Zimbabwe battles to contain rampant inflation High inflation and cash shortages have forced citizens to resort to the black market BL PREMIUM 10 January 2021 - 17:14 Kevin Samaita
As desperate Zimbabweans escaping economic collapse converge on the congested Beitbridge border post, the government has unveiled its latest plan to deal with rampant inflation. Zimbabwe’s economy continues to be in a quagmire because of high inflation, with many citizens leaving the country in droves to seek greener pastures in SA. ..
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Former Implats CEO heads new mining operation in Zimbabwe BL PREMIUM 21 December 2020 - 13:16 Kevin Samaita
Harare Former Impala Platinum CEO David Brown has been appointed to head Kuvimba Mining House, a consortium of international investors that has plans to invest up to US$1bn (R15,53bn) to revive closed mines in Zimbabwe.
Dozens of potentially viable mines in Zimbabwe are shut down or mothballed due to lack of capital, as investors shun the country because of a poor investment climate and policy inconsistencies by the government.
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Zimbabwe’s central bank ends gold monopoly The central bank has ceded a majority shareholding in the country’s sole buyer, refiner and exporter of gold for the past 40 years BL PREMIUM 17 December 2020 - 21:17 Kevin Samaita
Harare Zimbabwe’s central bank says it will partially cede control of the refinery of gold and offer mining companies 60% of the refining business, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said on Wednesday.
Owned by the RBZ, Fidelity Printers and Refiners (FPR) has been operating as the country’s sole buyer, refiner and exporter of gold for 40 years, but the monopoly has been criticised by those seeking to invest in the country’s gold sector.