Zimbabwe’s road authority says it will seek government invention to reverse a decision by Harare City Council to reject a deal in which the local authority could access more than $200 million to finance rehabilitation of the capital’s decaying road network.
Bermuda-headquartered platinum miner, Aquarius Platinum said production at its 50 percent owned Zimbabwe unit, Mimosa Mine, reached a record high of 60 035 ounces for platinum group metals (4E) in the fourth quarter to June, but revenue fell two percent to $62 million as metal prices continue to fall.
Zimbabwe’s largest mobile phone operator Econet Wireless says failure to pay interconnection fees by its state-owned rivals — NetOne and fixed line phone operator TelOne amounting to over $26 million in the last five years — could paralyse the telecoms sector.
The government has given diamond mining companies in Zimbabwe just weeks to submit their audited financial statements before they merge into one mining company-the Zimbabwe Consolidated Diamond Company.
In another blow to workers, the Supreme Court, which recently said employers could fire workers on three months’ notice without any retrenchment package, yesterday ruled that housing, education and other allowances were not a right to workers.
Zimbabwe’s central bank says electronic payments are expected to reach $50 billion by the end of the year as the country’s mobile money sector continues to grow in both volumes and value.