Zimbabwe’s largest ferrochrome miner, ZIMASCO today announced that it had come out of judicial management after nearly two years.
Zimbabwe will stick to the deadline to phase out the high sulphur diesel 500 by the end of this month and cut the price of the cleaner diesel 50 by about nine percent, energy minister Simon Khaya Moyo has told Parliament.
Movement for Democratic Change leader Morgan Tsvangirai is critically ill and his supporters should “brace for the worst”, Associated Press said today quoting a party source “with knowledge of his condition”.
Last week at the World Economic Forum, Zimbabwe’s new president, Emmerson Mnangagwa, declared: “Zimbabwe is now open for business.” Mnangagwa’s appearance in Davos, Switzerland, was a first for his country, which had been ruled by Robert Mugabe since independence in 1980.
Government has gazetted the Zisco Debt Assumption Bill, effectively taking over the steel giant’s debt, clearing the way for its takeover by Chinese firm, Tian Li and its revival.