Zimbabwe has changed its empowerment law to limit majority ownership by state entities to only diamond and platinum mines and not the entire mining sector as in previous legislation, according to a government notice.
The Movement for Democratic Change has scoffed at the list of externalisers relased by the government yesterday saying President Emmerson Mnangagwa promised to release the names of individuals that were looting the country not companies that are genuine exporters.
Zimbabwe’s largest short-term insurer NicozDiamond posted an after tax profit of $2.44 million in 2017 compared to $1.75 million in 2016 largely driven by modest growth across the group and a rebound by its Malawi unit.
MBCA Bank yesterday rebranded to Nedbank Zimbabwe but said clients would not be able to access cash easily when outside the country despite the bank’s presence in the region.
Former Zimbabwe President Robert Mugabe has just disclosed that he had very few friends towards the end of his reign with most probably regarding his ousting as good riddance.
Moti Group is preparing to double its investments in Zimbabwe to $500 million after the removal of Robert Mugabe as president in November saw the government adopt a more open approach to foreign companies.