BUSINESS NEWS

The Reserve Bank of Zimbabwe (RBZ) has to date disbursed $100 million out of the $150 million Gold Development Initiative Fund (GDIF) and plans to review the facility upwards following overwhelming applications by small-scale miners.

The Forum on China-Africa Cooperation (FOCAC) offers great opportunities for Zimbabwe, which looks forward to receiving more Chinese investment under the framework of the bloc, Zimbabwean President Emmerson Mnangagwa said Saturday, ahead of the FOCAC Summit.

by Rudo Saungweme

Timber production is one of the business sectors that have remained viable in Zimbabwe against all odds. Harare Post had a round-up visit of the exhibitors on that last day of the show where timber companies expressed satisfaction with their market, both local and international.

by Rudo Saungweme

Special economic zones is the way to go in order to boost exports, increase foreign direct investments, create new jobs and facilitate overall economic development.

Emmerson Mnangagwa was officially sworn in as president of Zimbabwe on Sunday after winning a bitterly-contested election which was the country’s first since the ousting of strongman Robert Mugabe.

Caledonia Mining Corp PLC said Friday it intends to re-purchase its 15% shareholding in Blanket Mine Ltd following an amendment to Zimbabwean law.

by Nobleman Runyanga

Following years of stagnation occasioned by a combination of years of economic challenges, lack of capital and the effect of the United States sanctions on the company, Chemplex Corporation Limited is set to recapitalise.

Communal farmers under the Shashe Irrigation Scheme in Beitbridge District expect to realise more than $100 000 from the sale of their citrus and horticulture products this year.

Tharisa plc said it is continuing talks to work out the details of its deal to buy a 90% stake in Salene Chrome Zimbabwe (Pvt) Limited from Leto Settlement.

by Elijah Chihota

Despite the ongoing economic challenges, increased supply of raw milk saw the country’s largest milk processor, Dairibord Holdings Limited’s profitability increasing.

President Emmerson Mnangagwa criticized the renewed U.S. sanctions against Zimbabwe, which he described as illegal, and asked that country's ambassador to Harare to convey Washington a correct assessment of the situation in this African nation.

Zimbabwe’s tourism sector is starting to re-engage its international markets, targeting tour operators who had ceased to package the country in recent years.