Bulawayo-based textile firm Merlin is close to securing a $1 million funding under the Distressed Industries and Marginalised Areas Fund (Dimaf) to resume production while scouting for credible investors, the judicial manager has said.
President Robert Mugabe yesterday blasted the United States for extending sanctions on Zimbabwe and said that Washington was now at the mercy of Beijing.
The National Social Security Authority (NSSA) has commenced construction of a $6.5 million shopping mall in Chipinge, Manicaland province, a decade later than the originally planned after hyperinflation rendered the local currency worthless and planning almost impossible.
The Movement for Democratic Change faction led by Morgan Tsvangirai says the Broadcasting Authority of Zimbabwe should be disbanded because it is packed with apologists for the Zimbabwe African National Union-Patriotic Front.
Former Industry and International Trade minister Nkosana Moyo has joined South Africa’s Impala Platinum, the world’s second largest platinum producer and Zimplats’ parent company, as an independent non-executive director, the mining firm announced today.
The government says it will rescue MicroKing, the micro-lending arm of AfrAsia Bank Zimbabwe — which was closed last week when its Mauritian owners pulled out — after visiting United Kingdom secretary for international development, Mark Lowcock raised fears over British investment in the institution.