Last week at the World Economic Forum, Zimbabwe’s new president, Emmerson Mnangagwa, declared: “Zimbabwe is now open for business.” Mnangagwa’s appearance in Davos, Switzerland, was a first for his country, which had been ruled by Robert Mugabe since independence in 1980.
AIM listed junior miner Vast Resources said gold production at its Pickstone-Peerless mine in Chegutu increased by 28 percent to 6 057 ounces in the fourth quarter ending December 2017 compared to 4 738 ounces recorded in September.
Britain has welcomed Zimbabwe’s decision to issue 99-year leases to white farmers, which ended Harare’s over a decade long policy of racial discrimination in agriculture, saying it was an ‘important signal to international investors.’ Former president Robert Mugabe’s government evicted more than 4 000 under a violent land redistribution exercise which started in 2000 and then only issued 99-year leases to black farmers while the remaining white farmers were issued 5-year leases.
Former Vice-President Joice Mujuru who met former President Robert Mugabe this week said Mugabe was not under house arrest and was in very good shape contrary to reports from former Higher Education Minister Jonathan Moyo that Mugabe was being ill-treated by the new administration of Emmerson Mnangagwa.
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.