Zimbabwe’s Speaker of Parliament Jacob Mudenda has ordered the Minister of Women’s Affairs, Nyasha Chikwinya, to give a comprehensive statement on the appointment of board and staff for the proposed Women’s Bank or face charges of contempt of Parliament.
Zimre Holdings is set to make a mandatory offer to compulsorily buy out minority shareholders in CFI after it raised its shareholding in the company to 41.03 percent, said company secretary Panganayi Hare in a statement.
“The ANC is using the ZANU-PF tactics of remaining in power,” South Africa’s Pan Africanist Congress (PAC) declared this week.
Resources group RioZim reported a net profit for the first time since dollarisation, of $2.5 million in the full year to December 31, 2016 from $8.8 million loss in the preceding year on increased revenue and cost containment measures.
Zimbabwe and Zambia say they are prepared to undertake deep reforms to attract investors for the $4 billion Batoka Gorge Hydro power plant which would produce 2 400 megawatts and ease power shortages in the two countries. The two countries, which are bordered by the Zambezi River, are on a charm offensive to court financiers for the development of the power plant which will be located 54 Kilometers downstream of the Victoria Falls.
Movement for Democratic Change deputy leader Nelson Chamisa yesterday told Parliament that the appointment of Luke Malaba as Chief Justice was a victory for constitutionalism because President Robert Mugabe had demonstrated that he respects the law.