In 2019, Government cancelled a US$400 million tender for the recapitalisation of the National Railways of Zimbabwe (NRZ), just over two years after handing the contract to the Diaspora Infrastructure Development Group (DIDG) and Transnet consortium.
The battle over a US$400 million deal to recapitalise the National Railways of Zimbabwe (NRZ) could be headed to the courts, further delaying plans to fix the country's collapsed rail network.
After government...
Zimbabwe’s economy will contract by 7.1% this year,
according to a new forecast by the International Monetary Fund.
The IMF’s prediction, in its latest global economic outlook released Tuesday, is a further downgrade from...
Caledonia Mining has maintained its full-year gold production
forecasts for Blanket Mine despite its third quarter output falling short of
targets.
The company, listed on the NYSE and AIM in London, says gold production in the quarter...
Caledonia Mining Corporation Plc says it has commissioned a new US$1.6 million oxygen plant at the Blanket Mine that will improve recoveries and cut the amount of cyanide used by the mine.
Based...
After long regulatory delays, Zimbabwe has now begun cultivation of hemp and cannabis, with high hopes to add a new export into its pot of traditional cash crops.
In 2018, Zimbabwe announced it...
FBC Bank managing director Webster Rusere says the bank still allows forex cash withdrawals for depositors holding ‘free funds’, allaying fears raised by a leaked internal circular which appeared to change rules on the operation of foreign...
It’s a barometer of the economy, measured in drumsticks,
thighs and chips.
The latest financial results of Simbisa Brands, which runs Zimbabwe’s largest fast-food franchises such as Chicken Inn and Nando’s, show that fewer...
Zimbabwe’s economy could shrink by as much as 6.5% this year, worse than initially projected, due to a devastating drought as well as shortages of foreign currency, electricity and fuel, according to a Treasury document seen on...
A move by the United States to bar Marange diamonds on the
basis of “forced labour” has surprised even the activists working to have Zimbabwean
diamonds blacklisted, and could undermine the credibility of genuine demands
for transparency in the sector....
