Portuguese conglomerate Mota-Engil has resumed mining at Hwange Colliery (HCC), four months after quitting over the coal miner’s failure to pay a $50 million debt, an official has said, but it remains unclear if it has been paid.
Zimbabwe today launched an international appeal for $200 million in aid to repair the country’s infrastructure which was damaged by floods. Earlier this month, the government declared the floods a national disaster.
President Robert Mugabe has failed to run the country to the extent that if Zimbabwe were a company, he would have long been fired, Binga North Prince Sibanda told Parliament last week.
The ZSE industrial index last week advanced 1.56 percent to 137.47 points on gains by big cap counters.
The clothing retail group, Truworths has reported a 36 percent drop in revenue for the six months to January 8, 2017, from $12.15 million last year to $7.79 million on the back of waning demand.
Zimbabwe’s largest short-term insurer, Nicoz Diamond on Friday reported a 41 percent drop in net profit to $959 798 in the full year to December 31 from $1.64 million in the previous year after its regional operations suffered from unstable economies.