News

Zimbabwe’s trade deficit stood at $3 billion between January and November last year as the economy continued its overreliance on imports, latest trade data from the Zimbabwe National Statistics Agency (Zimstat) shows.

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Gold production at Falgold-owned Turk Mine near Bulawayo is now at 70 percent of installed capacity although funding constraints could hit efforts to push the mine to full production, an official said today.

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Zimbabwe’s sole exporter of semi-processed iron, NJZ Resources Africa, is planning to restart its Buchwa operations by June this year with an eye on the Indian market after getting regulatory approval and despite subdued prices on the international market, an official said today.

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Bulawayo mayor Martin Moyo says the council’s wholly owned Ingwebu Breweries is back in the black after several years, but requires $4 million to refurbish the brewery plant and increase its footprint.

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The rise of Emmerson Mnangagwa to the second highest office in Zimbabwe clearly highlights that political expediency drives the government, not the economy, not the interests of investors and certainly not the interests of the people, a South African daily newspaper said today.

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With Western economic sanctions against Russia, Iran, and Cuba in the news, it is a good time to take stock of the debate on just how well such measures work. The short answer is that economic sanctions usually have only modest effects, even if they can be an essential means of demonstrating moral resolve. If economic sanctions are to play an increasingly important role in twenty-first-century statecraft, it might be worth reflecting on how they have worked in the past.

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London AIM-listed resources company, African Consolidated Resources (AFCR), which owns 50 percent of Pickstone Peerless gold mine near Chegutu has changed its name to Vast Resources to reflect a number of business opportunities that it undertook last year.

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Former central bank governor Gideon Gono’s chances of bagging the Manicaland Province senate seat remains bleak following reports that the Zimbabwe African National Union-Patriotic Front provincial leadership in Manicaland has recommended former central intelligence officer Shadreck Chipanga for the seat.

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Up until now it has been mere speculation that the Herald columnist, Nathaniel Manheru, is permanent secretary for Information George Charamba. But he confirmed this in his column today.

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