News about Zimbabwe that you can use
Resource group Mwana Africa on Friday said it has engaged the government of Zimbabwe over its recent executive changes and is ready to discuss with it the company’s plans.
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The local associate of SABMiller has recorded a 10 percent decline in revenue for the first quarter-ended 30 June due to weak demand and price reductions.
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Shareholders and creditors of the struggling manufacturing firm, Cairns Holding have voted in favour of its takeover by private equity firm, Takura Capital after approving its bid for the 63 percent shareholding previously held by the central bank.
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Property worth millions of dollars belonging to the state-owned meat processor, Cold Storage Company (CSC) is set to go under the hammer today over unpaid debt to the Bulawayo City Council.
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Zimbabwe is still negotiating with the Indian company Essar the issue ofreviving ZISCO but the talks have been stalled because the world prices of iron and steel are now too low.
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Zimbabwe’s tobacco sales have dropped 8.5 percent to 188.5 million kilogrammes this year after a prolonged drought in the southern African country affected production of its top export earner, an official said yesterday.
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Bureau Veritas, the French firm contracted by Zimbabwe to enforce import standards to curb the flow of substandard products into the country, will start operating at the end of this month, industry and trade minister Mike Bhima has said.
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Resource group Mwana Africa today came under attack from the Zimbabwe government for changing the board and management of its two local subsidiaries saying this will negatively affect the implementation of its indigenisation law.
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Three short-term insurers have failed to meet the industry prescribed $1.5 million minimum capital requirement as gross premiums written (GPW) in the first quarter to March remained flat, mirroring the slowdown in economic growth, the regulator said today.
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The World Bank has lowered Zimbabwe’s economic growth forecast to a modest one percent this year from an initial projection of 3.2 percent, its worst performance in five years due to falling commodity prices, but is seen recovering in the next two years.
(313 VIEWS)
