In a stunning turn of events, ZANU-PF Chairman, Oppah Muchinguri, has disregarded the planned re-organisation of DCC structures in Manicaland which was meant to benefit new comer, Kuda Tagwirei. There is massive opposition to Tagwirei’s back door rise in ZANU-PF.
Under the plan, all DCC structures were to be re-organised and all those in support of Chiwenga were to be purged. However, Muchinguri has not done the re-organisation and is now under fire from the ED-2030 faction.
Please watch the video above this post for more details.
Key events for today
Opening Press Conference – 4th International Conference on Financing for Development FFD4 (Sevilla)
Trending stories
Brian Banda dies in car accident.
Business
1. Standard Bank Raises Executive Retirement Age to 63
Standard Bank Group announced on 27 June 2025 that it will increase the normal retirement age for its executives from 60 to 63 years, effective 1 January 2026. This adjustment aligns the bank with prevailing industry practices and reflects the evolving nature of executive leadership, where experience, continuity, and institutional knowledge are increasingly valued in driving long-term growth and innovation.
The change applies only to executives; all other employees’ retirement age remains at 63. By extending the executive retirement age, Standard Bank aims to attract, retain, and nurture top-tier talent in a highly competitive global and local market.
This move also acknowledges broader workforce trends, including longer, healthier working lives, and positions Standard Bank to maintain its leadership and meet ambitious financial and growth targets. Current CEO Sim Tshabalala, aged 57, will benefit from this extension, allowing him to continue leading the group beyond the previous retirement age.
Other major South African banks, such as Nedbank and Absa, have similarly set executive retirement ages at 63, underscoring a regional shift in leadership tenure norms.
2. Lesaka Technologies, Inc. is acquiring 100% of Bank Zero for approximately R1.1 billion (around $61 million), subject to regulatory approval. Bank Zero:
Founded in 2021 by seven investors including Michael Jordaan (former FNB CEO) and Yatin Narsai, Bank Zero operates a zero-fee, fully app-based digital banking model. Upon completion of the deal, these shareholders will collectively own approximately 12% of Lesaka Technologies.
Africa
1. Mercedes Benz East London shuts down production till end of July. This is due to the drop in exports to the USA after imposition of a 25% tariff on South Africa imports to the USA. Parts manufacturers are similarly impacted. This followsn the closure of the Nissan plant in Pretoria. (South Africa not able to create jobs).
2. Upcoming 5 July 2025: The Hollywoodbets Durban July 2025 horse racing and fashion event will feature a stellar South African music lineup including Mafikizolo, Lira, Hot Water, and GoodLuck, promising a spectacular entertainment showcase.
3. The exclusive Disney South Africa premiere for Marvel’s series ‘Ironheart’ was attended by a curated group of notable media personalities and influencers. Key attendees included:
Maps Maponyane
Lasizwe Dambuza
Kayise Ngqula
Mich Mazibuko
Yolanda Monyai
Tebogo Lerole
Priv Reddy
Guests arrived in tech-inspired outfits and experienced immersive elements like a mock-up garage similar to the one featured in the series before viewing the first two episodes.
2. RMH reports change in strategy.
3. UNISA has an unqualified audit opinion.
Community
Mve two for one UK promotion.
Mve promotion
https://x.com/Enrichedvibez/status/1939367227527999765
Notes
1. The ruling on the divorce of Vice President Constantine Chiwenga and his ex-wife Jocelyn in September 2014 exposed the immense wealth that the Chiwengas had accumulated throughout the years. The couple possessed the following:
—A property at 5 Rosary Close. Quinnington, Borrowdale measuring 5 701 square metres
—Four industrial units in Willowale, with each unit measuring 3 850 square metres
—A property at 614 Prince Drive in Borrowdale Brook measuring 4 817 square metres
—A property at 79 Follyjon Crescent measuring 4 955 square metres
—A house on a 1 692 square metres stand in Borrowdale Brook
—Stand 103 Shawasha Hills residential estate
—Kazungula Wildlife Safaris
—An apartment in Malaysia
—A house at Msasa Drive in Msasa Park.
—Stand 539 Borrowdale Brooke measuring ‘1455 square metres
—An industrial stand in Marondera
—A property at 34 Lytham Drive in Glen Lorne
—A vacant piece of land at Mermaids Pool, about 42 kilometres from Harare
—Motor vehicles, among them: a Prado, Jeep, Toyota Land Cruiser V8, Mercedes Benz C180, Land Rover Defender and a Land Rover Discovery 4
—Jewellery: Bracelets adorned with diamonds, gold rings set with diamonds, and four gold watches featuring 36-carat diamonds. Additionally, there were three gold chains with diamond pendants, a gold choker with a central diamond, and two gold bangles embellished with diamonds.
2. The Land Tenure Policy will allow farmers to access credit facilties, purchase inputs and hire labour, adding weight to wealth creation. This is meant to improve agricultural production and productivity, lifting our people from poverty into prosperity. The process will benefit all Zimbabweans leaving no.one and no place behind including students, War Veterans, women and the youth.
