News

Lessons from Zimbabwe offer a practical roadmap for South Africa in creating an environment that is attractive to investors and conducive to business growth. This is according to renowned businessman Zunaid Moti, who was invited to make the keynote address to an audience of government, industry, and business leaders at the MCCI Energy and Investment […]

Invictus Energy has secured the backing of investor Mangwana Capital and the Mutapa Investment Fund to raise US$10 million to develop its gas find in Muzarabani. NSSA and the Public Service Commission are among the funds that are investing in Invictus. The company will issue 151,515,152 shares worth US$10 million in a private placement. Mangwana […]

SHAMVA Mine, a member of Kuvimba Mining House (KMH), plans to spend US$5,5 million this year to boost production and keep the mine running, according to general manager Gift Mapakame. The Mutapa Investment Fund-controlled KMH, acquired Shamva from Metallon in 2020 as part of a wave of mining asset purchases. Shamva had ceased operations prior […]

KHAYAH Cement, one of the country’s cement manufacturers, plans to invest approximately US$25 million in capital expenditure this year. The significant investment will focus on a crucial kiln refurbishment project at the cement plant, aimed at enhancing production capacity and boosting sales volumes. Khayah chief executive officer Innocent Chikwata said the project would address the […]

A Chinese company, Prestige Massive (Pvt) Limited, is in the process of constructing a 1,200 MW coal-fired power and chrome smelting plant in Beitbridge. According to Newsday, the project is progressing, with abnormal load haulage delivery trucks bringing in equipment from various seaports to the plant site. At least 300 local villagers are currently employed […]

The Chinese-run Dinson Iron and Steel Company has dismissed claims that 19 workers were involved in fatal workplace-related accidents on the back of threats to institute legal proceedings against those peddling falsehoods. This follows viral news stories published by some platforms Monday alleging that a devastating industrial accident had occurred at the Chinese-owned plant in […]

The Zimbabwe Revenue Authority (Zimra) has seized three South African registered trucks after 91 tonnes of copper disguised as in transit goods were stolen at Chirundu Border Post. The company, Nashfreight and Transport Services, unsuccessfully approached the High Court seeking the release of the trucks. The company cited Zimra Commissioner and the Officer in Charge […]

Zimbabwe’s new central bank Governor John Mushayavanhu is building up the nation’s gold reserves to help support the ZiG currency, taking steps that have so far helped curb exchange-rate volatility and an inflation spiral. “In the 100 days that I have been in office we have increased those reserves by about 30%. We are now […]

THE Zimbabwe National Organisation of Associations and Residents Trust (ZNOART) has petitioned the government to reconsider the construction of a proposed cement plant by a Chinese firm in Hurungwe district, Mashonaland West, amid environmental and health concern fears. The proposed US$1 billion plant will be situated in Magunje. In a petition dated July 19 addressed […]

RESOURCES firm Kuvimba Mining House (KMH) is set to inject US$40 million into its gold operations, covering Freda Rebecca Gold Mine, Shamva Mine, and Jena Mines, in a strategic bid to ramp up production and optimise efficiency. The investment will bolster the gold cluster’s performance, according to Patrick Maseva-Shayawabaya, head of KMH’s gold cluster. “(In […]