Government borrowing from the local market jumped nearly 40 percent in May this year, driving an increase in domestic credit by 21.1 percent on an annual basis to $8.45 billion from $6.98 billion, latest data from the central bank shows.
Struggling state-owned National Railways of Zimbabwe (NRZ) plans to borrow $10 million from local banks to finance the overhaul of 10 locomotives this year, an official has said.
Former army commander Solomon Mujuru was aware that President Robert Mugabe was going to lose the 2008 elections and told him to resign 19 days before the elections to avoid humiliation but Mugabe stood his ground and instead told the world that Mujuru was fully behind him.
Fast foods group Simbisa Brands says it’s seeking regulatory and shareholder approvals for a secondary listing on the London Stock Exchange Alternative Investments Markets (AIM) to access additional funding for expansion. Simbisa is an Innscor Holdings quick service restaurant spin-off, and listed on the Zimbabwe Stock Exchange in November 2015.
Platinum production at Unki Mine for the second quarter to June 30 rose 10 percent to 19 500 ounces compared to 17 800 ounces in the same period last year largely on improved efficiencies at the mine.
President Robert Mugabe has been at the helm of the Zimbabwe African National Union-Patriotic Front for 40 years now and according to the United States embassy he has maintained his control over the party through patronage and fear.