The National Social Security Authority (NSSA) says its plans to invest in the Cold Storage Commission (CSC) will not be affected by the meat processors legacy debts which are being dealt with in a recently approved scheme of arrangement. The cash rich state run pension fund intends to pump out $18 million to recapitalize CSC in an equity investment deal.
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya today told a meeting of business leaders that the country was generating sufficient foreign currency but was suffering from lack of confidence in the financial system. Mangudya said Zimbabwe had generated $4 billion in foreign currency receipts between January and September.
The Zimbabwe African national Union-Patriotic Front politburo might as well meet at Africa Unity Square and not at the party headquarters because its deliberations are leaked to the public even before the meeting is over, Mabvuku-Tafara Member of Parliament James Maridadi said yesterday.
The proposed investor for PG Industries, Dewei Investments says it has received regulatory approvals and will proceed to pay off the building materials manufacturer’s shareholders and creditors this month.
The Zimbabwe African National Union-Patriotic Front has dismissed reports of a purported rift between party leader Robert Mugabe and his deputy Emmerson Mnangagwa saying this is the work of regime change agents under the guise of journalism.
Regional cement maker Pretoria Portland Cement (PPC) says volumes at its Zimbabwe operation rose 25 percent in the period between January to August on increased production at its new Harare mill.