The International Monetary Fund (IMF) says its relationship with Zimbabwe is evolving in a positive way but notes that a ‘concerted international effort’ will be required to revive and reintegrate the southern African country’s struggling economy Last week, President Emmerson Mnangagwa and the IMF managing director Christine Lagarde met on the sidelines of the World Economic Forum in Davos, Switzerland, with the Bretton Woods body pledging support for reforms.
The Zimbabwe International Trade Fair (ZITF) Company says plans to construct a 300-bed hotel and convention centre at its Bulawayo grounds will go ahead after completing a feasibility study for the project.
Zimplats reported a 69 percent increase in profit from operations to $40.8 million in the second quarter to December from $24 million last, driven by an increase in sales and firmer prices.
At her last youth interface rally in Bulawayo, former first lady Grace Mugabe gave the impression that she was a better business person than Emmerson Mnangagwa, who she described as a factionalist who only wanted to divide the party.
The Zimbabwe Stock Exchange All Shares index dropped 8.68 percent in January to close at 91.32 points, on profit taking in most counters as the local bourse continues to correct itself from the bull run that ended in November last year.
Britain’s Minister for Africa for the Foreign and Commonwealth Office and the Department for International Development, Harriett Baldwin, arrived in Zimbabwe today.