach property following a US$20 million ‘dispute’ with National Social Security Authority (NSSA) regarding Treasury Bills (TBs) investments, the Zim Morning Post has learnt.
NATIONAL Social Security Authority (NSSA) has obtained a writ to attach Metbank Limited’s property in a bid to recover US$20 million worth of Treasury Bills.
Metbank Limited has been ordered to pay back US$20 million worth of Treasury Bills (TBs) to the National Social Security Authority (NSSA) after the High Court ruled that the bank was holding on to what does not belong to it.
Metbank says it will continue to pursue a property development-centred strategy after adding $15 million to its investments in real estate during the half year to June, 2018.
At least four banks that took control of bread-maker, Lobel’s in September 2012 after pouring US$4,5 million to recapitalise the then ailing business are failing to find buyers to take over the business, the Financial Gazette reports.
Harare lawyer and businessman Mr Wilson Manase is demanding US$750 000 from Alpha Media Holdings, publishers of NewsDay, for alleged defamation over an article linking him to the Air Zimbabwe insurance scam.