Six private investors, including SMH Rail Malaysia and South Africa’s Transnet today submitted bid documents for a $400 million tender to recapitalize Zimbabwe’s struggling rail company.
The Zimbabwe industrial index advanced 35.6 percent in the six months to June, as investors sought to escape poor returns on the money market and the possible impact of the country’s bond note surrogate currency. All heavyweight counters recorded gains in the period as the index closed the month on 195.97 points while the resources index rose 19.28 percent to 69.79 points, On a year-on-year basis, the industrial index and the mining index gained 94 percent and 182.55 percent respectively.
Revenue for Zimbabwe’s mobile operators fell by 9.7 percent from $199.2 million to $179.8 million in the quarter to March, as voice income plummeted and operating costs spiked, the regulator reported.
President Robert Mugabe today donated $1 million to the African Union Foundation in a “humble gesture” which he said he hoped would steer the AU towards financial independence.
The Movement for Democratic Change led by Morgan Tsvangirai today said it is alarmed by President Robert Mugabe’s call to take over the remaining farms occupied by white farmers yet one of Mugabe’s lieutenants, and members of his immediate family, has 19 farms.
National Social Security Authority profit increased by 230 percent to $105.9 million for the full year to December 31, 2016, on the back of less write downs and improved contributions.