November 24, 2024
This is after Sig-nature Metals exercised its option to acquire the stake. Accordingly, 50 million Signature shares have been issued to Mwana and a further payment of 50 million shares or Aus$1 million in cash will be paid to Mwana upon delineation of one million ounces of gold…
Gold prices inched up above US$1 120 an ounce early yesterday, touching US$1 124,15 an ounce, up 0,5 percent on Monday’s price of US$1 118 an ounce.Analysts were optimistic this week that with the country's economy increasingly getting integrated into the global markets, and government allowing producers to…
The development could astound market analysts who had predicted that MTN could enter the Zimbabwean market through an acquisition of Telecel Zimbabwe, majority-owned by Orascom Telecom of Egypt.This view had gained currency because of a statement by Egyptian billionaire and Orascom Telecom chairman, Naguib Sawiris in 2007 that…
The flamboyant businessman has sought the intervention of two ministers, Ignatius Chombo (Local Government) and Walter Mzembi (Tourism) while Masunda has cut short the leave of councillors sitting on the ad hoc committee dealing with the matter. The councillors were meant to resume work next week.Harare city fathers…
The deal between Reclam and the government-owned ZMDC has been shrouded in controversy ever since Mpofu sanctioned it on behalf of the government last year without going to tender. The imbroglio has also sucked in Canadile, another mining concern that received government green light to mine diamonds in…
A breakthrough is said to have been reached on issues such as media reform, pirate radio stations beaming into the country and the audit of the land reform programme.But there are still sharp differences on six items, which include the appointments of central bank governor, Gideon Gono, the…
ZANU-PF insiders said there was heavy lobbying already within the party to fill Moyo’s diplomatic post, but this could be resisted by the Movement for Democratic Change (MDC) formations, which consider the assignment as one that might help them build stronger relations with Pretoria.Marondera West legislator, Ambrose Mutinhiri,…
Over US$1 billion in strategic sector facilities is earmarked to pass through the country's largest lender by assets, including the US$300 million expected from the Africa Export-Import Bank (Afreximbank) for disbursement to the manufacturing and mining sectors.Other planned facilities include a US$600 million credit scheme for the 2010/11…
The proposition comes as the Reserve Bank of Zimbabwe (RBZ) maintains that banking institutions, failing to measure up to the statutory minimum level of capital must merge, voluntarily fold or be shown the exits.It also runs up against a recent resolution by the G-20 to dispense with orthodox…
Paul Mangwana, the co-chairperson of the committee steering the constitution-making process said it has been agreed that thematic committees would have a majority of members from civic society and would strive to achieve gender balance.“The select committee has also in the past few weeks been working on the…
