Zimbabwe needs up to $11 billion to modernise its mines and boost production to maximum capacity over the next five years, the head of the country’s Chamber of Mines said today.
Zimbabwe has a small window of up to 24 months to start producing battery grade lithium and ride the wave of high prices, miners said yesterday, but the country’s high political risk made financing projects difficult.
Dairibord Holdings expects a profitable first half with revenue for the year to date 15 percent up while volumes and prices are higher than the same period last year.
Opposition leader and former Finance Minister Tendai Biti has been incensed by Britain’s loan of $100 million to Zimbabwe describing it as an attempt to put lipstick on the crocodile.
Zimbabwe’s largest financial institution, CBZ Holdings’ total income for the three-month period to March 2018 is up 20.1 percent to $45.2 million compared to $37.7 million same period in 2017 largely due to strong income generation supported by investment in new products and digital channels.
Zimbabwe is a great news story at the moment but it is not yet a member of the Commonwealth and has not reapplied yet, British Foreign Minister Boris Johnson said on Tuesday.