Former Reserve Bank of Zimbabwe governor Gideon Gono who became famous for his “failure is not an option” but saw the country slide to its highest hyperinflation ever, is back this time promising that Zimbabwe will attract foreign investments worth $10 billion in the next two years.
News about President Robert Mugabe’s trip to Singapore for a “routine medical check-up” has sparked the succession debate again especially in the Western media.
Zimbabwe’s Steward Bank has suspended payments to the pay-TV subsidiary of South Africa’s Naspers, citing unavailability of foreigncurrency, in a sign that dollar shortages are worsening in the southern African nation.
The National Social Security Authority today announced that it will increase minimum retirement pension benefit by 33 percent from $60 per month to $80 per month with effect from October 1.
General Beltings Limited, Zimbabwe’s sole manufacturer of conveyor belts says capacity utilisation has risen to 40 percent but business remains constrained due to an influx of imports despite a government ban on imports.
When Zimbabwe signed the Abuja Accord in 2001 under which it agreed that orderly implementation of the land reform programme could only be meaningful and sustainable if it was carried out with due regard to human rights, rule of law, transparency and democratic principle, the Financial Gazette said President Robert Mugabe had been trapped.