Kuvimba s US$5 2m dividend payout shows mining giant s growing influence thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.
Questions over shadowy partners in Zimbabwe’s revival plan
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Most Read Government will not say where it got funds for purchase of mines, smelters and platinum concessions 11 May 2021 - 09:11 Felix Njini and Antony Sguazzin Zimbabwean finance minister Mthuli Ncube. Picture: REUTERS
In December, the government of Zimbabwe announced a multibillion-dollar project called Kuvimba Mining House that would hold some of the nation’s most valuable gold, platinum, chrome and nickel mines and whose revenue would be used to revive the country’s moribund economy.
The venture would be 65% owned by the government and 35% by private investors, finance minister Mthuli Ncube said in a January interview, predicting it would be “highly profitable” within two years. President Emmerson Mnangagwa said in December the venture will help “in unlocking the inherent richness and value of our country’s mineral deposits,” according to the state-controlled Herald
How Zimbabwe’s cartels extract ‘rent’ from Zimbabwe’s poorest and make the elites richer
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MAVERICK CITIZEN EXCLUSIVE, PART TWO
Illustrative image | Sources: Zimbabwean President Emmerson Mnangagwa. (Photos: Waldo Swiegers / Getty Images | Flickr / Elena Kis | EPA-EFE/AARON UFUMELI | Luke MacGregor/Bloomberg via Getty Images | Cynthia R Matonhodze/Bloomberg via Getty Images
The publication by Maverick Citizen of the Report on Cartel Power Dynamics in Zimbabwe has raised some important questions about the presence and impact of cartels in Zimbabwe in particular and Southern Africa in general.
The report finds that there is consensus across political parties, academics, and wider society that cartels “go against the public interest” and are characterised by collusion between the private sector and influential politicians to attain monopolistic positions, fix prices and stifle competition.
By Maverick Citizen
THE publication by Maverick Citizen of the Report on Cartel Power Dynamics in Zimbabwe has raised some important questions about the presence and impact of cartels in Zimbabwe in particular and Southern Africa in general.
The report finds that there is consensus across political parties, academics, and wider society that cartels “go against the public interest” and are characterised by collusion between the private sector and influential politicians to attain monopolistic positions, fix prices and stifle competition.
In Zimbabwe, as the report finds, “institutions for regulating property rights, law and finance have been ensnared, and are actively abused to facilitate rent-seeking by cartels”.
Joe Biden and Emmerson Mnangagwa
WASHINGTON – Zimbabwean dictator Emmerson Mnangagwa will not attend next week’s inauguration of U.S. President Joe Biden, a list of guests seen by 7NN shows.
Mnangagwa has been excluded from the proceedings at the U.S. Capitol Jan.20 along with North Korean despot Kim Jong Il and the blacklisted rulers of Iran, Vietnam and Belarus. Mnangagwa is considered a serious security threat after his Varakashi cyber-terror group was caught by the CIA encouraging violence that followed the police killing of George Floyd.
U.S. intelligence agency, the Office for Foreign Assets Control also found that Mnangagwa was involved in grand corruption, moving billions of dollars of state funds from the Treasury to offshore accounts run by his henchman Kudakwashe Tagwirei and a front company called Sotic International, registered in Mauritius but with secret financial dealings in the British Virgin Islands. Tagwirei was placed under sanctions by Donald Trump in Augu