Stories

Zimbabwe Stock Exchange’s historic automated trading platform is set to go live tomorrow following several delays caused by the slow migration of quoted companies to the central securities depository , a development which could help breathe life into the equities market, officials said.

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The Zimbabwe government’s organ set up to oversee implementation of the country’s controversial local ownership law today admitted that tender procedures were flouted when an advisory firm was engaged to assist government negotiate deals with foreign firms.

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Zimbabwean legislator Priscilla Misihairabwi-Mushonga yesterday complained that there was rampant sexual harassment in Parliament and asked Vice-President Emmerson Mnangagwa who women being sexually harassed should go to.

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The Morgan Tsvangirai-led faction of the Movement for Democratic Change says it is not an extension of United States foreign policy. Zimbabweans have to decide what is best for themselves.

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One of Zimbabwe’s oldest real estate agents Fox & Carney, which is under liquidation, lost $300 000 to employee fraud while its shareholders have since fled the country, leaving its clients in a lurch, the High Court heard yesterday.

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The Zimbabwe Stock Exchange market capitalization plunged to $3.8 billion in the first half of 2015 after losing $1 billion in valuation, mirroring an economy some analysts warn could slip into recession this year.

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Agro-industrial conglomerate CFI narrowed its losses to $3.8 million in the half-year to March from $5.5 million on improved performance of its specialised division which registered a 132 percent growth in revenue, the company said yesterday.

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Pan-African Energy Resource (PER), the French developers of the 2 000 megawatt coal-fired power plant in Binga, western Zimbabwe, plan to commission the first phase of the project by mid-2019, according to a revised project schedule tabled by the southern African country’s energy regulator today.

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Zimbabwe’s troubled national airline Air Zimbabwe has accumulated debt of up to $12 million in unpaid handling fees to state owned cargo handler, National Handling Services (NHS), an official has said.

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Resources group Falcon Gold has sold off the majority of its shareholding in Venice Mine near Kadoma to an unnamed investor who will inject $4 million to resume production over a decade after the mine stopped operations.

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