Zimbabwe | - Part 3

Zimbabwe to Consider Waivers on Platinum, Diamonds Ownership Law

HARARE (Capital Markets in Africa ) -Zimbabwe will consider applications from companies mining platinum or diamonds to be exempted from a requirement that they be at least 51 percent owned by black citizens of the country. The government wants companies to show they have a plan to achieve compliance before it will consider granting waivers, Mines Minister Winston Chitando said in an interview in Cape Town Wednesday. “Companies should come up with proposals which suit their different…

Zimbabwean Opposition Party Says Mnangagwa Rule Is Illegitimate

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HARARE (Capital Markets in Africa) – Zimbabwe’s opposition National People’s Party said the country’s new president, Emmerson Mnangagwa, lacks legitimacy and is overseeing military rule ahead of elections he says will take place before July. Mnangagwa should return Zimbabwe to legitimate civilian rule and introduce electoral reforms, Joice Mujuru, head of the NPP, said in an emailed statement late Thursday. He must also undo “oppressive” legislation that undermines press freedom and enables the persecution and arrest of…

It Would Be a Pitch Like No Other as Zimbabwe Eyes Bond Sale

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HARARE (Capital Markets in Africa) – It’s a sales pitch as tough as they come: the economy has halved since 2000, unemployment’s at 90 percent and bank withdrawals are capped at $40 a week. What’s more, the government is behind on World Bank loan payments and some officials have been sanctioned by the U.S. and Europe. Welcome to Zimbabwe, where new president Emmerson Mnangagwa wants tosell Eurobonds to revive one of the world’s weakest economies and end its…

Mnangagwa Urges Zimbabwe to Move on From Ndebele Massacres

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HARARE (Capital Markets in Africa) – Zimbabwe’s new president, Emmerson Mnangagwa, is urging the southern African nation to put behind it one of its most painful episodes: the army’s massacre of as many as 20,000 people from the minority Ndebele ethnic group in the 1980s. Mnangagwa, who replaced Robert Mugabe as president in November, was minister of state security at the time of the killings that started in 1983, three years after independence from the U.K. Opposition leaders,…

Zimbabwe Opposition Mulls Future Without Founder Tsvangirai

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HARARE (Capital Markets in Africa) – Zimbabwe’s main opposition party, the Movement for Democratic Change, is in a quandary over whether its long-serving leader and founder Morgan Tsvangirai, who’s undergoing treatment for colon cancer, should retire before this year’s elections. While Tsvangirai, 65, has appeared increasingly frail, he remains the party’s most-popular official and his absence from the ballot could undermine its campaign. The MDC will be up against the ruling Zimbabwe African National Union-Patriotic Front, which…

Zimbabwean Opposition Leader Tsvangirai Suggests He May Retire

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HARARE (Capital Markets in Africa) – The leader of Zimbabwe’s main opposition party hinted Monday at his possible retirement, less than two months after the end of his long-time foe President Robert Mugabe’s almost four-decade rule. “We must recognize the imperative that new hands, with the full blessing of the people, must take this struggle and this country forward,” Morgan Tsvangirai of the Movement for Democratic Change said in a statement emailed from the capital, Harare. Mugabe, 93,…

Zimbabwe Government Meets Evicted White Farmers Who Left Country

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HARARE (Capital Markets in Africa) – Zimbabwean Deputy Finance Minister Terence Mukupe has met with white farmers who moved elsewhere after being evicted during the country’s often-violent land seizures. Mukupe, who was appointed to the role in new President Emmerson Mnangagwa’s government, sees opportunities for the farmers to return and participate in the economy, he said in an interview this week. Zimbabwe should treat exiled white farmers like “any other Zimbabwean” and offer them opportunities to farm in…

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