Stories

Zimbabweans Ngoni Kudenga and Herbert Mashanyare were today ejected from Mwana Africa’s board of directors at the resources group’s extraordinary general meeting in London, which saw most resolutions requisitioned by minority shareholders of the company carrying the day.

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African heads of state and government will tomorrow launch the continent’s largest free trade area in Egypt as the region seeks to boost intra-regional trade and improve competitiveness.

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Mwana Africa has appointed Yat Hoi Ning, an associate of its largest shareholder, China International Mining Group Corporation (CIMGC) as interim chairman after Ning and the CIMGC withdrew a court petition against the pan-African resources group over the appointment of non-executive directors.

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Zimbabwe has collected up to $1.6 million in taxes levied on non-resident tourists in the four months to April, despite industry protests that the levy has made the country an expensive destination and is slowing the sector’s recovery, the Treasury told Parliament today.

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Chinese diamond miner Anjin Investments has been ordered by Zimbabwe’s labour court to reinstate at least 1 100 employees it fired three years ago.

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International Football Association president Sepp Blatter defied calls from the media and developed countries to resign before the FIFA congress on 29 May because he argued he could not allow the actions of a few individuals to destroy the world’s most beautiful and most popular game.

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Tobacco sales have fallen 14 percent in the 60 days of trade since the tobacco selling season started, the industry regulator has said.

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Zimbabwe’s largest company by revenue, Innscor Africa Limited, is set to unbundle and separately list its fast food business in a bid to improve operating efficiencies.

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Vice-President Emmerson Mnangagwa has given Bulawayo, once the country’s industrial hub but now a pale shadow of its former self, some hope.  He says the government has lined up a number of deals for the resuscitation of the city, one of the opposition hubs in the country.

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Struggling hardware retailer PG Industries says it will start paying unsecured creditors in October after its court-sanctioned reconstruction scheme was approved and registered, the company said on Wednesday.

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