RioZim seeks nod for turnaround plan

At an extraordinary general meeting held virtu­ally last week Wednesday, shareholders voted 100 percent in favour of the disposal of the gold mine to an unrelated third-party purchaser.

RIOZIM is seeking shareholders’ approval to execute a series of corporate actions, including asset disposals, debt restructuring and financing as part of its proposed turnaround strategy. The Zimbabwe Stock Exchange-listed metal and mining company has been struggling for profitability owing to a confluence of challenges, mainly, weak cash flow, high debt levels, undercapitalisation and antiquated…

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