Friday, July 21, 2017

Zim in bid to raise US$50 million from Diaspora

Zimbabwe begging bowl will be extended to the Diaspora once again as the country seeks to raise US$50 million to help finance the rebuilding of the economy.

David Whitehead stripped of assets

David Whitehead Textiles Limited’s assets have allegedly been stripped, with plant and machinery being taken to South Africa to be sold as scrap metal, it has been learnt.

Joint South Africa-China company moves another step forward

Clean Coal Technology, a joint venture between Chinese and South African expertise, expects to complete a feasibility study for a commercial indirect liquefaction plant in China within the first half of this year.

Tsvangirai rejects law signed by Mugabe

Zimbabwe’s Prime Minister Morgan Tsvangirai rejected legislation signed into law by President Robert Mugabe that forces companies to sell more than half of their shares to black investors, saying it would “scare off” foreigners.

Zimbabweans to take control of white-owned companies

White-owned companies in Zimbabwe are to be forced to hand majority control to black businessmen in a move that could lead to chaos rivalling the seizure of the country's commercial farms.

Zimbabwe mines minister in trouble over diamonds

Controversy deepened Monday over the Zimbabwean government's handling of the Chiadzwa diamond field in the eastern Zimbabwe, with revelations of serious irregularities by the mines minister and the South African companies involved.

Netone fails to repay US$28m loan

The government-owned telecommunications company, NetOne, has approached treasury to renegotiate terms for a US$28 million loan the firm got from international financiers at its inception more than a decade ago.

Thieves use fake RTGS transactions

Police have advised the public to be wary of criminals who are using new tricks of defrauding people and companies through fake Real Time Gross Settlement RTGS transactions.

Zimbabwe villagers surviving on barter trade

Every fortnight Makaitei Musakwa, 45, catches one of her chickens, picks up some of the maize she has grown, and sets off for the village mill to have the maize ground into mealie-meal, Zimbabwe's staple food.

Mozambique getting rich from Zim Illicit diamonds

Without a four-wheel drive, Manica's potholed dirt roads are a challenge, but thanks to a steady stream of illicit diamonds from neighbouring Zimbabwe, more and more people in the impoverished town in western Mozambique can afford one.
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