The government spent Z$480 million on the Zupco and roller meal subsidies in the first four months of 2020, but still managed to balance its budget over the period, Treasury data shows. Government also spent a cumulative Z$942 million on...
Mzi Khumalo's Metallon has completed the sale of Shamva Mine to Kuda Tagwirei’s Landela Mining Ventures, while the sale of Mazowe Mine is expected shortly. The transaction represents a change of guard in the industry. Metallon was once the country’s largest...
The Monetary Policy Committee (MPC) has raised the main policy rate from 15% to 35% and introduced new short term bonds, in a fresh bid to curb rising inflation. However, rates remain negative, relative to annual inflation of 785.55% in...
Prospect Resources says it will miss its deadline to reach a petalite offtake agreement with Belgium’s Sibelco, one of the world’s largest glass-ceramic manufacturers. In April, the two companies signed an MoU to work on a possible offtake agreement for...
Stockbrokers in Zimbabwe are struggling to explain to investors after the government shut down the stock exchange. The Zimbabwe Stock Exchange announced Sunday it was suspending trade to comply with a directive issued by the Information Ministry late Friday that...
Caledonia Mining has declared a further increased quarterly dividend of US$0.085 a share as stable production, cost control and high gold prices increase cash generation. The company operates the Banket gold mine near Gwanda. The dividend is a 13% increase on...
  Here’s your weekly newZWrap. In this edition: • Why suspending EcoCash is a bad idea: 5 key numbers • Public pays for govt’s fuel levy abuse • CZI wants independent monitors for forex auctions • Money supply up nearly Z$600m • Nyabira solar plant...
While authorities are pointing to “saboteurs” for driving up inflation and weakening the currency, latest Reserve Bank of Zimbabwe data is pointing elsewhere – to RBZ itself. According to central bank’s latest report on money supply, reserve money – the...
The Zimbabwe government has suspended all mobile money platforms and the stock exchange, blaming them for the collapse of the Zimbabwe dollar on the black market. The Government claims it has “impeccable intelligence” linking mobile money and the Zimbabwe Stock...
Renewable energy firm Centragrid, which became only the second Zimbabwean company to feed solar energy into the national grid last year, plans to upgrade its Nyabira plant to 25 megawatts by October 2021. The plant, built by China’s Sinohydro 35...
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