News

Zimbabwe’s electricity generation has fallen to 806 megawatts from all its power stations following a systems disturbance at Hwange Thermal Power and maintenance works at other plants, with more power outages likely, the company said today.

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Hippo Valley Estates, a unit of South Africa’s Tongaat Hulett says it is aiming to increase sugarcane production by 10 percent every year and to bump up ethanol output from the current 21 million litres correspondingly.

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Struggling state-owned airline Air Zimbabwe has plans to re-introduce flights to Masvingo and Buffalo Range near Chiredzi, an official has said.

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Former Mines Minister Obert Mpofu met South African diamond executive Ernest Blom on 9 April 2009, less than two months after his appointment, to discuss a mining deal for Marange diamonds that was being proposed by Blom and his partner C. Gregory Turner, a Chicago man who was convicted this month of illegally lobbying for the lifting of United States sanctions on President Robert Mugabe.

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Global telecoms giant VimpelCom, the parent company of Telecel Zimbabwe, today said it had sold its Burundi and Central African Republic interests to Econet Wireless Global (EWG) for $65 million.

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Ferrochrome producer Zimbabwe Alloys has recovered 150 tonnes of metal from its dumps after an unnamed Chinese firm commenced recovery last month, while talks with a potential investor to inject $50 million fresh capital into the business will be concluded in three months, the company’s judicial manager has said.

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Two Chicago men who were recently convicted of illegally lobbying for the lifting of sanctions on Zimbabwean President Robert Mugabe and former Central Bank governor Gideon Gono were not only interested in bailing out  the ageing ruler but they were also eyeing Zimbabwe’s vast diamond resources.

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The Movement for Democratic Change today said it was satisfied with the preparations for its congress to be held this month and said the congress will not just be about elections but will set up the roadmap to the next elections.

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The Postal and Regulatory Authority of Zimbabwe (POTRAZ) has ordered mobile network operators to cut their voice tariffs to 15 cents per minute from the current maximum of 23 cents per minute with effect from December after adopting a new pricing model, in a move that will exert pressure on a sector battling rising costs.

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