Egypt-based Afreximbank is lead arranger for a $1.8 billion loan to help Zimbabwe clear arrears at the World Bank and African Development Bank, the state-owned Herald newspaper said yesteerday, citing the country’s finance minister.
President Robert Mugabe yesterday officially became the third longest serving non-royal ruler in the world replacing Angolan President Jose Eduardo dos Santos who stepped down to give way to Joao Lourenco.
A Harare magistrate today ordered the release of activist pastor Evan Mawarire without any conditions after it established that he was not brought to court within the mandatory 48 hours.
State-owned fixed line operator Telone says it is in a renewed drive to increase its subscriber base in order to grow the company’s revenues and return to profitability.
Hospitality and retail group Meikles Limited will open up to new investors its hospitality, agriculture and stores divisions as the group restructures to improve operational efficiency, Chairman John Moxon said today.
Shortages of cooking oil in Zimbabwe are imminent following a cut in foreign currency allocations to manufacturers by the central bank. The Reserve Bank of Zimbabwe (RBZ) tightly controls foreign currency which is in short in the southern African country. Oil Expressers Association of Zimbabwe (OEAZ), a grouping of seven firms which supply up to 95 percent of the edible oils consumed in the country said in a statement their “credit lines for raw materials have reached maximum levels and members can no longer access raw materials on credit from their foreign suppliers as they normally do”.