Zimbabwe’s second largest ferrochrome producer Zimbabwe Alloys is searching for investors to inject cash in its operations despite the risk of losing half of its mining claims to government.
Former Economic Planning Minister Tapiwa Mashakada, who is also the Movement for Democratic Change-Tsvangirai Shadow Minister for Finance, says he would aim to rum a $20 billion budget for Zimbabwe and would pursue production, inclusive growth and infrastructure development to revive Zimbabwe’s economy.
Diversified group, Art Corporation says it plans to recapitalise its subsidiary Kadoma Paper Mills (KPM) in the short-term but has no intentions to reopen Mutare Board and Paper Mills (MBPM), which folded five years ago.
Donald Trump’s bleak inauguration speech has attracted attention for, among other things, employing the phrase “America first”.
The stock market fell by 2.67 percent to close the week at 141.14 points on the back of the losses in heavyweights led by Econet which dropped a third of its valuation in the week.
There are a lot of unanswered questions since the country’s largest mobile telephone network, Econet Wireless Zimbabwe, announced a $130 million rights offer on 17 January.