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RTG arrivals flat – NewsDay

BY TAURAI MANGUDHLA
ZIMBABWE Stock Exchange-listed hospitality chain, Rainbow Tourism Group (RTG) says occupancy levels across its hotels were flat during the nine months to September 30.

In a trading update, the firm said COVID-19-induced travel restrictions continued to dictate developments in the sector.

Tourism industry players are among the worst affected by the pandemic, which have forced governments to apply restrictions on travel.

RTG said occupancies for its hotels closed at 24% during the period, compared to 23% last year.

“The tightened level four lockdown restrictions in July and August affected business operations during the third quarter,” RTG said.

During this period, restrictions on intercity travel and gatherings affected the business, particularly conferencing activities on the domestic market.

This, said RTG, is in contrast to the second quarter which experienced better business volumes due to the near-to-normal trading conditions under level two lockdown.

Despite the setback, the group generally witnessed a surge in volumes during the third quarter compared to the same period in 2020.

The group’s Gateway Stream division witnessed a surge in volumes on its various channels during the quarter compared to all other quarters in the year with business volumes growing 55% above the comparative quarter in 2020.

The Gateway Stream performance was anchored on Gateway Stream rooms, selling hotel rooms not owned by RTG which were equivalent to 30% of the total RTG hotel rooms sold during the third quarter while other channels such as groceries, music and hardware continued growing.

RTG said it continued to navigate the current realities thrust upon the operating environment by the COVID-19 pandemic.

“At the same time the group also said a focus on costs as complemented by speed in exploiting emerging revenue opportunities enabled the company to register strong performance in the quarter.

“The group managed to access foreign currency through the auction system thereby easing the burden on some of its foreign currency requirements,” RTG said.

Going forward, RTG remains optimistic about prospects of the tourism industry in the short to medium term.

This is despite warnings of a possible fourth wave.

The group said the stability in the operating environment was a positive development, expected to translate to increased activities.

“The performance post the relaxation of the lockdown measures has positioned the group on a recovery trajectory. International airlines such as British Airways have resumed flights to Victoria falls with Qatar Airways coming to Harare for the first time. These developments should see growth in activity in Victoria Falls destination,” RTG said.

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Covid LIVE: Indias third confirmed Omicron case is from Gujarat – Business Standard

Amid growing concerns over the new Omicron variant of SARS-CoV-2, a parliamentary committee has recommended that the efficacy of (Covid-19) vaccines must be evaluated and concerns with regards to the new strain developing immunoescape mechanism critically addressed.
Prime Minister is to kickstart the poll campaign for the upcoming by addressing a rally in Dehradun on Saturday. The Prime Minister will reach Dehradun’s Parade Ground, the rally venue at 12.30 pm, Pradesh BJP general secretary Kuldip Kumar said. Soon after his arrival, he will inaugurate seven developmental projects and lay foundation stones of 11 others, all totalling worth over Rs 18,000 crore after which he will start his address around 1 pm.
A crucial meeting of the Samyukta Kisan Morcha (SKM) will be held at the Singhu border on Saturday to decide on the future course of the agitation. Farmer leaders said any decision on whether to send five names to the Centre for a panel on will be taken in the meeting as they have not yet received any formal communication from the government.

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Breaking news: India’s 3rd Omicron case is Gujarat man who recently returned from Zimbabwe, reports ANI – Hindustan Times

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Breaking news: India’s 3rd Omicron case is Gujarat man who recently returned from Zimbabwe, reports ANI

  • Breaking news updates December 4, 2021: Get latest news, breaking news, latest updates, live news, top headlines, breaking business news and top news of the hour.

Get latest news, breaking news, latest updates, live news, top headlines, breaking business news and top news of the hour.
Get latest news, breaking news, latest updates, live news, top headlines, breaking business news and top news of the hour.
Updated on Dec 04, 2021 03:52 PM IST

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Kadoma Housing Saga: Court Declares Couple's Company 'Non-Existent' – New Zimbabwe.com

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By James Muonwa, Mashonaland West Correspondent


THE Supreme Court has upheld the High Court’s decision declaring Balwearie Holdings registered under company number 45/77 as non-existent following its dissolution.

The dissolved entity’s directors Zane Patrick Heyns and Elizabeth Heyns were holding onto the name, thereby disturbing the legitimate business operations of bona-fide Balwearie Holdings, who are the directors of Sabonabona housing development project in Kadoma.

The Heyns forged CR14 documents misrepresenting they were directors of Balwearie Holdings in a bid to have locus standi, but the documents were discovered to be fraudulent.

The led to the arrest on fraud charges of Phillip Danga of Philjoy Secretarial Services who drafted them.

Danga’s matter is still pending at the magistrates’ court.

Based on the misrepresentation, the Heyns attempted to evict scores of property owners from the 97 hectare Kadoma property, a move which, however, hit a snag.

The Supreme Court bench comprising of Justice Chinembiri Bhunu, Justice Hlekani Mwayera, and Justice George Chiweshe has upheld two decisions of the High Court, firstly confirming the order issued by Justice Edith Mushore on July 8 last year declaring Balwearie Holdings registered under company number 1898/20 as the legitimate entity, while declaring that Balwearie Holdings under company number 45/77 was dissolved.

The Supreme Court also upheld the High Court judgment by Justice Emilia Muchawa which ruled that Balwearie Holdings company number 45/77 can not sue or be sued as it is a dissolved entity.

In summary, the bench has recognised Balwearie Holdings (1898/20) as the only legitimate Balwearie Holdings in existence.

On the other hand, the Chief Registrar of companies Martha Chakanyuka confirmed through an affidavit that their index reflects that Balwearie Holdings (45/77) is dissolved.

The Supreme Court’s decision puts to rest doubts members of the public had around the legitimacy of Balwearie Holdings (1898/20) who are the genuine property managers of Sabonabona housing project.

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