The Zimbabwe Energy Regulatory Authority (ZERA) has licenced 12 new power projects, including 9 independent producers (IPPs), that could generate an additional 3 500 megawatts, over three times current production.
The equities market is set to close the year nearly 20 percent lower and having shaved off almost $1 billion in market capitalization, a performance below analysts’ expectations, reflecting a sick underlying economy.
After the bruising fight that nearly split the Zimbabwe African National Union-Patriotic Front in the run-up to the congress, the poisoning attempt on Emmerson Mnangagwa a day before he was appointed vice-president, and the car accident involving Vice-President Phelekezela Mphoko a day after his swearing in, one would have thought President Robert Mugabe would have delayed his annual leave to let things settle down.
The Industrial Development Corporation of Zimbabwe (IDC)’s loss position worsened to $22 million for the year ended December 2013 from $20.8 million the previous year, with the institution’s auditors raising the red flag over its going concern status.
The appointments of Emmerson Mnangagwa and Phelekezela Mphoko as vice-presidents, the reshuffling of the cabinet and the announcement of the 2015 national budget by Finance Minister Patrick Chinamasa have all failed to inspire confidence in the nation and will not move the country forward, the president of the MDC Renewal Team Sekai Holland said in her end of year message.