Zimbabwe’s infrastructure bank has secured funding commitments from three institutional investors for its $12 million student accommodation development in Bulawayo, an official has said.
The Zimbabwe Stock Exchange mainstream index shed 0.74 percent to 364.42 points today on profit-taking in some counters, while the resources index recorded a marginal 0.05 percent gain to 98.74 points.
Zimbabwe’s maize producer price of $390 per tonne is too high and makes agriculture based commodities uncompetitive for export, Agriculture, Mechanisation and Irrigation Development deputy Minister responsible for Livestock Paddy Zhanda said today.
The National Social Security Authority’s (NSSA) $18 million deal to recapitalize Cold Storage Commission (CSC) will go ahead after the High Court approved a scheme of arrangement between the meat processor and its creditors, an official has said. The state run pension fund expressed interest to bail out CSC in an equity investment arrangement earlier this year but the deal was held up by a creditor opposing the scheme of arrangement.
Zimbabwe is moving to inject additional bond coins valued at $3 million into the local market, it has emerged.
Finance Minister Patrick Chinamasa was yesterday given a torrid time over the present cash shortage in the country after legislators insisted that he must explain why there was no cash at the banks but plenty at Roadport and why people were being allowed to charge premiums of up to 35 percent.