The International Monetary Fund (IMF) says the softening of the Indigenization and Economic Empowerment Act is a step in the right direction and feels the 2018 budget is a good starting point in addressing excessive government expenditure. Zimbabwe’s Finance Minister Patrick Chinamasa last week presented the budget seen as tackling the widening fiscal deficit and implementing critical structural reforms.
President Emmerson Mnangagwa yesterday extended the life of his party’s central committee to 2022, realigning the congress to the national elections and urged members of focus on the economy rather than just politics which had led to squabbling which had almost derailed the party.
Plastics manufacturer, Proplastics says construction of its new factory has started after the company received regulatory approvals and secured funding for the project.
AIM-listed Premier African Minerals says it has found funders for its Zulu Mine in Matabeleland South and is in negotiations with a potential partner, adding on to Zimbabwe’s already enviable lithium resources.
Zimbabwe’s new President, Emmerson Mnangagwa says he has a list of companies and individuals who spirited money into safe havens outside the country, and he will publicly shame them if they do not respond to his three-month amnesty to return the looted funds.