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FreeZim Congress leader <a href="https://pindula.co.zw/Joseph_Busha">Joseph Busha</a> has said the US$20 000 nomination fee for presidential candidates set by the Zimbabwe Electoral Commission (ZEC) should be increased to US$50 000 so that only people who are serious will run for the presidency, reported <a href="https://www.newsday.co.zw/local-news/article/200012769/us20k-nomination-fee-too-little-freezim-congress">NewsDay</a>.
ZEC pegged fees for presidential candidates at US$20 000 per head and US$1 000 for aspiring MPs ahead of the 23 August harmonised elections.
Speaking during the launch of his presidential bid in Harare on Monday, 12 June, Busha said:
<blockquote>
We don’t want people who want to play with Zimbabweans. Leaders pay all the time for the presidential candidate.
I think we should pay more because we do not want a bloated ballot (paper).
The US$20 000 is little and we need something like US$50 000 so that serious people contest the presidential elections.
</blockquote>
Busha, however, said nomination fees for parliamentary and local government candidates are too high and should be reduced.
The Constitutional Court (ConCourt) on Friday ruled against ZEC’s nomination fees following an application by Devine Mhambi Hove, leader of the opposition National Alliance of Patriotic and Democratic Republicans (NPDR).
Mhambi argued that the fees were too high and contravened provisions of the national Constitution.
The ConCourt gave Parliament seven days to review the fees.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Pindula News

FreeZim Congress Leader Wants Nomination Fee Raised To US$50 000

A Zimbabwean presidential aspirant has had his license withdrawn over an R200 million loan granted to Malawian preacher Shepherd Bushiri, according to <a href="https://www.iol.co.za/sundayindependent/news/zim-presidential-hopeful-loses-financial-services-license-over-r200m-bushiri-loan-a681555d-02d7-4721-a14c-161db1db9244">Sunday Independent</a>.
The South African Financial Sector Conduct Authority (FSCA) withdrew <a href="https://www.pindula.co.zw/Joseph_Busha">Joseph Makamba Busha</a>’s JM Busha Asset Managers’ licence as a registered financial service provider (FSP) in April last year.
JM Busha Asset Managers’ attempt to challenge the FSCA’s ruling at its Financial Services Tribunal was unsuccessful as it was dismissed on September 14, according to the tribunal’s written decision.
According to the FSCA, JM Busha Asset Managers invested its clients’ money in Inyatsi Construction Group Holdings (R150m), Shepherd Bushiri investments (R200m) and SME Bank of Namibia (R60m).
JM Busha Asset Managers has indicated that it has recovered the R150m invested in Inyatsi and has initiated steps to recoup the other outstanding amounts from Shepherd Bushiri investments and SME Bank.
<h2>What transpired:</h2>
in 2017, Shepherd Bushiri Investments received an R200m loan from JM Busha Investment Group to renovate the Enlightened Christian Gathering Church head’s luxury Sparkling Waters Hotel and Spa in Rustenburg in the North West.
JM Busha Asset Managers was found by the FSCA to have breached its mandate.
When <a href="https://news.pindula.co.zw/2020/10/21/the-hawks-arrest-bushiri-and-his-wife/">Bushiri was arrested for fraud and money laundering in October 2020</a>, Busha called the preacher to enquire about the non-payment, and the Malawian pastor promised to make payment in full within a week. 
  
However, before the end of that week, the <a href="https://news.pindula.co.zw/2020/11/14/shepherd-bushiri-skips-bail-flee-to-malawi/">Bushiris left South Africa and returned to Malawi. </a>
The FSCA found that JM Busha Asset Managers knew that it was not authorised to invest in Shepherd Bushiri Investments and that JM Busha Asset Managers also withheld this information from its client.
<h2><a href="https://news.pindula.co.zw/">Pindula News</a></h2>

South Africa: Zimbabwe's Presidential Aspirant Loses Financial Services Licence Over Loan To Shepherd Bushiri

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